RealtyShares, which bills itself as the “leading online marketplace for real estate investing,” announced it bought Acquire Real Estate, which the company calls an “innovative rival” that also offers a real estate investing platform.
While both companies offer crowdfunded investments in commercial and multifamily real estate, RealtyShares also offers investments in single-family residential housing for “fix and flip” and construction loans.
According to a release, each of the companies also built its business in a different way.
The release stated that RealtyShares currently has more than 120,000 registered investors and recently surpassed $500 million lent for real estate projects in nearly 1,000 deals in 39 states.
The company also just saw a record second quarter, where it tripled business over the prior year by originating almost $140 million in real estate projects.
The release from RealtyShares paints a positive picture of Acquire Real Estate, suggesting that the company “set a bar for product development within the industry” in spite of the apparent relative scarcity of funding when compared to other companies in the industry.
“Acquire focused on developing industry-first products to serve its commercial sponsors and investors, keeping the platform at the forefront of innovation despite better-funded rivals,” the release stated. “It was the first real estate marketplace to introduce a real estate exchange, investor profiles, a dynamic investment calculator and self-directed IRA investing.”