SAN FRANCISCO--(BUSINESS WIRE)--Today RealtyShares, announced that $5,144,000 has been raised through its real estate crowdfunding marketplace for the acquisition and development of four free-standing triple net (NNN) leased quick service restaurants in Nashville, Tenn. RealtyShares recently launched a new financial product tailored to provide financing for the development of net-leased assets on long-term leases.
The tenants, which include three Checkers and one Taco John’s, each raised more than $1 million through the RealtyShares platform at an 80 percent Loan-to-Cost (LTC) ratio. All were fully funded within two weeks of being featured on RealtyShares’ online marketplace, demonstrating the crowd’s strong interest in this type of deal.
“We are very pleased to have provided senior financing for the acquisition and development of four triple net leased quick service restaurants in the Nashville MSA,” said Anthony J. Dagati, Director of Commercial Debt Investments at RealtyShares. “Our network of accredited investors demonstrated strong demand for first position debt at an attractive leverage point and yield-to-cost.”
All four deals were acquired by an experienced Sponsor, and each transaction featured a long-term NNN lease. As NNN leases, the tenants are fully responsible for paying the cost of Common Area Maintenance (CAM), Real Estate Taxes, and Insurance, and, as a consequence represent possible attractive investment opportunities for passive investors and 1031 exchange buyers. Together with high-traffic location of the buildings, active retail environment and growing market trends in the Nashville area, these factors make the deals potentially attractive to investors.
To date, the RealtyShares network of investors has funded upwards of $200 million across more than 400 investment opportunities on the platform, funding residential and commercial projects in 31 states.
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. Private investments are highly illiquid and risky and are not suitable for all investors. 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 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.