Pryor Cashman Client ProVest Properties Completes Equity Raise in Partnership with Real Estate Crowdfunder
Pryor Cashman client, ProVest Properties, has successfully partnered with online real estate crowdfunder, RealtyShares, to raise investment capital towards the purchase of one of its target properties.
As part of this transaction – which closed on August 16, 2016 - ProVest and Realty connected 78 investors from across the United States, amassing enough funds to help purchase a $7M cornerstone retail center in North Carolina known as Lincoln Center.
Representing ProVest in this deal – its first with a crowdfunding platform - were Pryor Cashman partners Eli B. Nathanson and Edward Normandin, both members of the firm’s Corporate Group.
Since 2003, the principals of New-York based ProVest have transacted over $1B of U.S. multi-family and commercial real estate. This most recent acquisition joins their already established portfolio of 9 other shopping centers throughout the country, valued at more than $56M.
