Commercial real estate crowdfunding platform ArborCrowd announced last week a new offering today that allows investors to acquire equity interests in Biscayne 112, a Class-A, ground-up development located at 11200 Biscayne Boulevard in North Miami. According to ArborCrowd, the offering presents an opportunity for investors to get in on the ground floor of Miami’s blossoming suburbs, which continue to evolve as high prices in Downtown Miami are pushing renters farther from the city center.
“An affiliate of Arbor Management Acquisition Company LLC (AMAC) is the project’s sponsor, and — along with ArborCrowd — is a member of The Arbor Family of Companies. Affiliates of the sponsor have funded more than 85 percent of the total equity of the deal. ArborCrowd now seeks to raise $5.15 million from investors for the remaining equity, which has been prefunded into the project by an affiliate of ArborCrowd.”
While sharing more details about the offering, ArborCrowd Co-Founder and COO, Adam Kaufman, stated:
“North Miami is an attractive place to live as it is a short commute to Downtown Miami, is in a school district with multiple top schools, and is seeing a surge of investment into the community. However, it is notably lacking in vacant multi-acre development parcels, which makes a project like ours both scarce and highly desirable. Biscayne 112 is one of the only large-scale, multifamily developments under construction in the area, which provides a competitive advantage as the sponsor seeks to capitalize on strong renter demand for luxury product while offering an expected 20 to 30 percent discount to rents in Downtown Miami.”
Biscayne 112 is notably ArborCrowd’s ninth offering since its inception. In total, ArborCrowd has raised nearly $25 million of equity for assets with a total capitalization of roughly $270 million and to date, ArborCrowd has returned almost $6 million to investors.
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