Realty Mogul Secures $1 Million for First-Ever Equity Crowdfunding of a Self-Storage Facility
Realty Mogul (
www.realtymogul.com), the marketplace for accredited investors to pool money online and buy shares of pre-vetted investment properties, today announced the first-ever crowdfunded self-storage facility. Through a private placement traditionally offered only to larger institutional investors, the platforms innovative investment will help enable the conversion of the property into a branded StoreSmart facility, bringing with it a new management team.
The infusion of capital into the newly-acquired 168,540 square foot self-storage facility, comprised of 24 buildings in Fayetteville, North Carolina, will smooth the transition into a new operating center for StoreSmart, which has been named one of the top self-storage operators in the US by Inside Self Storage Magazine. The fundamentals of both the property and its market area are solid, said Helman. The facility is in a strong market area but had below-market overall occupancy due to the deferral of some needed renovation as well as leasing and management issues that we believe can be corrected by our partners in the transaction, StoreSmart. Its also clear that the Fayetteville self-storage submarket has been very strong recently. We believe that the strategic renovation and rebranding program proposed by StoreSmart can bring the facility up to standards consistent with a Class A self-storage facility and get the occupancy rate back to market levels.
Were very pleased to be the first real estate crowdfunding company to get a self-storage facility under our belt, and delighted that we had such a robust reaction from our investors, said Helman. Our team had been actively searching the market for just such an opportunity, and this new self-storage transaction now joins the many multi-family apartment buildings and retail shopping centers that weve already handled nationwide.
Realty Mogul is the leading real estate crowdfunding platform, and Helman suggested that the company will continue to move into other sectors. Commercial real estate is comprised of several major asset classes, and we intend to be a player in most if not all of them, she said. Any investment we bring to the platform must have strong cash flow characteristics but its important that our investors have a chance to diversify across the various market segments, so well continue to bring them all types of commercial real estate investment opportunities.
Realty Moguls marketplace allows investors to become equity holders in real estate opportunities that were historically difficult to access. Through the use of the Realty Mogul web platform, investors can browse and screen real estate investments, view details of an investment and sign legal documents online.
When investing in a Real Estate Investment Trust (REIT), most investors have little to no information regarding actual properties the REIT invests in and cannot invest in their own backyard. With Realty Mogul, investors can invest in individual properties giving added transparency and control over investment selection and location.
About Realty Mogul
Realty Mogul is crowdfunding for real estate, a marketplace for accredited investors to pool money online and buy shares of real property like office buildings, apartment buildings and retail centers. Realty Mogul gives investors tools to browse investments, do due diligence, invest online and have 24/7 access to an investor dashboard to watch how their investments are performing. Realty Mogul partners with private real estate companies to source quality deal flow and curates all the investments. For these real estate companies, they have access to a broader capital pool and tools to do investor reporting, investor communication and distributions. For more information on how to become a real-estate investor without having to do any of the legwork finding properties, please visit www.realtymogul.com.