sharestates

Sharestates muscles into peer-to-peer Top 10

By GREGORY ZELLER // Bulked up with an added $20 million from its chief institutional investor, Great Neck-based Sharestates has cracked the top 10 of U.S. real estate crowdfunders, according to Lend Academy, the authoritative online data hub for peer-to-peer lending. In a report published this month, Lend Academy said Sharestates funded 33 projects and originated $32.3 million in deals between June and August, recording $15.5 million in August loan originations alone. That puts the Long…


CEO Allen Shayanfekr

Sharestates lands $30M to expand RE investments

Sharestates, the Great Neck-based online real estate investment platform, announced a $30 million commitment from Ranger Direct Lending Fund that will expand the startup’s  direct lending in residential, commercial and mixed-use properties in New York. Founded in 2013 by Allen Shayanfekr and title insurance veterans Radni and Raymond Davoodi, Sharestates focuses on financing fix-and-flip loans with an average value of $350,000.  So far, the firm has raised a total of $4.5 million for 13 projects. Ranger’s money could…