MogulREIT I has completed an investment in a $6.69 million mixed-use building in San Francisco, its 15th transaction since inception.
MogulREIT I was designed to offer investors potential cash flow through managing a diversified portfolio of commercial real estate investments, including, but not limited to medical office buildings, multifamily apartment complexes, office spaces and retail shopping centers.
“We believe this asset further diversifies the portfolio and increases its ability to provide passive, consistent cash flow,” said Aaron Halfacre, president at RealtyMogul.
San Francisco is home to several of the nation’s largest employers, including Uber, Salesforce and Wells Fargo. Residential home prices remain high, creating a structurally tight market that forces many people to rent by necessity, causing rents to increase. According to CoStar, rent gains in the city from 2009 to the end of 2015 were roughly 31 percent, among the best in the country.
“The chronic workforce housing shortage in San Francisco creates a unique demand environment and a very desirable real estate investment market,” said Chris Fraley, CIO at RealtyMogul.