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Mainstreet Sets Crowdfunding Record

CARMEL, IN—An increasing number of developers are considering crowdfunding as a source for capital, and one of the top developers of long-term care tells GlobeSt.com that the technique will now be in its “toolbox.”

By Brian J. Rogal | Updated on July 20, 2014

CARMEL, IN—Although considered unorthodox by some, the use of crowdfunding to develop real estate projects has started to win adherents, and Mainstreet, one of the nation’s largest developers of short-stay rehabilitation and long-term care properties, just raised over $1.6 million for a new Indiana care facility in a four-week period, company officials tell GlobeSt.com.

“Our CEO told us to find creative solutions to fundraising, to think differently and experiment,” says Scott White, chief operating officer of Mainstreet. That request led the firm into a partnership with CrowdStreet, an Oregon-based crowdfunding platform set up specifically to connect US accredited investors with real estate companies.

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