Jeff Bezos Backed Real Estate Investment Platform Fully Funds Two Properties In Just Two Hours
The real estate investment platform Arrived Homes launched its latest batch of new offerings today; six rental properties that retail investors can buy into with as little as $100. The offerings went live on the platform at 11:00 AM EDT on April 5, 2022, and two of the properties were fully funded just two hours later.
The first property to sell out was a five-bedroom, three-and-a-half-bathroom home in the Columbia, SC market, named The Bedford. The property was acquired by Arrived Homes for $280,000 and investors purchased the 12,317 available shares at $10 each.
The second property to sell out was a four-bedroom, two-and-a-half-bath home in the Nashville, TN market, named The Jack. Arrived Homes acquired the property for $414,755 and investors purchased all 18,359 available shares at $10 per share.
A third home, called The Louise, in Tuscaloosa, AL, is 98% funded as of this writing with only 445 of the total 13,233 original shares still remaining.
The remaining three properties are between 70% and 84% funded and are likely to sell out soon.
Arrived Homes has experienced tremendous growth since its launch just a little over a year ago. The platform funded 51 homes during the last eight months of 2021 with approximately $18.5 million in property value. So far in 2022, Arrived Homes has already funded approximately $16 million worth of properties.
The company attracted interest from several high-profile investors during its seed round, with investments from Amazon.com Inc (NASDAQ: AMZN) founder Jeff Bezos through his Bezos Expeditions fund, Salesforce.com Inc (NYSE: CRM) founder Marc Benioff through Time Ventures, former Zillow Group Inc (NASDAQ: Z) CEO Spencer Rascoff and Uber Technologies Inc (NYSE: UBER) CEO Dara Khosrowshahi.
How The Arrived Homes Platform Works
Arrived Homes finds and acquires residential rental properties, then offers shares of the properties to investors through its online platform. Investors can browse available properties and invest in whichever ones they choose.
The company handles the management of the properties while investors collect their share of the rental income and wait for the property to appreciate in value over time.
After a target hold period of five to seven years, Arrived Homes sells the property and distributes the equity to each investor according to the number of shares they own. Assuming the property increases in value, the investors share in the profits from the sale.
Find out more about Arrived Homes and the current offerings on Benzinga Alternative Investments.
Photo: Courtesy of Arrived Homes
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