June 2017 -
In one of the company’s largest commercial real estate debt transactions to date, RealtyShares recently closed on a 10-property student housing portfolio located near the University of Washington in Seattle, Washington.
The project, which closed for a total of $11.9 million, was structured to include capital sourced from RealtyShares’ institutional investor network as well as a $1 million second-lien loan funded through RealtyShares’ curated online marketplace. (article continues below)
“Working within a tight timeframe, RealtyShares was able to leverage our institutional capital relationships and our extensive accredited investor base to provide $11.9 million of structured debt—which is among our largest commercial debt raises to date,” said Bryan Schultz, Vice President at RealtyShares.
The $11.9 million raise was intended for the acquisition and partial recapitalization of the portfolio, which is located entirely within the city of Seattle.
The portfolio comprises 10 properties situated within 1.5 miles of the University of Washington—a campus of approximately 54,000 students—and is attractively located in one of the highest growth housing markets in the United States according to the Case-Shiller national home price report
“This project highlights our ability to offer investment opportunities in a diverse selection of asset classes, as well as our nimble and creative approach to sourcing capital,” added Schultz.
Interested in financing a student housing portfolio with RealtyShares? Let’s talk. Contact email@example.com
You should not rely on any forward-looking statements made regarding this opportunity, because such statements are inherently uncertain and involve risks. The property's economic performance and value, and thus the value of investors’ investment, is subject to other risks as well; these risks could result in the loss of your investment (including invested principal). Such risks can include, among other things, the illiquid nature of the investment, risks relating to the sponsor's management of the project, risks relating to any renovation or construction work to be performed at the property, and real estate market risks generally. See the offering materials for a more detailed discussion. Securities offered through North Capital Private Securities, member FINRA/SIPC.