DiversyFund, a crowdfunding platform that specializes in real estate investing, is launching a new fund that will target multifamily and commercial real estate.

According to the company, investors in the Commercial and Multifamily Real Estate Growth Fund will own shares in a variety of real estate investments, with 80% of the fund dedicated to commercial and multifamily properties.

The company is planning to raise $50 million for the fund with a minimum investment of $5,000, and claims that the fund’s projected returns are between 15% and 20% per year.

“We believe the way we invest in real estate has to change. Up until now, it has been next to impossible for the average investor to get involved in commercial and multifamily real estate projects,” DiversyFund CEO Craig Cecilio said. “But through our platform, investors now have access to top-line real estate asset classes previously limited to a select few.”

According to the company, the fund is intended for investors who want to build wealth through real estate over a period of at least five years. The company said that during the first few years of the fund, it plans to invest in various projects.

Then, after five years, it will begin to sell those assets and make final distributions to investors.

As for why it’s planning to invest in multifamily housing, DiversyFund says that multifamily has “traditionally outperformed” single-family housing in both weak and strong markets.

The company said that the fund will invest in existing multifamily properties that can increase in value as improvements are made and rents are increased.

The company said that it will focus on California market as part of the fund’s plan.

According to the company, it has already identified several initial investments for the fund, including a 58-unit multifamily housing project with 5,000 square feet of commercial space in San Diego’s Hillcrest neighborhood and a 3-unit student rental property located near the University of San Diego.

“We continue to search for the best and most unique multifamily and commercial real estate opportunities for our investors using our combined expertise,” Cecilio said. “California is among the best areas in the world for real estate appreciation. We know the California marketplace. Now, through our platform, anyone around the world can invest in real estate in this area.”