New York, New York (PRWEB) August 23, 2016
iFunding has raised $1,950,000 of preferred equity for a best-in-class student housing community in Gainesville, FL. The Sponsor is an innovative developer with a diverse US property portfolio. For this development, they secured a prime location proximate to both the University of Florida and the region’s leading retail center.
The preferred equity investment is being made simultaneous with the property’s transition from construction to occupancy. This 600+ bed community outperformed lease-up expectations and was 99.2% pre-leased.
iFunding’s preferred equity is a participation with an institutional investor that has completed over $1 billion of transactions since 2010.
William Skelley, Founder & CEO of iFunding, observed, “As the iFunding community continues to expand its investor universe, we are thrilled to provide offerings that meet our investors preferences: multifamily assets with attractive yield and short-term duration. This capital raise not only meets those preferences, it’s a participation with an established commercial real estate family office.”
Innovational Funding LLC (“iFunding”) is the leading commercial real estate crowdfunding platform aggregating investor capital to provide equity and debt financing to owners, developers, and fund managers by leveraging relationships, technology and a full-service online platform. Accredited investors and institutions can register on our website to review our curated online investment marketplace, which includes investment positions in all asset classes and throughout the capital stack.