MERIT targets a 12% internal rate of return and will be managed by Mapletree Real Estate Advisors. It has a term of five years with provision for two one-year extensions and will make distributions on a semi-annual basis in EUR.
A part of the fund has been made available to individual accredited investors in tokenised form (through Prometheus-2) and in smaller units.
Primary subscription for individual investors via iSTOX closed in March 2020. Subscribed units are now listed on the iSTOX exchange for secondary trading, providing existing accredited investors liquidity and new accredited investors a chance to participate.
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