Real estate crowdfunding platform Sharestates is poised to raise capital on SeedInvest. The offer is not yet live, but the listing points to indicated interest of $1.6 million for a Series A funding round of $3 million in preferred equity.
Sharestates’ mission is described as providing large volume of quality real estate investment opportunities to accredited and institutional investors. On the other side of the equation, Sharestates provides fast access to capital for borrowers. Investors may participate with a minimum investment of $1000 per loan. Sharestates investors averaged a 10.4% net return in 2015 and zero loss of principal.
Originations to date are pegged at $178 million making it one of the larger platforms in the US. Originations year to date (as of Q3) grew 38% versus year prior to $73 million. Net revenues on $82 million stood at $1.6 million. In March, Sharestates reported that it had returned $16 million to investors for more than 28 loans paid in full.
Sharestates will not be the first real estate crowdfunding platform to raise money on SeedInvest. PatchofLand followed a similar route back in 2014.
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