The Residences at Diamond Ridge
Early Stage
336-unit, value-add multifamily property near downtown Winston-Salem, NC
Overview
Raised: $298,000
Total Commitments ($USD)
Platform
Republic
Start Date
01/27/2021
Close Date
04/30/2021
Min. Goal
$25,000
Max. Goal
$525,000
Min. Investment
$1,000
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$1,000.00
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/01/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$3,239
# of Investors
82
Momentum
Funded
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Year Founded
2020
Industry
Real Estate & Construction
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
The Residences at Diamond Ridge, a multifamily property near Winston-Salem, NC, is raising funds on Republic. It is a 336-unit property with three playgrounds, a soccer field, a swimming pool, and a leasing office. The DeRosa Group plans to acquire and renovate the property. The current round of crowdfunding has a minimum raise of $25,000 and a maximum raise of $525,000, and the proceeds will be used to acquire and renovate the property. The Residences at Diamond Ridge is expected to generate a fixed interest rate return of 8% for three years. The renovation is also expected to increase the rental by $200 per unit.
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