Reg A+ Impact Housing REIT is Qualified by SEC. Seeks $35 million

Impact Housing REIT, LLC (ImpactHousing.com), an apartment real estate investment trust has announced its Reg A+ offering to raise up to $35 million has been qualified by the SEC. Backed by crowdfunding platform CrowdStreet‘s technology, the offer is now open to investors – both accredited and non-accredited, domestic and international. Individuals may participate for as little as $1000. Investors may expect to receive quarterly distributions based on market returns. The Fund’s term is said to be 5 years.

Impact Housing is the creation of Edward ( or Eddie) P. Lorin, a 30-year multifamily real estate veteran. Over the last 15 years alone, Lorin and companies in which he is a principal have acquired approximately 170 multifamily residential properties with a total of approximately 40,000 units worth an aggregate $3 billion. The team says in the past it has achieved, on average, 95% stabilized occupancy upon completion of renovations on new acquisitions, and attribute success to a variety of factors including and most notably, strong local relationships with real estate brokers, servicers, lenders, and property managers.

Lorin explained his vision for Impact Housing:

“In my 30+ years of experience in multifamily real estate, upgrading neglected properties and turning them into thriving communities has proven to enhance residents’ lives, increase retention and referrals, and reduce vacancy. When you give people a nice home and community that’s affordable, they tend to be happier. They stay, pay and refer their friends. This goes directly to our bottom line and has allowed us to deliver to our investors not only a good financial return, but also a good social return. It’s a win-win.”

The company believes that poor housing conditions due to a rising economy, extreme weather conditions, and poverty is effecting the country, as a whole. Impact Housing is said to be the first REIT in the country using the new investment crowdfunding laws to focus on America’s housing crisis, specifically on creating affordable, livable, distinctive multifamily communities for America’s working people and their families.

Impact Housing plans on buying neglected, poorly managed apartment buildings throughout the US. The company will then refurbish them into thriving, healthy, family-oriented communities.

Additionally, Impact Housing says it has partnered with the HAPI Foundation (Healthy Apartment Property Initiative), a 501(c)(3) organization, and together will provide free after school programming (including a free healthy meal when possible), health and wellness education to the resident children and their families.

CrowdStreet is helping boost the offer by providing access to its established network of over 25,000 investors the ability to directly invest in Impact Housing REIT using their Marketplace.

Impact Housing REIT marks the second real estate investment opportunity open to CrowdStreet’s entire network of investors, both accredited and unaccredited.

Lorin added that the ability for Impact Housing to utilize new crowdfunding laws to circumvent the middleman and bring more efficient financial returns directly to everyone is remarkable to say the least.

“The more money raised through the Impact Housing REIT offering, the more we can meet the shortage of decent workforce housing that’s affordable in our country and deliver market rate returns to our investors,” said Lorin. “We are thrilled to partner with CrowdStreet in this initiative. CrowdStreet’s technology platform provides us with the confidence needed to both fundraise online at scale, and then effectively and efficiently manage the investors for the duration of their investment. The unique ability to solicit new investors, transact offers, and efficiently manage hundreds of subscribed investors, all using a single platform, makes CrowdStreet an essential part of this Regulation A offering.”

Tore Steen, CEO of CrowdStreet, said they look forward to making the offer visible and accessible to more than 100 million eligible US investors.

 

 

 

 

 

 

 


 


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