Silk Road Properties Income Fund, a $10 million private real estate investment fund that adheres to Islamic finance principles, has been launched.
Created by Apex Capital Group, a Princeton, New Jersey-based real estate investment firm, the fund aims to acquire high-growth rental properties, ranging from single-family homes to multifamily apartment buildings, in South New Jersey. According to the company, the fund will provide accredited investors with monthly dividend payouts and an equity upside at the liquidation event after a 48 to 60-month lock-up period.
The company added the fund has received Sharia-compliance approval from Shaykh Joe Bradford, an Islamic finance scholar accredited with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
“Many American Muslims struggle to find investment opportunities that align with their faith,” said Shomail Malik, the fund’s co-founder with his brother Farhan Malik. “Our mission is to provide an avenue for them to invest in real estate while staying true to their values.”
