The Funding Gets Faster
We’ve made the real estate transaction faster. Sometimes innovating through technology can seem intimidating, but not to our community. Our investors and partners have been embracing this change with open arms and we are excited for the growth of this network as we streamline further. But speed alone does not improve the industry. It is incumbent upon us to harness speed in a way that still holds true to the high standards put in place by the tried-and-true real estate establishment that has guided investors for generations.
That philosophy permeates the company from the top down. When RealtyShares Founder and CEO Nav Athwal appeared on The Twenty Minute VC, he joked that our company motto is “Move Fast and Don’t Break Things.” Even if the new take on the famous tech motto doesn’t catch on, it does encapsulate how we view the work we do everyday; using technology to accelerate the real estate process in a responsible way.
With that in mind, you may have noticed a new feature on our website while browsing investments. Last month we announced a new institutional partnership that will allow us to prefund all debt deals on our platform. That means quicker close times for sponsors and quicker time to accrual for our investors. You can learn more about prefunded deals in Amy’s blog post and keep your eyes peeled for the ‘prefunded’ tab on select deals.
The more we can streamline the complex real estate process through technology, the more deals we can put on our platform. That allows sponsors and borrowers to get the capital they need to get projects off the ground in a timely manner, and investors the chance to diversify and put their money to work quickly. More than $68.8 million was originated across more than 80 deals in the third quarter, beating the record high of our prior quarter.
Finally, we want to take a moment to thank you, our sponsors and investors for trusting RealtyShares with your projects and investments. We are always looking for ways to improve, so please never hesitate to reach out to contact@realtyshares.com with any questions or suggestions.
