Real Estate Crowdfunding Platform Realty Mogul Completes Shopping Center Offering

Realty Mogul has shared that it has successfully closed the crowdfunding offer for the Barstow Shopping Center, a REALTY MOGUL JILLIENE HELMAN110,100 square foot Vons-anchored retail center located in Barstow, Calif.

“With the completion of this offering, the company has enabled individual investors to participate in another significant investment property opportunity in California,” said Jilliene Helman, Realty Mogul’s CEO. “Many of our investors, both inside and outside the state, are highly interested in investing in California commercial real estate.”

The project sponsors, led by U.S. Realty Partners and Compass Acquisition Partners, intend to acquire, reposition and lease up the shopping center before reselling it. The center, anchored by Vons Supermarket, a wholly owned subsidiary of Safeway, is home to several large national retail tenants, including 99 Cents Only Store, Big 5 Sporting Goods, Radio Shack and Allstate Insurance.

“Barstow’s steady employment growth and important role as a major Southern California transportation corridor made the center a very attractive property to us,” said Jay Kerner, CEO of U.S. Realty Partners.

REALTY MOGUL, CO.The purchase price of the center was $8 million. Realty Mogul raised and funded $760,000 through the company’s online marketplace.

U.S. Realty Partners and Compass are overseeing all aspects of the investment, including acquiring and operating the property, completing a strategic repositioning and lease-up program, and ultimately selling the asset. They intend to complete a minor facade upgrade to the existing tenant spaces to modernize the center. They will secure tenants for vacant space with a dedicated local leasing agent and focused property management team.

“Equity crowdfunding this type of real estate investment — a commercial shopping center with several national retail tenants — is at the heart of Realty Mogul’s mission of providing accredited investors with access to quality real estate investments that previously might have been unavailable to them,” said Helman. “And working with trusted sponsor partners like U.S Realty Partners and Compass Acquisition Partners enhances our ability to deliver that service to our members.”

Helman suggested that Realty Mogul will continue to look at retail shopping properties as well as other sectors of commercial real estate.  The site crowdfunded their first shopping center in November of last year.

“We like commercial real estate asset classes such as retail shopping centers and self-storage facilities,” she said. “But, ultimately, as long as a potential investment has strong cash flow characteristics, we’re interested in almost any property type. Our goal is to provide enough inventory to our investors so that they can self-select their portfolio and diversify across various market segments within the world of real estate investing.” 

Realty Mogul has had over $18 million invested via their crowdfunding platform.  Total cost of properties stands at $116 million from 67 different properties.

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