CrowdStreet Surpasses $500 Million in Online Investments
CrowdStreet, a Portland, Oregon-based technology provider with an online marketplace for direct equity investment in commercial real estate, crossed the $500 million threshold in total online investments in March. The news accompanies a record quarter in which CrowdStreet saw individuals invest more than $75 million in commercial real estate deals.
Since April 2014, the company has seen more than $525 million invested in office, multifamily, hotel, retail and industrial deals on the CrowdStreet Marketplace. Investment highlights include one sponsor raising over $4 billion in offers in just over an hour and the inaugural fund of the CrowdStreet Blended Portfolio raising more than $9 million from 198 investors in two months. Investment performance has been notable as well: 12 realized offerings on CrowdStreet to date have generated a 31.7% average XIRR and 1.6x average realized equity multiple.
“Crossing over the $500 million mark is a significant milestone that clearly demonstrates that online investing in commercial real estate is here to stay,” said Tore C. Steen, CEO of CrowdStreet. “Investors on CrowdStreet can now choose between directly investing in a variety of commercial real estate asset types, investing in a diversified portfolio of Marketplace assets by making one investment in the CrowdStreet Blended Portfolio, or getting personalized advice with our Private Managed Accounts service.”
Through its Marketplace and software solutions, more than 112,000 investors, along with 275 commercial real estate operators and developers, are currently on the CrowdStreet platform.
Sponsors who raised capital on the CrowdStreet Marketplace in the first quarter include Feldman Equities, KBS and Driftwood Hospitality.
CrowdStreet was the winner of the 2019 Rising Star category in the annual Oregon Technology Awards.
