Real estate investment marketplace Sharestates has surpassed the $300 million plateau in total funds earmarked for loan purchases on its platform. New deals with Colony American Finance and Prime Meridian Capital Management made it possible.
In a release Sharestates said they have delivered an average net yield of 10.4 percent and more than $23 million to investors without any loss of principal in little over one year in operation.
“Institutions, like Colony American Finance and Prime Meridian – as well as accredited individual investors – are looking for partners in this space that have large pools of qualified borrowers to select from and track records that reflect superior underwriting,” Founder and CEO Allen Shayanfekr said. “These loan purchases will enable us to offer frequent opportunities for investors to diversify, while also giving individuals the increased confidence that comes with investing in the same deals as accomplished institutional firms.”
“There are only a handful of platforms in the real estate marketplace lending space that have shown the ability to source and identify some of the strongest borrowers and best projects, which is the key to consistent results,” Prime Meridian Managing Director Peter Lowden said. “Sharestates’ track record for delivering value-added returns makes it an attractive platform for purchasing loans,”