Sponsor Successfully Uses RealtyMogul Crowdfunding Platform to Raise $10 million in Less Than 24 Hours For 369-Unit Nashville Multifamily Development, Haven at Charlotte
The RealtyMogul members have access to institutional quality real estate investments creating a win win relationship for both the developer and RealtyMogul members.
Today, RealtyMogul announced that members on the RealtyMogul platform invested over $10 million in less than 24 hours to fund the development of Haven at Charlotte, a 369-unit Class A luxury institutional quality multifamily high-rise apartment community next to the vibrant OneC1ty development in Nashville, TN.
The size and speed of this funding demonstrates the growing power of RealtyMogul’s member base, who are now able to pool substantial resources and offer financing options for developers that are competitive with - and often superior to - traditional capital sources like private equity firms. The RealtyMogul members have access to institutional quality real estate investments creating a win win relationship for both the developer and RealtyMogul members.
The Sponsor of the development, Guefen Development, is a prominent, vertically integrated real estate development and construction company - with a focus in multifamily ownership, development, and construction. Guefen Development has extensive experience in both urban and suburban projects, and since 2005, they have been involved in a wide variety of projects totaling in excess of 7,000 Class A multi‐family units and more than $1 billion in total investment.
Jilliene Helman, CEO of RealtyMogul stated, “This has been one of the most exciting deals we’ve ever seen on the RealtyMogul Platform. The rapid growth of the Nashville metropolitan area is fueling tremendous demand for Class A multifamily units, and the growing scale of RealtyMogul’s community of accredited investors have combined to make this financing one of the most successful - and rapid - that we’ve ever been involved with. I think this marks a turning point for our Platform, in which we are becoming an alternative source of capital on par with any of the nation’s leading private equity firms.”
Haven at Charlotte is located in Nashville, Tennessee, which, according to Forbes.com, ranks as the 6th best city in the United States for job growth. The Urban Land Institute lists Nashville as the 7th most attractive real estate investment and development market in the country - as Nashville MSA's domestic product has grown an average of 4.9% over the past five years, far outpacing state and national averages. Its diverse economic base has become a regional economic growth engine with an average employment growth of 3.7% annually from 2015 to 2020 and has added 165,000+ jobs in the same time period.
On their partnership with RealtyMogul, Guefen Development principal Guillermo Guefen stated, “We’ve partnered with many financial institutions over the years, and our experience with RealtyMogul has been one of the most seamless, and unique, that we’ve ever had. While their capital came from a pool of over 200 individual investors, we only dealt with our primary points of contact at the firm. They operated with the professionalism of a tier-1 private equity firm, they thoroughly dug in to understand this development, and ultimately participated as a highly-strategic capital partner. We look forward to working with them for years to come.”
About Guefen Development
Headquartered in Houston, Texas, Guefen Development specializes in multifamily development of Class A multifamily communities (conventional and student housing) in the Sun Belt States. With a focus in multifamily ownership, development, and construction, Guefen Development has extensive experience in both urban and suburban projects. Since 2005, Guefen and its principals have been involved in a wide variety of projects—garden, mid‐rise, and high-rise—totaling in excess of 7,000 Class A multi‐family units and more than $1 billion in total investment.
About RealtyMogul:
RealtyMogul is an online real estate investing platform that provides discerning investors exclusive access to thoroughly vetted opportunities, rigorous underwriting, and high-touch customer service through licensed investment professionals. In addition to private-placement deals offered to accredited investors through their platform, RealtyMogul operates REITs that are accessible to anyone. Their members have invested in properties whose combined value exceeds $3.5 billion - with ownership stakes in over 18,000 multifamily units in addition to a range of commercial properties.
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