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|Articles - October 2013|
|Monday, September 30, 2013|
BY PAIGE FRANK
Founders of a Bend-based crowdfunding company are betting that the online masses will be as hungry to invest in old-school commercial real estate as they have been to back Spike Lee movies and premium hooded sweatshirts. CEO Darren Powderly and his two partners launched CrowdStreet in September, offering for as little as $5,000 shares in six commercial real estate projects in California and Oregon. CrowdStreet will eventually list commercial real estate investments in other Western states. “We’re taking that whole concept of real estate syndication, and we’re applying today’s technology,” Powderly says. For now, only “accredited” investors with a net worth of at least $1 million or earnings over $200,000 can invest through CrowdStreet. But Powderly expects the pending Securities and Exchange Commission rules and regulations for the Jumpstart Our Business Startups Act will “democratize” commercial real estate investing. “When the JOBS Act was announced, we knew immediately that the crowdfunding concept could be applied to investment real estate, and we just went for it,” he says. “There’s a whole bunch of up-and-coming Gen Xers and younger folks who are comfortable with this behavior of transacting online.” CrowdStreet caters to hands-off investors not interested in the day-to-day management of shopping centers, apartment complexes and office parks. Investors pay nothing to CrowdStreet, which makes money by charging fees to property owners with projects listed on the site, says Powderly, who has sold commercial real estate for 10 years.
PRODUCT: Commercial real estate crowdfunding investment platform
CEO: Darren Powderly
MONEY TRAIL: “We have not gone out and raised $1 million worth of [venture capital] money just to see if we have a good idea,” Powderly says. “We’ve bootstrapped this with very conservative resources. At some point in time, we will have to raise a lot more capital and expand and hire 15 to 20 people to grow the business, but at this point, we’re lean and mean.”
FRAUD CONTROL: CrowdStreet vets investments and the people behind them through criminal background and reference checks. “We really want to, maybe more so than anything else, prevent any bad actors from participating in our site,” Powderly says.
Tuesday, June 23, 2015
Oregon’s new marijuana law is expected to lead to a bevy of new business opportunities for the state. And not just for growers. Law firms, HR consultants, energy efficiency companies and many others are expected to benefit from the decriminalization of pot, according to panelists at an Oregon Business breakfast meeting on Tuesday.
Tuesday, May 26, 2015
BY LINDA BAKER
Spring rains are the bane of an Oregon cherry farmer’s existence. Even a few sprinkles can crack the fruit so badly it’s not worth picking. Science to the rescue: Researchers at Oregon State University have developed a spray-on film that cuts rain-related cracking in half, potentially saving a season’s crop. The coating, patented as SureSeal, is made from natural chemicals similar to those found in the skins of cherries: cellulose, palm oil-based wax and calcium.
Wednesday, June 03, 2015
As part of our green workplaces story, Oregon Business checked out a community service project undertaken by Portland Youth Builders, a nonprofit alternative high school. In partnership with Whole Foods, PYB built garden boxes for a Home Forward housing site. Home Forward is a government agency that provides housing for low income residents and people with disabilities.
Friday, May 22, 2015
BY LINDA BAKER | EDITOR
Roy Kaufmann always lands on his feet.
Friday, May 22, 2015
BY JACOB PALMER
A Power Lunch at Oswego Grill.
Friday, May 22, 2015
BY CHRIS NOBLE
The right sunglasses can protect your eyes and look cool at the same time. This being the 21st century, select shades are socially conscious, too. Portland brand Shwood uses wood and other natural materials and manufactures locally. Founded by Ann Sacks, the brand Fetch dedicates a portion of its profits to animal welfare. But whether you choose classic tortiseshell or aviator chic, please, shed the sunglasses when you walk in the door — and, of course, at night.
Thursday, June 18, 2015
While most categories of commercial real estate have performed well, one of the most robust has been apartment buildings.
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