FullCapitalStack Launches Groundbreaking $1.7 Million Offering for Charlotte Townhomes
Charlotte, NC (PRWEB) July 16, 2015 -- FullCapitalStack, a QuietStream Financial portfolio company, has launched a $1.7 million preferred equity offering for the construction of 27 luxury townhomes in Charlotte’s upscale SouthPark neighborhood.
The offering is one of the first Charlotte real estate projects to tap equity crowdfunding as part of its capital structure. FullCapitalStack’s online investment platform will make the offering accessible to all accredited investors in the U.S. Accredited investors are individuals with more than $200,000 in annual income or a net worth in excess of $1 million.
Charlotte-based developer Saratoga Asset Management (“Saratoga”) will sponsor the project, partnering with Charlotte-based homebuilder Alan Simonini Homes as the lead builder. Saratoga has contracts in place on four residential lots totaling 2.62 acres along Fairview Road in the SouthPark area. The upscale development, to be called SouthPark City Homes, will be constructed and sold over an estimated 28-month period concluding in late 2017.
“We are excited to launch this offering in our hometown to help local accredited investors access equity in a first-class Charlotte development,” FullCapitalStack Chief Investment Officer Nikki Baldonieri says. “Historically, real estate owners have been limited to raising equity capital from friends and existing contacts. Our online platform removes barriers and leverages technology so accredited investors can easily access, research and execute direct investments in real estate projects.”
The SouthPark City Homes development will consist of six separate buildings of either four or five units for a total of 27 luxury townhome units. Each three-story townhome will be approximately 2,761 square feet, with four bedrooms, 3.5 bathrooms, and a two-car garage. Amenities and features will include stainless steel appliances, hardwood and ceramic tile flooring, garden bathtubs, walk‐in closets, granite counter tops, fireplace, optional elevator and more.
“Working with FullCapitalStack allows us to broaden our relationships and present this project to the entire community of eligible investors, rather than just the partners in our existing circle,” Saratoga Asset Management Managing Partner Raymond Wetherington says. “This will be a development the SouthPark community can be proud of, and now it is a project neighbors can own a portion of as well.”
The SouthPark City Homes offering will begin accepting investments on July 15. Accredited investors can learn more, download complete investment details and read all disclosures at investments.fullcapitalstack.com.
About FullCapitalStack
FullCapitalStack, part of the QuietStream Financial portfolio, is an online investment portal for institutional and accredited investors seeking to invest in commercial real estate. FullCapitalStack provides investors unparalleled access to direct investments in office, multi-family, retail and other commercial real estate projects. In addition to its own exclusive listings, FullCapitalStack showcases investment offerings via partnership with Investor Management Services, a leading provider of online fundraising platforms for commercial real estate sponsors across the U.S. Visit FullCapitalStack at http://www.FullCapitalStack.com.
About QuietStream Financial
QuietStream Financial is an innovative portfolio of businesses serving commercial real estate owners, investors, borrowers and related professionals. Founded by CEO Robert J. Finlay, the company operates a portfolio of subsidiary businesses that provide a host of services, including investor management, fundraising, CMBS research and underwriting, defeasance, crowdfunding, marketing and other alternative asset management services. QuietStream Financial has more than $10 billion in assets under management and 100 employees. The firm is based in Charlotte, N.C. To learn more visit http://www.quietstreamfinancial.com.
Adam O'Daniel, QuietStream Financial, http://www.quietstreamfinancial.com, +1 704-940-9754, [email protected]
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