Cadre, the New York-based real estate investment platform backed by Mark Cuban, George Soros and Jared Kushner, has sold a trio of multifamily properties for $310 million.
The company – which uses machine learning and predictive analytics to assess real estate – sold Solis at Winter Park, a 596-unit property in Orlando, FL; the Trails Portfolio, an 810-unit two-property package in Houston, TX; and Crestleigh Apartments, a 389-unit asse in Washington DC metro area.
Together, the sales represent more than $310 million in gross value and are expected to return more than $95 million in capital to investors and generate a 17.4 percent return for investors.
The sale of Solis at Winter Park (pictured top) set a record as the largest-ever successful syndication and sale of an individual asset raised and managed from an online platform, achieving an 18 percent return on invested capital, according to Cadre. Crestleigh and Trails also achieved double-digit returns, said the company.
Ryan Williams, founder and CEO of Cadre, said, “Rewarding the trust our investors have placed in us with these strong returns is gratifying, and we’re just getting started. Following a long period of uncertainty in the commercial real estate market as a result of the global pandemic, these strong realizations set the stage for the growth and scaling of our model going forward.
“Most importantly, I am thrilled that we continue to help improve more individual’s financial futures with access to premier real estate opportunities. This mission is important now more than ever.”
The sales come following Harvard Management Company’s recent investment in Cadre, as well as in the Cadre Direct Access Fund, offering individuals the opportunity to invest alongside some of the world’s most prestigious institutions.
Cadre is a real estate investment platform launched in 2014 by Williams, Jared Kushner and his brother Joshua Kushner. It primarily uses artificial intelligence to identify markets that offer the potential for outsized growth for accredited investors.
It invests through a crowdfunding platform that allows investors to participate in property acquisitions for as little as $25,000 each. To date, more than 30,000 people have opened accounts on Cadre’s network, which has invested roughly $3.5 billion in more than 40 properties across the U.S.
According to the company, the three latest sales bring overall returns to investors since its launch to $180 million.