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CrowdStreet fetches $800K

Real estate crowdfunding marketplace CrowdStreet said Tuesday that it has secured $800,000 in seed funding. Green Visor Capital and Seven Peaks Ventures led the round with participation from Portland Seed Fund. In addition to the funding, Dino Vendetti, general partner at Seven Peaks Ventures, and Simon Yoo, managing partner at Green Visor Capital, have been added to the firm’s board of directors. Also, CrowdStreet has hired Ian Formigle as vice president of Investments and Steve Drew as vice president of product and marketing.

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March Capital and Triangle Peak back Agent Ace

Agent Ace said Monday that it has closed $6 million in Series A funding. The investors included March Capital Partners and Triangle Peak Partners. Based in Santa Monica, Calif., Agent Ace is a provider of real estate agent recommendation services.

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Real estate platform Urban Compass snags $40 mln Series B

New York City-based real estate platform Urban Compass has received $40 million in Series B funding. The investors included Thrive Capital, Founders Fund, .406 Ventures, Salesforce.com CEO Marc Benioff, American Express CEO/Chairman Kenneth Chenault and Condé Nast parent company Advance Publications. According to the firm, the capital infusion will be used for growth and expansion as well as invest more in technology.

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Top 10 posts

Trending on peHUB this week: Glenn Beck fundraising for TheBlaze, Spectrum Equity raising another $1 billion fund, and VCs getting excited about real estate websites.

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peHUB First Read

This Thursday morning find out how private equity is doing in your state, why it’s all about the buy-and-build and while Pritzker Group doesn’t seem to be such a fan of co-investing, UPS talks about plans for its own co-investment program.

Arent Fox expands real estate practice

Arent Fox has appointed partners Mark S. Fawer and Carolyn Austin and associate Brandilyn Y. Dumas. The newly appointed professionals will be based in the firm’s New York office, where they will focus on representing lenders, private equity funds, real estate developers, real estate investment trusts, and other investors in the financing, acquisition, disposition, and development of multifamily, retail, industrial, office, and hotel properties.

Carlyle-Backed New Century REIT to Cut HK IPO by at Least Half – IFR

(Reuters) – New Century Real Estate Investment Trust, which is backed by private equity firm Carlyle Group, plans to slash its Hong Kong initial public offering by at least 50 percent because of tepid demand for new listings in the city, IFR reported on Thursday. The IPO will be at least half the up to $254 million originally planned, IFR reported. New Century owns four five-star hotels in mainland China.

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SoMa Startup Influx Brings Fast-Rising Rents

One can gauge the health of the startup economy by poring over venture funding stats. But a far more simplistic approach is to walk around the neighborhoods that startups favor, and see how much prime office space is still for rent. Based on a recent trip through San Francisco’s entrepreneur-heavy South of Market (SoMa) district, […]

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