TIAA Ventures, Dinerstein Companies, Foulger-Pratt and more back CrowdStreet
This support “allows us to accelerate our efforts to offer more investment products and help investors build financial freedom through direct investment in real estate,” said the CEO.
Austin, Texas, October 10, 2022 /PRNewswire/ — CrowdStreet, Inc. (“CrowdStreet”), an award-winning company1 Online real estate investment platform today announced funding $43 million Equity and debt capital to help fund company growth and create a market for online real estate investment.
Equity capital came from a prominent group of strategic investors including TIAA, a Fortune 100 financial services firm. TIAA invests through the TIAA Ventures program, which seeks investment in promising fintech companies. Investments, Dinerstein Companies, Folger Pratt. Existing venture capital partners Grotech Ventures, Rally Ventures, Seven Peaks Ventures and Green Visor Capital also participated in the funding.
“We are pleased to count many of the leaders across the industry as customers, partners and strategic investors for participating in this funding round. They know us better than anyone. , shares our vision for the future of commercial real estate investing.” TresteenCrowdStreet, Inc. CEO.
CrowdStreet will use the influx of new capital to improve the technology that powers its platform, evolving the investment experience and investment management tools that investors use every day. “Over the years, we have watched CrowdStreet evolve their fintech platform to better serve their real estate project sponsors and investor community. Sean Reese, Chief Investment Officer and Head of Real Estate Fund Management at Nuveen, an investment affiliate of TIAA, Americas. “CrowdStreet’s innovations modernize, simplify and streamline access to commercial real estate, enabling more investors to reap the benefits of investing in this asset class.”
this $43 million The investment will also help CrowdStreet expand into wealth management channels, with financial advisors making it easy for clients to add commercial real estate, a valuable alternative asset, to their portfolios.
CrowdStreet seeks to expand its product and service offerings by giving more retail investors and financial advisors new ways to access private commercial real estate. This will accelerate the work CrowdStreet Advisors is already doing. $400 million With client assets across private real estate funds and individually managed accounts. In 2022, CrowdStreet Advisors will launch its flagship fund, CrowdStreet REIT I, Inc. (C-REIT). CrowdStreet REIT I, Inc. (C-REIT) combines the best of private real estate funds and public REITs to provide investors with an easy way to invest in over 20 projects around the world. nation. These real estate funds offer investors priority access to the most popular individual deals on the CrowdStreet marketplace, as well as the opportunity to invest in projects not available to the wider investor community. .
Since its founding, CrowdStreet has $3.6 billion The company achieved its first billion dollar year in 2021 when the investor community funded more than 670 commercial real estate projects across the country. $1.2 billion Across single property deals, professionally managed funds and individually managed accounts.Current August 2022138 investments on the platform were fully realized, generating an average IRR of 17.5% and an average stock multiple of 1.50x.
About Cloud Street
CrowdStreet, the largest online private equity real estate investment platform* in the United States, provides investors with direct access to a variety of investment opportunities and the ability to invest easily and conveniently. Real estate companies benefit from highly efficient ways to connect with investors, raise capital and manage investor relationships. CrowdStreet works with investors and experienced real estate firms to expand participation in the commercial real estate market and create communities where wealth can be built and maintained.Click here for details https://www.crowdstreet.com/.
*According to the report of Dr. Adam Gower On the Best Real Estate Syndicate Platform | Gower Crowd – UNLEASHED, Publishing 2022, Based on Funds Raised by Private Investors.
CrowdStreet, Inc. (“CrowdStreet”) offers investment opportunities and financial services on this website. Broker-dealer services provided in connection with investments are provided through CrowdStreet Capital LLC (“CrowdStreet Capital”). Finla member with SIPCInformation about all FINRA registered representatives is available at FINRA’s broker checkAdvisory services are provided through CrowdStreet Advisors, LLC (“CrowdStreet Advisors”), a wholly owned subsidiary of CrowdStreet and a federally registered investment advisor. CrowdStreet Advisors provides investment advice services only to privately managed accounts and private funds and does not provide investment advice services to the CrowdStreet Marketplace or its users.
This communication is for informational purposes only and should not be considered a recommendation, offer or solicitation to purchase any investment product, financial product or service. Information in this communication, including information regarding target returns and investment performance, is subject to change. Forward-looking statements, hypothetical information or calculations, financial estimates and target earnings are inherently uncertain. Such information should not be used as the primary basis for an investor’s investment decisions. An investment in CrowdStreet Private Equity REIT I, Inc. (the “Fund”) is speculative and involves significant risk. Do not invest in the Fund unless you are able to withstand the risk of loss of capital, including the risk of complete loss of capital. No warranty or representation is made that the Fund will achieve its investment objectives or that investors will receive any return on their investments. Investors should consult their financial advisors, attorneys, accountants and other professionals who can help them understand and assess the risks associated with any investment opportunity. All investors should carefully review the fund’s prospectus and all referenced documents.
Using the XIRR function in Microsoft Excel and referencing the effective date of capital contribution by the individual investor and the date of distribution by the issuer, calculate the IRR (Internal Return Rate) of each realized transaction based on the investor’s total cash flow. rate). The total IRR of all realized trades is based on the total cash flows of individual realized trades, as described above, and is similarly calculated using the XIRR function. The IRR figures shown on this page are net of the most onerous fees charged to clients of CrowdStreet Advisors, LLC, our registered investment management subsidiary. An investor’s actual his IRR for realized investments may vary. We use a consistent method for calculating returns. However, in most cases, the relevant issuer will provide the distribution information used to calculate the IRR. Although we take reasonable steps to verify this information, we cannot guarantee its accuracy.
1 CrowdStreet has been named the Best Overall Real Estate Crowdfunding Site by Investopedia for 2021 and 2022. Investopedia selected the Best Real Estate Crowdfunding Sites by conducting an independent review process based on a variety of factors including: Investor dividends, past annual returns, reinvestment opportunities, website transparency (platform fees, minimums, how easy it is to find redemption options), Better Business Bureau ratings, and education offerings. We also research each company’s online reputation, including average monthly search volume, recent news, customer reviews, and complaints to ensure the platform is well respected and legitimate. https://www.investopedia.com/review-process-4802351
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Source CrowdStreet, Inc.