This story has been updated to remove an inaccuracy in the 16th paragraph about Cadre’s current property portfolio.
Cadre, the financial technology company focused on real estate investing, announced the sale of two properties on Tuesday that it said validates the robustness of its platform.
The firm sold Lincoln Place, a 240-unit multifamily asset in Sacramento, Calif., with backing from 29th Street Capital, and the Lodge at Copperfield property, a 330-unit multifamily property in Houston, with backing from Knightvest Capital, for more than $125 million combined. The two deals rank among the largest property sales in the firm’s history.
Through the exit, Cadre generated an internal rate of return of about 22% and nearly doubled investors’ money in about four years in the sale of two properties, Cadre said.
Ryan Williams, CEO and founder of Cadre, started the private equity real estate investing firm after growing up in a middle class family in Baton Rouge, La., and landing jobs at Goldman Sachs and Blackstone Group earlier in his career.
“My entrepreneurial bug got a hold of me,” Williams said. “When I was at Blackstone and Goldman, I asked why Main Street investors couldn’t invest in their funds. I didn’t get any good answers other than it’s too challenging to reach the masses.”
He then set about building a financial technology platform that could act like a real estate private equity fund in some ways, but also allow individuals to participate through a website as a way to diversify their portfolio into alternatives.
Cadre focuses on high quality, yield-oriented investment opportunities and is accessible through its digital platform.
Cadre is exploring a couple of offerings to everyday investors – not just wealthier accredited investors – possibly in the form of registered funds. It’s currently hiring for the product and plans to launch a new product in the next six to eight months, according to a source.
While Cadre has…