1031 Crowdfunding Offering Student Housing DST to 1031 Exchangers
Sep 28, 2016, 04:00 ET
LAKE FOREST, Calif., Sept. 28, 2016 /PRNewswire/ -- 1031 Crowdfunding, LLC announced today that Campus Edge, DST will soon be available to 1031 exchange investors through a strategic partnership by 1031 Crowdfunding and Vie Management.
Campus Edge, DST is an investment in Campus Edge, an approximately 82,000 square foot complex with 120 units of 1, 2, or 4-bedroom apartments, offering 170 beds to students. Campus Edge is located adjacent to Kennesaw State University Marietta Campus in Marietta, GA. The property was built in 1983 and renovated in 2015. The property features new wood-style flooring, resort-style swimming pool, lounge deck, fire pit, dog park, game room, cyber-tech lounge, and a walkway leading directly to KSU.
Sponsoring Campus Edge, DST is Vie Management. Vie Management is a privately owned real estate investment company specializing in the acquisition, financing and ownership of institutional grade, income producing multifamily housing for its own account and on behalf of its investors. Headquartered in Miami, FL, in the last 15 years, Vie Management has owned or managed student housing properties valued in excess of $750 million, comprising over 15,000 beds in 13 states at 21 different universities.
"At Vie Management we believe crowdfunding is the future of equity allocation in real estate," said Vie Management Chief Executive Officer, Ari Rosenblum. "Additionally, as has occurred across other asset classes, people are less willing than ever to pay high fees for access to investment products. With this in mind, we have been looking closely at the various crowdfunding platforms over the past several years to find an opportunity to align ourselves with a group that would both be able to raise substantial equity to fund our typical deal size and understand our unique, value-add approach to student housing. 1031 Crowdfunding stood out because of their approach to raising equity and their understanding of real estate. We are excited about our partnership with 1031 Crowdfunding, and we are looking forward to growing together with them. 1031 Crowdfunding is pioneering the "low load" equity raise model that we believe is the key to attracting investor interest now and in the future."
"Our mission is to change the industry when it comes to the cost associated with DST transactions," said 1031 Crowdfunding Founder and CEO, Edward Fernandez. "A strategic partnership with Vie Management allows us to do that and will be accretive to the exchangers investing with our strategic partnership with Vie Management. With the extensive experience Vie Management has in student housing and with student housing becoming a core asset class, we feel this strategic partnership will benefit both parties. 1031 Crowdfunding will provide the equity from the investors and Vie Management will provide a core, turn-key, strong student housing asset for those investors."
Campus Edge, DST has an equity offering amount of approximately $5 million with a loan-to-value ratio of 58.45% and a first year cash-on-cash yield of 7.0%.
For more information, visit www.1031Crowdfunding.com or call (844) 533-1031.
About 1031 Crowdfunding, LLC
1031 Crowdfunding provides a range of quality properties for investors seeking a 1031 exchange through a Delaware Statutory Trust. With a compliant online investment platform, investors research opportunities, make investments with ease, and receive monthly updates. 1031 Crowdfunding was founded by Edward Fernandez along with Alfred Pizzurro, and William Erickson, aggregating 120 years of their combined experience in the securities and real estate markets.
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SOURCE 1031 Crowdfunding, LLC