Alternative investment platform Yieldstreet announced today that it has agreed to acquire Cadre, an online real estate-focused investment platform targeting institutional and high net worth investors.
Financial terms of the deal were not disclosed.
Founded in 2015, Yieldstreet offers people a way to invest in areas such as real estate, shipping/shipping, legal finance, commercial lending and other opportunities previously only open to institutional investors. Milind Mehere and Michael Weisz co-founded Yieldstreet with a mission to make investing more inclusive for non-institutional investors.
army officer, founded by Ryan Williams and Joshua and Jared Kushner in 2014, it is an online marketplace that helps connect accredited investors with real estate operators. It claimed it gave investors a way to delve into commercial real estate deals in a “much more transparent way.The company was once valued at $800 million, but its value has reportedly plummeted in recent years. The information reported earlier this year that a buyout by Yieldstreet could value the company at roughly just $100 million. It has raised more than $133 million in debt and equity funding from investors such as Andreessen Horowitz, General Catalyst, Khosla Ventures, Goldman Sachs and Thrive Capital, among others.
The two companies have a collective investment value — defined as the combined capitalized transaction value in real estate equity plus committed amounts in all other investments since their inception in 2014 and 2015 — of more than $9.7 billion. Investors have put a total of $5.3 billion into the platforms and received $3.1 billion in returns to date, according to a statement from Yieldstreet.
Together, Yieldstreet and Cadre serve more than 500,000 members across eight institutional and retail distribution channels — 450,000 of which come from Yieldstreet and 50,000 from Cadre.
Both companies are based in New York.
Williams will remain CEO of Cadre and lead a new division focused on expanding access to the institutional audience as Yieldstreet’s global head of institutional partnerships and clients. Mike Fascitelli, an investor and adviser to Cadre, will now be global president of real estate and head of Cadre’s investment committee.
Yieldstreet confirmed that all Cadre employees will stay on, but did not specify how many.
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