DiversyFund Announces First Cash Dividend Distributions to DF Growth REIT Investors

SAN DIEGO, Feb. 15, 2023 /PRNewswire/ -- DiversyFund has made the first cash distributions to investors in the DF Growth REIT, LLC (REIT I) fund. This disbursement totaled $4 million and represents an approximate 6.1% annualized return for REIT I investors. Initial distributions were made on December 31, 2022. The annualized return for this disbursement is based on the sale of assets in the portfolio and does not represent the prospective total return for Growth REIT I. The fund is continuing to perform as expected.

The beginning of the pandemic caused a serious downturn in US real estate markets, and REIT I began aggressively purchasing assets from operators looking to liquidate at a fair price. The fund strategy is to consistently monitor the real estate market, and in 2022 fund managers noticed the market beginning to peak. Taking advantage of these favorable conditions, DiversyFund decided to market four stabilized assets in the Salt Lake City, UT, and Charleston, NC, markets. All four of these assets were sold.

REIT I is currently in the middle of a projected 5 to 7-year lifecycle that began in 2018. As well as distributing a cash dividend to investors in the fund, REIT I has redeployed capital into additional value-add opportunities. Co-investments were made by the fund into Cobble Hill, a 136-unit multifamily asset built in 1984, and Village Creek, a 184-unit asset built in 1980. Both of these assets are located in the thriving Dallas-Fort Worth market and present strong potential. In addition to its Growth REIT funds for non-accredited investors, DiversyFund's Premier Offerings present accredited investors the opportunity for direct investment into single assets, the latest of which is The Independent—a 61-unit multifamily property located in Monterey, CA, which shows high potential for strong growth.

About DiversyFund: DiversyFund Inc. is a leading fintech investment platform based in San Diego, offering the everyday investor access to private real estate markets, focused on multifamily assets. DiversyFund's founders and its leadership have combined their expertise in real estate investing, syndication, fund management, and technology to democratize investing. The company's institutional-quality offerings are now available to everyone through an innovative use of technology and a unique business model. DiversyFund Inc. boasts a community of over 300,000 users, including 30,000 investors. Visit DiversyFund.com for more info.

Contact: [email protected]

SOURCE DiversyFund