EarlyShares keeps moving forward in the real estate crowdfunding space. Today the platform has announced a new investment opportunity for a mezzanine loan from Pillar, a Guggenhiem Partners affiliate. The offer is described as “institutional quality” and is secured debt for the Racquet Club Apartments in Lancaster, California.
The offer is open to accredited investors at a minimum of $25,000. The loan pays a 9% return with a maturity date of December 6, 2019. Joanna Schwartz, co-founder and CEO of Early shares qualified the offer as unique for individual investors;
“EarlyShares is committed to working only with highly respected real estate developers, lenders, and investment firms – and Pillar is a sterling example,” said Schwartz. “Accredited investors can rarely participate in deals underwritten by lenders of Pillar’s caliber. We’re thrilled to be working with this Guggenheim Partners affiliate and we hope a wide array of investors will take advantage of this opportunity.”
Anand Gajjar, principal and CEO of Pillar said they were “very excited” to work with EarlyShares.
“We have deep experience in this type of commercial real estate asset, but we’ve typically only worked with institutional investors on these kinds of deals. Hosting this offering on EarlyShares will help us broaden our reach to new investors who have traditionally been unable to access institutional-quality investments,” said Gajjar.
EarlyShares launched in 2011 first as a rewards-based platform. Over the past several years, EarlyShares has offered early-stage investment opportunities in SMEs but as of 2014 has transitioned into a real estate crowdfunding platform, offering both debt and equity. Real estate has been one of the most successful sectors of the investment crowdfunding industry in the US.
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