Formerly Rich Uncles, Modiv Looks to Redefine Real Estate Investing for Individual Investors
Rich Uncles, is seeking to open up real estate investing for smaller investors with unlisted REITS. Recently, the company announced the filing of a registration statement for
Modiv Acquisition Corp. or “MAC SPAC” – looking to gain entry into the hot blank check sector. In a release posted last month, MAC SPAC, formed by Modiv Venture Fund, LLC, a subsidiary of Modiv Inc., indicated its intent to IPO 10 million units on the NYSE. The S-1 Filing states:
“We believe we will be able to leverage the strength of Modiv’s management team and industry contacts, as well as Modiv’s proven track record as both an organic growth-oriented operator and value-builder through strategic investments and acquisitions, to not only source attractive acquisition candidates within the Fintech, Proptech, and real estate investment management sectors, but also potentially support the acquired company’s future growth prospects. We believe Modiv can leverage its existing position as an established crowdfunded REIT, along with its management team’s experience, expertise, and operational skills, making us an attractive business partner to other potential target businesses.”