Sunday, February 19, 2017

Top Real Estate Crowdfunding Projects in 2014

17 John Street – New York Platform:

Prodigy Network Amount Raised: $85.3M ($25M crowdfunded) Closed: September 2014

The initial crowdfunding campaign for 17 John Street helped raise funds for the building’s purchase in August. The building, which is only one block away from the World Trade Center, is now being converted into an extended stay hotel.

Prodigy Network is currently looking to raise another $70 million to add a glass addition to the building.

Cumberland Metro – Illinois Platform: Realty Mogul Amount Raised: $18.5M Closed: November 2014 This campaign raised money for a large office park acquisition by Bren Brennan Investment Group.

The complex is made up of 12 single story-buildings near the Chicago O’Hare International Airport.

Brennan Group is now in charge of implementing property management, a leasing program, and making improvements to the property.

90-94 Fulton Street – New York Platform: iFunding Amount Raised: $250M ($8M crowdfunded) Closed: January 2014

Mavrix Group will be the developer for the new condo towers going up at 90-94 Fulton Street.

This project is notable because it is not only iFunding’s largest project to date, but also their first in New York.

The tower is expected to be as large as 250,000 square feet and approximately 75 stories.

Parc Bordeaux Apartments – Indiana Platform: Realty Mogul Amount Raised: $8.7M Closed: December 2014

Parc Bordeaux Apartments is a multi-family property that raised funds in exchange for equity on Realty Mogul.

Minimum investments on Realty Mogul start from $5,000. AKA United Nations – New York Platform: Prodigy Network Amount Raised: $68.5M ($10M crowdfunded) Closed: September 2014

The AKA United Nations raise was a joint venture between Prodigy Network and Korman Communities.

They will be renovating the 95 unit, 20 story building at 234 East 46th Street that consists of luxury furnished residences, a lobby lounge, health and fitness center, conference area, and more.

Hamptons Luxury Waterfront Residence – New York Platform: Fundrise Amount Raised: $1M Closed: September 2014

This was Fundrise’s first investment in the Hamptons.

This property was under construction with real estate development company, Chatham Development, and the platform expects it to attract luxury homebuyers.

Plaza at Riverlakes – California Platform: Realty Mogul Amount Raised: $17.3M Closed: December 2014 Plaza at Riverlakes was an equity purchase for a retail shopping center in Bakersfield.

Mainstreet Bloomington – Indiana Platform: CrowdStreet Amount Raised: $1.6M Closed: July 2014

Mainstreet Bloomington is a new senior care development project by Mainstreet, a company that develops short-stay rehabilitation centers and long-term care properties.

The project raised $1.6 million in a four week period, a record for crowdfunding in health care real estate.

Investors are expected to earn a 14 percent annualized yield. 290 and 294 Harman Street – New York Platform: Fundrise Amount Raised: $1.8M Closed: October 2014

This Fundrise project was for a multi-family property that was acquired by Cayuga Capital Management.

The plan was to renovate the four adjacent apartment buildings to bring rent up to market price.

Lakeside at Town Center Apts – Georgia Platform: Realty Mogul Amount Raised: $38.2M Closed: October 2014 Lakeside at Town Center is a 358 unit apartment including a tennis court, playground, fitness center, and more.

The deal was sponsored by Arenda Capital Management, and according to Realty Mogul’s CEO, it is the first ‘Class A’ property they have funded.


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