Carmel-based Mainstreet has sold its first property using the CrowdStreet online crowdfunding platform as a fundraising vehicle. The company says the sale of Stonecroft Health Campus in Bloomington generated a 14 percent return for investors.
MainStreet says it raised more than $1.6 million from dozens of accredited investors.
Construction on Stonecroft Health Campus began in June 2014. The 66,000 square-foot assisted living property opened last month. The investments were generated in amounts ranging from $10,000 to more than $250,000 during a four-week period in mid-2014.
CrowdStreet is based in Portland, Oregon.