RealCrowd Raises $1.6M to Bring Crowdfunding to Real Estate

RealCrowd Inc. is a San Francisco startup that brings equity crowdfunding to the real estate industry. Real estate operating companies can use this company to spread information about their projects as well as seek further funding. RealCrowd can be used as a tool to put real estate companies in contact with verified and accredited investors. Investors can find deals through RealCrowd and put their money into and asset class, giving them access to properties they otherwise would not know about. The company raised $1.6 million in a seed round. Xebec Realty Parners in Los Angeles, a firm using RealCrowd, has already received 70% of the 2 million in funding it needs for a project in Central LA. The firm listed the project on February 9th and is expected to close the deal in the next few weeks. This type of funding usually takes far longer, and as a result of RealCrowd Xebec's existing investor base has grown considerably. The company has done incredibly well with little funding. RealCrowd has the potential to bring the real estate industry online, and may be setting the stage for the next generation of real estate. 

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Nick Banks

Nick created Front Street Commercial Real Estate Group in 2002 and spent the first eight years developing and acquiring office and retail projects in South Florida as well as North Central Florida. In 2010 the focus of the firm was shifted to primarily serve third party clients and perform brokerage, property management and mortgage banking functions. Nick has personally developed and acquired nearly 200,000 square feet of office and retail properties in markets throughout Florida. Prior to founding Front Street, Nick was the Director of Finance and Dispositions for Stiles Corporation in Fort Lauderdale where he financed and sold over $500 million in commercial real estate. Before joining Stiles, Nick was an Associate Director at GE Capital Real Estate where he sourced over $200 million in financing throughout Florida. Nick is a graduate of the University of Florida with a degree in Finance and a concentration in Real Estate. He serves as a board member and current vice-chair for the United Way of North Central Florida where he also chairs the Development Committee. Nick is actively involved with the Gainesville Area Chamber of Commerce where he serves as a board member and committee member for the Council for Economic Outreach. He is also a recent graduate of Leadership Gainesville which is a year long leadership program hosted by the Chamber. He is a member of Grace United Methodist Church where he has served as finance chair and as a member of the leadership council. Nick serves as an advisory board member of the University of Florida Bergstrom Center for Real Estate Studies. Nick was recently named chair of the Gainesville committee for the North Florida chapter of Urban Land Institute (ULI). He is a licensed real estate broker in the State of Florida and is a long time member of the International Council of Shopping Centers.

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