Olympus Property and CrowdStreet Partner on Equity Fund
Digested from “CrowdStreet Launches $18.4 Million Core Multifamily Equity Fund Investment Sponsored by Olympus Property”
Crowdfunding investment site CrowdStreet has launched an $18.4 million equity fund featuring three Class A multifamily assets for Texas-based Olympus Property. The funds raised will be used in a joint venture equity investment. The fund is targeted to provide an internal rate of return between 12 percent and 13 percent and annual cash distribution between 6 and 9 percent.
This is the first time CrowdStreet has offered a multifamily investment opportunity and the first time Olympus has engaged in online fundraising. The minimum investment amount, which includes direct ownership of the assets, is $25,000.