RealtyMogul has invested a total of $4.9 million in two shopping centers. The transactions include $3 million in a Waterbury, Connecticut-based mall and $1.9 million in a retail center located in Orange County, California.
LOS ANGELES–(BUSINESS WIRE)–MogulREIT I, a real estate investment trust (“REIT”) designed to offer investors potential cash flow through managing a diversified portfolio of commercial real estate investments, today announced that it has completed investments in two community-based retail centers.
MogulREIT I, as part of its diversified income strategy, recently completed two preferred equity investments in community-based retail centers. Community-based retail centers are centrally located within their respective population centers and focus on durable tenancy that serves the needs of the working community, thereby being less susceptible to internet retailing. The transactions include a $3 million preferred equity investment in a retail center in Waterbury, CT, consisting of three multi-tenant strips with 17 suites across 50.5 acres and a $1.9 million preferred equity investment in a retail center comprised of two lots with over 27,000 square feet located in Orange County, CA. CoStar reports that within a one-mile radius of the property, average household income is over $116,000.
“MogulREIT I was designed to offer investors exposure to a diversified portfolio of commercial real estate investments, and we believe these assets further our objective of creating potential passive income,” said Aaron Halfacre, President at RealtyMogul. “Our focused strategy on community-based or ‘workforce retail’ investments is designed to provide durability while strategically benefitting from pricing anomalies given recent broad-based concerns about the retail sector overall.”
The retail center in Waterbury, CT, was offered to all investors in MogulREIT I, and the property in Orange County, CA, is also earmarked for MogulREIT I. MogulREIT I has distributed over a year of consecutive monthly distributions equal to an 8% annualized basis since inception.*
* MogulREIT I has consistently declared distributions on a monthly basis since it started its operation. All distributions equate to approximately 8.00% based upon the historical NAV. The annualized basis distribution is not a guarantee or projection of future distributions, and the Manager may in the future declare lower distributions or no distributions at all. While the Manager is under no obligation to do so, the annualized basis distributions assumes that the Manager will declare distributions in the future similar with the distribution disclosed herein.
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We offer capital financing opportunities to qualified real estate companies, and through our rigorous vetting we’re able to hand-select opportunities for our discerning investors. RealtyMogul offers securities through North Capital Private Securities Corporation, member FINRA/SIPC.