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Mortar Capital Launches Second New York-based CRE Fund

Alongside Traditional Fundraising Methods, Mortar Using Crowdfunding to Launch a MGF Value-Add Offering
February 20, 2018
304 St. Nicholas Ave., Brooklyn

Mortar Capital Management LLC, a New York-based real estate development firm, has launched its new MGF Value - Add Offering on Real Crowd, a crowdfunding platform for the real estate industry.

Mortar is raising equity -- beginning at $25,000 for each accredited investor -- offering IRA and 1031 exchange options as well.

Previously, Mortar had directed its offerings to past investors and their extended networks. Promoting the MGF Value - Add Offering through Real Crowd allows a more widespread group of investors the opportunity to invest in New York City development, said Anthony Morena, principal of Mortar Capital.

MGF invests in New York City residential real estate through the acquisition of undervalued multifamily assets, using re-positioning and property rehabilitation to maximize returns.

Last December, Mortar Capital acquired a development site package and a multifamily building in the Brooklyn neighborhoods of Greenpoint and Bushwick. The assets, located at 167-169 Eagle St. and 304 St. Nicholas Ave., sold for a collective $5.06 million.

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