Cadre hits $100M in investor returns milestone

September 29, 2019

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

Developer Generic Background
Product Roundup: Hemnet, Green Acres, FazWaz, Property Sorted and Leboncoin

Here are the product and services updates we've spotted coming from real estate marketplaces around the world this week...  ...

Read More
Affordability Calculators 1 1
Affordability Fears Are Growing – Are Real Estate Portals Paying Attention?

Only around 40% of listings on Zillow are affordable. Or, to put it another way, only around 40% of properties...

Read More
People Roundup Hero Image 3 April 25 2
People on the Move Roundup: REW, ImmoScout24 and REA India

This week's roundup of real estate marketplace comings and goings features executives on the move in Canada, Germany and India......

Read More
Cooperrocketacq 3
Rocket to Acquire Mr Cooper Mortgage Service for $9.4 Billion

Rocket Companies has announced a $9.4 billion all-share deal to acquire Mr. Cooper, the largest mortgage servicer in the United...

Read More

Editor's Pick