Groundfloor has sold a small number of Jacksonville joint venture properties at a loss but has not yet disbursed these recoveries to investors. Through the process of winding down the joint venture partnership, we are seeking to recover additional funds that we can use to mitigate or fully offset losses that would otherwise be realized on these loans. Groundfloor’s equity interest in the joint venture opens multiple avenues to recover funds beyond individual property sales, including rental income and profits from REOs. We’re using every available option at our disposal to deliver the best investment outcome. We will update investors on our progress toward resolution as updates are available.

Written by Constantina Kokenes
Updated over 2 weeks ago