PeerStreet, an investing platform for real-estate backed loans based in Los Angeles, has launched an investment product to provide increased liquidity for accredited investors at 30-day terms, PeerStreet announced Wednesday.
The 30-Day Notes product, which was started in October on a pilot basis, is now being offered monthly. The product provides investors more liquidity by allowing them to invest in notes with 30-day terms, rather than the traditional 12-month notes.
The loans are vetted for quality by PeerStreet and a team of real estate professionals before they are offered to investors. The average amount invested in the notes more than doubled during the pilot offering, PeerStreet said. For the first three months, 579 investors invested a total of $7.9 million.