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.