SR Realty Trust Raises $28M

The Minneapolis-based REIT is targeting accredited investors with time certificate securities in a Rule 506(c) exempt offering.

September 17, 2025

SR Realty Trust, Inc. Continues Capital Raise With $28 Million Secured in Private Placement

SR Realty Trust is in the middle of a $50 million securities offering—and it’s already more than halfway there. The firm has raised just over $28 million from 36 investors as of September 16, with $21.97 million still available. This is a Rule 506(c) offering, which means it’s only open to accredited investors and allows for general solicitation. The minimum investment to participate is $25,685.

Based in Minneapolis, the company is offering time certificates as the instrument for this raise. These are structured for yield-seeking investors who meet accreditation standards, with no broker or finder fees reported and no offering proceeds allocated to executive compensation. SR Realty Trust has kept its use of proceeds focused on business needs—not payouts.

This is a new filing, not an amendment, and the offering is expected to close within a year. No state-specific solicitation was listed, which may indicate the offering is being conducted broadly under federal guidelines.

Leadership and Organizational Details

The leadership team behind the raise includes President and COO Steven Norcutt, CEO Bradley Schafer, CFO Gregory Springer, and other senior executives, all operating out of the company’s headquarters in Minnesota. The company has been incorporated in Maryland for more than five years and operates in the REIT and finance segment of the real estate industry.

Investor-Focused Strategy

By structuring this raise under Rule 506(c), SR Realty Trust is signaling a clear focus: work directly with qualified investors, streamline compliance, and maintain flexibility in how the offering is presented to the market. With more than $28 million already committed, the offering reflects continued interest in real estate-backed investments that emphasize direct access and clear terms.