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Funded
Multifamily
BelAire Apartments
Marietta, GA
INVESTMENT STRATEGY
Value-Add
INVESTMENT TYPE
Equity
Add to Watchlist
100% funded
Offered By Western Wealth Capital
15.7%* TARGET IRR 14.7%-16.7%
5.3%* TARGET AVG CASH ON CASH
1.5x* TARGET EQUITY MULTIPLE
Estimated Hold Period 3 Years
Estimated First Distribution 11/2021
Minimum Investment 25000
*Please carefully review the Disclaimers section below, including regarding Sponsor’s assumptions and target returns
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Project Summary
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Explore this Project
Overview
Western Wealth Capital, an institutional Sponsor, presents the opportunity to acquire BelAire Apartments, a 188-unit garden style multifamily community located in Marietta, Georgia, 24-minutes northwest of downtown Atlanta.
Location

Atlanta is a hotbed for tech, growth, and innovation. Microsoft’s new $75 million project, announced in 2020, will employ 1,500-2,500 workers. The property is 7 minutes from Dobbins Air Force Base and Lockheed Martin, who employ over 7,000 people. The Cumberland Platinum Triangle is 17-minutes away offering over 15 million square feet of office and retail space and over 150,000 jobs.

Market

The Marietta submarket is quickly growing with rents rising 5.2% over the past year. The area is also rapidly gentrifying as many older retail units are currently under redevelopment. Average in-place rents at the property are currently 12% below average rents in Marietta.

Value-Add

The previous owners have spent minimal capital upgrading property amenities and many of the units remain unrenovated. There are significant value-add opportunities to improve the building’s exterior appearance including a modern paint job and upgrades to the surrounding landscaping and pool area.

Property At A Glance
# of Units 188
# of Buildings 20
Parking Ratio 1.76 Per Unit
Current Occupancy 98%
Year Built 1987
Acquisition Price

$36,300,000

Investment Highlights
Western Wealth Capital (the "Real Estate Company") is under contract to purchase the Property for $36,300,000, representing an acquisition cap rate of 4.25%.
Value-adding opportunities, not including market rent growth and cost reductions, represent a value increase of approximately $14 million, or approximately 126% of the equity.
Average in-place rents at the Property are currently $1,164/month, which is 12% below the average submarket rents.
The targeted annual cash flows should be between 3.0% and 6.2%.
The average annualized returns are targeted up to 17%.
Management
Cumulative Distributions

Western Wealth Capital

Western Wealth Capital ("WWC") has developed a proven, reliable system for investing in multi-family properties in key real estate markets across the U.S. WWC offers Investment Partners the opportunity to invest in cash-flowing properties with substantial value-add opportunities. Since its inception, they have successfully completed over $2.9 billion in real estate transactions.

https://www.westernwealthcapital.com/
  • Janet LePage
    CEO and Co-Founder
  • David Steele
    Co-Founder and General Partner
Janet LePage
CEO and Co-Founder

For the past decade, Janet has been focused on creating wealth through well-selected real estate. She has grown her precise business strategy from more than 50 residential transactions in Arizona to the purchase of 95+ multifamily buildings comprised of over 21,000 rental units. Under Janet’s leadership, Western Wealth Capital has grown to over 200 employees and successfully completed over $2.9 billion in real estate transactions.

In 2019, Janet was recognized in Canada’s Top 40 Under 40 for Business and 2019 RBC Canadian Female Entrepreneur of the Year. Janet was also a bronze winner of the International Stevie Awards for Women in Business and awarded the REIN’s Multifamily Investor of the Year.

In 2017, Janet was named Entrepreneur of the Year (Real Estate/Construction/Pacific region) by Ernst & Young. In 2016, Janet was named one of Business in Vancouver’s Forty Under 40 and was awarded the Veuve Clicquot Canadian New Generation Award which recognizes young female entrepreneurs.

Janet holds a Bachelor of Applied Science in Computer Science and Business Administration (Simon Fraser University) and a Project Management Professional designation. Janet is co-author of ‘Real Estate Action 2.0’, released in 2016 by Jurock Publishing Ltd.

David Steele
Co-Founder and General Partner

Dave Steele is co-founder and General Partner of Western Wealth Capital, a company focused on creating wealth for its clients through well-selected investment real estate. Western Wealth Capital targets cash-flowing properties with exceptional value creation potential in North America’s top investment markets. Over the past seven years, Dave and his team have raised over $700 million in private equity, acquiring over 95 multi-family properties with 21,000 plus rental units and a purchase value of over $2.9 billion.

David is also the CEO of Western Canadian Properties Group, a company that is focused on helping real estate investors acquire investment properties in the hottest real estate markets in Canada and the Western United States.

Track Record

Western Wealth Capital Track Record(1)

Currently Under Management:
Property City, State Asset Type Acq Date Units Purchase Price
Southwinds Point Stockbridge, GA Multi-family Jan-19 240 $28,350,000
Bridgewater at Mt. Zion Stockbridge, GA Multi-family Oct-18 200 $22,300,000
Parc at 1695 Norcross, GA Multi-family Jan-20 252 $31,650,000
Arizona Portfolio Arizona Multi-family Various 7,416 $946,450,000
Texas Portfolio Texas Multi-family Various 6,747 $708,200,000
Total       14,855 $1,736,950,000
Sold/Refinanced:
Property City, State Asset Type Acq Date Units Purchase Price Sale Price Sale/Refi Date
Arizona Portfolio Arizona Multi-family Various 6,521 $511,519,950 $745,162,857 Various
Texas Portfolio Texas Multi-family Various 480 $47,750,000 $54,500,000 Various
Total       7,001 $559,269,950 $799,662,857  

(1) Representative of a selective track record. The Real Estate Company has transacted on over $2.9B of multifamily properties. They are currently invested in 16,214 units of MF with $2.3B of AUM. Please see their attached portfolio brochure for additional detail.

The above bios and track record were provided by Western Wealth Capital and have not been independently verified by RealtyMogul.

Business Plan

The Business Plan involves increasing the net operating income over a three-year period using Western Wealth Capital’s disciplined and consistent value-add program. The three main drivers to increase the net operating income:

  1. Normalize rents and bring to market average
    • Current owners are operating with the disparity between rents of like-units across the property. Western Wealth Capital intends to reduce that disparity using a proven lease management approach.
  2. Interior Upgrades
    • Western Wealth Capital plans to complete a range of interior upgrades to 125 units and project a $165 per month per unit increase in rental income.
  3. Washer/Dryer Value-Add Opportunity
    • Western Wealth Capital plans to install washers and dryers in 150 units of the 188 units, enabling a projected increase of $50 per unit per month of rental income.

CapEx Breakdown

  Amount Per Unit
Interior Renovations    
Interior upgrade (125 Units) $937,500 $4,987
Washer/Dryer $150,000 $3,261
Model Unit $15,000 $326
Total Interior Renovation Costs $1,102,500 $8,574
     
Exterior Renovations Amount Per Unit
Signage $40,000 $213
Pool Furniture + Deck $50,000 $266
Fitness Center $20,000 $106
Other Amenities $75,000 $399
Roof $50,000 $266
Landscaping $50,000 $266
Retaining Walls $80,000 $426
HVAC $40,000 $213
Parking Lot $75,000 $399
Exterior Paint - Rails/stairs $80,000 $426
Operation Start-up $28,200 $150
Parcel Lockers $30,000 $160
Dog Park $35,000 $186
Plumbing Allowance $50,000 $266
Wood Replacement/Stairs $100,000 $532
OPTION: Glass railing behind leasing office. $30,000 $160
OPTION: Replace 3 paned windows in leasing office $10,000 $53
Total Exterior Renovation Costs $843,200 $4,485
     
CM Fee $54,375 $289
Reserve (10.3%) $200,232 $1,065
     
Grand Total $2,200,307 $14,413
Property
Property Details

Built in 1987, the Property offers great upside potential with many units in need of upgrading. BelAire is positioned 11 minutes from Interstate 75 linking to downtown Atlanta in 24 minutes. BelAire Apartment Homes has a mix of studio, one, two, and three-bedroom apartments featuring sunrooms, patios, storage rooms, walk-in closets, and keyless building entry. Community amenities at this property feature a clubhouse, swimming pool, fitness center, dog park, playground, grill area, and walking trail. 

Unit Mix

Classic # of Units Avg SF/Unit Avg Rent  Avg Rent Stabilized Rent per SF
1x1 (A) - Classic 13 690 960 1,134 $1.39
2x2 (A) - Classic 51 1,000 1,113 1,340 $1.11
2x2 (B) - Classic 82 1,100 1,134 1,340 $1.03
3x2 (A) - Classic 4 1,285 1,324 1,594 $1.03
Renovated # of Units Avg SF/Unit Avg Rent Avg Rent Stabilized Rent per SF
0x1 (A) - 2020 Built 12 585 1,109 1,309 $1.90
0x1 (A) - 2020 Built 6 680 1,113 1,409 $1.64
1x1 (B) - Renovated 3 690 1,155 1,358 $1.67
2x2 (A) - Renovated 5 1,000 1,266 1,516 $1.27
2x2 (B) - Renovated 6 1,100 1,364 1,587 $1.24
3x2 (A) - Renovated 6 1,285 1,458 1,754 $1.13
Total/Averages 188 999 $1,140 $1,357 $1.36
Comparables

Lease Comparables

  The Bentley at Marietta Magnolia at Whitlock Wood Pointe 1250 West Trellis Apartments Comp Averages BelAire Apartments
Year Built 1985 1972 1987 1987 1986 1983 1987
Average Rental Rate $1,315 $1,297 $1,396 $1,437 $1,449 $1,414 $1,181
Average SF 959 1,118 1,050 959 1,261 1,036 992
Average $/SF   $1.50   $1.1   $1.33   $1.50 $1.15 $1.36 $1.19
               
# Units (0x1)             18
$ (0x1)             $1,200
SF (0x1)             630
$/SF (0x1)             $1.90
               
# Units (1x1) 64 32 87 188   93 16
$ (1x1) $1,223 $1,115 $1098 $1,293   $1,218 $1,020
SF (1x1) 800 850 785 753   777 690
$/SF (1x1) $1.53 $1.31 $1.40 $1.72   $1.57 $1.48
               
# Units (2x2) 58 96 67 222 166 122 144
$ (2x2) $1,416 $1,293 $1,685 $1,460 $1,400 $1,438 $1,175
SF (2x2) 1,100 1,150 1,218 1,070 1,240 1,148 1,050
$/SF (2x2) $1.29 $1.12 $1.38 $1.36 $1.13 $1.25 $1.12
               
# Units (3x2)   24 24 58 44 38 10
$ (3x2)   $1,580 $1,668 $1,812 $1,635 $1,700 $1,485
SF (3x2)   1,350 1,541 1,200 1,340 1,320 1,285
$/SF (3x2)   $1.17 $1.08 $1.51 $1.22 $1.29 $1.16

Sales Comparables

  2330 Cobb Vinings Palisades The Everette at East Cobb SoCo Apartments Crest at East Cobb Wildwood Ridge Total/Averages BelAire Apartments
Date Under Contract Under Contract February 1, 2021 December 1, 2020 November 1, 2020 October 1, 2020   Jul '24
Submarket Smyrna Smyrna Marietta Smyrna Martietta Atlanta   Southwest Marietta
Year Built 1986 1973 1983 1985 1973 1974 1979 1987
Units 222 427 312 106 150 564 297 188
Average SF 975 1,099 997 1,064 1,133 1,268 1,089 999
Sale Price $41,500,000 $76,000,000 $48,400,000 $16,000,000 $24,900,000 $113,500,000 $53,383,333 $36,300,000
$/Unit $186,937 $177,986 $155,128 $150,943 $166,000 $201,241 $173,039 $193,085
$/SF $191.60 $162.73 $155.48 $130.25 $146.47 $183.15 $161.61 $193.30
Distance from Subject (mi.) 6.6 miles 9.5 miles 4.8 miles 7.1 miles 5.3 miles 8.4 Miles 8.4 Miles  

 

Location

Market Overview

Atlanta was the fourth fastest-growing metro area in the U.S. between 2010 and 2019 and rents in the city continue to rise at an impressive annual rate of 3.5%. The city is already home to more than a dozen Fortune 500 companies including Coca-Cola, Chick-fil-A, and The Home Depot. Microsoft’s new $75 million project, announced in 2020, will employ 1,500-2,500 workers. Airbnb has chosen Atlanta for its new East Coast tech hub, employing roughly 300 people. Atlanta’s industrial market has seen strong leasing activity over the past year and Amazon is leading the way with 6.0 million square feet of industrial space leased in 2020 alone.

Submarket Overview

The Marietta submarket is quickly growing with rents rising 5.2% over the past year. The area is also rapidly gentrifying as many older retail units are currently under redevelopment. Major employers in the area include Dobbins Air Force Base and Lockheed Martin, who together employ over 7,000 people. The submarket neighbors "The Platinum Triangel" offering over 15 million square feet of office and retail space and over 150,000 jobs.

Photos
Financials
Sources & Uses

Total Capitalization

Sources of Funds $ Amount $/Unit
Debt $29,500,000 $156,915
GP Investor Equity $250,000 $1,330
LP Investor Equity $10,840,000 $57,659
Total Sources of Funds $40,590,000 $215,904
     
Uses of Funds $ Amount $/Unit
Purchase Price $36,300,000 $193,085
General Partner Fees(1) $1,021,000 $5,431
CapEx $2,200,307 $11,704
Tax/Insurance Escrow $140,868 $749
Legal & Closing Costs(2) $927,825 $4,935
Total Uses of Funds $40,590,000 $215,904

The Sponsor’s equity contribution may consist of friends and family equity and equity from funds controlled by the Sponsor.

(1) General Partner Fees are inclusive of the Real Estate Company's acquisition fee and mortgage guarantee fee.

(2) RM Technologies, LLC, an affiliate of RealtyMogul, operates the RealtyMogul Platform.  RM Technologies, LLC charges a fixed, non-percentage-based fee for real estate companies and their sponsors to use the Platform and for Platform-related services.  Please see the Fees and Disclaimers sections below for additional information concerning fees paid to RM Technologies, LLC. 

Debt Assumptions

The expected terms of the debt financing are as follows:

  • Lender: Greystone
  • Base Term: 3 Years
  • Extensions: 2 Years
  • Loan-to-Value:  81.3%
  • Estimated Proceeds: $29,500,000
  • Interest Type: Floating
  • Spread:  LIBOR + 295 with LIBOR floor of 0.25%
  • Interest-Only Period: 5 Years
  • Amortization: Interest Only
  • Prepayment Terms: 75bps after 6 months
  • Exit Fee: 75bps
  • Extension Fees: 25bps

There can be no assurance that the Sponsor will secure debt on the rates and terms noted above, or at all.  All of the Sponsor’s estimated 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.

A substantial portion of the total acquisition for the Property will be paid with borrowed funds. The use of borrowed money to acquire real estate is referred to as leveraging.  Leveraging increases the risk of loss.  If the Sponsor were unable to pay the payments on the borrowed funds (called a "default"), the lender might foreclose, and the Sponsor could lose its investment in its property.

Distributions

Western Wealth Capital intends to make distributions from RM LXIII, LP as follows:

  1. To the Investors, pari passu, until a full return of LP capital;
  2. 65% / 35% (65% to Investors / 35% to Promote) of excess cash flow thereafter. 

Western Wealth Capital intends to make distributions to investors after the payment of both company's liabilities (loan payments, operating expenses, and other fees as more specifically set forth in the LLC agreements, in addition to any member loans or returns due on member loan).

Distributions are expected to start in November 2021 and are projected to continue on an annual basis thereafter. Distributions are at the discretion of Western Wealth Capital, who may decide to delay distributions for any reason, including maintenance or capital reserves. 

Cash Flow Summary
    Year 1 Year 2 Year 3
Effective Gross Revenue   $2,787,527 $3,146,974 $3,495,296
Total Operating Expenses   $1,162,387 $1,396,861 $1,431,850
Net Operating Income   $1,625,387 $1,750,113 $2,063,447
         
Project-Level Cash Flows(1)(2)
  Year 0 Year 1 Year 2 Year 3
Net Cash Flow -$11,090,000 $452,395 $569,932 $15,909,248
         
Investor-Level Cash Flows(1)(2)
  Year 0 Year 1 Year 2 Year 3
Net Cash Flow -$3,000,000 $122,379 $154,175 $4,303,674
         
Investor-Level Cash Flows - Hypothetical $50,000 Investment(1)(2)
  Year 0 Year 1 Year 2 Year 3
Net Cash Flow -$50,000 $2,040 $2,570 $71,728

(1) The Real Estate Company reserves the right to distribute 80% of net cash flow to Investors with the remaining 20% to be held back as working capital and redistributed at the end of the hold period.

(2) Returns are net of all fees.  Such Fees include fees paid to RM Admin, an affiliate of RealtyMogul, who charges an annual fixed administrative fee for providing certain ongoing administrative services to the Sponsor.  Please see the Fees and Disclaimers sections and Disclaimers sections below for additional information concerning fees paid to RM Admin. 

RM Technologies, LLC and its affiliates does not provide any assurance of returns.  The content on this Page, including Sponsor’s pro forma projections, was provided by the Sponsor or an affiliate thereof.  Although RM Technologies, LLC believes the Sponsor reliably produced this content, RM Technologies, LLC makes no representations or warranties as to the accuracy of such information and accepts no liability therefor.  The assumptions and projections included in the content on this Page, including the Sponsor’s pro forma projections, are not reflective of the position of RM Technologies, LLC or any other person or entity other than the Sponsor or its affiliates.  There can be no assurances that all or any of the Sponsor’s assumptions will be true, that actual performance will bear any relation to these hypothetical illustrations, or that the Sponsor’s investment objectives will be achieved.  For additional information concerning the Sponsor’s assumptions and projections, and the significant risks involved in investing in real estate, please see the Disclaimers section below.  

Fees

Certain fees and compensation will be paid over the life of the transaction; please refer to Western Wealth Capital's materials for details. The following fees and compensation will be paid(1)(2)(3):

One-Time Fees:
Type of Fee Amount of Fee Received By Paid From
Acquisition Fee Up to 2.0% of Purchase Price Western Wealth Partnership at Close
Disposition Fee 1.0% of Disposition Sales Price Western Wealth Partnership at Sale
Mortgage Guarantee Fee 1.0% of Mortgage Western Wealth Partnership at Close
Construction Management Fee 5.0% of Interior Rehab Costs Western Wealth CapEx Budget
       
Recurring Fees:
Type of Fee Amount of Fee Received By Paid From
Property Management Fee 3.0% of EGI Western Wealth Property Manager Cash Flow
Asset Management Fee 2.0% of EGI Western Wealth Cash Flow
Administrative Services Fee 1.0% of Equity(4) RM Admin(3) Cash Flow

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

(2) RM Technologies, LLC, an affiliate of RealtyMogul, operates the RealtyMogul Platform.  RM Technologies, LLC charges a fixed, non-percentage-based fee for real estate companies and their sponsors to use the RM Technologies, LLC’s proprietary Platform and receive Platform-related services.  An estimate of this fee is included in the Closing Costs above and is intended to be capitalized into the transaction at the discretion of the Sponsor.  The Platform fees received by RM Technologies, LLC are disclosed in the relevant operating agreement(s).  RM Technologies LLC’s receipt of Platform fees creates a conflict of interest between RealtyMogul and its affiliates, and investors or prospective investors.

(3) RM Admin, an affiliate of RealtyMogul, charges an annual fixed administrative fee for providing certain ongoing administrative services to the Sponsor.  RM Admin’s administrative services and fees are disclosed in the relevant operating agreement(s). RM Admin’s receipt of administrative fees creates a conflict of interest between RealtyMogul and its affiliates, and investors or prospective investors.

(4) Only applies to equity raised through the RealtyMogul Platform

 

 

Disclaimers/FAQs
Disclaimers

The content on this Page was provided by the Sponsor or an affiliate thereof.  Although RM Technologies, LLC believes the Sponsor reliably produced this content, RM Technologies, LLC makes no representations or warranties as to the accuracy of such information and accepts no liability therefor.  No part of the content and information on this Page is intended to be binding on RM Technologies, LLC or its affiliates, or to supersede any of the Sponsor’s offering materials.  None of the opinions expressed on this Page are the opinions of, nor are they endorsed by, RM Technologies, LLC or its affiliates.

The content on this Page, including of the principal terms of the Sponsor’s offering, is qualified in its entirety by reference to the more complete information about the offering contained in the Sponsor’s offering documents, including, without limitation, the Private Placement Memorandum, Operating Agreement, Subscription Agreement and all exhibits and other documents attached thereto or referenced therein (collectively, the "Investment Documents").  The content on this Page is not complete, and each prospective investor should carefully read all of the Investment Documents and any supplements thereto, copies of which are available by clicking the links above or upon request, before deciding whether to make an investment.  The content on this page should not be used as a primary basis for an investor’s decision to invest.  In the event of an inconsistency between the content on this Page and the Investment Documents, investors should rely on the information contained in the Investment Documents.  The content on this Page and the information in the Investment Documents are subject to last minute changes up to the closing date at the discretion of the Sponsor. 

Assumptions and projections included in the content on this Page are not reflective of the position of RM Technologies, LLC or its affiliates, or any other person or entity other than the Sponsor or its affiliates.  There can be no assurance that the Sponsor’s methodology used for calculating any projections, including Target IRR, Target Annualized Cash-on-Cash Return, and Target Equity Multiple (“Targets”), are appropriate or adequate.  The Sponsor’s Targets are hypothetical, are not based on actual investment results, and are presented solely for the purpose of providing insight into the Sponsor’s investment objectives, detailing its anticipated risk and reward characteristics and for establishing a benchmark for future evaluation of the Sponsor’s performance. The Sponsor’s Targets are not a predictor, projection or guarantee of future performance.  There can be no assurance that the Sponsor’s Targets will be met or that the Sponsor will be successful in meeting these Targets.  Target returns should not be used as a primary basis for an investor’s decision to invest.

This real estate investment is speculative and involves substantial risk.  There can be no assurances that all or any of the assumptions will be true or that actual performance will bear any relation to the hypothetical illustrations herein, and no guarantee or representation is made that investment objectives of the Sponsor will be achieved.  In the event that actual performance is below the Sponsor’s Targets, your investment could be materially and adversely affected, and there can be no assurance that investors will not suffer significant losses.  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.  Please see the Sponsor’s Investment Documents for additional information, including the Sponsor’s discussion concerning risk factors.

Please see the applicable Investment Documents for disclosure relating to forward-looking statements.  All forward-looking statements attributable to the Sponsor or its affiliates apply only as of the date of the offering and are expressly qualified in their entirety by the cautionary statements included elsewhere in the Investment Documents.  Any financial projections are preliminary and subject to change; the Sponsor undertakes no obligation to update or revise these forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.  Inevitably, some assumptions will not materialize, and unanticipated events and circumstances may affect the ultimate financial results. Projections are inherently subject to substantial and numerous uncertainties and to a wide variety of significant business, economic and competitive risks, and the assumptions underlying the projections may be inaccurate in any material respect. Therefore, the actual results achieved may vary significantly from the forecasts, and the variations may be material.

The interests offered by the Sponsor 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 interests will not be registered under any state securities laws in reliance on exemptions from registration.  Such 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 RealtyMogul Platform are intended solely for “Accredited Investors,” as that term is defined Rule 501(a) of the Securities Act.  Prospective investors must certify that they are Accredited Investors and provide either certain supporting documents or third party verification, and must acknowledge that they have received and read all investment materials.

RM Technologies, LLC, an affiliate of RealtyMogul, operates the RealtyMogul Platform.  RM Technologies, LLC charges a fixed, non-percentage-based fee for real estate companies and their sponsors to use the RM Technologies LLC’s proprietary Platform and receive Platform-related services.  An estimate of this fee is included in the Closing Costs above and is intended to be capitalized into the transaction at the discretion of the Sponsor.  The Platform fees received by RM Technologies, LLC are disclosed in the relevant operating agreement(s). RM Technologies LLC’s receipt of Platform fees creates a conflict of interest between RealtyMogul and its affiliates, and investors or prospective investors.

RM Admin, an affiliate of RealtyMogul, charges an annual fixed administrative fee for providing certain ongoing administrative services to the Sponsor.  RM Admin’s administrative services and fees are disclosed in the relevant operating agreement(s). RM Admin’s receipt of administrative fees creates a conflict of interest between RealtyMogul and its affiliates, and investors or prospective investors.

RealtyMogul is not a registered broker-dealer, investment adviser or crowdfunding portal.  Nothing on this Page should not be regarded as investment advice, either on behalf of 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, and we recommend that you consult with a financial advisor, attorney, accountant, and any other professional that can help you to understand and assess the risks associated with any real estate investment.

For additional information on risks and disclosures visit https://www.realtymogul.com/investment-disclosure.

 

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