Cadre hits $100M in investor returns milestone

September 29, 2019
Share this Post: 

Proptech startup Cadre allows individuals to invest in commercial real estate for as little as $50,000

So far, Cadre’s model has caught on. In the five years since launching in 2014, the startup now has roughly 20,000 investors who have stakes in more than $3 billion worth of real estate assets.

And with the recent sale of two apartment complexes located in the Chicago and Atlanta metro areas, respectively, Cadre says it’s hit a new milestone—$100 million in returns to its investors, to date.

The deals involve Cadre’s sale of the Skyridge Club Apartments, a 364-unit property in the Chicago suburb of Crystal Lake, Ill., and the Sugarloaf Trails Apartments, a 268-unit complex in the Atlanta suburb of Duluth, Ga.

The company offloaded the Skyridge asset for a price of $65.3 million after acquiring it for $50.9 million in November 2016; likewise, it flipped the Sugarloaf apartments for $44 million after buying the property for $30.8 million in April 2017. The entities acquiring the assets from Cadre were not disclosed.

Combined, Cadre says the two deals delivered a net IRR (internal rate of return) of more than 20% for investors and outperformed their original underwriting. “Cadre operated each asset more efficiently and at a lower cost than initially underwritten,” Co-Founder and CEO Ryan Williams said in a statement.

Read more here

Join us November 12-15 for the Property Portal Watch Conference Madrid 2019.

Property Portal Watch Madrid Summit 2019

September 29, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Zillow Housing Data
Zillow Rolls Out AI-Assisted Home Tours Nationwide

Home shoppers across the U.S. can now tour homes virtually using Zillow's free, AI-generated floor-plan tool. Zillow's AI-generated floor plan is...

Read More
Scout24 Boardroom
Scout24 Revenues Grow 15% in Q2 as User Subscriptions Grow to Nearly 300,000

Scout24, Germany's dominant portal, has released its half-year results, with strong performance across the board. Highlights include: Revenue growth of...

Read More
Shutterstock 1356000662
REA Group Smashes A$1 Billion Revenue Barrier as it Capitalizes on 'Buoyant Listings Environment' in FY22

The Australian real estate portal operator REA Group has released its report for the 2022 Australian financial year. Highlights from...

Read More
Shutterstock 502750987
Opendoor Gets Fined $62m, Partners up with Zillow

Opendoor—an iBuying specialist based in the US—has been fined by $62 million by the FTC for misleading customers and posted...

Read More

Editor's Pick