NEW YORK--(BUSINESS WIRE)--First RealFund (“FRF”) has raised $600,000 of preferred equity financing for an apartment building undergoing a renovation and upgrade in Brooklyn’s Clinton Hill neighborhood.
The Sponsor, Duke Properties, owns a portfolio totaling more than 400 rental units with a geographic focus centered around New York City. “We target value-add properties in emerging neighborhoods and we apply innovative and effective renovation strategies based on our 15+ years of experience,” observed Albert Dweck, CEO of Duke Properties. “Our goal is to increase the value of our buildings while contributing to each neighborhood.”
Josh Lewski, co-founder of First RealFund noted, “Duke’s deal sizes, local expertise, and investment strategy align very well with today’s crowdfunding marketplace. As co-investors in every offering, we consider Duke Properties a high-caliber sponsor with compelling historical performance.” Dan Drew, CEO of First RealFund added, “We are pleased to able to share offerings like this that meet our underwriting criteria and allow us to fulfill our mission.”
“First RealFund has done an outstanding job on this capital raise, and we are looking forward to working with them again soon,” added Mr. Dweck.
About First RealFund LLC
First RealFund is a commercial real estate crowdfunding platform headquartered in New York City. Their mission is to identify, offer, co-invest, & manage professionally vetted commercial real estate investments. The online platform provides qualified, accredited investors opportunities to co-invest. To request access, visit http://www.firstrealfund.com.
About Duke Properties
For the past 15 years, Duke Properties has successfully delivered compelling results through the acquisition, ownership, and optimization of real estate within 90 miles of New York City. Our focus is multifamily residential real estate, and we own and manage several hundred units in the New York metro area. We currently concentrate on emerging markets where we seek to maximize properties’ utility and create positive cash flow. http://www.dukeproperties.com