Acquire Real Estate Completes Crowdfunding for Pompano Beach Retail Center
Acquire Real Estate has announced the successful completion of a crowdfunding investment opportunity in Pompano Beach, FL.
The real estate crowd investing platform partnered with Katz Properties to provide an investment opportunity in Pompano Marketplace, a 238k SF fully occupied retail center along South Federal Highway. Acquire pre-funded a $369k investment in the $52M retail center, which includes a Walmart Neighborhood Market, Stein Mart and Beall’s Outlet Store among its tenants. Katz Properties, a full-service real estate investment company, acquired the center this past March for $46.8M.
The project closed quickly and attracted more than 15 accredited investors from across the US, with contributions ranging from $10k to more than $125k. Investors are expected to receive average annual returns of between 7% and 8% to be paid quarterly over a five- to 10-year term.
"Acquire pursues stable, income-producing investment opportunities managed by top national sponsors,” said Steven Bettinger, CEO of Acquire Real Estate. “In Pompano Marketplace we found exactly that, and were able to offer a smart long-term investment to our members."
Acquire has a track record of crowdfunding success with strong-performing retail centers including Sunshine Plaza in Tamarac, FL. The company’s platform features a collection of income-producing properties from top sponsors that are first pre-screened and then pre-funded by Acquire, which helps to align its interests with investors and eliminate funding risks to its sponsors.