New Real Estate Crowdfunding App for Millennials Is Growing Fast

Elevate.Money adds a new property to its portfolio and user base grows

NEWPORT BEACH, Calif., Aug. 17, 2022 /PRNewswire/ -- Elevate.Money (Elevate), the real estate investing app for millennials which offers fractional investments in a portfolio of income producing commercial properties, has purchased a Shell branded fuel station and Pops Mart branded C-store in Columbia, South Carolina for $1,908,000. The purchase was made directly from the owner with a new 20-year lease. The address is 538 St. Andrews Road.

Since launching the platform in September 2021 the company has grown to over 13,000 users, over $4,000,000 of assets under management and consistently paid monthly dividends at  6.5% annualized yield.

"Our goal is finding high quality assets along with constructing a sound portfolio and the purchase of this property does exactly that. The 45 year operating history of this Shell branded fuel station and Pops Mart C-store was a factor in qualifying this property for purchase. The new 20-year lease has also increased the combined weighted average lease term of the portfolio to 12 years which aligns with our portfolio construction objectives," said CIO David Perduk.

Elevate's investment strategy is income focused. Every month business tenants pay rent and Elevatey's goal is to redistribute those payments net of costs and reserves to investors in the form of monthly dividends, allowing investors in its REIT portfolio to generate passive income. 

"Through Elevate.Money, any investor can now own a stake in the real estate behind strong American businesses that provide many of us with everyday necessities. It's our view that by constructing and managing a portfolio of high quality income producing properties and diversifying the portfolio by property type, geographic location, tenant credit and lease term, we can satisfy our goal of generating consistent, predictable monthly cash flow for our REIT investors," said CEO Harold Hofer.

Elevate's experienced team does all the heavy lifting – finding, buying, and managing the real estate.  An investor simply determines how much and how often they want to invest and within 5 minutes, they can start having their money work for them.

Elevate.Money, started by co-founders Harold Hofer, Alex Cruttenden, and Sachin Jhangiani is on a mission to make real estate investing accessible to more investors. The company is supported by a team of advisors from fintech's most innovative companies including Acorns, Betterment, Crexi, and Equity Zen. 

In September 2021, Elevate Money launched its platform allowing users to purchase shares of its private Real Estate Investment Trust (REIT) with as little as $100. Learn more at www.elevate.money. 

Investing in Elevate.Money REIT I's common shares is speculative and involves substantial risks. The "Risk Factors" section of the offering circular contains a detailed discussion of risks that should be considered before you invest. These risks include, but are not limited to, illiquidity, complete loss of invested capital, limited operating history, conflicts of interest, blind pool risk, and any public health emergency. STNL investments carry additional risks if the sole tenant defaults or goes bankrupt. Further, there is no assurance that Elevate.Money REIT I will be able to achieve its investment objectives or to access targeted investments like those identified.

Distribution payments are not guaranteed and may be modified in the future at the discretion of Elevate.Money REIT I's Board of Directors. Distribution payments may be partially supported by fees waived by the REIT's advisor and real estate services provider. Any such waived fees will not be reimbursed by the REIT at a later date. The distribution payments will not consist of a return of shareholder principal nor borrowings. 

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SOURCE Elevate.Money