RealtyShares today announced that its community of investors has raised $2.25 million to recapitalize and fund the renovation of Avesta Bridgewater, a 344-unit apartment community in Orlando, Fla.

The deal is sponsored by Avesta Communities, a vertically-integrated multifamily owner-operator specializing in apartments serving the middle-income renter. They recently acquired the property below its appraised value and plan to perform renovations that will allow it to compete with higher end properties in the local market.

“We are excited to partner with RealtyShares in our first crowdfunding project,” said Andre Gonzalez of Avesta. “We think crowdfunding is an industry with significant long-term growth potential, and Avesta is committed to growing our base of capital partners through this new vertical. RealtyShares' ability to serve as the intermediary between sponsors and investors maximizes efficiency, and allows Avesta to focus on adding value to our communities and capital partners.”

Per Avesta, the newest acquisition will be a sizable addition to their 1,000+ unit Orlando portfolio, located in one of the largest and fastest growing metropolitan areas in America. Avesta Communities report acquiring 12,000 apartments worth nearly $1 billion across Florida and Texas since the company was founded in 2010.

"With the flexibility to raise minor, non-controlling equity interest in deals like Bridgewater, RealtyShares demonstrates value to deal sponsors looking to supplement their capital relationships,” said Bryan Schultz, Vice President of Equity Investments at RealtyShares. “In addition, it creates value for the private investment community by providing access to deals that are typically reserved for institutional investors. It’s a pleasure to be able to offer an opportunity to invest with a partner as established as Avesta.”

To date, the RealtyShares network of investors has funded upwards of $200 million across more than 400 investment opportunities on the platform, funding residential and commercial projects in 31 states.

RealtyShares, a leading online marketplace for real estate crowdfunding, has raised $1.5 million dollars for a 192-unit multi-family complex in Columbus, Ohio from its national network of investors.

The deal was sponsored on the platform by Hamilton Real Estate Capital, a value-oriented investment firm focused on medium to large apartment complexes. More than 75 investors took part in the raise for the Cardinal Creek Townhomes in Bexley to fund the renovation, maintenance, and management of the 35 buildings on the $5.9 million property.

“We believe this project will provide our investors with an attractive return profile given the risk,” said Eli Glanz, Principal at Hamilton. “Working with RealtyShares has given us access to a new group of investors in a straight-forward and quick process. We felt the amount of equity needed and the rationale for the investment was the perfect fit.”

Since this is an equity deal, the return ultimately realized by investors will depend upon the distributions from the project and the value of the property whenever it’s sold. While this is the first deal on the platform for Hamilton, it is the second notable crowdfunded project in Columbus in recent months. In June, 80 of RealtyShares’s investors funded over a million dollars of joint venture equity for the purchase of Courtyard by Marriott Columbus West.

“Columbus, and Bexley in particular, is seeing tangible rent growth and a falling vacancy rate with minimal new inventory slated to open,” said Bryan Shultz, Vice President of Commercial Equity at RealtyShares. “The Cardinal Creek Townhomes location is intriguing, with close proximity to major employment centers and adjacent to a new school and sports complex. The property already boasts a high occupancy rate, with more than 70 percent of the units recently renovated. Most importantly, our investors are often compelled by strong track records, and Hamilton has owned or advised on over $350 million in assets like this since 2005. It is an ideal partner for a deal like this.”

RealtyShares, a leading online marketplace for real estate investing, today announced that more than $2.6 million has been raised through crowdfunding from its network of accredited investors for the purchase of Parkside Townhomes, a 144-unit multi-family complex in Arlington, Texas.

Working closely with sponsor Network Acquisitions Partnership Alliance, a firm that invests in commercial and multi-family properties throughout Texas, RealtyShares offered an alternative source of capital for the acquisition of the $11.5 million property.

“Parkside Townhomes provides our investors with an opportunity to partner with an experienced Texas-based apartment owner in the renovation and repositioning of a stabilized asset in a strong submarket within the Dallas-Fort Worth Metroplex," said Brian Esquivel, Director of Equity Investments. "We're excited to have closed our first transaction with NAPA, funding more than $2.6 million into the joint venture. We continue to look favorably on the DFW market and are actively seeking partnership opportunities across a variety of asset classes.”

NAPA is planning to upgrade 72 of the 144 Parkside units over the first two years of the investment, improving the interiors of the units as well as the exterior and common areas of the property. The 155,400 square foot complex has an average unit size of 1,079 square feet.

In total, 98 accredited investors participated in the equity offering, averaging more than $25,000 per investment. While 17 participants hail from Texas, the bulk of the RealtyShares community involved came from all across the country, showing the viability of the platform to connect developers with potential investors nationwide.