CrowdStreet, a real estate investment platform, says they are expanding opportunities for individual investors in spite of the ongoing market volatility and rising interest rates. Simultanesoulsy, CrowdStreet says they are hiring several new executives to better manage their growing offerings.
In 2021, CrowdStreet raised $1.2 billion from individual investors and the company predicts more growth in 2022.
CrowdStreet points to its 2022 Investor Benchmark Survey, which revealed that 98% of respondents plan to make at least one private equity real estate investment in 2022, while 65% plan to invest less in stocks and bonds. CrowdStreet states that 2021 saw its largest investment year since 2014 and so far this year the investment platform has surpassed 100 deals.
Since 2014, CrowdStreet states that it has closed more than 645 online real estate syndication deals, with 115 of them fully realized as of May 2022.
CrowdStreet co-founder and CEO Tore Steen commented in a release:
“We were innovators when we brought CrowdStreet’s online marketplace to retail investors. No one else was offering the same breadth and depth of meticulously evaluated deals for all property types—multifamily, office, hotel, industrial and more. But to meet increased investor demand for strong private real estate opportunities, it’s critical to keep developing and implementing groundbreaking, state-of-the-art products and solutions.”
CrowdStreet offers investment opportunities for both multi-family and commercial properties, catering to individual investors who are accredited.
To better manage the platform’s anticipated growth, CrowdStreet has hired two new executives: John Farda as chief product officer and Scott Mackley as president of marketplace business.
Farda was most recently the managing director of North America for global foreign exchange trading platform OANDA, where he headed growth in the United States and Canada. Before that, he was an executive at Fidelity Investments and at ETRADE, spearheading the development and optimization of fintech products for both of those market leaders. Farda will focus his team’s efforts on CrowdStreet’s tech-enabled Marketplace.
Mackley will provide “focused leadership” as CrowdStreet grows, heading up capital markets, investments, strategic partnerships, marketplace operations, investor relations and internal sales. Mackley was previously at QuinStreet, Citigroup, and Salomon Brothers as well as consulting Fintech firms. Mackley will also oversee all aspects of CrowdStreet’s private equity commercial real estate deals, from prospecting and sourcing deals to preparing them for launch on the Marketplace to supporting fundraising.
“Given their past accomplishments at innovating fintech and marketplace businesses, John Farda and Scott Mackley will help us continually evolve our investor and sponsor experience with our platform,” commented Steen