Fundrise, a direct-to-investor real estate investment platform, is closing a $300 million credit facility with $150 million in credit committed with Goldman Sachs. The vehicle will finance the purchase of nearly half a billion dollars of newly constructed single-family rental units in high-growth markets across the Sunbelt.
Fundrise entered the SFR space last December when the firm won a purpose-built, 124-home SFR community built by DR Horton in Conroe, Texas. The Conroe deal is the first of many large-scale initiatives Fundrise plans in the near term to scale its operations across several key markets.
With the credit facility, Fundrise will deepen its investment in the burgeoning SFR market with Fundrise co-founder and CEO Ben Miller securing financing from other financial institutions along with Goldman Sachs.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
