Real estate crowdfunding platform RealtyShares announced on Tuesday its crowd of investors have funded another Columbus, Ohio property.
According to the funding platform, $1.5 million went towards Cardinal Creek Townhomes, a 192-unit multifamily complex in Bexley, which is a suburb of the state’s capital. The deal was sponsored by investment firm, Hamilton Real Estate Capital, and more than 75 investors took part in the campaign.
Sharing details about the campaign, Eli Glanz, Principal at Hamilton, stated:
“We believe this project will provide our investors with an attractive return profile given the risk. Working with RealtyShares has given us access to a new group of investors in a straight-forward and quick process. We felt the amount of equity needed and the rationale for the investment was the perfect fit.”
Bryan Shultz, Vice President of Commercial Equity at RealtyShares, added:
“Columbus, and Bexley in particular, is seeing tangible rent growth and a falling vacancy rate with minimal new inventory slated to open. The Cardinal Creek Townhomes location is intriguing, with close proximity to major employment centers and adjacent to a new school and sports complex. The property already boasts a high occupancy rate, with more than 70 percent of the units recently renovated. Most importantly, our investors are often compelled by strong track records, and Hamilton has owned or advised on over $350 million in assets like this since 2005. It is an ideal partner for a deal like this.”
The RealtyShares investor community raised $1.5 million for the Courtyard by Marriott Columbus West in Columbus just two months ago. According to the funding platform, the hotel offers a 150-room, upscale hotel focused on business travelers. The facility features 8,790 square feet of meeting space among eight rooms, as well as a grand ballroom that can accommodate up to 300 guests for weddings and other events.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!