NEW YORK CITY—Online crowdfinance marketplaceEquityMultiple, developed in partnership withMission Capital Advisors, has entered themarketplace with the public launch of its first deal, GlobeSt.comhas learned exclusively. The deal is an equity offering of $750,000for a redevelopment project in Brooklyn, NY. The project, a$7-million, mixed-use revamp of a former warehouse in NorthBushwick, has already been partially funded thanks to an initialprivate launch.

“With the maturation of technology and the impact of the JOBSAct, the time has come for the real estate industry at large toembrace the enormous potential of marketplace finance, and to opentheir transactions to new investors,” says CharlesClinton, EquityMultiple's CEO. “We've really only seen thetip of the iceberg in this regard.”

Clinton is a former real estate attorney who has worked onlarge-scale deals for the Blackstone Group and KKR. Along with CIOMarious Sjulsen, who previously worked in realestate private equity and development, the leadership team alsoincludes Mission Capital executives Peter Shankar, DavidTobin, Stephen Emery and Jordan Ray.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.