On Friday, real estate crowdfunding investment platform EarlyShares launched a new offering from Investco, a Pennsylvania-based real estate investment firm.
The Philadelphaia Multifamily Fund II, which features an 8 percent preferred return paid quarterly, gives accredited investors the opportunity to purchase equity shares of a fund to acquire multifamily properties in the Philadelphia metropolitan area.
The investment opportunity has an expected 5-year hold period and can be accessed for a minimum investment of $20,000. It features 15.3% estimated IRR and 10 percent estimated cash-on-cash. Investco is raising up to $1.6 million for the fund from investors on EarlyShares.
All properties for Philadelphia Multifamily Fund II have been identified, and the sponsor is investing up to 20% in the fund and personally guaranteeing the loan. The Philadelphia metropolitan area boasts a stable product, with historically high occupancy, and the properties selected pose significant opportunity for rent growth through targeted enhancements.
This opportunity is the second commercial real estate capital raise Investco has conducted on the EarlyShares platform. In May, Investco successfully funded a $512,850 transaction for the Philadelphia Residential Fund. Jennifer McLean, Managing Member of Investco, stated:
“Our team at Investco is very excited to be returning to EarlyShares to crowdfund our latest real estate deal. We have deep experience working with multifamily assets in the Philadelphia area, and we’re thrilled to be offering this results-focused fund to investors across the U.S.”
Joanna Schwartz, co-founder and CEO of EarlyShares, added:
“EarlyShares is committed to working only with highly respected real estate developers, lenders, and investment firms – and Investco is an excellent example. We’re glad to call Investco a repeat customer and we look forward to helping them close this capital raise quickly and efficiently through our state-of-the-art platform.”
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