iFunding, a New York City-based commercial real estate crowdfunding platform, announced it has repaid its largest commercial loan to date for an investment in a $55 million construction project for two Courtyard Marriott hotels and an office building located in Stamford, CT. The deal offered participants an opportunity to investment with a $1 million mezzanine loan alongside a Forbes 50 Family Office. The real estate loan was repaid ahead of schedule.
“iFunding takes pride in offering its investors opportunities to participate in large commercial projects,” said William Skelley, iFunding founder and CEO. “By partnering with highly regarded organizations in the real estate industry, we are able to deliver the best investments for our investors.”
This was iFunding’s second project in conjuncture with the family office, which has brought five deals to the iFunding real estate crowdfunding platform. Seaboard Properties was also involved as the project sponsor for the $55 million project. That firm owns and manages a portfolio of diverse commercial and residential properties.