Real estate investment trust Impact Housing REIT has launched a $35m crowdfunding campaign, alongside a partnership with CrowdStreet.
The Series A funding round is open to all accredited, unaccredited, domestic and international investors, with a minimum commitment of $1,000.
The company uses funds raised to buy apartment buildings in the US, refurbish them to create affordable housing for working class families. Through the platform a user is able to make an investment into the housing projects, and then receive quarterly returns.
The funding is helped through the new partnership with real estate crowdfunding technology platform CrowdStreet, which is also connecting the company with a network of 25,000 investors,
Impact Housing REIT founder Eddie Lorin said, ?The ability for Impact Housing to utilize new crowdfunding laws to circumvent the middleman and bring more efficient financial returns directly to everyone, regardless of income level or wealth, is remarkable to say the least. The more money raised through the Impact Housing REIT offering, the more we can meet the shortage of decent workforce housing that affordable in our country and deliver market rate returns to our investors.p>
The average size of a real estate funding round in Q2 2017 was $10.5m, which is up by $0.4m of that in the first quarter of the year.
Copyright ? 2017 FinTech Global