REAL ESTATE INVESTMENT
Groundfloor | April 21, 2022
On April 20th, wealthtech platform Groundfloor announced its expansion to California while unveiling new individual loan limits. Real estate investors in the state will now be able to finance acquisitions, renovations, and the construction of new as well as accessory dwelling units (ADUs) with the help of Groundfloor’s competitive loans. The firm has also increased individual loan limits to $1.5 million. Following the announcement, Groundfloor’s award-winning lending products are now available in 32 states.
Californiais the nation's largest real estate investment lending market and we're excited to enter it. This expansion and our new loan limit are direct benefits of the continuing growth we're seeing in the scale of our retail investor base, investment activity per investor, and average assets under management."
Brian Dally,Groundfloor co-founder and CEO
The expansion follows Groundfloor securing $118 million in funding for the platform. It also announced a joint venture in Jacksonville after pledging $50 million to support the residential housing boom in the city. Groundfloor aims to continue its expansion spree by covering new markets, rolling out mobile apps, and creating more lending and private investment opportunities for investors.
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REAL ESTATE TECHNOLOGY
prnewswire | December 16, 2020
Paymints.io, a North Carolina based SaaS stage to move assets for land transactions, just arrived at an industry-first achievement by utilizing its foundation to dispense assets back to the customer.
The stage, which authoritatively dispatched toward the finish of Q3, 2020, is revolutionizing the business' method of trading installments during home purchasing and renegotiating measures. Worked by a group of specialists in innovation, land, loaning, and title protection, the group at paymints.io distinguished a vast opening in the moving of assets for sincere cash stores and money to close on renegotiates. As a large portion of the home purchasing venture has been digitized, moving assets or making installments is as yet done disconnected by paper checks or excursions to the bank to send a wire.
Changing How Money Moves
With the appearance of paymints.io, gone are the times of realtors minding checks or title organizations sitting tight for wires that never show up. The paymints.io solution permits the home purchaser to safely and electronically move assets by connecting their financial records to the stage and moving assets straightforwardly into the land business or title organization's escrow account. The customer entry and administrator dashboard give constant following of the exchange so both the customer and the escrow holder knows precisely where the assets are consistently.
"As experienced operators of a real estate tech company, we're hyper focused on the client experience," says Jason Doshi, Co-Founder of paymints.io. "Looking at the current client journey, it's easy to identify the gaps which drive the client offline and eventually disrupt an otherwise digital experience. The paymints.io solution meets the client at their needs but also offers efficiencies to the real estate brokerages and title companies which is why we feel it has gained so much traction, so early on. It's just what the industry needed!"
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INVESTMENTS
KNPRE 1031 | February 04, 2022
Keystone 1031 (KNPRE 1031), a sponsor of impact and tax advantaged investments, has acquired a $35,650,000 diversified portfolio of eight net leased properties in major MSAs on behalf of their current DST offering, Keystone 1031 Net Leased Portfolio II.
The single-tenant properties total more than 62,000 square feet and are leased to nationally recognized brands 7-Eleven (Las Vegas), Family Dollar (Fort Worth, TX), Goodwill (St. Paul, MN), Walgreens (Denver), O'Reilly Auto Parts (Chicago), Jiffy Lube (San Antonio, TX). Sherwin Williams (Milwaukee, WI), and Starbucks (Bloomington, IN). The portfolio is diversified across seven states and focuses on the essential retail verticals of convenience, auto repair, home improvement, and clothing & home goods. The portfolio is designed to provide capital preservation and monthly, predictable cash flow during the anticipated 10 year holding period.
This portfolio reinforces our real estate acquisition philosophy of buying strong brands in top MSAs and offering geographic, industry, and lease term diversification. The portfolio has a weighted average lease term or WALT of 11.29 years, Given the current and anticipated market environment, we are focused on continuing to deliver value to our investors by identifying real estate opportunities that provide capital preservation and predictable cash flow."
Mike Packman, KNPRE's Founder & CEO.
ABOUT KNPRE 1031
Keystone 1031 is a member of the Keystone National Property (KNPRE) family of companies. Established in 2016, KNPRE provides impact and tax-advantaged investment opportunities for accredited investors.
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