RABBLE LAUNCHES CROWD INVESTMENT PLATFORM WITH DETROIT-BASED CENTURY PARTNERS
Rabble is a groundbreaking crowd investment platform that connects people with projects that have social, environmental and financial returns. The New-York based startup leverages new regulations that allow anyone to invest with as little as $100.
Rabble’s first investment opportunity, “Back the Comeback” with Century Partners, launches on June 19th. Century Partners is a Detroit-based real estate investment company focused on the sustainable revitalization of under-invested neighborhoods. The team will fundraise $550K to rehabilitate homes in Detroit’s historic neighborhoods. Soon, you’ll be able to invest and own a part of Detroit’s renaissance.
David Alade and Andrew Colom of Century Partners are working to breathe new life into blighted neighborhoods in Detroit and democratize access to property ownership, giving anyone a chance to invest in the rehabilitation of historic Detroit neighborhoods through fund investment. Over the last two years, they’ve deployed $3.4M of equity to purchase, rehabilitate and / or lease over 60 abandoned or underutilized housing units, tackling the issue of blight and the shortage of quality family housing head-on.
Now they’ll be seeking to raise $550,000 to sustainably renovate to lease or sell single and multifamily homes in the Boston Edison, East English Village, and North End districts and continue rebuilding Detroit. By investing in this project, you’ll join the project founders in revitalizing historic neighborhoods through property renovation and management, and you’ll become a stakeholder in Detroit’s renaissance.
Excitement about Detroit’s Comeback is spreading, partly because Detroit offers investors—property owners in particular—some of the strongest ROIs (return on investment) in the U.S. Century Partners buys abandoned and vacant properties in historic Detroit neighborhoods, then renovate, rent and sell. It’s worth noting that partners Colom and Alade aren’t from Detroit. What drew them to the city is the same thing bringing investors to their project: an opportunity too good to pass up in a city central to American history.
Andrew came to Detroit in February of 2015, already an accomplished real estate developer with more 300 units in his portfolio. He has experience in all facets of real estate, from small to large scale renovations to new home construction, property management to real estate bookkeeping. He’s also a writer with a background in film production and theater. First, he saw a real estate development opportunity. Then, he fell in love with the story of Detroit and decided to become a part of it.
David, a close friend from Columbia University, was not far behind, moving to Detroit in May of 2015 to collaborate with Andrew. Prior to forming Century Partners, David spent six years in investment banking at Barclays Capital and Credit Suisse, David facilitated over $100BN in financing for mid-size to Fortune 500 companies, including tens of billions of dollars for the finance arms of the Big 3 US auto companies: Ford, GM and Chrysler. They know what it means to back the comeback through real estate development, financial inclusion and community advocacy, and have already been doing it for years. Now it’s your turn.
Century Partner’s first fund is projected to earn over 15% on an annualized basis. Now, the team is raising a new fund (of $550k) with rabble to allow everyone to take part. Together with rabble, CP is using new laws to make development in Detroit accessible and rewarding for investors as well as the city. Investors can begin with as little as $100.
CHECK OUT THE PROJECT HERE.
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Featured image courtesy of Amy Sacka @amysacka.
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