Texas-based wealth management firm Realized has raised $6m in a Series A funding round to strengthen its real estate platform’s team and technology.
California’s Calibrate Ventures led the funding round, which also had the participation of Minnesota-based investment firm Rice Park Capital.
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Investors can use the Realized platform to redeploy equity from legacy investment properties into diversified commercial real estate portfolios.
All this is done through a 1031 exchange, which enables an investor to defer the capital gains on investment property sale if the investor buys another ‘like-kind’ property from the proceeds of the previous sale.
Realized CEO David Wieland said: “When we launched Realized three years ago, our goal was to provide individual investors with a holistic, transparent solution to tax-efficiently trade out of their investment properties.
“The additional capital allows us to expand the Realized platform to serve more families, planning-centric investment advisers, CPAs, and attorneys seeking to deliver value to their clients considering 1031 exchanges.”
As part of the agreement, Calibrate Ventures co-founder Kevin Dunlap will gain a seat on the Realized board.
Dunlap said: “Institutions and large endowments have long invested in diverse commercial property portfolios for the attractive risk-adjusted returns. Realized provides families, individuals, and their financial advisers the ability to co-invest in professionally managed commercial property investments that historically have been out of their reach.
“Additionally, the company empowers investors with the sophisticated diversification and tax-efficient techniques that can make real estate such a powerful option for generational wealth transfer.”
