{"id":1004125725,"date":"2015-08-20T06:01:22","date_gmt":"2015-08-20T14:01:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004125725"},"modified":"2020-04-07T10:22:28","modified_gmt":"2020-04-07T18:22:28","slug":"fundrise-goes-north-by-northwest","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fundrise-goes-north-by-northwest\/","title":{"rendered":"Fundrise Goes North by Northwest"},"content":{"rendered":"

By Liviu Oltean, Associate Editor<\/em><\/p>\n

After offering individual investors the opportunity to own a piece of the massive 3 World Trade Center<\/a><\/strong>, real estate crowdfunding and investment platform\u00a0Fundrise<\/strong> <\/a>announced that it has partnered with Pryde+Johnson to provide $2.8 million in funding for The S\u00f8ren, a Class A boutique apartment complex in Seattle.<\/p>\n

\"The<\/a><\/p>\n

The apartment community is located within the popular Ballard neighborhood and was almost halfway leased a month after opening for move-ins. The asset has a market value of $44 million, based on a cap rate of 4.75 percent and a projected NOI of slightly above $2 million.<\/p>\n

The sponsor, Pryde+Johnson, used the investment to cash out part of its $10 million equity contribution to the project and will use the proceeds to fund a new multifamily venture.\u00a0 Crowdfunding investors are expected to receive a gross annual return of 12 percent, paid quarterly over a 36-month term.<\/p>\n

\u201cThis is our fourth project in Seattle, and we\u2019re continuing to see growing demand from our investors for high-quality multifamily opportunities in the market,\u201d Ben Miller, co-founder & CEO of Fundrise, said in a prepared statement. \u201cWith their strong track record of success in building innovative projects in the city, Pryde+Johnson was a natural fit for the Fundrise platform.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

After offering individual investors the opportunity to own a piece of the massive 3 World Trade Center, the real estate crowdfunding and investment platform is setting its sights on the West Coast.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1610],"tags":[39480],"class_list":["post-1004125725","post","type-post","status-publish","format-standard","hentry","category-seattle","tag-seattle"],"acf":[],"yoast_head":"\nFundrise Goes North by Northwest - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fundrise-goes-north-by-northwest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fundrise Goes North by Northwest\" \/>\n<meta property=\"og:description\" content=\"After offering individual investors the opportunity to own a piece of the massive 3 World Trade Center, the real estate crowdfunding and investment platform is setting its sights on the West Coast.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/fundrise-goes-north-by-northwest\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-20T14:01:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-07T18:22:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Soren-2.jpg\" \/>\n<meta name=\"author\" content=\"Liviu Oltean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fundrise-goes-north-by-northwest\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fundrise-goes-north-by-northwest\\\/\"},\"author\":{\"name\":\"Liviu Oltean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/a12696609e74785a9cb5f8f7eae8bbd0\"},\"headline\":\"Fundrise Goes North by Northwest\",\"datePublished\":\"2015-08-20T14:01:22+00:00\",\"dateModified\":\"2020-04-07T18:22:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fundrise-goes-north-by-northwest\\\/\"},\"wordCount\":211,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fundrise-goes-north-by-northwest\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/Soren-2.jpg\",\"keywords\":[\"Seattle\"],\"articleSection\":[\"Seattle\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fundrise-goes-north-by-northwest\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fundrise-goes-north-by-northwest\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fundrise-goes-north-by-northwest\\\/\",\"name\":\"Fundrise Goes North by Northwest - 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