On Tuesday, real estate crowdfunding platform RealtyShares announced California is a hot real estate market for its crowdfunding investors. This info was released in the website’s latest report on the state’s funding projects.
RealyShares revealed that California borrowers and sponsors had raised more than $53 million across 90 properties within the state. These projects notably range from residential fix-and-flips to multi-family and commercial value-add investment opportunities, providing the website’s over 20,000 investors with a diverse set of deals. Sponsors reportedly secured funding for 16 commercial equity projects, led by a $1.75 million multi-family property in the Bay Area and a retail center in Sacramento that drew interest from 25 investors, including seven from the state. The Los Angeles area carries the crown for the most active metro, with 46 deals funded for more than $28.8 million.
Brian Esquivel, director of equity investments at RealtyShares, commented:
“Good buys have been hard to find considering the substantial demand for California real estate. By leveraging the crowd, we still have the ability to vet attractive investment opportunities across the state as sponsors look for alternative ways to fund their projects.”
Esquivel noted:
“Our commercial equity pipeline is growing at a good rate. We have seen a lot of opportunity for a low cost, flexible, sub-institutional equity product across the country, and real estate crowdfunding platforms like RealtyShares are in a unique position to fill that gap. Working with sponsors, we can craft equity deals where our community can contribute either 90 percent of the equity requirement or sit side-by-side with other investors on the project.”
He then added:
“Our value to commercial real estate owners and operators in California should only increase as our platform and capabilities grow, giving investors an even greater selection of investment opportunities across a variety of products, asset classes, and geographies.”
Currently, there were 68 residential opportunities on RealtyShares’ platform, split between debt and equity offerings. The website confirmed last month $28 million raised across the state of Florida. See full details below.
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