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The Prosper Fund, a real estate investment firm specializing in the Greater Metropolitan Cleveland area, is excited to announce its latest fund meant to capitalize on the quickly growing technology and medical-technology investments in the area.
Co-founders Kelly Stumphauzer and Jordan Ruben invite interested investors to partake in Prosper’s highly-successful approach to identifying and acquiring properties in this booming market. Their strategy, experience in securing off-market deals, strong industry connections, and future plans are all available for interested investors to explore.
The appeal of Cleveland, Ohio, lies in its stable and rapidly growing young professional population, attracted by the technology and medical-technology sectors, coupled with affordable housing options.
The Prosper Fund offers a curated investment opportunity that mainly focuses on single-family and multi-family properties, strategically located near what is known as the thriving “health-tech corridor.”
“Now is the time,” emphasized Stumphauzer, because Cleveland is beginning to attract more attention from new investors, Zillow recently naming it the #2 best city to invest in real estate in the United States.
“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 directly 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
