DiversyFund, a real estate crowdfunding platform that connects accredited investors to high-quality pre-vetted real estate investment opportunities, announced its most recent funding of an equity investment offering for a single family residence located in the heart of La Jolla, California. The Operator, Mavrix Group, is a privately held real estate development firm that specializes in investments and the transformation of properties.
Founder and CEO of DiversyFund, Craig Cecilio stated, “Erin Wicomb and Joseph Ferrigno, visionaries of The Mavrix Group, have successfully flipped over 50 high luxury properties since inception and manage real estate holdings that are valued over $10MM. We are excited to be partnering with this team and taking part in this investment opportunity. The property is located in a strong economic market that has shown decades of sustainable growth. It’s a slam dunk.”
Through DiversyFund’s crowdfunding platform, The Mavrix Group was able to raise $1.055 million to renovate a 6 bed / 7.5 bath property that sits on a 20,495 Sq ft. lot in La Jolla, CA. Investors will receive a preferred return and a percentage of the profits expected to exceed 20%.
The Mavrix Group has been a long time referral partner of DiversyFund’s parent company, CCFG Investments. After over a decade of experience in real estate investing, CCFG launched DiversyFund in January of 2014 with the vision to create an easier process for current accredited investors to review live investment offerings as well as tap into new individual and institutional investors looking to invest in high-quality real estate investments.
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