Members of the real estate crowdfunding platform, RealtyMogul, collectively invested over $10 million in less than 24 hours to fund the development of Haven at Charlotte, a 369-unit luxury high-rise apartment community in Nashville, Tennessee.
The sponsor of the Haven at Charlotte development, Guefen Development, is a vertically integrated real estate development and construction company with a focus on multifamily ownership, development and construction. The company has been involved in a wide variety of projects totaling over 7,000 Class A multi‐family units and more than $1 billion in total investment.
How Crowdfunding is Changing Commercial Real Estate Finance: The speed of funding for a deal of this size demonstrates a shift in how developers and investment firms are raising capital for institutional quality real estate projects. Investors on RealtyMogul’s platform are able to pool resources to offer financing options that are often superior to traditional sources of capital like private equity firms.
It’s a win-win scenario for the companies seeking capital and the investors on the platform. Individual investors are gaining access to deals that have traditionally been reserved for institutional investors and that provide greater potential returns over many other traditional investments.
“This has been one of the most exciting deals we’ve ever seen on the RealtyMogul Platform,” said CEO Jilliene Helman. “The rapid growth of the Nashville metropolitan area is fueling tremendous demand for Class A multifamily units, and the growing scale of RealtyMogul’s community of accredited investors have combined to make this financing one of the most successful – and rapid – that we’ve ever been involved with.
“I think this marks a turning point for our Platform, in which we are becoming an alternative source of capital on par with any of the nation’s leading private equity firms.”
About RealtyMogul: RealtyMogul is an online real estate investing platform that provides retail investors exclusive access to thoroughly vetted opportunities, rigorous underwriting, and high-touch customer service through licensed investment professionals.
In addition to private-placement deals offered to accredited investors through their platform, RealtyMogul operates REITs that are accessible to anyone. Its members have invested in properties with a combined value exceeding $3.5 billion with ownership stakes in over 18,000 multifamily units and a range of commercial properties.
You can learn more about investment opportunities on RealtyMogul’s platform here.
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