Lenders' Insatiable Appetite for Commercial Real Estate
Crowdfunding Backing Manayunk Retail, Office Project | by Alison Burdo
A recently launched crowdfunding campaign will give Pennsylvania residents the chance to invest in real estate while challenging the traditional financing model ... With the assistance of Fundrise, developer Shift Capital is hoping to raise $500,000 of the $3 million it needs to rehab the 7,500-square-foot future Manayunk home of the Transfer Station, which will offer retail, office, and event space for paying members to share. "This type of project would appear very risky from the bank's perspective," said economist Sam Chandan, who teaches real estate at the University of Pennsylvania's Wharton School.
Read the full story in the Philadelphia Inquirer.