Small Change has some big news.
Investors in the Buvinger Building, a successful Small Change raise in 2016, have had their investments returned earlier than expected and with a return well above projections.
“It feels great,” says Shawn Kichline, principal of Oxide Real Estate Development, LLC, the developer of the project. “To see the results of our efforts to bring this building back to its full potential, to see it help the neighborhood thrive, but more so, to provide investors the ability to see tangible investments – that’s why crowdfunding is so impactful. I’m very happy that our Small Change partners have all seen a better-than-expected return on their investments.”
Oxide redeveloped the historic Pittsburgh building, once home to a Civil War surgeon, into a boutique mixed-use building with four thoughtfully updated residential units and re-leased the ground floor to a new street-food inspired restaurant. The building is now completely full.
“Raising funds for a project like this in Pittsburgh, where Small Change is based, is particularly satisfying,” says Eve Picker, CEO and founder of Small Change. “We hope to repeat this many times. Our goal is to connect every day people to investment opportunities that make their own communities better.”
The original offering projected a five to ten-year hold period and a 13-16% IRR. Oxide Real Estate Development refinanced the building based on the strong cash flow the building is generating and was able to return investors capital above the projected returns. Investors happily have had their equity returned after just two years along with a 21%+ IRR.
Image by Small Change
NSSC Crowd offers investments under Rule 506(c) of the Securities and Exchange Commission (SEC) to accredited investors only. NSSC Funding Portal, which is a licensed Funding Portal, offers investments under Regulation Crowdfunding or Title III, per Section 4(a)(6) of the Securities Act. These investments are offered to everyone.
This is not an offer to sell securities. All investing involves the risk of loss. If you are interested in investing, and you’re over 18, please visit Small Change to obtain the relevant offering documents. You can always say hello at firstname.lastname@example.org.