New York, New York (PRWEB) April 17, 2016
iFunding raised $730,000 of capital via an attractive preferred equity investment for the acquisition and development of an 8-unit for-sale condominium building with four street level parking spaces in Washington D.C.’s Glover Park neighborhood – a popular residential neighborhood proximate to both Georgetown and downtown Washington DC.
The Sponsor, Columbia Property Capital, is an experienced developer in the Washington DC metro area that specializes in condominium development and conversions. They have recently completed condominium projects in this neighborhood and are currently executing a 9-unit condo development plan adjacent to this site.
Guy Prudhomme, President & CEO of Columbia Property Capital, is a seasoned international entrepreneur, real estate investor and developer with over 35 years of experience. Guy stated, “We researched several crowdfunding sites and capital sources, and determined that iFunding was a good fit for our capital raise with flexible terms for our development plan. iFunding’s track record was outstanding, and we found their team to be very thorough and responsive during the listing process. I will definitely look to iFunding for future investment collaboration together.”
William Skelley, Founder & CEO of iFunding added, “Everyday iFunding strives to connect our investors with exceptionally performing commercial real estate projects backed by qualified sponsors. This deal was a great opportunity to do exactly that, and we look forward to continuing to offer high-quality investments that individual investors have previously not been able to access.”
Innovational Funding LLC (“iFunding”) is a leading commercial real estate investment platform aggregating investor capital to provide equity and debt financing to owners, developers, and fund managers, leveraging technology and a full-service online platform. Accredited investors can register on our website to review our curated online investment marketplace, which includes investment positions in all asset classes throughout the capital stack. http://www.ifunding.com