RealtyShares Sources Debt For Seattle Student Housing Deal
RealtyShares, an online marketplace for real estate investing, has sourced $11.9M for the acquisition and partial recapitalization of a 10-property portfolio of student housing in Seattle. The properties are all in the city, and within 1.5 miles of the University of Washington.
The deal was structured to include capital sourced from institutional investors and the company's real estate crowdfunding marketplace. The deal is the San Francisco company's largest commercial real estate debt transaction so far.
“RealtyShares was able to leverage its institutional capital relationships, together with its accredited investor base, to provide the debt," RealtyShares Director of Commercial Real Estate Debt Originations Anthony Dagati said.