Who just gave CrowdStreet a $43 million vote of confidence?

Hello GowerCrowders! As fall comes into view, we’re back with plenty of new deals, news stories, and all of the other real estate crowdfunding news that you need to know. In this week’s issue, we will cover a few new deals, including an Attractive Florida Investment Opportunity from a repeat seasoned sponsor on CrowdStreet and a New Minnesota Offering Now Available on AcreTrader- the Tabor Farm

We’ll also look at StartEngine claiming the top spot in Q3 for Reg CF, Reg A+ Offerings Combined, and a new School of Whales crowdfunding project that aims to turn a historic Miami Post Office into a gorgeous new food Hall in South Florida. Additionally, we’ll check out CrowdStreet’s latest $43 million funding round close and look at a new podcast for your listening pleasure- Ep 18 – Crowdfund Your Next Rental Property w/ Levi Brackman.

Let’s get into it.

New Crowdfunding Platform Deals

First up is the Noble Vines, sponsored by the Latigo Group. While this multifamily property is located in South Florida, it was luckily spared from the recent wrath of Hurricane Ian. The property sits in Cape Coral, Fl, and already has site plan approval and is on track to receive building permits prior to the start of construction. 

The Noble Vines currently has a targeted investor IRR of 21.5%, a targetted investment period of 3 years, and a sponsor co-invest of $4,367,707- so you know they have skin in the game. Take a look at this Florida multifamily opportunity on CrowdStreet, here– investing starts October 12.

Up next is the Tabor Farm, brought to you by AcreTrader. The Tabor Farm is a 160-acre Minnesota corn, soybean, and sugar beat farm with a total price of $832,000, encompassing 160 total acres. It sits in Polk County, Minnesota, a region with productive soils and a long history of agricultural excellence. 

The crowdfunded capital for the farm is intended to be used for several improvements, including a new drainage ditch and several other strategies to improve the farm’s overall efficiency. The deal is now live on AcreTrader, so check it out for yourself, here.

General Crowdfunding Industry News

Full-stack securities crowdfunding platform StartEngine just sent out an email letting readers know that it raised more than any other platform using Reg CF and Reg A+ during the 3rd quarter of 2022. As a quick primer, Reg CF refers to the security exemption that allows companies to raise up to $5 million online, from both accredited and non-accredited investors. StartEngine helped firms raise more than $30.7 million in Reg CF funding and $17.1 million in Reg A+ securities offerings- $41.8 million total in Q3 alone. Its nearest competitors, Republic and WeFunder, booked a much smaller amount in Q3, with Republic bringing in $17.4 million and Wefunder generating $32.7 million. Learn more about StartEngine’s startling success on Crowdfund Insider, here.

In a quick look at how crowdfunding projects are changing the real estate landscape, the Miami New Times has a look at a new project from real estate crowdfunding startup “School of Whales.” The firm’s co-founder, Andrea Petersen, recently announced that S.O.W. will launch their newest crowdfunding project by reimagining the city’s historic post office building located at 100 NE First Avenue. 

After completion, the 36,500 sq ft space will be turned into a four-level gastro hub, while respecting the awe and grandeur of the original 1912 neo-classical building. See the new home of Biscanyne Bay Brewing and several other new businesses here.

Crowdfunding Platform Updates

In a huge win for the real estate crowdfunding space, PE investment platform CrowdStreet announced on Monday that it closed a $43 million capital round, with the debt and equity capital raised in order to fund the firm’s continued growth in the real estate markets. TIAA ventures is making an equity capital investment via a fund that specifically seeks out investments in promising fintech firms. 

In addition, large-scale CRE firms like Cypress Equity Investments, The Dinerstein Companies, and Foulger-Pratt joined several others in the funding round. Read more at Commercial Observer, here.

Multimedia Links (Videos, Podcasts, etc.)

Finally, we’re going to check out a new podcast – Episode 18 of the Passive 25k Podcast with Kyle Reedstrom entitled “Crowdfund Your Next Rental Property w/ Levi Brackman.” In this week’s episode, Levi Brackman, Invown Founder, discusses how and why he works so hard to help get others into real estate and why heightened accessibility is so important for modern RE investors. Give it a listen for yourself on Listen Notes, here.

That’s it for this week- but we shall return next week with lots more RE CF news, deals, podcasts, and more. See you then!

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