SAN FRANCISCO--(BUSINESS WIRE)--RealtyShares, a leading online marketplace for real estate crowdfunding, today announced that $1.2 million has been raised on the platform to help finance the purchase and rehabilitation of a 76-unit multi-family property in Jacksonville, Fla.
The apartment complex, sponsored by the Atlantic Beach firm The Klotz Companies, drew interest from 130 accredited investors. These individuals came from all across the country, allowing developers to connect with capital sources they might otherwise not have access to without the crowdfunding platform.
“This senior debt deal provides our investors with an opportunity to partner with a highly-experienced, vertically-integrated Florida-based owner-operator as they complete the renovation and lease-up of a currently vacant multifamily apartment complex,” said Anthony Dagati, Business Development at RealtyShares. “We’re very pleased to have completed our first transaction with The Klotz Companies. RealtyShares continues to view the Jacksonville area favorably, and are actively seeking new debt, equity, and full capital stack opportunities across a variety of asset classes within the submarket.”
Klotz has completed over 200 real estate transactions representing over 20,000 multifamily units valued at over $1 billion. The group focuses on distressed, value and opportunistic assets specifically located in the Southeast U.S. While it’s the first crowdfunded project for Klotz, this 54,400 square foot Almeda Street property is one of many funded by RealtyShares in Jacksonville. In June, RealtyShares released that it had raised more than $28.1 million in Florida, with over half of that coming in the Jacksonville area.
RealtyShares is transforming the real estate investment landscape by connecting borrowers and sponsors to debt and equity capital from accredited and institutional investors, across an array of financing products. Through the RealtyShares website, these investors can browse investment opportunities, perform due diligence, invest online and have 24/7 access to an investor dashboard to watch how their investments are performing. RealtyShares offers equity securities through North Capital Private Securities Corporation, member FINRA/SIPC. For more information on how to become a real estate investor or to seek capital through the RealtyShares marketplace, please visit www.realtyshares.com.