RichUncles.com, a technology enabled platform allowing small investors the opportunity to participate in large-scale real estate ownership for as little as $500, recently announced the launch of Rich Uncles NNN REIT.
Rich Uncles NNN REIT is a Real Estate Investment Trust that has been authorized to raise $1 billion to purchase single tenant, triple net leased properties. Rich Uncles was founded in 2012 by Ray Wirta, Chairman of the Board of CBRE Group, Inc. RichUncles.com is the realization of his long held vision of democratizing commercial real estate ownership, delivering Wall Street deals to Main Street investors.
Harold Hofer, CEO of Rich Uncles NNN REIT said “We are very excited to launch Rich Uncles NNN REIT, bringing our easy-to-use platform to investors nationwide who may not otherwise have access to commercial real estate investment opportunities.”
This latest announcement comes after the recent closing of Rich Uncles REIT I, an $80 million California REIT which originally began as a $25 million offering. It has increased its size twice and has paid over $3 million in dividends to date.
Hofer went on to explain “Our investors have limited exposure to real estate investments. Much of corporate America has made the decision to lease, rather than own, real estate, and Rich Uncles acts as a Crowdfunding conduit, delivering corporate America’s rental payments into Middle America’s pocketbooks.”
Rich Uncles was founded for one purpose only which was to make real estate investment easier and less expensive for the small investor. It has created an online distribution channel for the sale of non-exchange listed public REITs that eliminates payment of 10% commissions to financial planner intermediaries. This new distribution channel makes full use of the large-scale reach of the Internet and the ease of access to and transparency of information available over the Internet.