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nxtCRE Raises Series A Funding

Funding for any start-up in this environment says much about the company’s business model and its management team’s ability to execute

UNITED STATES, November 14, 2022 /EINPresswire.com/ — nxtCRE, a ‘Open-Banking’ Commercial Real Estate fintech platform, announces its Series A funding led by principals of Riverlake Partners, a private equity firm.

A Miami based firm, nxtCRE has nationwide partnerships with CRE financial institutions that provides it access to the immediate investment needs of those institutions’ borrowers. nxtCRE calls those borrowers ‘Must Buy Investors’ (MBI) because as a 1031 exchange candidate, they MUST reinvest cash from a sale of one property into another investment property, within a short and inflexible timeline. Annually, there are over 70K MBIs, investing over $150B in equity and use $25B in debt to acquire $400B in CRE. Providing property sellers/brokers and those seeking equity early access to MBI, improves liquidity, creates greater efficiencies and reduces marketing time and cost.

The founding members of nxtCRE, led by Adam Sharif and Ken Griggs, have over 150 years of experience in commercial real estate finance. According to Adam Sharif, Founder and Chief Strategist, “Funding for any start-up in this environment says much about the company’s business model and its management team’s ability to execute. Business wires are full of stories of VCs pulling away from their own portfolio of companies and not considering new investments. We’re very excited and appreciative of the confidence the principals of Silverlake have in us and look forward to fantastic partnership with them.”

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