Disruptive real estate marketplace lender funds over $75M and returns $25M to investors
Record-setting growth fueled by heightened interest in high-yield real estate loan investing
LOS ANGELES–(BUSINESS WIRE)–On the heels of last week’s product launches, PeerStreet, a marketplace for investing in real estate backed loans, today announced that it has reached several major growth milestones. The platform has funded more than $75 million, with thousands of investors now active on the platform. Additionally, the firm has returned $25 million to investors with zero losses to date.
“With today’s rock-bottom interest rates and recent uncertainty in other areas of peer-to-peer (P2P) lending, investors need new alternatives that deliver both attractive risk-adjusted returns and more transparency,” said Brew Johnson, Co-founder and CEO at PeerStreet. “We’re opening up access to unique real estate investment opportunities in a way that enables investors to easily diversify their portfolios.”
PeerStreet has seen investors, who were previously excited about P2P consumer loans, moving at an accelerated pace to real estate debt investments, fueling the company’s most recent growth in the second quarter. In the month of May alone, PeerStreet added over $11 million of new capital as investors diversify away from consumer debt investments, further demonstrating the increased appetite for this asset class.
“Market forces have been driving our velocity as customers discover the benefits of our platform and our asset class,” said Brett Crosby, Co-founder and COO at PeerStreet. “As other platforms are struggling, we’re fortunate to be experiencing increased growth and momentum.”
PeerStreet officially opened to all accredited investors in October 2015 and provides investors a unique opportunity to invest in institutional-quality real estate backed loans originated by professional lenders across the country. Last week the company also announced major updates to its Automated Investing and retirement investing products, as well as a new instant bank transfer feature that helps investors participate in deals as soon as they initiate a deposit. PeerStreet also received accolades from Think Realty magazine who named PeerStreet the 2016 Innovator of the Year in Lending.
About PeerStreet
PeerStreet is a marketplace lending platform for real estate debt. Founded by real estate attorney, Brew Johnson and former Google executive, Brett Crosby, PeerStreet allows investors to easily invest in high-yield real estate loans that were historically difficult to access. PeerStreet’s platform is secure and intuitive with an easy-to-use interface and a wealth of information and tools for every level of investor.
Contacts
PeerStreet
Jessica Murray
press@peerstreet.com
or
Vested
Jacqueline Gogel, +1-917-765-8720
peerstreet@fullyvested.com
