Acquire Real Estate Completes Crowdfunding at Pompano Marketplace in Pompano Beach, Florida
Acquire Real Estate, a leading real estate crowd investing platform, recently partnered with Katz Properties to provide an investment opportunity in Pompano Marketplace, a 238,800 SF fully occupied retail center located in Pompano Beach, Florida.
The crowd investing project closed quickly, attracting more than 15 Accredited Investors from across the U.S. that contributed between $10,000 and over $125,000 in investments.
Acquire Real Estate pre-funded a $369,000 investment in the property, a $52-million retail center fully occupied by Wal-Mart Neighborhood Market, Stein Mart, Beall’s Outlet Store and Ross Dress for Less. Acquire investors are projected to receive average annual returns of between 7 and 8 percent paid quarterly over a 5- to 10-year term.
"Acquire pursues stable, income-producing investment opportunities managed by top national Sponsors,” said Steven Bettinger, CEO of Acquire Real Estate. “In Pompano Marketplace we found exactly that, and were able to offer a smart long-term investment to our Members."
Katz Properties, a full-service real estate investment company, purchased Pompano Marketplace in March of 2015 for $46.8 million. The company primarily focuses on the acquisition and operation of grocery-anchored shopping centers and currently has under management more than 3.2 million square feet of commercial property.
Pompano Marketplace is a popular community shopping center located along Florida’s South Federal Highway. Investors were drawn to the strong-performing center due to its mix of anchor, restaurant and shop tenants as well as its location in the highly developed South Florida market. Anchor tenant Wal-Mart, whose lease runs through 2026, achieves over $35 million in sales at the property each year, making Pompano Marketplace one of the strongest-performing shopping centers in the area.
Acquire has a track record of crowdfunding success with strong-performing retail centers including investments in Sunshine Plaza in Tamarac, Florida and Middlebury Commons in Middlebury, Vermont. The company also recently closed its first hotel offering—the DoubleTree by Hilton Dallas-Fort Worth Airport—and is currently offering an investment opportunity in Randhurst Village, a Class A lifestyle center in Mount Prospect, Illinois and one of the largest crowd investing projects in the Midwest.
Acquire’s platform features a collection of income-producing properties from top sponsors that are first pre-screened and then pre-funded by Acquire. By pre-funding its share of deals with its own capital, Acquire aligns its interests with its investors and eliminates funding risk to its Sponsors.
Learn more about Acquire Real Estate at www.acquirerealestate.com.