Kansas shopping center sale an early example of real estate crowdfunding

A Kansas real estate property, Greystone South Shopping Center in Lenexa, recently changed hands with a little help from the “crowd.”

Through real estate crowdfunding website Realty Mogul, a late 2012 startup, 23 investors came together to invest in the property. The shopping center was acquired by Block Real Estate Services of Kansas City for nearly $4 million, including a portion provided by investors via Realty Mogul, according to the Wichita Business Journal.

Realty Mogul allows accredited investors - usually those with $1 million or more in net worth or $200,000 in income - to invest in real estate deals through loans or equity. In some cases, the minimum investment is much lower than in traditional real estate investment deals. On the site, the minimum investment is sometimes as low as $5,000.

Read more from the Wichita Business Journal.