Real estate investment firm raises $1M in funding
A local real estate investment firm has raised $1 million in new equity.
Grand Rapids-based Clark Brothers Capital Corporation, founded in 2014, announced the funding today and said it has increased its private placement from $1 million to $5 million.
Clark Brothers Capital acquires and renovates undervalued properties for rentals.
“Our view is that market conditions in West Michigan present a unique opportunity to purchase homes, rent them to tenants and position the assets for revenue growth, stability and appreciation,” said John Clark, president, Clark Brothers Capital.
The initial $1 million helped Clark Brothers Capital purchase and renovate 15 properties with 21 units: 12 single-family, one multi-family and two mixed-use.
The new offering will be used to continue acquiring and renovating properties in West Michigan.