Details

Last Funding Type

Convertable Note

Last Funding Money Raised

$1.12M

Industries

Crowdfunding,Finance,Financial Services,Real Estate

Founded date

Apr 5, 2014

Number Of Employee

1 - 10

Operating Status

Active

CityVest is an on-line marketplace providing individual accredited investors with access to institutional quality real estate investments. The goal is to provide the simplest and best real estate investment process for individual investors, as well as providing efficient access to capital for sponsors. The CityVest.com website provides individual investors with the opportunity to browse real estate investments, conduct due diligence on the properties, and review investment documentation. The on-line closing process is simple and safe. By pooling investments of as little as $10,000 with other investors, individuals can now gain access to high return institutional quality deals. CityVest targets providing investors with relatively safe real estate investments with a 7% to 10% preferred return and a 15% to 25% IRR. Sponsors who are seeking capital for their deals also benefit as they can raise capital for their transactions in less time and without several layers of fees.

Their existing investors include the Chairman of JP Morgan Private Bank Asia, the Chairman of a NYSE company, the Chairman of a NASDAQ company and the former President of a Goldman Sachs subsidiary. There is huge interest in real estate crowdfunding which has attracted real estate moguls such as Larry Silverstein, Andrew Farkas, Simon Ziff and Jared Kushner, as well as real estate firms SLGreen, Vornado, and Guggenheim.

The market is massive with over $20 billion raised each year through traditional Reg. D private placement syndications for real estate deals. The 2,000 annual private placements are still done the old method of syndicators calling equity investors, sending pdfs of documents, and laboriously managing wire transfers. CityVest makes raising equity capital for real estate deals easy and fast.