RealtyShares Raises $2M for Columbus Community
This is the second crowdfunded project in Arch City in recent months.
Columbus, Ohio—RealtyShares, one of the major real estate crowdfunding marketplaces, has supported the purchase of a 192-unit multifamily property in Columbus, Ohio. Joining the 75 investors which participated in the raise of $1.5 million, Hamilton Real Estate Capital sponsored the makeover of the Cardinal Creek Townhomes in Bexley.
As an equity investment, the profit will depend on the distribution and value of the 35-building asset. For Hamilton, this is the first deal on the crowdfunding platform, while RealtyShares has recently helped raise more than $1 million for the acquisition of a Marriott Hotel in Columbus.
With Bexley showing consistent rent growth and Cardinal Creek Townhomes being situated in a favorable area, “the property already boasts a high occupancy rate, with more than 70 percent of the units recently renovated. Most importantly, our investors are often compelled by strong track records, and Hamilton has owned or advised on over $350 million in assets like this since 2005. It is an ideal partner for a deal like this,” said Bryan Shultz, vice president of commercial equity at RealtyShares.
Image via Google Maps