RealtyMogul.com announced on Tuesday the closing of six recent transactions, including equity investments in commercial properties, mezzanine financing for an industrial conversion project and equity raises for two real estate funds.
“Our mission has always been to give regular investors broader access to the world of real estate investing. With each additional transaction, we’re opening the door a little wider.”
The transactions are the following:
- Georgia Multifamily Complex with Appreciation Potential: Investors offered $950,000 in financing for the acquisition of Westchester Apartments in Decatur, GA. The property consists of 24 units of 840 square feet each, distributed across six buildings. The sponsor for the investment reportedly has over $300 million in assets under management, focusing on student housing, residential development and apartment buildings across the Southeast and Midwest. The sponsor now plans to undertake renovations and capital expenditures on the property that are to coincide with rent increases.
- Two Additional Raises of Joint Venture Equity for Single-Family Fund: The crowdfunding platform invested an additional $900,000 into a single-family fund over two funding rounds. These are RealtyMogul’s third and fourth rounds of investment in the fund, bringing the total amount invested by investors to over $4.4 million. The fund currently owns single-family residential homes (SFRHs) throughout Southern California, Nevada and Georgia and intends to leverage the additional investment to acquire SFRHs under both “rent and hold” and “fix and flip” strategies. The sponsor of the fund has previously invested more than $1 billion in over 6,000 SFRHs on behalf of institutional clients and private investors.
- Indiana Multifamily Property with Growable Income RealtyMogul.com invested $1.3 million in joint venture equity in Beechmill Apartments, acquired for $15.8 million by the sponsor earlier this year. The Indianapolis-area property consists of 256 apartments ranging from 661 square feet to 905 square feet. This is RealtyMogul.com’s fourth equity transaction with the sponsor, which has managed over $230 million in multifamily assets across the country. The sponsor stated they have determined that the property is currently renting at below-market rates, and it intends to implement an improvement plan aimed at bringing rents in line with the market.
- Debt Financing for California Property Acquisition and Conversion: The website provided $3.9 million in mezzanine financing for the acquisition and conversion of an industrial property in Garden Grove, CA. After the acquisition, the property is to be converted into an 896-unit self-storage facility for a total cost of $15.1 million. This sponsor has designed, developed, owned and managed over 100 self-storage facilities.
- Equity Raise for Mobile Home Park Fund: RealtyMogul.com invested $1.44 million in a mobile home park fund. The fund plans to invest in a diversified portfolio of cash-flowing manufactured housing communities (MHCs) across the country. The fund’s manager, who is a top-five owner and manager of MHCs in the U.S., sees this as an opportunity with the potential for immediate cash flow as well as capital appreciation. The manager has also identified 18 geographically diverse, undervalued MHCs for potential acquisition. This investment is still open for funding on RealtyMogul.com.
Helman went on to add:
“We’re always excited to see the kind of potential we can unlock through crowdfunding. Opportunities like these, which resulted from our ongoing collaboration with sponsors and investors, are testaments to what’s possible in a democratized real estate investing landscape.”
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