Our streak of above pro forma marketplace exits continues! We are pleased to announce our ninth realized offering on the marketplace with the closing of Urban Green’s Burnside project earlier this summer. Investors earned a 66.5% IRR and a 1.7x equity multiple with a holding period of just over one year on this offering (vs. a 22.0% IRR and 1.93x equity multiple on a targeted 4-year hold).

With this closing, our average annualized realized return across all nine realized offerings is now a 36.3% XIRR (we must use an XIRR calculation given the varied holding periods) and a 1.6x equity multiple on a 1.9-year holding period. Here’s how this compares to the average of our original pro forma returns:

XIRR / IRR Equity Multiple Hold Period
Actual 36.3% 1.6x 1.9 years
Pro Forma 18.9% 1.7x 4.1 years

 

Our early returns continue to fall well above pro forma (e.g. sponsors achieving business plans and reaching stabilized values ahead of schedule), and we acknowledge that this pattern may become unsustainable at some point; nonetheless, we are exceedingly pleased with our marketplace realized returns thus far. Please view our Marketplace Performance page to see details on all realized marketplace offerings.