Elmspring Startup PeerRealty Now Accepting Crowdfunding Investments In Retail Property

PeerRealty, the Midwest’s premier real estate crowdfunding platform and one of the participants in the elmspring accelerator, is announcing the opening of a $1 million offering. Accredited investors will have the opportunity to invest in the 62,538-square ft. Riverside Plaza shopping center, located just an hour northwest of Chicago in the town of Belvidere, Illinois.
Illinois, and the Midwest in general, is quite new to the real estate crowdfunding game, making this offering one for the record books. The Riverside Plaza offering is one of the largest the state has seen. PeerRealty CEO Jordan Fishfeld hopes to capitalize on that fact. “Not only does this deal open the door to Midwestern investors who want to invest close to home, but it also allows independent, non-commercial investors a chance to get a piece of the action.” The minimum investment in the deal is $5,000. The Chicago real estate investment firm Crosstown Capital Partners, LLC, is sponsoring the offering.
PeerRealty is one of five participants, including HerbFront, CondoGrade, Megalytics and Camp Native, in the second session of the elmspring accelator program. The elmspring accelerator provides participants with seed capital, a network of industry leaders and mentors, including 33 Realty and Waterton Associates, workspace at Chicago’s 1871 and opportunities for its participants to pitch their ideas to interested investors. Each session lasts three months, but companies have an opportunity to continue a relationship with elmspring thereafter.
Thomas Bretz, one of the founders of elmspring, is pleased at the progress PeerRealty is making. “PeerRealty grabbed the bull by its horns when they joined the elmspring accelerator. They were already positioned to make a significant impact in the crowdfunding space, so the Riverside Plaza offering is further proof of the team’s impressive capabilities.”
For more information on the elmspring accelerator, contact Colleen O’Toole at info(at)elmspringchicago(dot)com.