LOS ANGELES–After becoming the first U.S. real estate crowdfunding platform to fully fund $200 million in transactions earlier this year, RealtyMogul.com announced today the closing of six recent transactions, including equity investments in commercial properties, mezzanine financing for an industrial conversion project and equity raises for two real estate funds.
“Our mission has always been to give regular investors broader access to the world of real estate investing,” said Jilliene Helman, CEO of RealtyMogul.com. “With each additional transaction, we’re opening the door a little wider.”
The transactions include:
Georgia Multifamily Complex with Appreciation Potential
RealtyMogul.com investors provided $950,000 in financing for the acquisition of Westchester Apartments in Decatur, GA. The property is comprised of 24 units of 840 square feet each, distributed across six buildings. The sponsor for the investment has over $300 million in assets under management, focusing on student housing, residential development and apartment buildings across the Southeast and Midwest. The sponsor plans to undertake renovations and capital expenditures on the property that are to coincide with rent increases.
Two Additional Raises of Joint Venture Equity for Single-Family Fund
RealtyMogul.com invested an additional $900,000 into a single-family fund over two funding rounds. These are RealtyMogul’s third and fourth rounds of investment in the fund, bringing the total amount invested by RealtyMogul.com investors to over $4.4 million. The fund currently owns single-family residential homes (SFRHs) throughout Southern California, Nevada and Georgia and intends to leverage the additional investment to acquire SFRHs under both “rent and hold” and “fix and flip” strategies. 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.
Indiana Multifamily Property with Growable Income
RealtyMogul.com invested $1.3 million in joint venture equity in Beechmill Apartments, acquired for $15.8 million by the sponsor earlier this year. The Indianapolis-area property consists of 256 apartments ranging from 661 square feet to 905 square feet. This is RealtyMogul.com’s fourth equity transaction with the sponsor, which has managed over $230 million in multifamily assets across the country. The sponsor has determined that the property is currently renting at below-market rates, and it intends to implement an improvement plan aimed at bringing rents in line with the market.
Debt Financing for California Property Acquisition and Conversion
RealtyMogul.com provided $3.9 million in mezzanine financing for the acquisition and conversion of an industrial property in Garden Grove, CA. After the acquisition, the property is to be converted into an 896-unit self-storage facility for a total cost of $15.1 million. This sponsor has designed, developed, owned and managed over 100 self-storage facilities.
Equity Raise for Mobile Home Park Fund
RealtyMogul.com invested $1.44 million in a mobile home park fund. The fund plans to invest in a diversified portfolio of cash-flowing manufactured housing communities (MHCs) across the country. The fund’s manager, a top-five owner and manager of MHCs in the United States, sees this as an opportunity with the potential for immediate cash flow as well as capital appreciation. The manager has identified 18 geographically diverse, undervalued MHCs for potential acquisition. This investment is still open for funding through our platform at RealtyMogul.com.
“We’re always excited to see the kind of potential we can unlock through crowdfunding,” added Helman. “Opportunities like these, which resulted from our ongoing collaboration with sponsors and investors, are testaments to what’s possible in a democratized real estate investing landscape.”
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 underwrites 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.
Equity securities are offered through North Capital Private Securities Corp., registered broker/dealer and member FINRA/SIPC.