Real estate crowdfunding platform PropFunds has just funded a bridge loan of $750,000 for a luxury home development in Hidden Hills, CA. According to the company the loan to value does not exceed 65% and the annualized return to the investors should be 11.25%. The investment was made in one of the Southern California region’s hottest real estate markets.
“We are pleased by the positive response and high level of interest in our crowdfunding investment opportunities,” said Jim Aldrich, CEO and Founder of PropFunds L.P. “This is yet another investment that is an example of generating Above Market Returns While Incurring Below Market Risk.”
PropFunds is positioning its platform to target properties ranging up to $10 million – an area ignored by institutional investors.