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Crowdfunding boosts $8.7 million industrial real estate deal

posted Sep 4, 2014, 4:33 PM by J Shaw
Chicago-based Brennan Investment Group found an unusual way to raise money to purchase the Jackson Industrial Park on the Far Eastside — crowdfunding.

The method often used by nonprofits, artists and musicians raised $1 million for the $8.7 million purchase.

Brennan used startup crowdfunding firm Realty Mogul.

Realty Mogul’s investors pool money through a digital collection system to buy shares of real estate investments, including apartment buildings, offices, industrial parks, self-storage centers, medical offices, retail centers and mobile home parks.

Brennan will manage the Jackson Industrial Park, a 260,400-square-foot industrial complex with a mix of small and large tenants. The industrial park is 77 percent occupied.

Brennan, which had not worked with a crowdfunding company before, credited Realty Mogul for helping to make the deal happen. Realty Mogul’s investors will see a return through a share of the rental income.

Posted from:http://www.indystar.com/story/money/2014/09/04/crowdfunding-boosts-million-industrial-real-estate-deal/15068811/

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