RealtyMogul, an online capital markets portal for real estate investing, announced today that it had successfully completed its equity capital raise for a multi-tenant medical office building in a large metropolitan area in Texas. RealtyMogul’s accredited investors used its peer-to-peer marketplace to help purchase the property.
Jilliene Helman, CEO of RealtyMogul, stated:
“This transaction marks our first with a medical office property. The complex represented an opportunity for our investors to participate in a prestige project in this new market sector with potential value-add leasing upside through a planned capital improvement program. The building is located in a medical sub-market with a high concentration of healthcare facilities and the demand for medical services there is similar to that throughout the country. The transaction presented an opportunity to invest in a medical office property located in a robust market alongside a strong sponsor with extensive medical office experience.”
The business strategy calls for a capital improvement plan and to use both in-house and local leasing teams to manage tenant rollover and lease up currently vacant space.
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