Investors Turn to Crowdfunding For Industrial ParkPosted: Updated:
An Illinois-based firm has completed a crowdfunding campaign to acquire Jackson Industrial Park in Indianapolis. As part of the $8.7 million investment, Brennan Investment Group LLC will handle property management, leasing and the eventual sale of the development. September 4, 2014
LOS ANGELES, Cal. - Realty Mogul, the online real estate capital platform connecting accredited investors to real estate investment opportunities, announced today that it has successfully crowdfunded a large industrial real estate transaction in Indiana. Realty Mogul's accredited investors contributed more than a million dollars through the online crowdfunding platform to acquire Jackson Industrial Park with Brennan Investment Group, LLC.
"We are excited to partner with Brennan Investment Group, which is nationally known for its expertise in identifying industrial properties with desirable fundamentals such as tenant diversification and high occupancy rates in attractive markets," said Jilliene Helman, CEO and Founder of Realty Mogul. "Jackson Industrial Park is another example of the diversity of commercial real estate properties, including apartment buildings, office buildings, industrial parks, self-storage facilities and retail shopping centers that have benefited from crowdfunding as a viable source of capital."
Located in the Eastern submarket of Indianapolis, Jackson Industrial Park is a 260,400 square foot industrial portfolio comprised of four buildings strategically located near major transportation arteries and providing access to 75 percent of the US population within a one day drive.1 The portfolio provides diversity with suite sizes ranging from 1,600 square feet to 22,500 square feet, and it includes an attractive and diverse tenant base that represents a broad spectrum of industries. The current 77 percent occupancy provides a unique opportunity for investors to participate in potential increases in rental income, as the occupancy reaches maximum capacity.
Based in Chicago, Brennan Investment Group will handle all aspects of the $8.7 million dollar investment including acquiring the property, implementing a property management and leasing program, and selling the property at the end of the designated hold period.
"This was our first experience with crowdfunding, and we're pleased with the efficiency of raising equity capital through Realty Mogul's online platform," said Michael W. Brennan, Chairman and Founding Partner of Brennan Investment Group and former Co-Founder and CEO of First Industrial Realty Trust. "Our experience proves that crowdfunding is a credible way to raise equity and to gain access to an untapped source of accredited investors eager to participate in the industrial real estate market for both current income and appreciation."
About Realty Mogul
Realty Mogul is an online real estate capital markets platform, connecting borrowers and sponsors to capital from accredited and institutional investors. Through crowdfunding, Realty Mogul gives investors tools to browse investments, do due diligence, invest online and have 24/7 access to an investor dashboard to watch how their investments are performing. Realty Mogul partners with borrowers and sponsors to source deal flow and curates all of the investments. For these real estate companies, Realty Mogul provides a broader capital pool and tools to do investor reporting, investor communication and distributions.
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops and operates industrial properties in select major metropolitan markets throughout the United States. Since its formation in 2010, the company has amassed a portfolio of over 14.6 million square feet of industrial property in 21 states.
Source: Realty Mogul