Real Estate
Crowdfunded Real Estate Deals Unravel as Funds Vanish
- Online platform CrowdStreet says it takes fraud risk seriously
- Nightingale Properties was set to handle Miami, Atlanta deals
This article is for subscribers only.
Hundreds of regular investors who together put up $63 million to buy pieces of Atlanta and Miami commercial real estate have allegedly seen their funds disappear.
Two deals orchestrated by CrowdStreet Inc., a real estate investment company that crowd-sources funds from relatively wealthy individuals, have fallen apart as investors’ money vanished from bank accounts earmarked to buy equity in buildings, according to bankruptcy court papers.