NEW YORK, Dec. 9, 2015 /PRNewswire/ -- Acquire Real Estate, a leading real estate crowd investing platform, recently partnered with Katz Properties to provide an investment opportunity in Pompano Marketplace, a 238,800 SF fully occupied retail center located in Pompano Beach, Florida.
The crowd investing project closed quickly, attracting more than 15 Accredited Investors from across the U.S. that contributed between $10,000 and $125,000 in investments.
Acquire Real Estate pre-funded a $369,000 investment in the property, a $52-million retail center fully occupied by Wal-Mart Neighborhood Market, Stein Mart, Beall's Outlet Store and Ross Dress for Less. Investors are projected to receive average annual returns of approximately 7.5% paid quarterly over a 5- 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 new and rewarding investment opportunity to our Members."
Katz Properties, a full-service real estate investment company, purchased the property in March of 2015 for $46.8 million.
Pompano Marketplace is a popular shopping center located along Florida's South Federal Highway. Investors were drawn to its strong mix of anchor, restaurant and shop tenants as well as its location in a highly developed market. Anchor tenant Wal-Mart achieves over $35 million in sales at the property each year, making Pompano Marketplace one of the strongest-performing shopping centers in the region.
Acquire has a long record of crowdfunding success with strong-performing retail centers including Sunshine Plaza in Tamarac, Florida and Middlebury Commons in Middlebury, Vermont. The company is also offering an investment opportunity in Randhurst Village, a Class A lifestyle center located in Mount Prospect, Illinois which is currently one of the largest crowd investing projects in the U.S.
Acquire's platform features a collection of income-producing properties from top sponsors that are first pre-screened and then pre-funded by Acquire. By pre-funding its share of deals with its own capital, Acquire ensures that all interests are aligned and eliminates funding risk to its Sponsors.
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SOURCE Acquire Real Estate