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Funded
Multifamily
Sherwood Oaks
Riverview, FL
INVESTMENT STRATEGY
Value-Add
INVESTMENT TYPE
Equity
Add to Watchlist
100% funded
Offered By RM Communities
16.0%* TARGET IRR 15.0%-17.0%
7.7%* TARGET AVG CASH ON CASH
2.27X* TARGET EQUITY MULTIPLE
Estimated Hold Period 7 Years
Estimated First Distribution 5/2022
Minimum Investment 35000
*Please carefully review the Disclaimers section below, including regarding Sponsor’s assumptions and target returns
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Explore this project
Overview
Sherwood Oaks is a 199-unit multifamily value-add opportunity in the Tampa metro, one of the fastest-growing multifamily markets for population and rent growth in the country.
Desirable Product Type

Sherwood Oaks stands out amongst its competitors with its unique, predominantly single-story construction, a feature that is highly desirable with tenants and a huge competitive advantage over nearby apartment properties. The low-density grounds feature abundant, mature oak trees, which create a shade canopy over the property, providing temperature control and natural curb appeal.

Renovated

Since 2020, the Property has received over $3MM/$15K+ per unit in capital improvements. This includes a complete roof replacement, exterior paint, dog park, landscaping enhancements, and unit interior renovations.

Market

According to research from Yardi Matrix, the Tampa metro saw the third biggest year-over-year increase in apartment rental rates growing 15.1% between June 2020 and June 2021. That rate is more than twice the national average. In the Southeast Tampa submarket where this asset is located, quarter-to-date year-over-year asking rent growth is 25%.

Property at a glance
# of Units 199
Current Occupancy 97%
Year Built 1984
Class B
Property Type Garden Apartments
Acquisition Price

$35,000,000

Investment Highlights
RM Communities is acquiring the Property for $35 million, which represents a going-in cap rate of 4.47% on expected year one net operating income.
Sherwood Oaks offers some of the best value for renters in the region. With an average stabilized rent of $1,346 per unit, the Property is over 11% below the current average of $1,515 per unit in the Tampa market.
Year over year, rent growth in every submarket in the Tampa metro area is up at least 9 percent. This rapid rent growth throughout the region reflects the strength of the entire metro area, not just the core business districts.
With over $3 million in capital improvements made to the Property since 2020, and another +$1.3 million slated to further upgrade the property, RM Communities believes Sherwood Oaks is well positioned to take advantage of increasing rents in the Tampa MSA.
RM Communities will retain Cushman & Wakefield, a nationally recognized property management company with over 14,000 units under management in Florida, to manage this asset.
The exit strategy is to sell the Property in 7 years at an anticipated cap rate of 4.85%.
Management
Cumulative Distributions

RM Communities

RM Communities is the direct acquisition arm of RealtyMogul, which, through its subsidiary, operates an online technology platform which has been utilized by its members to invest in affiliated and unaffiliated real estate companies that have acquired approximately $5.5 billion of real estate assets, including historical investments in over 26,000 apartment units. 

  • Jilliene Helman
    Chief Executive Officer
  • Todd Hanson
    Managing Director
  • Derek Jensen
    Director of Acquisitions, West
  • Zach Karr
    Director of Acquisitions, Mountain Region and Texas
Jilliene Helman
Chief Executive Officer

Jilliene Helman is Chief Executive Officer of RealtyMogul and its wholly owned subsidiaries, RM Manager, RealtyMogul Commercial Capital, RM Adviser, RM Technologies, RM Admin and RM Communities. She has been involved in investments with property values over $5 billion, including over 26,000 apartment and single-family units, and is a pioneer in real estate crowdfunding.

Todd Hanson
Managing Director

Todd Hanson is the Managing Director for RM Communities across the US and has responsibility for planning and execution of overall strategy and directing the investment and financing activities of the company. He is actively involved in maintaining existing client relationships and developing new capital and partnership opportunities for the company.  Mr. Hanson was previously EVP and Head of Investments at The ConAm Group, a private equity multifamily investment firm.  

Derek Jensen
Director of Acquisitions, West

Derek Jensen is a Director of Acquisitions for RM Communities, the direct acquisition arm of RealtyMogul, and has responsibility for overseeing direct acquisitions of multifamily opportunities in the western half of the United States. Mr. Jensen has over 20 years of real estate experience, concentrated in the acquisition, management and disposition of over 10,000 multifamily units including market rate, value-add, affordable housing and fractured condominiums. Mr. Jensen has held positions at several private and institutional firms including Pacifica Companies and GFI Partners.

Zach Karr
Director of Acquisitions, Mountain Region and Texas

Zach Karr is a Director of Acquisitions for RM Communities, and has responsibility for sourcing and acquiring multifamily assets in the Mountain West region of the United States and Texas. Mr. Karr has nearly a decade's worth of experience in real estate, primarily in the acquisition, financing, development, and investment management of multifamily properties valued at over $2 billion. Mr. Karr has held positions at several private and institutional firms including GCM Grosvenor, Geringer Capital, and Continental Partners.  

Track Record

Property Name Location Multifamily Class No. of Units Year Built Purchase Price CapEx Budget Status
Terrace Hill El Paso, TX B 310 1983 $18,700,000 $4,095,000 Full Cycle. 22% deal-level IRR, 18% LP-level IRR*
La Privada El Paso, TX B 240 1982 $11,700,000 $1,867,000 Closed
The Hamptons Virginia Beach, VA B 212 1973 $19,051,000 $3,792,000 Closed
Pohlig Box Factory & Superior Warehouse Richmond, VA A- 93 & 7,700 Retail SF 2004 $15,900,000 $1,348,000 Closed
Lubbock Medical Office Building Lubbock, TX B 20,880 SF 1966 $8,350,000 $0 Closed
Turtle Creek Fenton, MO A- 128 2018 $24,875,000 $596,000 Closed
The Orion Orion Township, MI B+ 200 1995 $27,375,000 $2,308,000 Closed
Kings Landing Creve Coeur, MO A- 152 & 9,229 Retail SF 2005 $40,100,000 $3,885,850 Closed
Minnehaha Meadows Vancouver, WA A 49 2021 $16,450,000 $83,950 Closed
Roosevelt Commons Vancouver, WA A 36 2020 $12,550,000 $78,200 Closed
Bentley Apartments Grove City, OH A- 138 2020 $30,200,000 $650,000 Closed
Sherwood Oaks Riverview, FL B 199 1984 $35,000,000 $1,266,725 Closed
Haverford Place Georgetown, KY A- 160 2001 $31,050,000 $2,836,734 Closed
Edison Apartments Gresham, OR A 64 2020 $19,500,000 $203,390 Closed
Total     1,981   $310,801,000 $23,010,849  

The acquisitions of the Terrace Hill Apartments, La Privada, The Hamptons, and Pohlig Box Factory & Superior Warehouse properties preceded the formation of the RM Communities, LLC.  Consequently, these real estate assets are managed by an affiliate of RM Communities, LLC.  They are included as part of the RM Communities, LLC portfolio because these real estate assets were acquired and are managed under the same executive leadership in Jilliene Helman and according to the same investment strategy employed by RM Communities, LLC.

Note: Totals include Terrace Hill (sold).

*Past performance is not indicative of future performance.

Business Plan

The business plan for Sherwood Oaks is to operate the Property professionally to maintain high occupancy while moving the rents to market. The demand for multifamily housing in the Tampa Bay market is unprecedented and fueled by robust in-migration. Current ownership renovated all of the unit interiors with tenants in-place in addition to other significant exterior capital improvements. As result, recently signed leases have grown over ~$250 higher than in-place rent. This presents a unique opportunity for the Sponsor to capture rent increases immediately upon renewal or releasing of units while simultaneously embarking on their own capital improvement plan. The Sponsor plans to invest an additional ~$1.3MM to upgrade the clubhouse, upgrade the grilling area, replace HVAC units, mill and overlay the asphalt, upgrade and make improvements to the pool area, improve the dog park, make landscaping improvements, and enhance site lighting by up-lighting and wrapping the oak trees in mini LEDS. 

Current ownership has been renewing leases at ~$150 to ~$200 below current asking rents. After completing an exhaustive market rent survey, the Sponsor believes they can renew leases at or around market rents which will accelerate income growth.

The Tampa metro is one of the leading markets in the country for rent growth with over 15% YOY growth. The robust growth in the market and the fact that nearby rent comps are achieving rents that are $200 higher for similar units provide comfort for this business plan.

RM Communities anticipates financing the Property with a 5-year bridge loan with three years of interest only, then refinance into a 7-year agency loan with three years of interest-only debt.

The Sponsor plans to exit in 7 years at a projected 4.85% cap rate.

CapEx Breakdown

Interior Upgrades Total Per Unit
Misc./Materials $50,000 $251
HVAC Replacement $50,000 $251
Total $100,000 $503
     
Exterior Upgrades Total Per Unit
Sewer Plan Improvements $75,000 $377
Exterior Lighting $25,000 $126
Landscaping & Drainage $90,000 $452
Pool Area Improvements $70,000 $352
Dog Park Improvements $15,000 $75
Parking Lot Repairs $260,000 $1,307
Clubhouse/Maint. Storage $120,000 $603
Pergola, Benches, Grills $25,000 $126
Future CapEx $160,000 $804
Other $230,000 $1,156
Total $1,070,000 $5,377
     
Summary Total Per Unit
Interior Upgrades $100,000 $503
Exterior Upgrades $1,070,000 $5,377
Contingency  (10%) $117,000 $588
Construction Mgmt. Fee (10%) $58,500 $294
Total $1,345,500 $6,761

 

Property

Property Details

Sherwood Oaks is in Riverview, FL, a suburb 12 miles southeast of Downtown Tampa. The property, consisting of 199 units with a mixture of studio, one, and two bedrooms, was built in 1984. Sherwood has a unique, predominantly single-story construction, a feature that is highly desirable amongst tenants and a huge competitive advantage over nearby apartment properties. Amenities at the Property include a modern clubhouse, resort-style pool, and package lockers.

Riverview, along with the broader Tampa metro, has consistently been ranked as one of the top 10 best markets for multifamily investing over the last 2 years. Since 2010, the population has grown 34% in Riverview, and the growth forecast for 2021 is 3.4%. Tampa Bay is home to 20 corporate headquarters with over $1 billion in annual revenue, eight of which are Fortune 1000 companies. The median area income is $85k.

Unit Mix

Units Type Unit SF Total SF In-Place Rent Stabilized Rent Rent / SF
21 0/1  300 6,300 $934 $1,060 $3.53
128 1/1 675 86,400 $1,098 $1,365 $2.02
33 2/1 1,000 33,000 $1,198 $1,400 $1.40
17 2/2 1,000 17,000 $1,284 $1,450 $1.45
199   717 142,700 $1,114 $1,346 $1.88
Comparables

Lease Comparables

Studio SF Stabilized Rent Per SF Year Built
Sherwood Oaks 300 $1,060 $3.53 1984
Indigo Point 533 $1,653 $3.10 1989
Rivertree Apartments 608 $1,368 $2.25 2004
Average 571 $1,511 $2.65  
1 Bed/1 Bath SF Stabilized Rent Per SF Year Built
Sherwood Oaks 675 $1,365 $2.02 1984
Lakewood Place 600 $1,323 $2.21 1986
Retreat at Crosstown 704 $1,450 $2.06 1985
Rivertree Apartments 714 $1,544 $2.16 2004
Average 673 $1,439 $2.14  
2 Bed/1 Bath SF Stabilized Rent Per SF Year Built
Sherwood Oaks 1,000 $1,400 $1.40 1984
Lakewood Place 900 $1,425 $1.58 1986
Rivertree Apartments 973 $1,921 $1.97 2004
Retreat at Crosstown 902 $1,705 $1.89 1985
Average 925 $1,684 $1.82  
2 Bed/2 Bath SF Stabilized Rent Per SF Year Built
Sherwood Oaks 1,000 $1,450 $1.45 1984
Lakewood Place 1,000 $1,625 1.63 1986
Rivertree Apartments 1,032 $1,906 $1.85 2004
Retreat at Crosstown 1,024 $1,757 $1.72 1985
Average 1,019 $1,763 $1.73  

Sales Comparables

Property Name Submarket Property Address City Sale Date Sale Price Number of Units Gross Building SF Price per Unit Price per SF Year Built Building Class
Sherwood Oaks Brandon 10103 Sherwood Lane Riverview 10/1/2021 $35,000,000 199 141,376 $175,879 $248 1984 B
The Park at Elland/Gibraltar Clearwater 2481 NE Coachman
2550 Stag Run Blvd
Clearwater 8/31/2021 $76,000,000 425 370,628 $178,824 $205 1985/6 B
The Lory of Braden River Bradenton 702 51st St  Bradenton 7/14/2021 $53,300,000 270 241,595 $197,407 $221 2002 B
Bayvue Rocky Point 5902 Memorial Hwy Tampa 7/7/2021 $59,500,000 368 283,729 $161,685 $210 1984 B
Century Crosstown Brandon 9712 Bosque Creek Cir. Tampa 6/30/2021 $73,685,372 344 375,185 $214,202 $196 2013 A
Eagles Point Apartments Tampa Palms 14551 N 46th St Tampa 12/17/2020 $31,500,000 192 168,575 $164,063 $187 1989 C
Trellis at the Lakes Brighton Bay 11401 Dr. Martin Luther King Jr St N Saint Petersburg 11/9/2020 $114,000,000 688 503,498 $165,698 $226 1990 A
Promenade at Carillon Carillon 540 Carillon Pky Saint Petersburg 1/14/2020 $64,128,000 334 323,688 $192,000 $198 1986 B
Location

Market Overview: Tampa MSA

The Tampa MSA is widely considered one of the most desirable and business-friendly regions in the country. Tampa’s ease of connectivity to other major metros and highly talented workforce have resulted in an established and growing economy supported by healthcare, financial services, military, tourism, manufacturing, and technology to name a few. Voted the best mid-size airport by the Wall Street Journal, Tampa International Airport has allowed venture capitalist to access the emerging tech scene, growing from incubators such as the Tampa Bay WaVE, Embarc Collective, and TEC Garage.

The region’s affordable cost of living, low tax environment with zero state income tax, excellent year-round weather and quintessential waterfront locations are attracting people and businesses to the region at a blistering pace. Currently, six fortune 500 companies are headquartered in Tampa Bay including Raymond James Financial, Tech Data, Jabil Circuit, Publix, Qurate, and Mosaic, which relocated from Minneapolis to Tampa in October of 2019. In spring of 2021, Signode, a $2 billion packaging company announced it is relocating its headquarters to Tampa from Chicago siting cost of living and quality of life.

Location Overview: Riverview, FL

Located on the Alafia River shoreline, the city of Riverview, Florida offers access to some of the sunshine state's best outdoor amenities and recreation opportunities. Plus, it's proximate to big-city amenities in nearby Tampa which include the acclaimed Tampa Museum of Art and Amalie Arena. Riverview has become one of the fastest growing areas on Florida's west coast over the last decade with its central location to both Tampa and Brandon. This location makes it an appealing option for those who work in the Tampa/Brandon area but don’t want the high rent prices that come with urban assets. 

Photos
Financials
Sources & Uses

Total Capitalization

Sources Amount $/unit %
Senior Loan $27,750,000 $139,447 72.3%
LP Investor Equity $10,657,819 $53,557 27.7%
Total $38,407,819 $193,004 100.0%
       
Uses Amount $/unit %
Purchase Price $35,000,000 $175,879 91.1%
Loan Fee $485,625 $2,440 1.3%
Closing, Legal Fees $503,760 $2,531 1.3%
CapEx Budget $1,345,500 $6,761 3.5%
Acquisition Fee $700,000 $3,518 1.8%
Taxes and Insurance $167,190 $261 0.4%
Working Capital $130,000 $653 0.3%
Interest & CF Reserve $75,744 $381 0.2%
Total $38,407,819 $193,004 100.0%

 

 

Debt Assumptions

The expected terms of the debt financing are as follows:

Senior Debt:

  • Loan Type: Debt Fund
  • Total Loan Amount: $27,750,000
  • Loan Term: 5 Years
  • Lender: Harbor Group Intl.
  • Mortgage Broker: Berkadia
  • Amortization: 30 Years
  • Interest Rate: LIBOR + 3.25%
  • Interest-Only: 3 Years
  • Initial Loan-to-Value:  76.4%
  • Loan-to-Cost: 74.3%
  • Extension Options: 2, 12 month

Refinance:

  • Refi Date: Month 36
  • Total Loan Amount: $31,074,614
  • Refi Loan Term: 10 Years
  • Amortization: 30 Years
  • Refi Loan-to-Value: 72.0%
  • Interest Rate: 4.25%
  • Interest-Only: 3 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

RM Communities intends to make distributions from Sherwood Oaks Investors, LLC as follows:

Operating Cash Flow

  1. 8% Preferred Return
  2. 70%/30% (70% to Members/30% to RM Communities) to a 16% IRR
  3. 50%/50% (50% to Members/50% to RM Communities) thereafter

Capital Event

  1. 8% Preferred Return
  2. Return of Capital
  3. 70%/30% (70% to Members/30% to RM Communities) to a 16% IRR
  4. 50%/50% (50% to Members/50% to RM Communities) thereafter

RM Communities 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 May 2022 and are projected to continue on a quarterly basis thereafter. Distributions are at the discretion of RM Communities, 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 Reversion
 Effective Gross Income $2,990,926 $3,386,171 $3,554,617 $3,685,392 $3,820,994 $4,304,463
 Expenses $1,422,938 $1,510,225 $1,554,872 $1,599,514 $1,645,458 $1,792,866
 Net Operating Income  $1,567,988 $1,875,946 $1,999,745 $2,085,878 $2,175,537 $2,511,596

Projected Investor Cash Flows

  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7
Net Earnings to Investor -Hypothetical $50,000 Investment(1) ($50,000) $2,806 $3,692 $17,108 $3,194 $3,473 $3,688 $79,640

(1) Returns are net of all fees. 

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 RM Communities' materials for details. The following fees and compensation will be paid(1):

One-Time Fees:
Type of Fee Amount of Fee Received By Paid From
Acquisition Fee 2.0% of Purchase Price RM Communities Capitalized Equity Contribution
Recurring Fees:
Type of Fee Amount of Fee Received By Paid From
Asset Management Fee 1.5% of Effective Gross Income RM Communities Distributable Cash
Property Management Fee 3.0% of Effective Gross Income Cushman & Wakefield, Third Party Property Manager Distributable Cash

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

 

Disclaimers
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.

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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