Real estate crowdfunding platform NexusCrowd, has hooked-up with Downing Street Realty Partners on a $12 million industrial real estate redevelopment project including three properties in the greater Toronto area. The project includes properties in Mississauga, and two in Toronto, totaling 110,000 square feet. The properties have already been purchased by Downing Street, and redevelopment began over a year ago. A company spokesperson indicated that the two Toronto properties had environmental contamination and are currently being remediated. The expected completion date of the project is September 2016. The total cost of the project is $12 million, with NexusCrowd raising $500,000.
“We are extremely pleased to welcome Downing Street as a partner,” stated Hitesh Rathod, CEO of NexusCrowd. “Downing Street has a long history of successful investment and management in the real estate development and redevelopment sectors. This partnership broadens our ability to offer high-quality investment opportunities to accredited investors with a reputable sponsor.”
Downing Street is an investment company that may act as both a principle and/or an independent advisor to clients in the real estate sector. Founded in 1986, Downing Street has acquired, repositioned and developed over 3 million square feet of commercial property across Canada.
“Partnering with NexusCrowd enables us to efficiently raise additional sources of capital, while leveraging the power of crowdfunding. Downing Street has an extensive track-record with redevelopment projects of this nature, and is pleased to partner with NexusCrowd to offer investors this latest opportunity,” stated Marc Canale, a Partner at Downing Street.
NexusCrowd is the first real estate crowdfunding platform in Canada allowing accredited investors access to the new asset class.
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