One of the Leading Crowdfunding Platforms Completes Equity Raise for Experienced Local Sponsor
Press Release – LOS ANGELES - April 26, 2016 – RealtyMogul.com, one of the leading online marketplaces for real estate investing, today announced that it closed a $1,000,000 equity investment in an industrial property in Glendale Heights, IL, within the Chicago metropolitan area. The sponsor for the acquisition is Clear Height Properties, a real estate investment and management company headquartered in Chicago.
The property, an 85 percent-occupied flex-industrial space comprised of over 100,000 square feet, was acquired below replacement cost. RealtyMogul.com investors were offered the opportunity to help finance the acquisition by contributing equity capital.
“We have seen a lot of activity in Illinois recently, and this deal is another demonstration of investor appetite for exposure to the rich commercial real estate market in the area,” said Jilliene Helman, CEO of RealtyMogul.com. “It is also another proof point of the effectiveness and utility of online marketplaces such as ours in providing financing for commercial real estate investments.”
The sponsor sees this investment as an opportunity to capitalize on an under-managed asset in a market with which it is very familiar. Clear Height Properties is focused on owning and operating industrial assets within the Chicago metropolitan area. Its portfolio currently includes 20 industrial assets within the area, totaling nearly one million square feet.
“The combination of an experienced sponsor that understands the local market and an asset that has both in-place cash flow and upside potential made this investment opportunity a great fit for us and our investors,” added Helman.
RealtyMogul.com is an online marketplace for real estate investing, giving individual investors real-time access to commercial real estate and professional real estate companies easier access to capital. Through crowdfunding, RealtyMogul.com 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. RealtyMogul.com partners with professional real estate companies to source investment opportunities and curates all of the investments. For these real estate companies, RealtyMogul.com offers JV and preferred equity as well as mezzanine and first position debt. For more information, visit www.realtymogul.com.
Equity securities are offered through North Capital Private Securities Corp., registered broker/dealer and member FINRA/SIPC.