EQUITYMULTIPLE launches real estate crowdfinance platform

Brooklyn, NY EQUITYMULTIPLE, an online marketplace that facilitates more accessible, efficient and transparent real estate investing and financing, revealed its entrance into the marketplace with the public launch of its first deal, an equity offering of $750,000 for a redevelopment project in Brooklyn. The sponsor, Bushwack Capital, will develop a $7 million, mixed-use project in the borough neighborhood of North Bushwick. A former warehouse will be redeveloped into a 9,500 s/f music venue with 5,500 s/f of retail and food and beverage space. In an initial private launch, EQUITYMULTIPLE has secured the interest of several experienced real estate investors, and the project is already partially funded. The company also has a number of additional projects that it plans to make available to investors this fall. Developed in partnership with Mission Capital Advisors, a national real estate capital markets firm that has closed more than $65 billion in real estate financing and loan and real estate sales, EQUITYMULTIPLE is led by a team that possesses a long history of transaction execution and client services. The real estate experience and relationships of its founders differentiate EQUITYMULTIPLE from other real estate crowdfunding platforms, and its seasoned management and investment teams will ensure that the platform provides its users with compelling investment opportunities. “With the maturation of technology and the impact of the JOBS act, the time has come for the real estate industry at large to embrace the enormous potential of marketplace finance, and to open their transactions to new investors,” stated Charles Clinton, CEO of EQUITYMULTIPLE. “We’ve really only seen the tip of the iceberg in this regard. With Mission Capital’s access to major sponsors and deals across the country, EQUITYMULTIPLE is positioned to grow rapidly. We’re confident that sophisticated real estate investors will continue to flock to the site and we’re excited to open our platform to new investors who did not previously have easy access to real estate investment opportunities.” EQUITYMULTIPLE is led by Clinton, a real estate attorney who worked on a variety of multi-billion dollar transactions for clients such as Blackstone and KKR, and Chief Investment Officer Marious Sjulsen, who previously worked in real estate private equity and development for nearly a decade. The leadership team also includes Mission Capital executives Peter Shankar, David Tobin, Stephen Emery and Jordan Ray. EQUITYMULTIPLE will leverage its partnership with Mission Capital to source deals from some of the largest sponsors in the industry as well as smaller developers who are often neglected by institutional investors. The marketplace will focus primarily on stabilized assets with predictable cash flow and value-add opportunities, and will host two to five concurrent offerings. As the platform grows, it will expand to offer a larger number of investment opportunities. “One of the major benefits of EQUITYMULTIPLE is our industry-leading review process,” said Sjulsen. “Our investment team of real estate capital markets veterans rigorously evaluates sponsor track records and the risk and return of each deal. The vetting process ensures that only quality investment opportunities are offered to our users.” As part of their strategic partnership, the senior management of Mission Capital led EQUITYMULTIPLE’s preliminary venture capital financing round.  Later this year, the company plans to seek additional capital to fuel expansion and product innovation. In the coming months, the company will introduce additional technology products that will be responsive to the demands of both investors and sponsors. “Marketplace finance will permanently transform the real estate capital markets,” said Tobin, a principal of Mission Capital, who also sits on the board of EQUITYMULTIPLE. “EQUITYMULTIPLE was formed in partnership with Mission Capital Advisors, and we’re constantly looking for operational and strategic synergies between the two companies. With the combined resources of the two companies, our joint platform surpasses other crowdfunding sites by providing sponsors with both debt and equity financing, finally bringing to market a comprehensive solution for the full capital stack.”