LOS ANGELES—RealtyMogul.com on Tuesday said it had closed an $860,000 equity investment in a 23-unit multifamily property in Plainfield, NJ. The acquisition's sponsor is Clairmont Group LLC, a New York based diversified real estate company engaged in acquisition, development, management and advisory services.
“This property offers in-place cash flow as well as value-added opportunities that will come through renovation,” says Jilliene Helman, CEO of RealtyMogul.com. “The sponsor's forward-looking approach, coupled with the property's upside potential, makes this a prime opportunity for our savvy investor base.” She adds that “Our investors are clearly demonstrating an appetite for access to high-growth sectors and markets, and we're proud to deliver such opportunities.”
The fully occupied apartment building is located near the commuter hubs of New York City and Newark, NJ, and is in close proximity to employment centers and public transportation and is surrounded by numerous multifamily drivers. RealtyMogul.com investors were offered the opportunity to help finance the acquisition by contributing equity capital.
David Lubin, founding and managing partner at Clairmont, says he anticipates working with RealtyMogul.com “on many deals in the future. Our goal is to identify unique opportunities for our investors that offer capital preservation with attractive risk-adjusted returns and create long-term value through execution and hands on management in a strong New York metro market.”
Clairmont will leverage the investment to implement a renovation and operational improvement plan for the property. The acquisition squares with Clairmont Group's strengths and experience, given its focus on tri-state area class B multifamily acquisitions and its prior experience in managing similar rehab projects in the New York metro area.
LOS ANGELES—RealtyMogul.com on Tuesday said it had closed an $860,000 equity investment in a 23-unit multifamily property in Plainfield, NJ. The acquisition's sponsor is Clairmont Group LLC, a
“This property offers in-place cash flow as well as value-added opportunities that will come through renovation,” says Jilliene Helman, CEO of RealtyMogul.com. “The sponsor's forward-looking approach, coupled with the property's upside potential, makes this a prime opportunity for our savvy investor base.” She adds that “Our investors are clearly demonstrating an appetite for access to high-growth sectors and markets, and we're proud to deliver such opportunities.”
The fully occupied apartment building is located near the commuter hubs of
David Lubin, founding and managing partner at Clairmont, says he anticipates working with RealtyMogul.com “on many deals in the future. Our goal is to identify unique opportunities for our investors that offer capital preservation with attractive risk-adjusted returns and create long-term value through execution and hands on management in a strong
Clairmont will leverage the investment to implement a renovation and operational improvement plan for the property. The acquisition squares with Clairmont Group's strengths and experience, given its focus on tri-state area class B multifamily acquisitions and its prior experience in managing similar rehab projects in the
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