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Funded
Multifamily
Inspire Court
Los Angeles, CA
INVESTMENT STRATEGY
Development
INVESTMENT TYPE
Equity
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100% funded
Offered By Bond Companies
20.1%* TARGET IRR 19.1%-21.1%
1.73X* TARGET EQUITY MULTIPLE
Estimated Hold Period 3 Years
Estimated First Distribution 9/2024
Minimum Investment 35000
*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
Ground-up development of a Class A, 46-unit boutique multifamily building in the growing Echo Park neighborhood of Los Angeles, named by Forbes magazine as one of the coolest neighborhoods in the US.
Market

The Echo Park submarket of Los Angeles has excellent long-term fundamentals, a result of the high barrier of entry. Its central location to the Hollywood, Glendale, and the Downtown Los Angeles job centers, in addition to the growing base of local and nationally renowned retailers, restaurants, and entertainment venues make it a highly sought after neighborhood. Inspire Court is strategically located in the most convenient area of Echo Park, allowing residents to take advantage of these top recreational areas in the immediate vicinity, in addition to the premium amenity offerings within the building itself.

Location

Inspire Court benefits from an easily accessible transit-orientated location that is advantageously positioned along the LA Content-Media “S-Curve.” The region, extending from Glendale and Burbank, through the heart of Hollywood and Downtown LA, into the Westside, is home to some of the most prominent technology and entertainment companies in the Nation. The median home value has seen more than 80% growth since 2015, with single-family home prices in Echo Park now average ~$1.1 million, extending the renter lifecycle. Inspire Court provided the highly coveted suburban lifestyle with urban Los Angeles the renters desire.

Management

Bond Companies is a premier, award-winning real estate development company with a tremendous track record, consisting of an experienced team of professionals that handle all aspects of real estate development. Bond Companies has significant experience in the Echo Park submarket of Los Angeles having completed Inspire Belmont (69 Units) in 2017 and Inspire Colton (47 units on the adjacent block to Inspire Court) in 2021. Vertically integrated, Bond Companies' Property Management arm has intimate knowledge of Echo Park and the rental demographic.  

Property At A Glance
# of Units 46
Construction Completion Date September 2023
Parking Ratio 1:1
Target Return on Cost 5.5%
Exit Cap Rate 4.0%
Acquisition Price

$3,694,120

Investment Highlights
Walking distance to an abundance of outdoor amenities, including Vista Hermosa Park, Echo Park Lake, Elysian Park, and the #1 rated public pool.
Echo Park is “the coolest neighborhood of Los Angeles” – Forbes Magazine
This boutique Class A building will feature both downtown LA and Mountain Views.
Walking distance to the commercial corridors along Glendale and Sunset Boulevard.
Bond Companies has received numerous national awards including winning the coveted “Residential Developer of the Year” by the Los Angeles Business Journal.
Management
Cumulative Distributions

Bond Companies

Bond Companies is a premier, award-winning real estate development company with a long track record and proven ability to own, develop and manage all asset classes. Bond consists of an experienced team of professionals that handle all aspects of real estate development, investment, and management, including but not limited to acquisition, project/construction management, asset management, property management, accounting, and disposition. Chicago and LA-based Bond and its subsidiaries currently own 15 projects nationwide, with its recent activity focused on mixed-use and multifamily assets in Los Angeles, Chicago, and the Southeast.

Not only have The Company's latest two projects won awards (Spoke won the Silver prize for "Best Overall Project in the U.S." and gold for "Best Amenity Package" & Inspire Southpark won the "Heavy Hitters Award" for the best development in Charlotte) but so has The Company itself, being named Residential Developer of the Year by Los Angeles Business Journal and top 3 National Finalist for National Association of Home Builders - Freddie Mac Multifamily Development Firm of the Year.

All told, Bond Company has won almost 30 awards since 2000. 

Bond Companies is recognized with the first LEED Gold office space in Los Angeles, the first development company in the Chicago metro area to complete a LEED Silver mixed-use project, Center on Halsted in Chicago, Illinois, and the first in greater Chicago to complete a LEED Gold shopping center with its project Springbrook Prairie Pavilion in Naperville.

Those accomplishments have only been possible because of Bond's commitment to fostering invaluable relationships with leaders throughout the financial, real estate, and civic sectors. Those relationships ensure the Company's success now and in the future.

 

 

https://bondcompanies.com/
  • Larry Bond
    Co-Founder and Chairman
  • Rob Bond
    Co-Founder and President
Larry Bond
Co-Founder and Chairman

Larry Bond co-founded Bond Companies along with his brother Robert Bond in 1987 and serves as its Chairman. Bond Companies has offices in Los Angeles and Chicago. Larry heads the Los Angeles office.

The Los Angeles Business Journal has honored Bond Companies as “Residential Developer of the Year”. In addition, the National Association of Home Builders honored the company by selecting it as one of three finalists for the Freddie Mac Multifamily Developer of the Year for the United States. All told, the company has won dozens of awards for its innovative developments throughout the United States.

Mr. Bond has been developing mixed-use properties for more than twenty years including the award-winning, Sunset & Vine, a 750,000 square foot mixed-use project in Hollywood at the intersection bearing its name. Sunset & Vine won more than a dozen national awards including “Project of the Year”, “Best Urban Mixed-Use Project”, “Best Urban Retail Center” and “Best Residential Project”. This includes the highly coveted “Golden Nugget” award for best real estate development.

Rob Bond
Co-Founder and President

Robert J. Bond is a co-founder and president of Bond Companies, an award-winning real estate development and investment firm with offices in Chicago and Los Angeles. Rob is based in Chicago.

With a national platform, Bond Companies has completed several high-profile projects in Oakland, San Francisco, and Los Angeles, and in the Chicago metropolitan area. Having won multiple awards and improving the fabric of those communities, Mr. Bond has always kept the local community and their needs in high regard and consideration during each project. The firm has expertise in mixed-use, adaptive re-use, retail and multi-family developments.

Track Record

Bond Companies Track Record

Bond Companies has developed dozens of projects worth more than $3 billion including 22 multifamily assets of approximately $1.2 billion, resulting in an average equity multiple of 2.54X, and a 33% IRR.

Property  Location Deal Type Deal Status Number of Units
Tamarus Park Apartments Las Vegas, NV Value Add Sold 245
Remington Canyon Las Vegas, NV Development Sold 284
Woodbridge Apartments Las Vegas, NV Value Add Sold 324
Bridgeview Towers San Francisco, CA Development Sold 245
The Aurora San Francisco, CA Development Sold 160
Capitol Towers Sacramento, CA Value Add Sold 409
5555 Hollywood Hollywood, CA MF Land Sold 110
Inspire Belmont Los Angeles, CA Development Own 69
Hawk Hollow Chicago, IL MF Land Sold 136
The Pointe Chicago, IL MF Land Sold 40
Wilcox Cole Hollywood, CA MF Land Sold 50
Sunset & Vine Hollywood, CA Development Sold 300
Blossom Plaza Los Angeles, CA Development Sold 268
Spoke Apartments Chicago, IL Development Own 363
Axis Apartments Nashville, TN Value Add Own 130
Mosaic Apartments Nashville, TN Value Add Own 233
Inspire Southpark Charlotte, NC Development Sold 369
Inspire Colton Los Angeles, CA Development Own 47
Inspire Court Los Angeles, CA Development Under Development 46
Inspire West Town Chicago, IL Development Under Development 130
Inspire Echo Park Los Angeles, CA Development Under Development 90
Inspire Hollywood Los Angeles, CA Development Under Development 200
Total       4,248

The above bios and track record were provided by the Bond Companies and have not been independently verified by RealtyMogul.

Bond Companies Past Projects:

Inspire Colton

Inspire SouthPark

Second Home Hollywood

Business Plan

Bond Companies (the "Sponsor") is pleased to present the opportunity to invest in Inspire Court, a ground-up residential development located in the Echo Park submarket of Los Angeles. Inspire Court will bring 46 Class A units to one of the most desirable neighborhoods in all of Los Angeles, located between the employment hubs of Downtown Los Angeles and Hollywood. 

Located a block and a half from the main commercial corridor of Glendale Blvd, residents are centrally located for live, work, & play. A short walk, bike, or scooter ride brings residents to numerous neighborhood favorites, including critically acclaimed restaurants, coffee shops, and bakeries, while being within 7 miles of the most sought after entertainment venues in Los Angeles - LA Live, which includes Staples Center and the Microsoft Theater, the Hollywood Bowl, and the Greek Theater. 

The total project costs are $23.3M, which reflects a negotiated GC contract. The Sponsor is seeking an equity investment of $5.8M.

The Project represents the opportunity to invest in an urban infill project located in a highly sought-after submarket, with excellent sponsorship and a proven track record in the immediate neighborhood.

Development Budget

Land Costs $ Amount Per SF Per SF
Land Acquisition Cost $3,085,000 $67,065 $94
Closing Costs $459,120 $9,981 $14
Acquisition Financing - Interest Reserve $150,000 $3,261 $5
Total Land Costs $3,694,120 $80,307 $112
       
Hard Costs $ Amount Per SF Per SF
Hard Costs (GC) $13,651,874 $296,780 $415
Architect / Engineering $804,782 $17,495 $24
Permits $709,900 $15,433 $22
Utilities $326,250 $7,092 $10
Insurance $374,501 $8,141 $11
FF&E $262,500 $5,707 $8
Hard Cost Contingency $830,685 $18,058 $25
Total Hard Costs $16,960,492 $368,706 $516
       
Soft Costs $ Amount Per SF Per SF
Developer's Fee $716,140 $15,568 $22
Professional Fees - General Legal $230,300 $5,007 $7
Other Costs $160,000 $3,478 $5
Marketing - Miscellaneous/Other $43,500 $946 $1
OP Shortfall - Real Estate Taxes $125,000 $2,717 $4
Operating Deficit  $83,861 $1,823 $3
Additional Contingency $450,000 $9,783 $14
Total Soft Costs $1,808,801 $39,322 $55
       
Financing Costs(1)  $891,373 $19,378 $27
Grand Total $23,354,786 $507,713 $710

(1) Financing Costs include construction loan interest reserve. 

Property
Property Details

Inspire Court, designed as a 6-story, Class A project, will include 46 residential units (715 NRSF avg. unit size), on-site parking (48 spaces), and various high-end amenities. The unit interior finishes and amenity packages are designed to lead the submarket, incorporating the most popular features found at Bond Companies' top-performing communities across the nation. Inspire Court is an opportunity to invest in a high-end luxury community in a high-demand submarket lacking modern supply. The Property will provide the highly coveted suburban lifestyle in Los Angeles.  

Building Amenity List:

  • Gym
  • Coworking Lounge
  • Outdoor Kitchen
  • Sky Lounge Entertainment Room w/ Chef’s Kitchen
  • Expansive Rooftop Deck with Fire Pits, BBQ’s, Cabana’s & Daybeds
  • Resident Lobby with Smart Package Machine
  • Resident Storage
  • Covered Parking
  • Secure Managed Wifi Throughout the Building

Unit Amenity List:

  • In-unit Washer & Dryer
  • Stainless Steel Appliances
  • Quartz Countertops
  • Dishwasher
  • Central A/C
  • Concrete or Wood Flooring
  • Built-in Closet Space
  • Recessed Lighting with Dimmer Controls
  • Keyless Entry
  • Custom Designed Management Application
  • Patio/Balconies and Furnishings available in Select Units

Unit Mix

Market # of Units Avg SF/Unit Avg Rent  Rent per SF
0x1 17 367 $2,100 $5.72
2x1 7 800 $3,143 $3.93
3x3 5 1,093 $4,500 $4.12
4x3 10 1,187 $4,975 $4.19
Affordable  # of Units Avg SF/Unit Avg Rent Rent per SF
0x1 2 367 $522 $1.42
1x1 3 522 $696 $1.33
2x1 2 708 $923 $1.30
Total/Averages 46 715 $2,933 $4.10
Comparables

Lease Comparables

  Inspire Belmont Inspire Colton HoM Temple Alexan Bahay The Dillon Silver Lake Averages Subject
Year Built 2017 2020 2015 2020 2019 2018 2023
# of Units 69 45 68 200 49 86 46
Average Rental Rate $3,421 $3,117 $3,017 $2,647 $2,845 $3,010 $2,933
Average Unit Size 917 SF 718 SF 1,069 SF 904 SF 819 SF 885 SF 715 SF
Average $/SF $3.73 $4.34 $2.82 $2.93 $3.48 $3.46 $4.10
Distance from subject 0.4 mi 0.1 mi 1.6 mi 0.7 mi 1.9 mi 0.7 mi  
               
$/Unit (Studio) $2,132 $2,529     $1,871 $2,177 $1,934
SF (Studio) 460 558     539 519 367
$/SF (Studio) $4.63 $4.53     $3.47 $4.21 $5.27
               
$/Unit (1x1) $2,818 $2,963 $2,150 $2,341 $2,942 $2,643 $696
SF (1x1) 740 656 709 783 710 720 522
$/SF (1x1) $3.81 $4.52 $3.03 $2.99 $4.14 $3.70 $1.33
               
$/Unit (2x2) $3,732 $0 $3,285 $3,126 $2,952 $2,619 $2,649
SF (2x2) 1,079 0 1,188 1,094 900 852 779
$/SF (2x2) $3.46 $0.00 $2.77 $2.86 $3.28 $2.47 $3.40
               
$/Unit (3x2) $4,951 $4,874 $3,649   $4,131 $4,401 $4,500
SF (3x2) 1,296 1,328 1,215   1,230 1,267 1,093
$/SF (3x2) $3.82 $3.67 $3.00   $3.36 $3.46 $4.12
               
$/Unit (4x3)             $4,975
SF (4x3)             1,187
$/SF (4x3)             $4.19

Sales Comparables

  nVe Fairfax Vues on Gordon Metropolitan at Lachmont 5727 La Mirada The Highland Averages Subject
Date Sold Dec-19 Nov-19 Aug-19 Feb-19 Jul-18   Sep-24
Year Built 2018 2018 2017 2018 2016 2017 2023
# of Units 63 47 34 28 76 50 46
Average Unit Size 783 SF 844 SF 820 SF 1,470 SF 855 SF 954 SF 715 SF
Sale Price $36,000,000 $23,500,000 $19,200,000 $17,700,000 $52,000,000 $29,680,000 $28,963,948
$/Unit $571,429 $500,000 $564,706 $632,143 $684,211 $590,498 $629,651
$/SF $730 $592 $688 $430 $801 $648 $881
Cap Rate 4.00% 4.29% 3.75% 4.32% 3.60% 3.99% 4.00%
Building Size 49,315 SF 39,696 SF 27,907 SF 41,163 SF 64,919 SF 44,600 SF 32,886 SF
Distance from subject 6.6 mi 5.0 mi 4.6 mi 4.6 mi 6.6 mi 5.5 mi  
Location

Market Overview

Los Angeles is amid a severe housing shortage and residential neighborhoods like Echo Park are in high demand and lack modern supply. Record-low inventory of single-family homes coupled with underbuilding due to supply-side constraints has pushed ownership out of reach for most. In 2020, Los Angeles overtook San Francisco as the least affordable homeownership market in the US. Inspire Court will offer the market high-quality, modern, amenity rich units to meet this market demand. The competitiveness within the local housing market has continued to drive up median home prices at a faster rate than the City of Los Angeles as well as the nation. Echo Park's home values have increased 8.8% over the past year. This rising cost even with record-low mortgage rates has put homeownership out of reach for many individuals while renting presents the only affordable option. 

Though strong demographics in regions like Echo Park are expected to increase demand over the long term, the housing affordability issue in major markets, like Los Angeles, remains a critical challenge. As such, strategies targeting well-located, high-quality, more affordable rental options remain a key focus for both renters and investors alike. Single Family Home prices in Echo Park now average almost $1.1 million showing the desirability of the area and that the homes are priced out of the reach of most renters. The median home value has seen more than 80% growth since 2015 (source: Zillow). 

In recent years, tenant demand has mostly kept pace with rising supply levels across the nation. And though the multi-housing sector is experiencing weaker demand in the near term, the sector is poised to ultimately benefit well from the pent-up demand created by COVID-19. Over the next decade, the most attractive opportunities for investors will occur primarily around the ‘Middle Market’ and ‘Workforce’ pricing segments, allowing investors to service an expanding pool of price-sensitive renters while maintaining focus on delivering high-quality, well-located units as will be done at Inspire Court. 

 

Submarket Overview

Echo Park is a neighborhood within the City of Los Angeles. Specifically, Echo Park lays 2.5 miles northwest of Downtown Los Angeles (DTLA). Over the past several years, the neighborhood has become one of the most sought-after neighborhoods in all of Los Angeles, boasting an affluent yet hip demographic which has attracted an abundance of award-winning restaurants, cafes, and entertainment venues. The historic soul has combined with a newer, trendier atmosphere to make Echo Park what many refer to as “the greatest neighborhood in Los Angeles.”

Although Echo Park has experienced elevated demand from renters, rental rates still trail the metro significantly, indicating an opportunity for the neighborhood to significantly outperform the Los Angeles MSA. Surrounded by public parks and hillside scenery, Inspire Court offers a distinct living experience from the high-density communities being delivered today. Each project is within walking distance to some of the lushest and gorgeous parks, and nature preserves in Greater Los Angeles. Additionally, new award-winning restaurants and coffee shops are continuously emerging throughout the neighborhood intensifying the area’s attraction. The highly walkable neighborhood has all the resources to satisfy its occupiers: schools, natural amenities, culture and hip retail, restaurants, and a central location relative to many of the major business districts. Furthermore, Echo Park has central access to some of the predominant highways that are used to commute throughout Los Angeles.

Photos
Financials
Sources & Uses

Total Capitalization

Sources of Funds $ Amount $/Unit
Debt $16,932,220 $368,092
GP Investor Equity $642,567 $13,969
LP Investor Equity $5,780,000 $125,652
Total Sources of Funds $23,354,786 $507,713
     
Uses of Funds $ Amount $/Unit
Land & Acquisition Cost1 $3,694,120 $80,307
Financing Costs $891,373 $19,378
Hard Costs $16,960,492 $368,706
Soft Costs $1,808,891 $39,324
Total Uses of Funds $23,354,786 $507,713

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

(1) 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:

  • Term: 3 Years
  • Loan-to-Value: 70.0% (72.5% LTC)
  • Estimated Proceeds: $16,932,220
  • Interest Type: Floating
  • One Month spread over LIBOR: 2.75%
  • Interest-Only Period: 36 Months
  • Amortization: 30 Years

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

The Bond Companies intends to make distributions from Inspire Court RM, LLC as follows:

  1. Pari Passu to the members until each member has recieved an amount equal to a 9% IRR preferred return and its capital contribution has been returned; 

  2. 80% / 20% (80% to Members / 20% Promote to Real Estate Company) to a 13% IRR; 

  3. 70% / 30% (70% to Members / 30% Promote to Real Estate Company) to a 15% IRR; 

  4. 50% / 50% (50% to Members / 50% Promote to Real Estate Company) thereafter. 

The Bond Companies 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 September 2024 and are projected to continue on a quarterly basis thereafter. Distributions are at the discretion of The Bond Companies, who may decide to delay distributions for any reason, including maintenance or capital reserves. The Bond Companies will receive a promote as indicated above, and a portion of this promote may be received by RM Admin, LLC for administrative services.

Cash Flow Summary        
    Year 1 Year 2 Year 3
Effective Gross Revenue   $0 $0 $1,360,164
Total Operating Expenses   $0 $35,801 $561,543
Net Operating Income   $0 ($35,801) $798,622
         
Project-Level Cash Flows        
  Year 0 Year 1 Year 2 Year 3
Net Cash Flow ($6,422,566) $0 $0 $12,934,223
         
Investor-Level Cash Flows*        
  Year 0 Year 1 Year 2 Year 3
Net Cash Flow ($5,780,000) $0 $0 $10,008,191
         
Investor-Level Cash Flows - Hypothetical $50,000 Investment*    
  Year 0 Year 1 Year 2 Year 3
Net Cash Flow ($50,000) $0 $0 $86,576

*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 The Bond Companies' materials for details. The following fees and compensation will be capitalized(3)(4)(5):

One-Time Fees:
Type of Fee Amount of Fee Received By Paid From
Development Fee 4.4% of Hard and Soft Costs Bond Companies JV
Disposition Fee1 0.50% of Gross Sales Price Bond Companies JV
         
Recurring Fees:
Type of Fee Amount of Fee Received By Paid From
Administrative Services Fee 1.0% of Equity Invested2 RM Admin3 Cash Flow
Asset Management Fee 1.0% of EGI Bond Companies Cash Flow
Property Management Fee 3.0% of EGI Bond Companies Cash Flow

(1) Disposition is contingent on both (a) return to Investors of initial invested capital and (b) Investors realizing 10% IRR on initial invested capital

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

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

(4) 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.

(5) 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.

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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