- Shayanfekr: “The process to onboard these funds was extremely difficult, requiring multiple site visits, third party reports, and vetting of our entire operational process—from application to post closing practices.”
GREAT NECK, NY—Sharestates, a real estate crowdfunding platform here, reveals it has surpassed $1 billion in committed capital for the purchase of loans. The company's newest capital infusion comes from a fund that collectively manages over $15 billion, marking a milestone for the startup.
Sharestates launched its full operation less than two years ago in February of 2015. Since then, the firm has originated over $150 million in loans across more than 210 projects, with an average loan size of approximately $728,000. To date, Sharestates has returned over $50 million to investors with an average return rate of 11.36% for 2016, with zero loss of principal. Sharestates' current trajectory has it on a $25-$30 million month to month origination volume, leading it to break over $200 million in originations by years end.
“The process to onboard these funds was extremely difficult—requiring multiple site visits, third party reports, and vetting of our entire operational process from application to post closing practices,” says Allen Shayanfekr, Sharestates' co-founder and CEO. “Our team received great scores on each of the various aspects of the audits, enabling us to continue to grow our platform and brand.”
This new round of financing comes a few months after Sharestates received $300 million in loan purchase commitments, driven by collaborations with Prime Meridian Capital Management and Colony American Finance.
Sharestates' most recent capital commitments will lead to increased funding capabilities, allow for new loan programs, competitive lending rates and create efficiencies in the closing process, the company says.
The funds also will contribute to a stronger income stream for the company, the announcement continues, enabling more technological advancements, focus on user-experience development/iteration and validation of the marketplace lending model as it applies to real estate.
More than 300 of the industry's leading national investors, REITs, banks, private equity firms, asset management firms and other institutions will join us as we explore the market conditions behind the trends at this year's RealShare National Investment & Finance, scheduled for Oct. 5 and 6 at the Roosevelt Hotel in New York City. Learn more.
- Shayanfekr: “The process to onboard these funds was extremely difficult, requiring multiple site visits, third party reports, and vetting of our entire operational process—from application to post closing practices.”
GREAT NECK, NY—Sharestates, a real estate crowdfunding platform here, reveals it has surpassed $1 billion in committed capital for the purchase of loans. The company's newest capital infusion comes from a fund that collectively manages over $15 billion, marking a milestone for the startup.
Sharestates launched its full operation less than two years ago in February of 2015. Since then, the firm has originated over $150 million in loans across more than 210 projects, with an average loan size of approximately $728,000. To date, Sharestates has returned over $50 million to investors with an average return rate of 11.36% for 2016, with zero loss of principal. Sharestates' current trajectory has it on a $25-$30 million month to month origination volume, leading it to break over $200 million in originations by years end.
“The process to onboard these funds was extremely difficult—requiring multiple site visits, third party reports, and vetting of our entire operational process from application to post closing practices,” says Allen Shayanfekr, Sharestates' co-founder and CEO. “Our team received great scores on each of the various aspects of the audits, enabling us to continue to grow our platform and brand.”
This new round of financing comes a few months after Sharestates received $300 million in loan purchase commitments, driven by collaborations with Prime Meridian Capital Management and Colony American Finance.
Sharestates' most recent capital commitments will lead to increased funding capabilities, allow for new loan programs, competitive lending rates and create efficiencies in the closing process, the company says.
The funds also will contribute to a stronger income stream for the company, the announcement continues, enabling more technological advancements, focus on user-experience development/iteration and validation of the marketplace lending model as it applies to real estate.
More than 300 of the industry's leading national investors, REITs, banks, private equity firms, asset management firms and other institutions will join us as we explore the market conditions behind the trends at this year's RealShare National Investment & Finance, scheduled for Oct. 5 and 6 at the Roosevelt Hotel in
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