The on-line investment portal Cadre has recently succeeded in raising an additional 50 million dollars in its second funding round. Its first round funding netted it over 18 million making the total amount of money raised at over 68 million dollars. With this amount, Cadre, along with its impressive resume of partners, has positioned itself as the go-to real estate investment vehicle for institutions, endowments, and high net worth individuals. Launched by Jared and Joshua Kushner, this vehicle’s main goal is to allow institutional investors and other qualified parties to put their money into specific real estate deals rather than to limit their choice only to group funds or real estate investment trusts. The reason for this is that these grouped investments just won’t allow the kinds of high returns available with specific individual real estate deals.
Who are the principals that started and now run Cadre and what are their backgrounds? The Kushner brothers, Jared and Josh, are leaders in the fields of technology and real estate investing. Jared Kushner is the principal owner of Kushner Properties, a real estate holding and development company while Josh Kushner is the creator and Managing Partner of the investment firm Thrive Capital. He is also the co-developer of Oscar Insurance a new technology grounded insurance company based in New York. The two brothers together with their colleague Ryan Williams have now created and are principally behind the funding of real estate investment platform Cadre. Its acting CEO, Ryan Williams has a background in real estate private equity with the Blackstone Group and also with Goldman Sachs. At Goldman, he worked in the media and technology investment banking group. He has also launched many residential real estate funds acquiring and selling hundreds of them all over the United States.
Cadre’s initial funding has been led by Josh Kushner’s Thrive Capital and General Catalyst Partners a venture capital investment firm whose other assets include the startups Hubspot, Catalyst and Kayak. In addition, some of the biggest real estate investors in New York have also placed their bets with Cadre. These include SL Green Realty and Andrew Farkas of Island Capital Group. In addition, as a safety net Cadre has also achieved a $250M security for the unsubscribed portion of its shares. As a new real estate investment platform in New York, most local market makers believe that many if not all of Cadre’s early ventures will be of the income producing variety until the company has gained some traction.