Real Estate Crowdfunding Platform RealtyShares Buys Rival Acquire Real Estate
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.”