The platform's goal is to give participants a passive, sole-ownership vehicle -- managed from initial deal sourcing through ultimate disposition -- through which to invest in commercial real estate. And while it is open to more than just high-net-worth participants-- entities and corporations are also viable members – it is the latest illustration of the growing role single investors are playing in real estate finance.

Not that high-net worth individuals have been strangers to the real estate finance markets. They are strong players in most private equity funds, for instance. And the 1031 tenant-in-common (TIC) exchanges, as another example, were developed precisely to give small sized investors a venue in which to rollover assets in a tax efficient manner.

Now, though, as the capital markets remain in seizure, savvy investors are swooping in on what they see as good opportunities, says Adam Petriella, senior director of Finance & Investments in Marcus & Millichap's Los Angeles office. "A whole cottage industry has sprung up where people are raising money for private investors to invest anywhere from $10,000 to $100,000. They are promised anywhere from 9% to 12% in returns." These pools of capital then turn around and make bridge loans to struggling developers or projects that are otherwise good bets – but just have been cut off from their usual source of funds, he explains.

Petriella says this trend began in earnest in Q4 2007 as more traditional lenders began to exit the markets. Individuals began replacing – but not entirely – the more traditional sources in all manner of ways, from the formal platforms such as those introduced by Grubb & Ellis, to approaching brokers like Petriella to find out whether good deals were available. "I've had several clients ask me if I knew of deals that required short term, last-minute money," he says.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.