Crowdfunded firm to buy Hawthorn Crossings
Chicago Trend signed a contract to buy Hawthorn Crossings at 1000 W. Broadway Ave. in north Minneapolis and will offer up to 49% of the equity to crowdfunded community investors.[1]
The deal would acquire the roughly 51,000-square-foot shopping center from Sherman Associates.[1] Investors can join with a minimum $1,000 investment, and Trend estimates about a 10-year hold before any sale.[1] Hennepin County values the property at $5.74 million, and Trend plans roughly $500,000 in physical upgrades and programming while it operates the center.[1]
Trend's fund includes capital from the Minneapolis-based McKnight Foundation and aligns with the GroundBreak Coalition's goal of backing more than 60 commercial projects led by people of color.[1] Chicago Trend pointed to nearby projects and planned light rail on West Broadway as signs the corridor is "on the cusp of change," and the company framed community ownership as a way to address gentrification concerns.[1]
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📌 Key Facts
- Chicago Trend has a signed purchase contract to acquire Hawthorn Crossings, a ~51,000‑square‑foot shopping center at 1000 W. Broadway Ave. in north Minneapolis, from Sherman Associates.
- Up to 49% of the property’s equity is being opened to community investors via crowdfunding, with a minimum investment of $1,000 and an estimated 10‑year hold before sale.
- Hennepin County values the property at $5.74 million, and Trend plans to invest about $500,000 in physical upgrades and programming while operating the center.
- Trend’s fund includes capital from the Minneapolis-based McKnight Foundation and aligns with the GroundBreak Coalition’s goal of backing more than 60 commercial projects led by people of color.
- Chicago Trend cites nearby projects and forthcoming light rail on West Broadway as signs the corridor is “on the cusp of change,” and explicitly frames community ownership as a response to gentrification concerns.
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