RealtyShares Closes $12M Loan for Seattle Student Housing
The 10-property portfolio is located near the University of Washington, in one of the fastest growing housing markets in the U.S. The acquisition marks the company’s largest commercial real estate debt transaction to date.
By Adina Marcut
525 Market Street, Suite 2800 San Francisco, RealtyShares’ headquarter
RealtyShares, an online marketplace for real estate investments, closed the company’s largest commercial real estate debt transaction to date—an $11.9 million loan for the acquisition and partial recapitalization of a 10-property portfolio of student housing located in Seattle.
“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,” Anthony Dagati, director of Commercial Real Estate Debt Originations at RealtyShares, said in prepared remarks.
Exclusive location
The portfolio is situated within approximately two miles of the University of Washington, a campus of 54,000 students, in one of the fastest growing housing markets in the U.S. Due to the majority of the total loan contributed by one of RealthyShares’ private equity partners, the company was able to offer its network of accredited investors the opportunity to participate in an attractive multi-property student housing transaction.
Image via Google Maps
