Crowdfunding efforts for Sun Point and Central Plaza Shopping Center have landed us on the CNBC Crowdfinance 50 index
Saglo has always embraced new technology in our efforts to stay on the leading edge of the commercial real estate industry. Jack Glottmann made a decision during the Summer of 2014 to place our 2 recently acquired properties, Sun Point and Central Plaza Shopping Center, on the Earlyshares.com crowdfunding platform in order to diversify the sources of capital we would be pulling from. Our intent is to replace 90% of our own capital in each deal with outside capital with the initial thought that those funds would come from “friends and family” money.
Because you are filing with the SEC under the 506C general solicitation ruling, a tremendous amount of work and details needed to be addressed in order to comply. After a couple of months, we were able to place both properties on Earlyshares. Saglo had a proactive approach in personally contacting every potential investor which requested information on the properties. Jack Glottmann is pleased with the crowdfunding process and feels that we will continue to use crowdfunding as a source of outside capital in the future.