Thursday, May 24, 2018

PeerStreet Tops One Billion In Real Estate Loans

Los Angeles-based real estate loan marketplace PeerStreet the startup founded by Brew Johnson, Brett Crosby and Alex Perelman, said on Wednesday that it has just topped one billion in total loans on its platform. The company is venture backed by World Innovation Lab, Andreessen Horowitz, Thomvest, Colchis Capital, Felicis Ventures, Solon Mack and Navitas Capital, and just raised a $29.5M funding in April. The company said, at the time of that April funding, that it had just reached $900M in total loans; the company hit the $300M loan mark in May of 2017, and hit $500M in September of 2017, according to the company. PeerStreet gives investors access to real-estate backed loans, having started with short term bridge loans on non-owner occupied residential properties, and now also is now expanding into buy-to-rent, multifamily and small balance commercial real estate loans.