What Southwestern City Topped CrowdStreet’s Annual 20 Best Places to Invest in Private Equity Real Estate list?

CrowdStreet recently identified their 20 best places to invest in private equity real estate this year- can you guess who is going to be number one? Read on to find out. 

New Crowdfunding Platform Deals

Before we get to the #1 real estate market as crowned by CrowdStreet,  let’s look at some new deals.

The Ascent, sponsored by Bookends North, is 72% funded out of its total target of $5,305,000. We’ve covered the ascent in a previous issue of the newsletter- it stands out for its unique construction material- timber, and the Ascent is set to be one of the tallest timber buildings in North America, coming in at 25 stories and 259 luxury units. If you’re interested in this opportunity, check it out at RealtyMogul before it fills up

We’ve also got a new offering from CrowdStreet for your viewing pleasure, the St. Pete Marriott Moxy OZ. This opportunity zone development consists of a 163-room Marriot Moxy Hotel, which sits in Downtown St. Petersburg, Florida, in an area known as the EDGE District. It sits in close proximity to the home of the Tampa Bay Rays, Tropicana Field, which is undergoing a sizeable $3 billion redevelopment. The St. Pete Marriott Moxy OZ has a targeted investor IRR of 14.7%, a targeted equity multiple of 2.7x, a targeted average cash yield of 15.3%, and a targeted investment period of 10 years. 

Give it a look for yourself at CrowdStreet, here.

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General Crowdfunding Industry News

Ok, we’ve waited long enough- what city has the number one spot on CrowdStreet’s 20 Best Places to Invest in Private Equity Real Estate in 2022? Drumroll please…and it’s Austin, Texas. This “small” big city tech-oasis has more in common with Portland or San Francisco than Houston or Dallas. 

It’s got a wealth of big-name companies like Dell, IBM, and Tesla,  a lower cost of living than the coasts (though this is changing), a rapidly growing population, and a charming, eclectic way of life that makes the city eminently livable- and a prime target for growth-oriented investors. Other cities that made the list include Raleigh-Durham coming in at number 2, Salt Lake City at number 10, Washington D.C. at 16, and Denver rounds off the list at 20. Check out the list for yourself, as well as CrowdStreet’s ranking criteria, here.

In other news, self-storage operator Reliant Real Estate Management LLC recently launched a $75 million equity fund through real estate crowdfunding platform RealCrowd. The new fund, Reliant Self-Storage Fund III, will target stabilized and value-add self-storage acquisitions across the Southeast and Colorado. The fund has already purchased 13 properties, with the intent to buy as many as 20. Reliant opened its first equity fund in May 2019, and it ran until March 2020, while Fund II ran from April 2020 to October 2021. The firm was started in 2010 in Roswell, Georgia, and operates 55 self-storage facilities in states across the country, mostly under the brand names Storesmart Self Storage and Midgard. You can read more about this new self-storage focused fund at Inside Self Storage, here.

Crowdfunding Platform Updates

Start the new year by joining AcreTrader’s CEO, Carter Malloy, and COO, Garrott McClintock, for our Annual Business Update webinar. We will discuss investors’ 2021 distributions, future offering types, and what’s next for AcreTrader and our customers in 2022. This will be an ideal opportunity for investors to hear directly from the leadership team and ask questions about our mission to make buying and selling land common, transparent, and easy.

On February 2nd, farm-oriented real estate crowdfunding platform AcreTrader will hold their Annual Business Update webinar. CEO Carter Malloy and COO Garrott McClintock will be on deck to discuss investors’ 2021 distributions, potential future offerings at AcreTrader, and a general roadmap for AcreTrader’s plans in 2022. Investors will also get the chance for a dialogue with the leadership team through an investor Q&A session. The webinar will take place on Wednesday, Feb 2, 2022, at 11:00 AM – 11:45 AM PST, and if you miss it you can find a link to the webinar recording here.

Finally, a look at a home run scored over at ArborCrowd, the first platform to be founded by a real estate institution. Their Lago Paradiso Investment recently completed its lifecycle and provided investors with returns that substantially surpassed initial projections. The property, which recently sold for $98.9 million, created a net internal rate of return of 24.63%, significantly higher than the original return target, which sat between 14% and 17%. Get the rest of the scoop at BusinessWire, here.

That’s all for now- but we’ll keep an eye out for the stories you need to know- all you need to do is open your email. See you next week.

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