INDIANAPOLIS—Realty Mogul, a Los Angeles-based online capital platform, has just successfully used crowdfunding to help fund a major industrial real estate transaction in the Indianapolis area. The company's accredited investors contributed more than one million dollars through the platform to help acquire Jackson Industrial Park with Brennan Investment Group, LLC.
“We are excited to partner with Brennan Investment Group, which is nationally known for its expertise in identifying industrial properties with desirable fundamentals such as tenant diversification and high occupancy rates in attractive markets,” says Jilliene Helman, chief executive officer and founder of Realty Mogul. “Jackson Industrial Park is another example of the diversity of commercial real estate properties, including apartment buildings, office buildings, industrial parks, self-storage facilities and retail shopping centers that have benefitted from crowdfunding as a viable source of capital.”
Located in the Eastern submarket of Indianapolis, the industrial park sits near several major transportation arteries and within a one day drive of about 75% of the US population. The 260,400-square-foot portfolio has four buildings and suite sizes ranging from 1,600-square-feet to 22,500-square-feet. Tenants from a wide range of industries occupy 77% of the portfolio.
The Chicago-based Brennan will handle all aspects of the $8.7 million dollar investment including acquisition, property management, leasing and selling the property at the end of the designated hold period.
“This was our first experience with crowdfunding, and we're pleased with the efficiency of raising equity capital through Realty Mogul's online platform,” says Michael W. Brennan, chairman and founding partner of Brennan and a co-founder and former chief executive officer of First Industrial Realty Trust. “Our experience proves that crowdfunding is a credible way to raise equity and to gain access to an untapped source of accredited investors eager to participate in the industrial real estate market for both current income and appreciation.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
