Perduk and Elevate CEO Harold Hofer purchased more than $400M in prior real estate endeavor
NEWPORT BEACH, Calif., May 17, 2022 /PRNewswire/ — Real estate wealth tech platform Elevate.Money (Elevate) today announced the appointment of David A. Peruk as its Chief Investment Officer. Perduk’s decades-long career includes leadership positions at CBRE, Rich Uncles, RW Holdings NNN REIT and Newport Net Lease, Inc. While they were both at Rich Uncles, Perduk and Elevate CEO Harold Hofer purchased more than $400M in real estate.
Elevate.Money offers the same type of Real Estate Investment Trust (REIT) investment as Blackstone, one of the largest real estate owners in the U.S., with one key difference: Elevate focuses on a younger generation of investors who’ve been conditioned to manage money directly through online platforms
Under Perduk’s leadership as CIO, the team will continue to find, buy and manage properties that meet the Elevate Lens+ criteria. Elevate’s REIT holdings started with a Family Dollar located in Fort Worth, Texas. Additional property acquisitions will be announced this year.
"I am thrilled to join Elevate’s co-founders, Harold (Hofer) and Sachin (Jhangiani), and Alex (Cruttenden) on their mission to make real estate investing accessible for all," said Perduk. "Elevate is poised to impact the real estate market on behalf of its investors in a very real way. I’m eager to grow our portfolio for the long-term benefit our investors."
Most recently, Perduk represented institutional real estate owners focused on single tenant net lease (STNL) investment properties. This experience will be valuable as Elevate also focuses on STNL properties such as dollar stores, fast-food restaurants, car washes and gas stations.
For more information on Elevate.Money, visit https://www.elevate.money/.
About Elevate.Money
Elevate.Money, started by co-founders Harold Hofer, Alex Cruttenden and Sachin Jhangiani, is on a mission to make real estate investing accessible to more investors. In early 2021 the company raised $1.7 million in seed capital from noteworthy investors such as Walter Cruttenden, Ray Wirta and others. In September 2021, Elevate Money launched its platform allowing users to purchase shares of its private Real Estate Investment Trust (REIT) with as little as a $100 buy-in. While dividends are not guaranteed and past distributions are not indicative of future distributions, Elevate Money’s REIT is paying monthly dividends equal to 6.5% annualized. Learn more at www.elevate.money.
Risk
Investing in Elevate.Money REIT I’s common shares is speculative and involves substantial risks. The "Risk Factors" section of the offering circular contains a detailed discussion of risks that should be considered before you invest. These risks include, but are not limited to, illiquidity, complete loss of invested capital, limited operating history, conflicts of interest, blind pool risk and any public health emergency. STNL investments carry additional risks if the sole tenant defaults or goes bankrupt. Further, there is no assurance that Elevate.Money REIT I will be able to achieve its investment objectives or to access targeted investments like those identified.
Distribution payments are not guaranteed and may be modified in the future at the discretion of Elevate.Money REIT I’s Board of Directors. Distribution payments may be partially supported by fees waived by the REIT’s advisor and real estate services provider. Any such waived fees will not be reimbursed by the REIT at a later date. The distribution payments will not consist of a return of shareholder principal nor borrowings.
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SOURCE Elevate.Money
