May 6, 2019
J. Jeffers & Co. raised a remarkable amount of funding from investors on CrowdStreet for The Huron Building, a 11-story, 163,000-square-foot development in Milwaukee. In addition to a $39 million construction loan from Associated Bank, $21 million in equity investment was raised, including $14 million on CrowdStreet from more than 400 investors.
Notably, $10 million was received in 80 minutes on CrowdStreet, followed by $14 million overnight and $16.7 million in total offers submitted.
J. Jeffers & Co.’s Joshua Jeffers says, “Towards the end of the webinar on CrowdStreet, just as we were opening it up for questions, we glanced at the screen and realized we had already raised $10 million. It was incredible.” Jeffers expected to raise $7 million or $8 million after several weeks of marketing.
The $60-million institutional-quality project recently broke ground in downtown’s 3rd Ward. The property is 48% pre-leased to law firm Husch Blackwell, and is expected to deliver in December 2020.
For comments, questions or concerns, please contact Dennis Kaiser