The leading real estate crowdfunding platform, Fundrise (https://fundrise.com), announced today the launch of its first Florida real estate investment opportunity, a 13,000-square-foot, mixed-use development in Wynwood, Miami in conjunction with Atlas Real Estate Partners (http://www.atlasrep.com/).
As of today, accredited investors from around the country will be able to invest in project payment dependent notes tied directly to “2301 North Miami Avenue” on Fundrise’s platform, which makes quality real estate investments available to both high net worth and small-scale investors.
2301 North Miami Avenue is a recently renovated, mixed-use development located in Miami’s emerging Wynwood neighborhood. The property is 50% leased with the remaining two leases out for signature, which will bring the building to 100% occupied. The property has received interest from high-quality, design, artistic, and creative tenants, who are attracted to the relative affordability of the area as well as the artistic vibe of the neighborhood.
“Today we announce the launch of our first Florida offering in partnership with Atlas Real Estate Partners. In addition to being one of the fastest growing neighborhoods in Miami, the Wynwood Arts District is a hub for creative innovation and we look forward to supporting the growth of the community,” said Dan Miller, co-founder of Fundrise.
Wynwood, dubbed “Soho South,” is a small, industrial area in downtown Miami that is quickly becoming one of the city’s most popular neighborhoods. 2301 North Miami Avenue sits at the heart of the district, which includes over 70 galleries, retail stores, antique shops, and one of the largest open-air street-art installations in the world.
On why Atlas Real Estate Partners decided to crowdfund a portion of the project’s funding, Arvind Chary, Managing Principal, commented, “We’re excited to allow retail investors to play a role in and benefit from the growth of Wynwood. Atlas prides itself on creating projects that spur community growth and the Fundrise model of crowdfunding investment, particularly for innovative projects, fits well with our mission.”
Ben and Dan Miller founded Fundrise in 2010 with the goal of giving everyone the ability to invest in local commercial real estate. Fundrise was the first company to take real estate investment online and offer true equity ownership in local properties. Fundrise offers real estate investments for both accredited and unaccredited investors, and enables real estate developers to build their investment network and raise investment online through a full service web-based platform. Fundrise is backed by a group of leading institutions including Renren, executives from Silverstein Properties, and the Collaborative Fund. For more information about Fundrise, visit https://fundrise.com.
About Atlas Real Estate Partners
Atlas Real Estate Partners is run by managing principals, Arvind Chary and Alex Foster. Atlas focuses on value-add investments in multifamily, student-housing, retail, and office assets nationwide. Atlas has a dedicated team in each target market that is focused on deal sourcing, project management and property operations and each team uses its existing relationships and extensive market knowledge to acquire assets at a low basis, and control repositioning costs through intensive project management. Over the past three years, Atlas has closed 26 acquisitions with a total capitalization of more than $400 million. For more information on Atlas Real Estate Partners, please visit www.atlasrep.com.
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Laura Tischler, 202-584-0550