Rhove Announces Partnership with Empire Apartments Making Renter Ownership Possible for All
Rhove, the all-new fintech app that enables anyone to invest in real estate with as little as $1 in one minute, announced today a partnership with Empire, the luxury senior living community in Illinois. Residents will now have the opportunity to invest in their apartment as well as anyone in the U.S. looking to diversify their investments.
“Our partnership with Rhove is all about providing the opportunity for more freedom,” said Todd Swift, one of the developers of the Empire property. “Not just the freedom as a renter to come and go as you please, but the financial freedom as well. Now our residents will have the opportunity to invest in the building itself as a renter, which is typically not an option, until now.”
Rhove’s mission is to expand access and opportunity for everyone to invest in and own a piece of the places they live, work, and play. In May, Rhove received qualification from the U.S. Securities and Exchange Commission (SEC) to launch its offerings that enable anyone to invest in real estate for as little as $1 per share, previously only accessible to wealthy and connected individuals and institutions. This partnership marks one of the first investment opportunities made available to the public on the Rhove platform.
“We are creating a world where every renter is an owner,” said Calvin Cooper, Rhove Co-Founder & CEO. “As we grapple with rising inflation and our growing housing crisis, we realize that it is now more important than ever to expand access and opportunity. Rhove is the first platform in the U.S. enabling anyone to invest without high minimums and other prohibitive requirements.”
Empire is a community built for active seniors transitioning. Many seniors are downsizing from a previously owned home to renting. Empire is even offering to support the transition by buying leasee’s homes upfront and selling them for no additional cost. Now, in partnership with Rhove, they are also the first to enable their residents to become investors for as little as $1 per share.
“Our generation was always taught to own our home,” said Patty Tucker, Community Manager at Empire. “It’s a huge decision for them to sell a home and to become a renter. Having the option with Rhove to invest in Empire and get access to ownership in their property, empowers seniors with that familiar feeling of ownership.”
The Empire property is a newly constructed 27-unit multifamily development that offers active seniors a better way of living: a flexible worry-free lifestyle, plus access to a wide range of first-class amenities, breakfast, and the opportunity to be part of a vibrant, active peer community.