The Prosper Fund, a real estate investment fund focused on the Greater Metropolitan Cleveland area, has just announced the establishment of their new fund to leverage both their decades of experience in identifying and acquiring properties and Cleveland’s new recognition by Zillow as the #2 hottest real estate markets in America.
Cleveland, which is currently seeing massive tech and med-tech investment, is a hot spot for new investors and developers who are hoping to maximize the current buying potential.
Investors who are interested in real estate opportunities are encouraged to look to Cleveland, Ohio, both for its stable and swiftly growing young professional population, attracted by the technology and medical-technology sectors as well as uniquely affordable housing options.
Interested investors are invited by co-founders Kelly Stumphauzer and Jordan Ruben to contact them directly to learn more about Prosper’s strategy, history of successfully securing off-market deals, deep industry relationships and forward roadmap.
The Prosper Fund offers an investment opportunity for a highly curated portfolio in both single-family and multi-family properties, strategically located near what is known as the booming “health-tech corridor”.
Both Stumphauzer and Ruben will deploy their decade-long, in-depth knowledge of the local real estate market and its participants (officials, builders, suppliers, etc.) to provide investors participation in properties with the greatest upside potential.
“Now is the time,” emphasized Stumphauzer, because Cleveland is beginning to attract more attention from new investors, especially with Zillow’s new recognition.
“Outside money is just waking up to the outsized opportunity in Cleveland, although they will take years to learn this city the way we do, literally building-by-building. Our goal is to continue delivering consistent returns to our investors, targeting a double digit IRR,” shares Stumphauzer.
“As of right now, the fund’s projected acquisition schedule includes deploying $25 million of equity and $25 million of debt, with a focus on assets that can generate cash returns and provide opportunities for development turnaround or rehab. We have successfully managed a portfolio of over 1,000 properties in various stages of renovation and stabilization, with an estimated 92% occupancy rate in more than 985 units. So we are confident both in our block-by-block knowledge of this city, as well as our ability to continue to identify and acquire the best possible properties. ”
With the Prosper Fund now open to investors, Stumphauzer and Ruben can be contacted so that new investors can learn detailed insights into the Cleveland real estate market, the enormous growth potential in the health-tech corridor, and specifically, the list of benefits of investing with The Prosper Fund.
“At Prosper, we believe that success in entrepreneurship is the art of recognizing opportunities, taking calculated risks, and continually adapting to the dynamic business landscape,” says Stumphauzer. “True success,” she continued, “is not merely measured by financial gains, but by the positive impact we create in the lives of our investors, partners, and the communities we serve. The Prosper team and I are committed to continue optimizing the stability and growth of the Cleveland markets, improving properties and helping to create a city attractive to new professionals and long-time locals alike.”
To learn more about The Prosper Fund and Co-Founders Kelly Stumphauzer and Jordan Ruben, check out their website, or contact:
Kelly Stumpauzer & Jordan Ruben, The Prosper Fund
(216) 677-4245
