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August 6, 2015

Crowdfunding helps finance housing deal

By JOURNAL STAFF

OAK HARBOR — An online real estate crowdfunding site called RealtyMogul said it provided financing for the purchase and renovation of Anchor Pointe Apartments in Oak Harbor.

New Standard Equities of Encino, California, bought the 107-unit property. Anchor Pointe is about 1.5 miles from Naval Air Station Whidbey Island. There is a shortage of housing on the base, so off-base housing nearby is in great demand.

New Standard said it has experience working on military housing.

RealtyMogul is an online marketplace that connects borrowers with capital from accredited and institutional investors.




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