As general counsel, corporate secretary and chief operating officer of D.C.-based real estate investor Fundrise, Bjorn Hall has conquered new territory by successfully using online crowdfunding to raise funds for real estate.
Hall helped write some of the rules on the process, working with Fundrise and the Securities and Exchange Commission to create a legal framework to allow this form of investing. Hundreds of companies nationwide now follow that framework. But Fundrise wasn’t done — it shifted gears and began raising its largest fund ever, a $500 million pot for communities in the federal “opportunity zones” program, or economically distressed areas where investors can put in money in return for lower or eliminated capital gains taxes.
Hall currently manages the legal interests and compliance for nine public funds totaling $426 million of equity raised by 50,000-plus investors and helping back an overall $2.2 billion worth of real estate, including apartment complexes near…Read the full story from the Washington Business Journal.