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Office
NV Energy NNN
Las Vegas, NV
Completed Equity
100% funded
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NV Energy NNN
Las Vegas, NV
All Investments > NV Energy NNN
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Overview
NV Energy NNN
Acquisition of an investment-grade, single-tenant, NNN office building in Las Vegas, NV alongside a highly experienced, local real estate company.
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Details
For more information, view the Sponsor's Investment Memorandum.
Estimated First Distribution 9/2019
Minimum Investment 20000
Estimated Hold Period 7 years
Investment Strategy Value-Add
Investment Type Equity
Year Built 1983 (Renovated 2017)
Total SF 292,180
Current Occupancy 100.0%
Parking Ratio 3.5 spaces per 1,000 square feet
Number of Tenants 1
Sponsor Documents
The offering documents above have been prepared and are being delivered by the Sponsor of this investment opportunity, and not by RM Securities, LLC. RM Securities, LLC and its associated persons did not assist in preparing, do not explicitly or implicitly adopt or endorse, and are not otherwise responsible for, the Sponsors offering documents posted below or any content therein.
Deal Highlights
Investment Highlights
The Real Estate Company is under contract to purchase the Property for $34.0 million or $116 per square foot, which represents a going-in cap rate of 9.09% on expected year one and T-12 net operating income
The business plan is to hold the Property for cash flow
The Real Estate Company intends to hire SKR Real Estate Services as Property Manager, which manages nearly two million square feet in Las Vegas
The exit strategy is to sell the Property in seven years at an expected cap rate of 8.00%
The Real Estate Company is under contract to purchase the Property for $34.0 million or $116 per square foot, which represents a going-in cap rate of 9.09% on expected year one and T-12 net operating income
The business plan is to hold the Property for cash flow
The Real Estate Company intends to hire SKR Real Estate Services as Property Manager, which manages nearly two million square feet in Las Vegas
The exit strategy is to sell the Property in seven years at an expected cap rate of 8.00%
Contact Us
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Management
For more information, view the Sponsor's Investment Memorandum.
Moonwater Capital

Founded in 1997, Moonwater Capital (the "Real Estate Company") is a Las Vegas-based real estate investment firm. In the past 10 years, Moonwater has exclusively focused on the acquisition of office, retail, and multifamily assets in the Las Vegas MSA. In this period, the company has purchased a number of large office assets, in addition to multifamily and mixed-use assets. During the Great Recession, Moonwater Capital did not experience a single foreclosure or loss of principal. The company was founded by Ofir Hagay, who serves as President and CEO. Mr. Hagay has over 25 years of real estate experience in development, executive management, and business consulting. This would be the first transaction between Moonwater and RealtyMogul.

Sponsor Track Record
Property Location Asset Type Date Acquired Total SF Purchase Price Total Capitalization Date Sold Sale Price
Avalon at Seven Hills Henderson, NV Multifamily 2005 295,752 $48,500,000 $48,500,000 2008 $52,240,000
Park1 Las Vegas, NV Multifamily 2004 263,874 $42,000,000 $55,000,000 2008 $89,760,000
Red Rock Business Center Las Vegas, NV Office 2012 74,000 $3,200,000 $10,125,508 2015 $12,200,000
Rainbow Sunset Pavilion Las Vegas, NV Office 2011 108,000 $17,800,000 $20,269,911 2018 $33,000,000
Gramercy     Las Vegas, NV Mixed Use 2013 420,053 $22,000,000 $61,000,000 2018 $107,500,000
The Lennox     Las Vegas, NV Multifamily 2012 174,728 $12,690,417 $14,690,417 2019 $20,600,000
Spanish Ridge Las Vegas, NV Office 2017 113,000 $24,800,000 $29,100,046    
Montecito Tower Las Vegas, NV Office 2018 177,007 $33,250,000 $39,379,556    
TSSP Las Vegas, NV Office 2018 445,000 $86,910,000 $119,052,377    
Total       2,071,414 $291,150,417 $397,117,815    

The bio and track record were provided by the Real Estate Company and have not been verified by RealtyMogul or NCPS

Website
Management Team
Management
Ofir Hagay
Founder / President & CEO

Mr. Hagay has over 25 years of experience in real estate development, international business, executive management, and business consulting. Mr. Hagay’s other business endeavors include partnering and consulting in many different industries with well-known companies and partners/clients that include John Deere, USAID, Seaboard Corporation, Volvo Trucks and Bosch. His years of international business experience include the ownership and management of office buildings in Bulgaria where he successfully leased the buildings to Price Waterhouse Coopers and to the Embassy of the European Union to Bulgaria for ten years. Mr. Hagay has won the Israeli Trade Award for significant contribution to the Israeli Economy.

Management
Bobby Stoyanov
COO

Mr. Stoyanov has been involved in real estate investment, project management and development in the United States and overseas for more than 20 years. He is a licensed commercial real estate agent in New York and Nevada. In 2008 he set up Low Heights Ventures (LHV), which manages 200,000 square feet of commercial real estate in Bulgaria, and does investment sourcing and due diligence for foreign institutional investors in Bulgaria. Between 2005 and 2008, Mr. Stoyanov was Executive Director of Prime Property BG REIT, the first Bulgarian REIT and one of the largest by market capital. He was responsible for some of the fund’s most profitable projects and was instrumental in attracting foreign institutional investors. Prior to Prime Property BG, Mr. Stoyanov was Manager of the Space Management Office of Cornell University Medical College in New York City, managing more than 2 million square feet of prime real estate. Mr. Stoyanov holds an MBA in Finance and Accounting from New York University Stern School of Business.

Property
For more information, view the Sponsor's Investment Memorandum.

Property Summary

6226 West Sahara Avenue is a 292,180 square foot low-rise office building in the West Las Vegas submarket of the Las Vegas MSA. It is 100% leased to Nevada Power at NNN rents 39% below market (according to CoStar); this lease is set to expire in January 2029. While Nevada Power Company is the entity on the lease, its parent company, NV Energy, uses the entire building as its headquarters. It was built in 1983, with Nevada Power moving in the following year. The Property includes two on-site high-capacity generators, "Strip" views from the 2nd and 3rd floor balconies, 13 electric vehicle charging stations, a data center with raised flooring, a fitness center, and a full industrial kitchen. According to the Real Estate Company, the first floor was recently renovated and a new roof was installed.  The tenant also installed a sun shade in the atrium in 2013 and made a significant sewer pipe repair in the line leading from the building to the street last fall.  The tenant has been an excellent steward of the building and the Property Condition Assessment notes only $1K in required maintenance over the next two years. The Property includes 1,032 parking spaces (total parking ratio of 3.53/1,000 square feet). It is centrally located, with convenient access to the I-15 and US-95 Interstates, the Las Vegas "Strip," and McCarran International Airport. Within one mile of the Property is the College of Southern Nevada, two parks, and several retail and dining options.

Tenant Summary

NV Energy, Inc. ("NV Energy") is the parent company of Nevada Power Company, together with its subsidiaries ("Nevada Power"). NV Energy is a holding company that also owns Sierra Pacific Power Company ("Sierra Pacific") and certain other subsidiaries. It is a United States regulated electric utility company serving retail customers, including residential, commercial, and industrial customers, primarily in the Las Vegas, North Las Vegas, Henderson, and adjoining areas. In total the company provides electricity to 2.4 million customers. NV energy is an indirect and wholly owned subsidiary of Berkshire Hathaway Energy Company ("BHE"). BHE is a holding company based in Des Moines, Iowa that owns subsidiaries primarily engaged in the energy business. BHE is a consolidated subsidiary of Berkshire Hathaway, Inc. ("Berkshire Hathaway").

Lease Summary

Tenant Square Feet % of Property Rent per square foot Lease Expiration Lease Type
Nevada Power 292,180 100.0% $10.57* Jan '29 NNN
Grand Total 292,180 100.0% $10.57    

*Rent drops to $9.97 per square foot on February 1, 2024

Comparables
For more information, view the Sponsor's Investment Memorandum.
Lease Comparables
  4265 W Sunset Rd. 1551 Hillshire 7180 Pollock Dr. Averages Subject
Building SF 85,943 70,542 46,057 67,514 292,180
Year Built 2000 1993 1997 1997 1983
Rental Rate (NNN) $14.28 $16.20 $21.60 $17.36 $10.57
Leased SF 85,943 70,542 46,057 67,514 292,180
Tenant Las Vegas Color Graphics Shift 4 SolarCity   Nevada Power Company
Date Signed Feb '20 Jan '17 May '17   Feb '10
Lease Term (years) 12.0 3.8 3.6 6.5 19.0
Parking Ratio (per 1,000 sf) 1.1 4.2 7.0 3.8 3.5
Distance from Property (mi.) 5.3 5.2 7.4 6.0  
Sales Comparables
  500 N Rainbow Charleston Tower 1551 Hillshire Bonneville Square Averages Subject
Date Sold May '20 Jul '18 Jan '19 Jan '20   Jun '20
Building SF 81,959 88,726 70,542 97,611 84,710 292,180
Occupancy at Purchase 92% 88% 100% 81% 90% 100%
Year Built 1997 1973 1993 1983 1987 1983
Purchase Price $15,000,000 $17,000,000 $18,300,000 $14,900,000 $16,300,000 $34,000,000
$/SF $183 $192 $259 $153 $197 $116
Cap Rate N/A 7.62% 6.34% 7.50% 7.15% 9.09%
Parking Ratio (per 1,000 sf) 5.0 3.3 4.2 2.9 3.9 3.5
Distance from Property (mi.) 2.3 3.8 5.2 4.9 4.1  

Lease and sale comparables were obtained from CoStar

Financials
For more information, view the Sponsor's Investment Memorandum.
Sources & Uses

Total Capitalization

Sources of Funds $ Amount  Per Square Foot
Debt $24,300,000 $83
Equity $11,291,500 $39
Total Sources of Funds $35,591,500 $122
Purchase Price $34,000,000 $116
Loan Fee $121,500 $0
Real Estate Company Acquisition Fee $340,000 $1
Broker Dealer Fee $80,000 $0
Broker Fee $340,000 $1
MogulREIT I Origination Fee $340,000 $1
Closing Costs $320,000 $1
Working Capital $50,000 $0
Total Uses of Funds $35,591,500 $122

Please note that the Real Estate Company's equity contribution may consist of friends and family equity and equity from funds controlled by the Real Estate Company

Debt Assumptions

The expected terms of the debt financing are as follows:

  • Estimated Loan Proceeds: $24,300,000
  • Interest Rate: 4.00%
  • Amortization: 25 years
  • Interest Only Period: None
  • Loan Term: Seven years
  • Extension Options: None
  • Prepayment Penalty: 2.0% months 1-12, 1.5% months 13-18, 1.0% months 19-24 
  • Cash Flow Sweep: Year seven

There can be no assurance that a lender will provide debt on the rates and terms noted above, or at all. All rates and terms of the debt financing are subject to lender approval, including but not limited to possible increases in capital reserve requirements for funds to be held in a lender controlled capital reserve account.

Distributions

The Real Estate Company intends to make distributions of all available cash and capital proceeds to investors (The Company and Real Estate Company, collectively, the "Members") as follows:

  1. To the Members, pari passu, all excess operating cash flows to an 8.0% IRR to the Members;
  2. 80% / 20% (80% to the Members / 20% to the Real Estate Company) of all excess operating cash flows to a 10% IRR;
  3. 70% / 30% (70% to the Members / 30% to the Real Estate Company) of all excess operating cash flows to an 13% IRR;
  4. 60% / 40% (60% to the Members / 40% to the Real Estate Company) of all excess operating cash flows to a 16% IRR;
  5. 50% / 50% (50% to the Members / 50% to the Real Estate Company) of excess cash flow and appreciation thereafter.

Note that these distributions will occur after the payment of The Company's liabilities (loan payments, operating expenses and other fees as set forth in the operating agreement, in addition to any member loans or returns due on member loans).

The Company will distribute 100% of its share of excess cash flow (after expenses and fees) to the members of The Company (including the RealtyMogul investors).

Distributions are expected to start in October 2020 and are expected to continue on a semi-annual basis thereafter. These distributions are at the discretion of the Real Estate Company, who may decide to delay distributions for any reason, including maintenance or capital reserves.

Cash Flow Summary
  Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7
Effective Gross Revenue $1,801,917 $3,089,000 $3,089,000 $3,016,404 $2,914,000 $2,914,000 $2,914,000
Total Operating Expenses $0 $0 $0 $0 $0 $0 $0
Net Operating Income $1,801,917 $3,089,000 $3,089,000 $3,016,404 $2,914,000 $2,914,000 $2,914,000
RealtyMogul 150, LLC Cash Flows
  Year 0 2020 2021 2022 2023 2024 2025 2026 2027
Distributions to RealtyMogul 150, LLC Investors ($2,020,000) $11,812 $213,411 $213,411 $213,411 $185,621 $183,034 $89,467 $2,695,408
Net Earnings to Investor - Hypothetical $50,000 Investment ($50,000) $292 $5,282 $5,282 $5,282 $4,595 $4,531 $2,215 $65,827
Fees

Certain fees and compensation will be paid over the life of the transaction. The following fees and compensation will be paid:

One-Time Fees
Type of Fee Amount of Fee Received By Paid From Notes
Acquisition Fee $340,000 Real Estate Company Capitalized Equity Contribution 1.0% of Purchase Price
Broker-Dealer Fee $80,000 North Capital (1) Capitalized Equity Contribution 4.0% of amount invested in RealtyMogul 150, LLC.
Origination Fee $340,000 RM Adviser, LLC Capitalized Equity Contribution 1.0% of Purchase Price
Broker Fee $340,000 Dekel Capital, Inc. Capitalized Equity Contribution 1.0% of Purchase Price
Disposition Fee 1.0% of gross sale price RM Adviser, LLC Distributable Cash  
Recurring Fees
Type of Fee Amount of Fee Received By Paid From Notes
Asset Management Fee 1.5% of Effective Gross Income Real Estate Company Distributable Cash

Paid semi-annually from rental payments

Management and Administrative Fee 1.0% of amount invested in RealtyMogul 150, LLC RM Manager, LLC Distributable Cash RM Manager, LLC is the Manager of The Company and a wholly-owned subsidiary of Realty Mogul, Co. (2)
Property Management Fee 0.5% of Effective Gross Income SKR Real Estate Services Distributable Cash Paid semi-annually from rental payments

(1) North Capital Private Securities Corporation (“NCPS”), a registered broker-dealer who will act as placement agent for interests in the Company will be paid a fee as outlined above. NCPS will pay a referral fee to Mogul Securities, LLC (“MS”), an affiliate of the Manager and RealtyMogul, Co., for referring the transaction pursuant to a referral agreement between NCPS and MS. Certain employees of Realty Mogul, Co., an affiliate of Manager are registered representatives of, and are paid commissions by, NCPS.

(2) Fees may be deferred to reduce impact to investor distributions.

The above presentation is based upon information supplied by the Real Estate Company or others. Realty Mogul, Co., RM Manager, LLC, and The Company, along with their respective affiliates, officers, directors or representatives (the "RM Parties") hereby advise you that none of them has independently confirmed or verified any of the information contained herein. The RM Parties further make no representations as to the accuracy or completeness of any such information and undertake no obligation now or in the future to update or correct this presentation or any information contained herein.

Sources & Uses

Total Capitalization

Sources of Funds $ Amount  Per Square Foot
Debt $24,300,000 $83
Equity $11,291,500 $39
Total Sources of Funds $35,591,500 $122
Purchase Price $34,000,000 $116
Loan Fee $121,500 $0
Real Estate Company Acquisition Fee $340,000 $1
Broker Dealer Fee $80,000 $0
Broker Fee $340,000 $1
MogulREIT I Origination Fee $340,000 $1
Closing Costs $320,000 $1
Working Capital $50,000 $0
Total Uses of Funds $35,591,500 $122

Please note that the Real Estate Company's equity contribution may consist of friends and family equity and equity from funds controlled by the Real Estate Company

Debt Assumptions

The expected terms of the debt financing are as follows:

  • Estimated Loan Proceeds: $24,300,000
  • Interest Rate: 4.00%
  • Amortization: 25 years
  • Interest Only Period: None
  • Loan Term: Seven years
  • Extension Options: None
  • Prepayment Penalty: 2.0% months 1-12, 1.5% months 13-18, 1.0% months 19-24 
  • Cash Flow Sweep: Year seven

There can be no assurance that a lender will provide debt on the rates and terms noted above, or at all. All rates and terms of the debt financing are subject to lender approval, including but not limited to possible increases in capital reserve requirements for funds to be held in a lender controlled capital reserve account.

Distributions

The Real Estate Company intends to make distributions of all available cash and capital proceeds to investors (The Company and Real Estate Company, collectively, the "Members") as follows:

  1. To the Members, pari passu, all excess operating cash flows to an 8.0% IRR to the Members;
  2. 80% / 20% (80% to the Members / 20% to the Real Estate Company) of all excess operating cash flows to a 10% IRR;
  3. 70% / 30% (70% to the Members / 30% to the Real Estate Company) of all excess operating cash flows to an 13% IRR;
  4. 60% / 40% (60% to the Members / 40% to the Real Estate Company) of all excess operating cash flows to a 16% IRR;
  5. 50% / 50% (50% to the Members / 50% to the Real Estate Company) of excess cash flow and appreciation thereafter.

Note that these distributions will occur after the payment of The Company's liabilities (loan payments, operating expenses and other fees as set forth in the operating agreement, in addition to any member loans or returns due on member loans).

The Company will distribute 100% of its share of excess cash flow (after expenses and fees) to the members of The Company (including the RealtyMogul investors).

Distributions are expected to start in October 2020 and are expected to continue on a semi-annual basis thereafter. These distributions are at the discretion of the Real Estate Company, who may decide to delay distributions for any reason, including maintenance or capital reserves.

Cash Flow Summary
  Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7
Effective Gross Revenue $1,801,917 $3,089,000 $3,089,000 $3,016,404 $2,914,000 $2,914,000 $2,914,000
Total Operating Expenses $0 $0 $0 $0 $0 $0 $0
Net Operating Income $1,801,917 $3,089,000 $3,089,000 $3,016,404 $2,914,000 $2,914,000 $2,914,000
RealtyMogul 150, LLC Cash Flows
  Year 0 2020 2021 2022 2023 2024 2025 2026 2027
Distributions to RealtyMogul 150, LLC Investors ($2,020,000) $11,812 $213,411 $213,411 $213,411 $185,621 $183,034 $89,467 $2,695,408
Net Earnings to Investor - Hypothetical $50,000 Investment ($50,000) $292 $5,282 $5,282 $5,282 $4,595 $4,531 $2,215 $65,827
Fees

Certain fees and compensation will be paid over the life of the transaction. The following fees and compensation will be paid:

One-Time Fees
Type of Fee Amount of Fee Received By Paid From Notes
Acquisition Fee $340,000 Real Estate Company Capitalized Equity Contribution 1.0% of Purchase Price
Broker-Dealer Fee $80,000 North Capital (1) Capitalized Equity Contribution 4.0% of amount invested in RealtyMogul 150, LLC.
Origination Fee $340,000 RM Adviser, LLC Capitalized Equity Contribution 1.0% of Purchase Price
Broker Fee $340,000 Dekel Capital, Inc. Capitalized Equity Contribution 1.0% of Purchase Price
Disposition Fee 1.0% of gross sale price RM Adviser, LLC Distributable Cash  
Recurring Fees
Type of Fee Amount of Fee Received By Paid From Notes
Asset Management Fee 1.5% of Effective Gross Income Real Estate Company Distributable Cash

Paid semi-annually from rental payments

Management and Administrative Fee 1.0% of amount invested in RealtyMogul 150, LLC RM Manager, LLC Distributable Cash RM Manager, LLC is the Manager of The Company and a wholly-owned subsidiary of Realty Mogul, Co. (2)
Property Management Fee 0.5% of Effective Gross Income SKR Real Estate Services Distributable Cash Paid semi-annually from rental payments

(1) North Capital Private Securities Corporation (“NCPS”), a registered broker-dealer who will act as placement agent for interests in the Company will be paid a fee as outlined above. NCPS will pay a referral fee to Mogul Securities, LLC (“MS”), an affiliate of the Manager and RealtyMogul, Co., for referring the transaction pursuant to a referral agreement between NCPS and MS. Certain employees of Realty Mogul, Co., an affiliate of Manager are registered representatives of, and are paid commissions by, NCPS.

(2) Fees may be deferred to reduce impact to investor distributions.

The above presentation is based upon information supplied by the Real Estate Company or others. Realty Mogul, Co., RM Manager, LLC, and The Company, along with their respective affiliates, officers, directors or representatives (the "RM Parties") hereby advise you that none of them has independently confirmed or verified any of the information contained herein. The RM Parties further make no representations as to the accuracy or completeness of any such information and undertake no obligation now or in the future to update or correct this presentation or any information contained herein.

Disclosures
RM Securities, LLC and its Affiliates Compensation

RM Securities, LLC, its registered representatives, affiliates, associated persons, and personnel of its affiliates who may also be associated with it, including our associated persons and personnel of our affiliates who are also be associated with RM Securities, LLC (it (“RM Securities,” “we,” “our,” or “us”) will receive fees, expense reimbursements, and other compensation (“Fees”) from the issuer of this investment offering, its sponsor, or an affiliate thereof (“Sponsor”), or otherwise in connection with Sponsor’s offering. The Fees paid to us are in addition to other fees you will pay to Sponsor or in connection with Sponsor’s investment offering. You will pay Fees to Sponsor, either directly or indirectly as an investor in the Sponsor’s offering. Sponsor will use the Fees you pay, as well as funds you invest in the relevant offering, to compensate us. The Fees paid to us will directly or indirectly be borne by you as the investor (typically, but not always, in the form of an expense of the Sponsor’s offering in which you invest) because such Fees will reduce the proceeds available for distribution to you and reduce the amount you earn over time.

For more information on the Fees paid to us, or any other Fees you will pay in connection with Sponsor’s offering, please carefully review the Sponsor’s Investment Documents. Please also carefully review RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

No Approval, Opinion or Representation, or Warranty by RM Securities, LLC

Sponsor has provided, approved, and is solely responsible in all aspects for the information on this webpage (“Page”), including Sponsor’s offering documentation, which may include without limitation the Private Placement Memorandum, Operating or Limited Partnership Agreement, Subscription Agreement, the Project Summary and all exhibits and other documents attached thereto or referenced therein (collectively, the “Investment Documents”). The Investment Documents linked on this page have been prepared and posted by Sponsor, and not by RM Securities. We did not assist in preparing, do not adopt or endorse, and we are not otherwise responsible for, the Sponsor’s Investment Documents. We make no representations or warranties as to the accuracy of information on this Page or in the Sponsor’s Investment Documents and we accept no liability therefor. No part of the information on this Page or in the Sponsor’s Investment Documents is intended to be binding on us.

Sponsor’s Information Qualified by Investment Documents

The information on this Page is qualified in its entirety by reference to the more complete information about the offering contained in the Sponsor’s Investment Documents. The information on this Page is not complete and subject to change at the Sponsor’s discretion at any time up to the closing date. The Sponsor’s Investment Documents and supplements thereto contain important information about the Sponsor’s offering including relevant investment objectives, the business plan, risks, charges, expenses, and other information, which you should consider carefully before investing. The information on this Page should not be used as a basis for an investor’s decision to invest.

Risk of Investment

This investment is speculative, highly illiquid, and involves substantial risk. There can be no assurances that all or any of Sponsor’s assumptions, expectations, estimates, goals, hypothetical illustrations, or other aspects of Sponsor’s business plans (“Assumptions”) will be true or that actual performance will bear any relation to Sponsor’s Assumptions, and no guarantee or representation is made that Sponsor’s Assumptions will be achieved. If Sponsor does not achieve its Assumptions, your investment could be materially and adversely affected. A loss of part or all of the principal value of your investment may occur. You should not invest unless you can readily bear the consequences of such loss. Sponsor’s Assumptions should not be relied upon as the primary basis for your decision to invest.

No Reliance on Forward-Looking Statements; Sponsor Assumptions

Sponsor is solely responsible for statements made concerning forward-looking statements and Assumptions, which apply only as of the date made, are preliminary and subject to change, and are expressly qualified in their entirety by the disclosures and cautionary statements included in Sponsor’s Investment Documents, which you should carefully review. Neither RM Securities nor Sponsor are obligated to update or revise such forward-looking statements or Assumptions to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Sponsor’s forward-looking statements and Assumptions are hypothetical, not based on actual investment achievements or events, and are presented solely for purposes of providing insight into the Sponsor’s investment objectives, detailing Sponsor’s anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of actual results; therefore, they are not a predictor, projection, or guarantee of future results. You should not rely on Sponsor’s forward-looking statements as a basis to invest.

Importantly, we do not adopt, endorse, or provide any assurance of returns or as to the accuracy or reasonableness of Sponsor’s Assumptions or forward-looking statements.

No Reliance on Past Performance

Any description of past performance is not a reliable indicator of future performance and should not be relied upon as the primary basis to invest.

Sponsor’s Use of Debt

A substantial portion of the total cost of the real estate asset acquired by the Sponsor with investor funds (“Property”) will be paid with borrowed funds, i.e., debt. Sponsor’s estimated rates and terms of the debt financing are subject to lender approval, and there is no assurance that the Sponsor will secure debt at the rates and terms presented on this Page or in the Sponsor’s Investment Documents, or at all. The use of borrowed money to acquire real estate is referred to as leveraging, which can amplify losses and could result in lender foreclosure. In addition, if the debt includes a variable (or “floating”) interest rate, the total amount of interest paid over the term of the debt will fluctuate and can increase. As a result, Sponsor’s use of debt can result in a loss of some or all of your investment.

Sponsor’s Offering is Not Registered

Sponsor’s securities offering will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon the exemptions from registration pursuant to Rule 506(c) of Regulation D as promulgated under the Securities Act (“Private Placement”). In addition, the offering will not be registered under any state securities laws in reliance on exemptions from state registration. Such securities (your ownership interests) are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under applicable state and federal securities laws pursuant to registration or an available exemption. All Private Placements on the Platform are intended solely for “Accredited Investors,” as that term is defined in Rule 501(a) under the Securities Act.

No Investment Advice

Nothing on this Page should be regarded as investment advice (either with respect to a particular security or regarding an overall investment strategy), a recommendation, an offer to sell, or a solicitation of or an offer to buy any security. Advice from a securities professional is strongly advised to understand and assess the risks associated with real estate or private placement investments. For additional information on RM Securities’ involvement in this offering, please carefully review the Sponsor’s Investment Documents, and RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

1031 Exchange Risk

Internal Revenue Code Section 1031 (“Section 1031”) contains complex tax concepts and certain tax consequences may vary depending on the individual circumstances of each investor. RM Securities and its affiliates make no representation or warranty of any kind with respect to the tax consequences of your investment or that the IRS will not challenge any such treatment. You should consult with and rely on your own tax advisor about the tax aspects with respect to your particular circumstances.

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Use an authenticator app on your device to verify your identity when you log in.

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SECURITY SETUP

Security setup is complete.

You can manage your two-factor authentication settings anytime in your profile.

SECURITY SETUP

Verify your phone number.

We've sent a text message with a one-time verification code to:

Request another code.

SECURITY SETUP

Verify your phone number.

Request a one-time verification code to verify the phone number we'll use for two-factor authentication.

US phone number only. Message and data rates may apply.

SECURITY SETUP

Connect your authenticator app.

1. Install an authenticator app

of your choice on your mobile device.

2. Scan this QR code

with your authenticator app to get a verification code.

QR Code

3. Enter the code

from your authenticator app:

SIGN IN

Verify your identity.

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SECURITY SETUP

Security setup skipped.

You can manage your two-factor authentication settings anytime in your profile.

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