SAN FRANCISCO--(BUSINESS WIRE)--RealtyShares, a leading online marketplace for real estate investing, today announced the close of the company’s largest commercial real estate debt transaction to date. The deal was innovatively structured to include capital sourced from RealtyShares’ institutional investor network as well as its real estate crowdfunding marketplace.
A total of $11.9 million was sourced via RealtyShares for the acquisition and partial recapitalization of a 10-property portfolio of student housing in Seattle, WA. The properties are located within 1.5 miles of the University of Washington, a campus of 54,000 students. Entirely within the city of Seattle, this student housing portfolio is attractively located in one of the highest growth housing markets in the United States.
“We are very pleased to have provided financing for the Seattle Student Housing Portfolio,” said Anthony Dagati, Director of Commercial Real Estate Debt Originations at RealtyShares. “RealtyShares was able to leverage its institutional capital relationships, together with its growing accredited investor base, to provide $11.9 million of structured debt–our largest Commercial Debt raise to date—in a tight timeframe. We hope to close many similar transactions nationwide in 2017.”
This deal highlights RealtyShares’ ability to offer investment opportunities in a diverse selection of asset classes, as well as its nimble and creative approach to sourcing capital. With the majority of the total loan contributed by one of RealtyShares’ private equity partners, the company was able to offer its network of accredited investors the opportunity to participate in an attractive multiproperty student housing debt transaction.
RealtyShares is bringing marketplace investing and lending to real estate and building an ecosystem around it. By infusing technology into the real estate industry, the company connects investors with pre-vetted real estate operators across the country looking to raise capital. To date, the RealtyShares network of investors has funded upwards of $300 million across more than 550 investment opportunities on the platform, funding residential and commercial projects in 35 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 gain 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.