Real estate crowdfunding platform, Fundrise, announced on Thursday the launch of its first Florida real estate investment opportunity, a 13,000-square-foot, mixed-use development in Wynwood, Miami in conjunction with Atlas Real Estate Partners.
Accredited investors from around the country will be able to invest in project payment dependent notes tied directly to “2301 North Miami Avenue” on Fundrise’s platform, which makes quality real estate investments available to both high net worth and small-scale investors.
2301 North Miami Avenue is a recently renovated, mixed-use development located in Miami’s emerging Wynwood neighborhood. The property is 50% leased with the remaining two leases out for signature, which will bring the building to 100% occupied. The property has received interest from high-quality, design, artistic, and creative tenants, who are attracted to the relative affordability of the area as well as the artistic vibe of the neighborhood.
Co-founder of Fundrise Dan Miller stated,”Today we announce the launch of our first Florida offering in partnership with Atlas Real Estate Partners. In addition to being one of the fastest growing neighborhoods in Miami, the Wynwood Arts District is a hub for creative innovation and we look forward to supporting the growth of the community.”
Wynwood, dubbed “Soho South,” is a small, industrial area in downtown Miami that is quickly becoming one of the city’s most popular neighborhoods. 2301 North Miami Avenue sits at the heart of the district, which includes over 70 galleries, retail stores, antique shops, and one of the largest open-air street-art installations in the world.
On why Atlas Real Estate Partners decided to crowdfund a portion of the project’sfunding, Managing Principal Arvind Chary commented, “We’re excited to allow retail investors to play a role in and benefit from the growth of Wynwood. Atlas prides itself on creating projects that spur community growth and the Fundrise model of crowdfunding investment, particularly for innovative projects, fits well with our mission.”