Young Black Hotel Owner Launches Real Estate Investing Platform to Help Aspiring Owners
As a little Black girl growing up in the South, Davonne Reaves never imagined one day that she’d own a hotel. Let alone that she’d eventually become co-owner of multiple hotels before the age of 40.Once that dream became a reality, first in 2020, when Reaves and her former college roommate became the youngest African American women to ever co-own a property in a major hotel chain and then later when she acquired two more hotels as part of the Indiana-based Nassau Investment Group, the longtime hospitality-industry-worker-turned-real-estate-investor found herself yearning to help others get into the commercial real estate game too.
“It’s truly an amazing experience and opportunity, but for decades, it’s been out of reach and limited mostly to those who are extremely wealthy or already experienced in the field,” says Reaves, 36, an Atlanta-based award-winning hotel consultant and asset manager who now boasts an investment portfolio that includes co-ownership of hotels and residential real estate properties totalling $30 million. ”I knew in my heart that I had to do my part to help connect others to these types of lucrative investment opportunities. Tapping into this industry has changed my financial future and transformed my life!”
How to accomplish that goal eluded her, until finally a big “ah-ha moment” came in 2021 to create a platform of her own to help others leverage their financial resources; no matter how much or little they had to invest. Federal regulations requiring investors to raise more money to support their endeavors came the same year.
The result is Vesterr, Reaves’ newly-launched crowdfunding platform that allows accredited and non-accredited investors to join in on commercial real estate securities opportunities, starting with as little as $5,000.
“Think of ‘GoFundMe,’ but for commercial real estate investing,” says Reaves. “We’re the first Black-owned, first woman-owned crowd-funding platform for commercial real estate to include hotels in the country and this is just the beginning! The Vesterr platform connects investors with owners to raise capital.”
Reaves says her mission is simple; help others grow their real estate portfolio by giving them access to the funds they need while providing investors with opportunities to invest in securities. Much like traditional crowd-funding platforms, those who sign up for Vesterr may peruse the site in search of investment deals in commercial real estate, including hotels, multi-family, retail space and more, that fit their unique investment needs. A minimum investment amount is listed up front and interested parties must meet a set deadline to contribute to the campaign. Vesterr investors also get to decide between investment projects that are more “hands on” or “hands off.”
“This platform is really about creating opportunities for all, but I also want it to provide a space for those who have not traditionally felt welcome or included in this industry, such as women, people of color, young people and so on,” explains Reaves. “You can start with the minimum investment and build up from there. Gone are the days where you had to have tens of thousands of dollars just to get into the game. This is a game-changer!”
Client Amina James agrees. She served as general partner for a recent deal, funding a Holiday Inn in Lake Charles, LA. on the Vesterr platform. “We met our fundraising goal and it was a successful raise,” gushes James, 38, of Washington DC. “I give so much credit to Vesterr. It is so easy for investors to ask questions using the Q&A feature on the site. When you put a deal on Vesterr you get great exposure and marketing support too.”
James says a broad network of accredited investors, amazing customer service, easy onboarding compared to other platforms and option to use several different investment methods – not just cash – all make Vesterr an excellent choice. The “Black girl magic part,” she says, is a bonus. “I love that Vesterr is Black woman-owned too!”
Reaves says success stories like James’ continue to inspire her: ”Whether you’re an owner or developer or an experienced investor, Vesterr can assist to make it attainable for you to get funding and add commercial real estate assets to your portfolio. You can have your part of the American dream!”
Reaves is available to share her inspirational story and details of her passionate advocacy work focused on education and economic empowerment across all media platforms. To arrange an interview, please contact June at Media@TheVonneGroup.com or call 404-946-3317.
About Vesterr
Vesterr is an innovative investment platform that provides access to commercial real estate securities including hotels, multi-family, retail for both retail investors (accredited and non accredited investors). For more information, visit Vesterr.com
