Realty Mogul is continuing their push into exciting real estate markets around the county. The latest market to see activity from the equity crowdfunding platform is Los Angeles, where five multi-family properties – 141 units in total – were just crowdfunded.
We have many accredited investors from around the world that are interested in investing in the Golden State. This latest group of apartment buildings now joins the $85 million worth of properties we’ve already helped to fund nationwide.Jilliene Helman, Co-founder & CEO – Realty Mogul
The apartment buildings will be acquired by a consortium led by principals of Crawford Park Financial and Apts Mgmt, LLC. They are located in Los Angeles’s Baldwin Hills neighborhood, described as a “vibrant neighborhood with numerous redevelopment projects currently planned or under construction.”
“This kind of property – available at below replacement cost, in need of some renovation but located in a supply-constrained market – is a focus of our company,” said Mark Crawford, president of Crawford Park Financial. “We expect to add value by repositioning the property through building improvements and professional management, which we anticipate will also act to increase the property’s cash flow. We were very pleased to work with Realty Mogul in this endeavor. They were professional, added value to the process, and we look forward to working with them again.”
Those units will now be repositioned thanks to a host of improvements and new professional management. The plan includes an energy savings program and other renovations. “We believe that the strategic renovation and rebranding program proposed by Crawford Park Financial and Apts Mgmt can bring the facility up to standards consistent with other properties in the surrounding marketplace,” said Helman.
To date Realty Mogul has facilitated over $12.2 million in investments in 54 properties worth a total of $85 million.
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