Source: elmspring accelerator
CHICAGO, Ill., April 24, 2015 (GLOBE NEWSWIRE) -- via PRWEB - The elmspring accelerator, an early-stage accelerator for start-up companies in the real estate industry, is proud to announce an exciting development for PeerRealty, a real estate crowdfunding platform and one of elmspring's program participants. PeerRealty is introducing a secondary market for crowdfunded assets and private investment offerings.
The introduction of a secondary market has been a major goal of the PeerRealty team during their 3-month session working with the directors and network mentors in the elmspring accelerator. The secondary market, which will be named CFX: the Crowd Finance CrossMarkets, will allow users who have purchased crowdfunding offerings through PeerRealty to resell them to other participants. These investors can buy and sell such shares, subject only to SEC resale restrictions.
The CFX system will manage the entire lifecycle of the investment or transfer, and PeerRealty currently has a patent pending on the proprietary technology and process. PeerRealty aims to have CFX up and running within the next two to three months. Currently, PeerRealty has two large real estate investment opportunities in Illinois available on the platform--a retail shopping center and a senior housing development.
The elmspring accelerator's team is thrilled with the success PeerRealty is encountering. According to Thomas Bretz, CEO of elmspring, "PeerRealty is making the kind of upward momentum we dreamed of for our start-up participants when we first devised the accelerator program over a year ago. They are quickly becoming a force to be reckoned with in the real estate crowdfunding arena, and they are a perfect example of what goals can be achieved in the accelerator program."
The elmspring accelerator is a collaborative effort that offers unparalleled access to curated real estate connections to participating companies. Companies, such as PeerRealty, are provided with seed capital, office space, and opportunities to beta test products and refine sales strategies during the three-month elmspring session. The second session of the accelerator concluded this April. The elmspring accelerator will be accepting applications for the third session in the weeks to come. Contact info(at)elmspringaccelerator(dot)com for more information.
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elmspring accelerator Colleen OToole 415.952.5448