Salt Lake City-based RealSource Properties Inc. launched a REIT which will start off with ten multifamily properties already in the company’s pipeline. The ten properties include 2,897 apartment units in four states. RealSource says they expect to buy more during the life of the REIT. The company used an econometric model that evaluates 40 different market sub-categories, such as market, migration, income, growth and more, to try to maximize return for its investors.

The properties within the REIT have a value of over $390 million and RealSource CEO Nate Hanks say they want to add to that number, “It’s clear that since the pandemic, demand for apartments is rising. This multi-family REIT will open up our company’s track record in value creation to non-institutional investors looking for ways to diversify their portfolio with cash flowing real estate.”

The company promises that investors will have full transparency into the operation and performance of each asset within the REIT.