June 29, 2022

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Jeff Bezos Backed Real Estate Investment Platform Fully Funds Six Properties In Under 12 Hours

2 min read

The real estate investment platform Arrived Homes launched its latest batch of new offerings yesterday; six rental properties that retail investors can buy into with as little as $100. The offerings went live on the platform at 11:00 AM EDT on April 5, 2022, and all properties were fully funded in less than 12 hours.

The first two properties sold out in under two hours. The first was a five-bedroom, three-and-a-half-bathroom home in the Columbia, SC market, named The Bedford. The property was acquired by Arrived Homes for $280,000 and investors purchased the 12,317 available shares at $10 each.

The second property to sell out was a four-bedroom, two-and-a-half-bath home in the Nashville, TN market, named The Jack. Arrived Homes acquired the property for $414,755 and investors purchased all 18,359 available shares at $10 per share.

Shares of the remaining properties sold out throughout the day to a total of 750 retail investors. The total amount funded was about $800,000 with combined property values totaling approximately $1.7 million.

Arrived Homes has experienced tremendous growth since its launch just a little over a year ago. The platform funded 51 homes during the last eight months of 2021 with approximately $18.5 million in property value. So far in 2022, Arrived Homes has already funded approximately $17 million worth of properties.

The platform has been releasing new properties every couple of weeks so far in 2022. New investors can gain access to upcoming properties by monitoring new offerings on Benzinga or directly through Arrived Homes.

The company attracted interest from several high-profile investors during its seed round, with investments from Amazon.com Inc (NASDAQ: AMZN) founder Jeff Bezos through his Bezos Expeditions fund, Salesforce.com Inc (NYSE: CRM) founder Marc Benioff through Time Ventures, former Zillow Group Inc (NASDAQ: Z) CEO Spencer Rascoff and Uber Technologies Inc (NYSE: UBER) CEO Dara Khosrowshahi.

How The Arrived Homes…

2022-04-06 15:39:40

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