CRA Market

The firm is managed by Chris R. Anderson, who oversees deal sourcing, underwriting, and note structuring. Anderson is the named principal on all regulatory filings and appears to be the sole investment decision-maker. The firm has not publicly disclosed a separate investment committee or additional portfolio managers. This concentrated decision structure means every note on the platform reflects a single underwriting philosophy.

CRA Market sources loans through direct relationships with independent real estate operators, primarily house flippers and small-scale commercial renovators in the Midwest and Southeast. The firm evaluates the borrower's track record, the property's after-repair value, and the proposed loan-to-value ratio before structuring a promissory note. These notes are then offered to accredited investors on the firm's online platform, not through intermediaries or broker-dealers.

No. CRA Market does not operate as a REIT, a pooled real estate fund, or a discretionary investment vehicle. The firm issues individual promissory notes for specific property projects, and investors select which notes to invest in on a deal-by-deal basis. Each note is a direct obligation of the underlying operating company, secured by a specific piece of real property — typically in a first-lien position.

Notes listed on the platform generally carry terms of six to eighteen months, matching the project timeline of a fix-and-flip or bridge renovation. Interest rates are fixed per note and disclosed before investment, though the firm does not publicly advertise a uniform target return. Because each note is tied to a different property and borrower, duration and yield vary by deal. Investors must review each term sheet individually before committing capital.

No. The notes are offered under Regulation D, Rule 506(c), which permits general solicitation but restricts participation to verified accredited investors. The notes themselves are not publicly traded and do not go through an SEC registration process. Investors receive a private placement memorandum and note documents specific to each offering, and CRA Market updated its disclosures in September 2024 to stay aligned with current SEC requirements for this structure.

Because CRA Market structures its notes with first-lien security on real property, the primary remedy in a default scenario is foreclosure on the underlying asset. The firm has stated that it maintains conservative loan-to-value thresholds — typically under 70% — to create an equity cushion that protects investor principal even in a distressed sale. CRA Market does not guarantee investor returns or principal, and the firm's public materials emphasize that each note carries its own set of risks tied to the specific property and sponsor.

No. The platform is built exclusively for accredited individual investors and does not serve institutional allocators such as pension funds, endowments, or family offices. Investment minimums have historically been structured at accessible levels — starting around $25,000 — rather than the institution-scale commitments typical of private credit funds. The firm's marketing and regulatory posture are both oriented toward direct-to-investor participation, not fund-of-one or separately managed account relationships.