RealCrowd's Record-Breaking Deal
Pyatt Broadmark Real Estate Loan Fund (focused on the Pacific Northwest) raised more than $3M in less than 120 days on RealCrowd, making it the largest debt fund capital raise by a commercial real estate crowdfunding platform to date, RealCrowd says. The fund is operated by Seattle-based Broadmark Capital, which has more than $90M in assets under management. The fund focuses on Washington, Oregon and Idaho real estate. Last year, Flaster/Greenberg attorney Mark Roderick told us crowdfunding could shake things up just as Uber has done for taxis. He says we are five years away from $50M deals getting done. (Now we're at $2M.) RealCrowd CEO Adam Hooper (pictured), who spoke at Bisnow's recent Creative Office & Tech event at Hotel Nikko, says his Palo Alto-based company has tripled to 17 employees in a year. Broadmark Capital now has a second fund open on RealCrowd that's focused on high-yield debt investments in Denver and the Mountain West.
