Aaron Halfacre, CEO of Modiv Inc. (NYSE: MDV), participated in a video interview at Nareit’s REITworld: 2022 Annual Conference held in San Francisco on Nov. 15-17.
Halfacre discussed Modiv’s unique beginnings as the only crowdfunded, non-traded REIT to become a public REIT.
“I’d say what’s more unique about it is…we chose this path as the best path forward for our investors to provide liquidity, transparency, and really the best corporate governance structure you can have,” he said.
Halfacre said that when Modiv went public earlier this year, the company didn’t raise capital but it did list and provide full liquidity to its investors.
“Since then, we’ve been in a volatile rate environment, which has made it challenging to find the right investments that are accretive for our investors—but we’ve been successful in doing so,” he said. “The challenge continues: It is to be good corporate stewards of the money that our investors have entrusted with us.”
Halfacre also discussed one of Modiv’s core values of offering commercial real estate as an investment option for everyone.
“We care about the individual American who wants to get ahead, and maybe doesn’t want to speculate, and maybe doesn’t want to own a property themselves,” he said. “But they love real estate, and they want to find a way to do that that fits with their financial life. We believe that Modiv offers that.”