LOS ANGELES–RealtyMogul.com, one of the leading online marketplaces for real estate investing, announced today the closing of five recent transactions, including four equity investments in commercial properties as well as an equity raise for a residential real estate fund. The platform’s investors funded $7.5 million through these opportunities, helping to finance multifamily, residential, office and retail properties.
“With these seven additional raises completed, we became the first U.S. commercial real estate crowdfunding platform to fully fund $200 million since our inception,” Jilliene Helman, CEO of RealtyMogul.com, states.
Highlights of the transactions include:
Ohio Multifamily Building with Growth Potential
RealtyMogul.com helped to finance the $20 million acquisition of Chesapeake Landing, a 256-unit multifamily property in Dayton, OH, closing a $1.6 million equity investment. The sponsor for the acquisition is an experienced real estate company that currently owns and manages over 3,000 multifamily units. Annual rent growth in the submarket is expected to average 3.51 percent over the next five years, making this an attractive time to invest in the area.
Office and Retail in Historic Downtown Savannah
Investors on RealtyMogul.com contributed $1.1 million in equity funding for the $7.5 million acquisition and renovation of 100 Bull Street, a 54,954-square-foot office and retail property in the commercial and tourist district in the heart of downtown Savannah, GA. Current retail tenants include Starbucks and Sperry-Topsider Shoes, while multinational corporation Regus is the office tenant. The sponsor will leverage the investment to perform renovations and lease the property’s vacant space. The property has in-place cash flow, with potential investor upside when the renovation plans are completed.
Well-Located Office Space in Florida
RealtyMogul.com provided joint venture equity for the $4.15 million acquisition of Cinnamon Tree Plaza, a 40,000-square-foot office property located in Tamarac, FL. The property is currently 86-percent occupied, with tenants including attorneys, marketing companies and medical servicing firms. The sponsor owns and manages over 669,000 square feet of office space in the South Florida market and intends to implement a new management plan and bring rents in line with market rates.
Preferred Equity for Single-Tenant Office in Ohio
RealtyMogul.com closed a $2 million preferred equity transaction to facilitate the acquisition of a 150,000-square-foot office property in Canton, OH. The space is 100-percent occupied by a single tenant, Synchrony Financial, a publicly-traded financial services company.
Joint Venture Equity for Single-Family Fund
RealtyMogul.com investors invested over $2 million in a single family fund. The fund currently owns single-family residential homes (SFRHs) throughout Southern California, Nevada and Georgia and will leverage the additional investment to acquire SFRHs under both “rent and hold” and “fix and flip” strategies. This is the second round of investments in the fund, bringing the total amount invested by RealtyMogul.com investors to over $3.5 million. The sponsor of the fund has previously invested more than $1 billion in over 6,000 SFRHs on behalf of institutional clients and private investors.
“Our investors have demonstrated an appetite for a range of real estate investments, and we’ve worked with high quality sponsors to offer an exciting variety of opportunities across geographies,” added Helman. “We are also increasing our investment amounts, demonstrating the growing importance of crowdfunding in real estate investing.”
RealtyMogul.com is an online marketplace for real estate investing, giving individual investors real-time access to commercial real estate and professional real estate companies easier access to capital. Through crowdfunding, RealtyMogul.com gives investors tools to browse investments, do due diligence, invest online and have 24/7 access to an investor dashboard to watch how their investments are performing. RealtyMogul.com partners with professional real estate companies to source investment opportunities and curates all of the investments. For these real estate companies, RealtyMogul.com offers JV and preferred equity as well as mezzanine and first position debt. For more information, visit www.realtymogul.com.