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In the waning days of summer 2022, we’re back with your favorite real estate crowdfunding news. This week, we’ve got several must-see new deals, including a 100%-Occ Value-Add Multifamily in One of North Carolina’s Strongest Rental Markets over at CrowdStreet, as well as the Independence Timber Tract over at AcreTrader, which is now open for investment.
We’ll also look at a quick treatise on real estate and NFTs and the announcement of pre-demolition work starting on Irondale at Wharton, a 60-unit condo project in New Jersey built by sponsor Diversified Properties Inc.
Concluding the newsletter, we’ll look at two new real estate crowdfunding-related podcasts, How To Find Good RE Syndication Opportunities with Casey Brown and Real Estate Investment through Home Equity with Matthew Sullivan.
Let’s get into it.
New Crowdfunding Platform Deals
The Regency Apartments at CrowdStreet is a 100%-Occ Value-Add Multifamily in One of North Carolina’s Strongest Rental Markets. Chandler Residential is a repeat sponsor on CrowdStreet’s marketplace. This project marks their 4th acquisition in the fast-growing Fayetteville marketplace, totaling 800 units in the market, with three properties within a mile of the Regency and the fourth about 2 miles away.
The sponsor is currently under contract to acquire the Regency Apartments for $27,200,000, or 146k per unit. Since the start of 2021, 1990-built, or newer, apartments have averaged $173,578 per unit, based on a 5.50% go cap rate. The targeted investor IRR for this deal is 18.3%, with a targeted equity multiple of 1.9x and a targeted average cash yield of 6.6%. Take a look for yourself on CrowdStreet, here.
Let’s head over to RealtyMogul, where the platform is streaming a live webinar on Aug 30, 2022, at 09:00 AM in Pacific Time (the US and Canada). This webinar will be a deep dive into the Baypoint Apartments, a one-of-a-kind, value-add community that sits on the water in Oso Bay, Corpus Christi, Texas. The 350-unit multifamily property was built in 1998 and shows significant potential for value add through renovations and streamlined management. Register for the webinar on RealtyMogul, here.
General Crowdfunding Industry News
NFTs, or non-fungible tokens, have occupied quite a bit of space in news articles, blogs, Youtube channels, and financial media. These tokens are digital assets that are unique and cannot be replaced. NFTs are often used to represent items like art, collectibles, and in-game items. While NFTs have been around for a few years, they’ve recently exploded in popularity.
This is thanks in part to the growing popularity of blockchain technology and platforms like Ethereum that make it easy to create and trade NFTs. They’ve also got real use cases in the real estate space, with the potential to revolutionize how titles are exchanged, funding rounds are released, and several other new ways to crowdfund real estate. Learn more about NFTs and real estate with this insightful article from KY Inno, GUEST COMMENT: Why you can’t keep ignoring non-fungible tokens.
Crowdfunding Platform Updates
There’s a new update on Irondale At Wharton, a deal we’ve covered in the past, sponsored by Diverisifed Properties LLC and hosted on real estate investing platform RealtyMogul. The project, which is comprised of 54-market rate and 6 affordable units in Morris County, New Jersey, recently began pre-demolition work.
The soon-to-be-built condo building sits in Morris County, among New Jersey’s most desirable housing markets, with several large-scale employers nearby, including AT&T, Pfizer, Novartis, and more. Get a first look at Irondale at Wharton in this Yahoo Life update.
Multimedia Links (Videos, Podcasts, etc.)
Finally, we’re going to look at two new podcasts: How To Find Good RE Syndication Opportunities with Casey Brown and Real Estate Investment through Home Equity with Matthew Sullivan.
The first, How To Find Good RE Syndication Opportunities with Casey Brown, has host Axel Meierhoefer speak with Casey Brown, a real estate sales dynamo with more than 400 transactions under his built and sales in the millions. In the podcast, he shares his knowledge of underwriting, finding and managing cash flow, and locating the very best “diamonds in the rough” when it comes to real estate investments. Listen for yourself here.
Next up is Real Estate Investment through Home Equity with Matthew Sullivan, a discussion with QuantmRE founder and CEO Matthew Sullivan. This fintech freak got his start as a stockbroker, later moving to corporate finance. For almost a decade, and on the heels of the passage of the JOBS Act, he embraced real estate crowdfunding and built (with his team) a platform to help homeowners gain access to their equity and sell fractional shares of equity bundles to investors- making the equity in the home tradeable and investable. Learn more about the method to his madness on Listen Notes here.
That’s all we’ve got for now- but we’ll be back with plenty more news stories, platform updates, and new deals. Until then!
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