Acquire Real Estate, a leading real estate crowdfunding platform, recently sold out its crowdfunding investment in 57 Littlefield Street, a $16.5 million industrial property located in Avon, Massachusetts.
The crowdfunding project attracted a dozen investors from across the U.S. that contributed between $3,000 and $100,000 in investments.
Acquire Real Estate pre-funded its investment in the property, a 407,466 square foot industrial property occupied by five tenants and currently providing an Net Operating Income (NOI) of approximately $1.2 million. Investors in the property are projected to receive average annual returns of between 8.5 and 11 percent paid quarterly over a 3- to 5-year term.
“57 Littlefield offers a unique combination of credit tenancy and stability through near-term cash flow,” said Josh Klimkiewicz, President of Acquire Real Estate. “Historically these type of institutional-quality investment opportunities have been unavailable to smaller investors, but through the Acquire platform, Accredited Investors can now access these types of deals.”
The Acquire platform can be accessed at www.acquirerealestate.com.
57 Littlefield Street is a sprawling industrial building located 20 miles south of Boston along the busy Route 24 corridor. The property is among the largest industrial buildings in the region and has enjoyed historically steady occupancy.
Although Acquire has a long record of success with strong-performing retail centers—including investments in Pompano Marketplace in Florida and Middlebury Commons in Vermont—this is the company’s first investment in the industrial sector. Acquire also recently offered its first 506(c) General Solicitation offering in Randhurst Village, a $114 million Class A lifestyle center located in Mount Prospect, Illinois. The property is currently the largest real estate project to use crowd investing in the Midwest.
Acquire’s platform features a collection of income-producing commercial properties that are first pre-screened and then pre-funded by Acquire. The company is just one of three platforms in the industry to pre-fund its crowdfunding investments. By pre-funding its share of deals, Acquire ensures that all interests remain aligned and eliminates funding risk to its Sponsors.
To learn more about Acquire, visit www.acquirerealestate.com.
