PeerStreet just announced impressive results to close out the summer.
It was a busy summer at PeerStreet and we hit a number of exciting milestones. We’ve funded more than $32M in total investments, which includes the $6.56M Southern California Value Add Portfolio, the largest real estate marketplace loan ever. This loan dwarfs our first investment on the site (which was $107K) by over 60x. To date, PeerStreet has funded loans on 66 properties, with an average net yield to investors of 7.7%.
Our co-founders couldn’t be happier about PeerStreet’s progress to date and recently commented:
“Our goal is to provide investors the best risk-adjusted returns possible and the fact that we are able to do so, while growing at a faster pace than other marketplace lending platforms at similar stages in their life cycle, is exciting,” said Brew Johnson, co-founder and CEO.
Major Growth at PeerStreet
Co-founder and COO Brett Crosby chimed in, stating: “Our growth is the result of several key factors, including competitive yields, an asset class that is backed by real estate, a highly scalable loan acquisition model, and a technology platform that makes investing simple and intuitive. And of course, timing is an important factor; investors are generally much more accepting of disruptive platforms in their search to find relatively safe returns on cash.”
We also brought on several new hires to join our amazing team, including our general counsel, head of product management, head of commercial originations and asset management and head of user experience.
Everyone at PeerSreet is very excited about all the forward momentum. You can read more about what we accomplished this summer on Crowdfund Insider.
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