DC Real Estate Deal On Fundrise Off To Great Start, Approaches Crowdfunding Goal

fundriseFundrise recently announced their entry into the Washington DC real estate market as a crowdfunding intermediary. If deal number three is any indication, there is certainly some interest among the non-accredited crowd even as participation remains limited to investors in Maryland, Virginia and Washington DC.

The development plan for the vacant building in an up-and-coming neighborhood on 7th St NW required $1.5 million in capital. $350,000 of that was available via crowdfunding, and over $225,000 has already been raised from 225 investors.

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Development efforts are being spearheaded by WestMill Capital Partners. The principals of WestMill? Ben and Daniel Miller. Sound familiar? They’re also the founders of Fundrise.

At $100 per share, the average investor has scooped up about ten shares valued at $1000 total – hardly commercial real estate barons, but more likely to be average folks that are looking for some exposure to the ever-lucrative world of real estate investing.

The crowd’s principal investment will be tied up for at least five years. Returns are projected at 8% annually. If the sponsor elects not to return the initial investment after year five, that annual return begins climbing to as high as 16%.

Those interested in a piece of the deal should act fast, because at this rate this deal will close very soon.


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