(MENAFN - PR Newswire)
GREAT NECK, N.Y., April 10, 2019 /PRNewswire/ -- Sharestates , a marketplace lending platform that connects real estate developers with investors, was crowned Top Real Estate Platform at LendIt Fintech USA 2019 in San Francisco, California on April 9, 2019. The Top Real Estate Platform award is based on performance, volume, growth, product diversity, and responsiveness to stakeholders. Over the past five years, Sharestates has become a leading real estate platform by focusing on clients and investing heavily in the platform and its employees to streamline the borrowing and investing experience.
"Sharestates has shown impressive growth over the past year while also providing great returns for investors. They deserve the LendIt Fintech Real Estate Platform of the Year for 2019," said Peter Renton, Co-Founder & Co-Chairman, LendIt Fintech.
"To think only five years ago we walked into LendIt not knowing what to expect as part of an industry that was beginning to find its way into the financial marketplace as Private Lenders, and today we are acknowledged by our peers as a leader in the space," explains Co-Founder and CEO, Allen Shayanfekr. "It's humbling, and we look forward to continued success through strategic partnerships as well as being part of a monumental financial movement. On behalf of our organization, I'd like to thank LendIt Fintech for such an honorable award. We are very excited about the coming year, and our product rollouts. The community spoke, we listened, and we're ready to execute!"
As Sharestates continues to grow they've expanded their offerings to meet the needs of the evolving practices of their professional community. Now operating in 46 states, Sharestates offers diversified asset classes including residential, multi-family, mixed-use, commercial properties, and land acquisitions. Loan types include short-term, long-term, and non-performing loans across different stages of development from ground-up construction to stabilized properties. Sharestates focuses on debt offerings, but also offers equity investments through the Syndicate Profile platform, and every project is carefully underwritten with a proprietary 34-point risk assessment scoring matrix.
Since launching in 2015, Sharestates has closed on over $1.7 billion in total loan volume and returned over $675 million in principal to investors. Average annualized returns have exceeded 10% every year. As a result of its strong performance and valued relationships, 82% of Sharestates loan volume has come from repeat borrowers and 81% of its investors are repeat investors.
LendIt Fintech is the world's largest event series dedicated to connecting the entire fintech community, including the lending, digital banking, and blockchain segments. The conferences bring together leading financial innovators, banks, investors, enterprise technology platforms, and service providers to share the latest trends and facilitate networking. LendIt Fintech hosts three conferences annually: LendIt Fintech USA, LendIt Fintech Europe, and LendIt Fintech China, and dozens of complementary online and in-person events. LendIt also owns and operates one of the world's leading industry educational channels, Lend Academy.
Sharestates is a real estate investment marketplace that allows individual and institutional investors to participate in rigorously vetted debt offerings. All of the offerings on Sharestates' platform have passed through a 34-point underwriting process. Founded by Allen Shayanfekr and real estate veterans, Radni Davoodi and Raymond Y. Davoodi of the Atlantis Organization, Sharestates has combined proprietary technology with a proven track record of business development expertise to become the fastest growing real estate crowdfunding marketplace. Its growth can be attributed to a strong leadership team, strict loan acquisition and underwriting practices, its ability to cut the cost of capital for borrowers, and the platform's ease of use for borrowers and investors.
Media Contact: Justin Peterson SVP of Marketing 212-201-0750
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