EPIC Companies Eyes Upper Midwest with Vision REIT
EPIC Companies, a real estate investing and development firm, announced the launch of Vision REIT, a real estate investment trust aimed to invest in real estate projects throughout the upper Midwest, with a concentration on North Dakota and Minnesota.
The units will be offered for $10 each, with a minimum investment of $50,000. The initial $20 million raised will let investors invest for a $9 unit price, with a minimum investment of $250,000, according to the firm.
“EPIC Companies wants to bring greater investment, resources and opportunities to North Dakota, specifically and the Midwest, generally—Vision REIT is a mechanism for doing that,” said Todd Berning, president of EPIC Companies.
Vision REIT seeks to provide investors with an opportunity to invest in EPIC projects while reaping the tax benefits of a REIT. EPIC’s Vision REIT will develop and own mixed-use and hospitality developments in “high-demand areas supported by market research,” according to the West Fargo, North Dakota-based firm.
EPIC Companies said Vision REIT will continue to invest in the region to “enhance the quality of life furthering the mission of innovative development” in the communities.
