Market Overview

RealtyShares and Novaya Real Estate Ventures Exit Industrial Property Investment

Share:

RealtyShares, an online platform for commercial real estate investing,
has announced that one of its investment syndicates recently exited an
industrial investment property—1 Distribution Center Circle in
Littleton, Massachusetts—in partnership with Novaya Real Estate
Ventures, an established Boston-based operator of commercial real estate
throughout New England.

This Class A industrial building located thirty miles outside of Boston
was purchased by Novaya in December 2016 for $41.3 million. In April
2017, a RealtyShares vehicle invested $1.5 million in a recapitalization
opportunity, and the asset sold in June 2018 for $51.3 million, almost a
year ahead of plan.

"RealtyShares was drawn to this investment opportunity due to the
property's exceptional condition, its proximity to Boston, and the track
record of the operating partner, Novaya," said Bryan Schultz, Vice
President at RealtyShares. "We're happy to have played a part in this
project, and we look forward to working with Novaya on additional
investments throughout New England."

At the time of RealtyShares' investment, the 480,000 square foot
distribution facility was 88% occupied. Novaya pursued a value-add
strategy and succeeded in bringing the property up to 100% occupancy
after six months of operations. During the course of the investment
period, the asset's net operating income increased 118%. The property
was sold to an institutional buyer seeking to acquire a core asset with
full occupancy.

"We were thankful to have the experienced team at RealtyShares as a
partner on this deal," said Novaya Principal, James Alden. "The brevity
and flexibility with which RealtyShares was able to provide the capital
we needed helped enable us to execute on our business plan and exit in a
timely fashion."

New England Distribution Center marks the first project completed by
Novaya with RealtyShares. Novaya reports having acquired more than $500
million in assets since 2012 and having sold more than $70 million in
the same period. The company primarily focuses on industrial, office,
and retail assets throughout the New England region.

Please note that past performance is not indicative of future results.
Investments on the RealtyShares platform are private placements that are
subject to less regulatory oversight and review than traditional public
securities. Investments in private placements are illiquid and subject
to the risk of complete loss of capital. Consult with a financial
advisor, attorney, accountant, and any other professional to understand
and assess the risks associated with any investment opportunity.

About RealtyShares

RealtyShares is a real estate investment platform that gives investors
direct access to quality commercial real estate investment
opportunities. We connect our network of individual and institutional
investors with experienced real estate operators looking to raise
capital to improve properties for higher, better use. Venture-backed by
premier investors such as 500 Startups, Union Square Ventures, General
Catalyst, Cross Creek Advisors and Menlo Ventures, RealtyShares has
deployed more than $840 million over 1,100 investment opportunities in
41 states.

Securities offered through North Capital Private Securities Corporation,
member FINRA / SIPC.

View Comments and Join the Discussion!