MIAMI – Blue Mahoe Capital, Inc., a US-based impact investment firm primarily focused on affordable housing in the Caribbean, has announced a Caribbean Diaspora bond offering to US investors. Scheduled to start in February 2025, Black History Month is an important event. It aims to use private investment to help with urgent housing needs in the Caribbean.
The bond offering follows Regulation CF of the JOBS Act. It aims to attract US investors who want fixed, guaranteed returns. A special purpose vehicle, Blue Mahoe Real Estate Partners, will manage the investment. The bond has a 5-year term and an annual interest rate of 10%. Interest is paid twice a year. Each bond costs US$100, and investors can buy at least 1 bond. This makes it easy for retail investors to participate.
David Mullings founder, Chair, and CEO of Blue Mahoe Capital
“I served on the Jamaica Diaspora Advisory Board and we spent too much time talking about a Diaspora Bond. Now, we’ve created a transparent, audited, and regulated structure to build trust among investors, particularly the Caribbean Diaspora,” said David Mullings, founder, Chair, and CEO of Blue Mahoe Capital. “This bond offering provides a stable investment option while contributing to critical housing development in the Caribbean,” he explained.
In May 2024, Blue Mahoe Capital made history as one of the first US-based companies to secure SEC qualification to raise capital from retail investors for investments in the Caribbean. Through its initial offering, the company has been selling shares at $10 per share with a minimum investment of US $500, paving the way for broader participation in the region’s growth. The ultimate goal is to list on NASDAQ, offering investors a regulated, liquid way to gain exposure to the Caribbean market.
Building on this foundation, the bond offering gives investors a chance for fixed returns. This is for those looking at the Caribbean and wanting guaranteed returns. It also shows Blue Mahoe’s commitment to transparency and making a positive impact.
“The Jamaican Diaspora has long shown interest in contributing to Jamaica’s growth, but trust deficits have been a barrier,” noted Robert Mullings, chief operating officer of Blue Mahoe Capital. “By utilizing SEC-regulated entities, we aim to bridge this gap and offer a credible investment avenue.”
Housing in Caribbean
The proceeds from the bond offering will primarily fund affordable housing developments in Jamaica. The flagship project, Penn Village in Old Harbour, has already garnered significant interest, with a model unit completed and over 258 potential buyers expressing interest in the first 200 homes of a planned 700-unit development.
Diaspora Capital
Blue Mahoe Capital will assess the success of the US bond offering. Depending on demand, they may expand to Canada and the UK in 2025. “This plan fits our mission to use Diaspora capital for important development in the Caribbean,” said David Mullings.
For more information on the bond offering and other initiatives, visit www.IslandForward.com.
