Risk and Quality Controls
Steps we take to mitigate risk on the Platform
Sponsors

We run extensive background checks, criminal checks, bad actor checks, and reference checks on sponsors. In addition to never allowing a sponsor with a criminal history / any securities related issue to use the platform, we may also turn down sponsors due to poor reference checks even if background and criminal checks come back clear.

Escrow accounts

We require unaffiliated sponsors to use an unaffiliated third-party escrow agent. When an investor makes an investment with unaffiliated sponsors using the RealtyMogul platform, the investor’s money is transferred directly into a third-party escrow account. All closing conditions in connection with a sponsor’s offering need to be met before the third-party escrow agent will approve releasing investor funds to the issuer or general partner. For example, if an issuer or general partner plans to use funds for a real estate acquisition that does not ultimately transact, the third-party escrow agent will not transfer investor funds to the issuer or general partner, and funds will be returned to investors.

Boots on the ground

Our controls include visiting every property (or a subset of properties if it’s a fund) to confirm the real estate is what and where the real estate is supposed to be.

Detailed Checklists

We have robust quality controls with detailed checklists and a review of third-party reports.

Funded
Target IRR  14.3%-16.3% *
15.3%
Target Avg. Cash on Cash* 5.6%
Target Equity Multiple* 1.96X
Estimated Hold Period* 5 Years
FUNDED 100%
...
View our Risk and Quality Controls.
*Please carefully review the Disclaimers section below, including regarding Sponsor’s assumptions and target returns
Offered By
DB Capital Management
Investment Strategy Value-Add
Investment Type Equity
Estimated First Distribution 8/2022
Minimum Investment 35000
Overview
ReNew at TPC is a value-add multifamily property located in San Antonio, TX. The Property was built in 2007 and consists of 408 units.
Market

The Property is centrally located near some of the largest employers in San Antonio. Major employers include JP Morgan Chase Corporate Center, Sonterra Medical Center, Southwest Airlines HQ, RidgeWood Park, and several Amazon Fulfilment Centers. 

Value-Add

The renovation scope that DB Capital has planned will surpass the quality of comparable properties in the area while at the same time maintaining a competitive edge on rental rates. Tenants will be driven to the property by the quality of the product and its affordability. 

Potential Efficiencies

The business plan is focused on driving top-line and ancillary income coupled with reducing unnecessary spending patterns. It includes a revamped social media presence while implementing a more focused marketing strategy. Implementing in-house management with years of experience will further reduce unnecessary spending. 

Property at a glance
# of Units 408
# of Buildings 18
Year Built 2007
Parking Ratio 1.48 per unit
Exit Cap Rate 4.95%
Acquisition Price $76,200,000
Investment Highlights
DB Capital is acquiring the Property for $76,200,000, ($186,765 per unit) at a cap rate of 3.42%.
The all-in basis and projected exit basis are below what it would cost to build a similar asset.
There are less than 700 units in the pipeline to be built in the submarket. Most of what will be built out in the surrounding submarket are single-family track homes in the $500k+ range.
The median household income is $92,425 within a 1-mile radius.
Skyline Property Management will be managing the Property. Skyline manages over 1,000 units in TX (352 in San Antonio) and members of the executive team have managed assets in San Antonio in the past.
Post-renovation rent projections are well supported by similar, adjacent assets demonstrating a clear path to stabilization.
DB Capital is anticipating a 15.3% IRR and 1.96x EM based on a 5-year hold
Management
Cumulative Distributions

DB Capital Management

DB Capital Management has built a concentrated strategy of investing exclusively in multifamily assets in select markets nationwide. Following extensive market research, the company identifies markets that exhibit common characteristics that will support long-term growth and attractive investment fundamentals. DB Capital focuses on investing in Class A and B product that appeals to the broadest swath of renters and is relatively well insulated from new supply concerns. With rising construction costs this subsection of the market is poised to draft off rent ceilings that are raised by new Class A deliveries. The company targets value-add and core-plus multi-family investments in submarkets with a highly educated, stable workforce with proximity to major employment hubs and tech companies. The company deploys a diversified but targeted investment allocation strategy across different metro markets and varying cash flow and appreciation strategies.

https://www.dbcap.com/
  • Brennen Degner
    CEO
  • Devin Antin
    Co-Founder
Brennen Degner
CEO

Mr. Degner is a Co-Founder and CEO of DB Capital. Prior to his role with DB Capital, Mr. Degner was COO and Director of Asset Management for MJW Investments, Inc. where he oversaw the operation and management of an approximately $1 Billion diversified real estate portfolio. He has broad experience in the acquisition and repositioning of underperforming projects in multifamily and student housing investments. Mr. Degner is a graduate of the prestigious Dollinger Master of Real Estate Development program at the University of Southern California, holds a Bachelor of Arts Degree in Political Science from the University of Arizona, and has received a certificate in Real Estate Investments from the University of California, Los Angeles.

Devin Antin
Co-Founder

Mr. Antin is a Co-Founder and Managing Director of DB Capital. Prior to his role with DB Capital, Mr. Antin was a founding partner and Managing Director of DRA Enterprises ("DRA"), a real estate investment fund focused on value-add apartment projects in the greater Los Angeles area. Mr. Antin played a key role in business plan strategy development and execution throughout all of DRA’s $30 million of assets under management. Additionally, Mr. Antin is an active venture investor with a diversified portfolio that includes investments in restaurants, apparel brands, and medical devices. Mr. Antin holds a Bachelor of Arts Degree in Regional Development from the University of Arizona and currently sits on the board of the Antin Family Foundation.

Track Record

Property Vintage City, State Asset Type Acq Date Units or SF Purchase Price Sale Price IRR(1) Equity Multiple(1)
1850 11th Street 1964 Santa Monica, CA Multifamily 11/18/2015 6 $1,927,000 $4,195,000 85% 1.89x
7511 Lexington Ave 1957 West Hollywood, CA Multifamily 11/9/2015 15 $4,250,000 $5,640,000 26% 1.48x
2428 Kansas Ave 1952 Santa Monica, CA Multifamily 2/17/2016 7 $2,063,000 $2,650,000 33% 1.51x
925 N Curson Ave 1957 West Hollywood, CA Multifamily 7/10/2015 10 $2,625,000 $3,740,000 77% 2.84x
1634 Arapahoe Street 1918 Los Angeles, CA Multifamily 5/1/2015 9 $860,000 $1,250,000 37% 1.95x
Edgewood Park 1994 Cottonwood Heights, UT Multifamily 9/6/2018 64 $11,000,000 $15,625,000 35% 1.85x
Avenue East 1971 Salt Lake City, UT Multifamily 8/9/2019 17 $2,325,000 $4,275,000 51% 1.66x
Century Apartments 1963 Salt Lake City, UT Multifamily 11/28/2018 30 $3,900,000 $7,100,000 23% 1.60x
Chateau De Ville 1973 Salt Lake City, UT Multifamily 4/11/2019 27 $4,600,000 $7,500,000 26% 1.62x
112 N Normandie 1950 Los Angeles, CA Multifamily 6/12/2012 12 $1,220,000 $2,539,600 21% 4.57x
Hidden Chalet & Haven Gardens 1976 Salt Lake City, UT Multifamily 2/13/2020 59 $6,700,000 $11,500,000 59% 2.15x
Fir Street 1952 San Diego, CA Multifamily 4/24/2018 10 $2,267,500 $3,176,471 13% 1.35x
Tempo West Apartments 1973 Portland, OR Multifamily 7/22/2019 60 $10,750,000 $16,500,000 26% 1.69x
Terra at Murrayhill 1986 Beaverton, OR Multifamily 12/6/2019 137 $34,100,000 $47,000,000 29% 1.68x
Mueller Place (I & II) 1969 Austin, TX Multifamily 7/31/2018 110 $10,533,000 $15,900,000 13% 1.35x
Lamar Station(2) 1984 Austin, TX Multifamily 10/11/2019 192 $28,800,000 $43,225,000 36% 2.07x
Morton Meadows 1973 Salt Lake City, UT Multifamily 7/2/2019 32 $3,600,000 $6,500,000 75% 2.53x
2515 Kansas Ave 1973 Santa Monica, CA Multifamily 12/15/2016 8 $3,750,000 N/A    
Venice Apts 1953 Venice, CA Multifamily 2/9/2018 13 $4,025,000 N/A    
Summit at Wash Park 2018 Denver, CO Multifamily 10/5/2020 46 $16,200,000 N/A    
Ascent at Union Square 1991 Provo, UT Multifamily 12/23/2020 139 $16,000,000 N/A    
Ascent at North Burnet 1980 & 1984 Austin, TX Multifamily 1/28/2021 422 $49,800,000 N/A    
Ascent at Cottonwood Creek 2004 West Jordan, UT Multifamily 6/1/2021 88 $12,250,000 N/A    
Ascent on the Highline 1984 Aurora Multifamily 6/30/2021 138 $31,000,000 N/A    
Summit at Layton 1997 Layton, UT Multifamily 11/9/2021 43 $13,015,000 N/A    
Summit at Westwood 1984 Austin, TX Multifamily 11/4/2021 150 $30,150,000 N/A    
Summit at Salado Creek 1997 San Antonio, TX Multifamily 11/18/2021 352 $52,500,000 N/A    
Ascent at Northgate 1972 Austin, TX Multifamily 12/2/2021 112 $15,500,000 N/A    
Ascent at Marmalade 1953 Salt Lake City, UT Multifamily 2/28/2022 71 $18,600,000 N/A    
TOTAL         2,379 $394,310,500      

(1) Not indicative of future returns.

(2) Currently listed, returns based on estimated strike of CBRE analysis. Whisper price is $46mm.

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

The Property represents a unique opportunity to acquire a desirable garden-style asset in an exceptional location below replacement cost. DB Capital has developed a capital plan that will enhance the Property’s desirability, cure operational inefficiencies, improve floor plan marketability, drive prospective renter volume and enhance the Property’s curb appeal. With the improvements DB Capital has planned, the asset will be well-positioned to compete with comparable value-add projects in the submarket.

DB Capital's business plan for the property will focus on a four-pronged approach:

  1. Modernize exterior and common area amenities to drive desirability
  2. Design-driven unit interior renovations to increase appeal to prospective renters
  3. Initial rebranding and enhanced digital marketing
  4. Hands-on management to increase customer retention and reduce turnover

The Property will be sold at the end of year five at a projected cap rate of 4.95%.

Interior Renovations

  • Luxury vinyl plank throughout
  • Quartz countertops
  • White tile backsplash
  • Undermount sinks
  • New faucets and fixtures
  • Paint cabinets
  • Add pulls to cabinets
  • New lighting fixtures
  • Smart home "Tech Package" in each unit
  • Washer & dryer in each unit

Exterior & Common Area Renovations

  • New exterior paint
  • Modernize amenities including updating: pool & pool furniture
  • New LED lighting
  • Leasing office upgrade
  • New signage
  • Add internet infrastructure
  • Resurface and re-stripe parking lot
  • Add a new lounge area
CapEx Summary Budget Per Unit Per SF
Soft Costs $20,000 $49.02 $0.05
Exterior Upgrades $479,000 $1,174.02 $1.30
Exterior Deferred $790,000 $1,936.27 $2.14
Amenity Upgrades $275,000 $674.02 $0.74
Amenity Deferred $397,000 $973.04 $1.07
Landscaping $100,000 $245.10 $0.27
Unit Spec $4,487,538 $10,998.87 $12.15
Const Mgmt Fee (5.0%) $326,427 $800.07 $0.88
Contingency  (5.0%) $327,427 $802.52 $0.89
Total / Avg / Min / Max $7,202,392 $17,652.92 $19.50
Property Information

ReNew at TPC was built in 2007 and consists of 408 units. It represents a unique opportunity to acquire a desirable garden-style asset in an exceptional location below replacement cost. 

Unit Mix

Unit Type # of Units Avg SF/Unit Current Rent Rent per SF Post-Reno Rent Rent per SF
0 x 1 24 430 $832 $1.94 $1,105 $2.57
1 x 1 192 667 $899 $1.35 $1,358 $2.04
2 x 2 132 1,102 $1,246 $1.13 $1,650 $1.50
3 x 2 36 1,309 $1,553 $1.19 $2,210 $1.69
4 x 2 24 1,597 $1,921 $1.20 $2,685 $1.68
Total/Averages 408 905 $1,125 $1.29 $1,591 $1.84
Comparables

Lease Comparables

  Marquis at TPC Cortland Estates at TPC Cortland View at TPC Comp Averages ReNew at TPC
Address 5505 TPC Pkwy 22800 Bulverde Road 4092 TPC Pkwy   5707 TPC Pkwy
Year Built 2009 2008 2015 2011 2007
Units 139 395 365 300 408
Average Rental Rate $1,839 $2,165 $1,604 $1,887 $1,591
Average SF 1202 1,216 888 1,102 907
Average $/SF $1.53   $1.78   $1.81 $1.71 $1.75
           
# Units (1x1) 48 155 240 148 192
$ (1x1) $1,402 $1,348 $1,405 $1,385 $1,358
SF (1x1) 860 748 728 749 667
$/SF (1x1) $1.63 $1.80 $1.93 $1.85 $2.04
           
# Units (2x2) 48 116 112 92 132
$ (2x2) $1,669 $2,340 $1,942 $2,062 $1,650
SF (2x2) 1,157 1,305 1,147 1,215 1,108
$/SF (2x2) $1.44 $1.79 $1.69 $1.70 $1.49
           
# Units (3x2) 29 74 10 38 36
$ (3x2) $2,445 $2,819 $2,298 $2,677 $2,210
SF (3x2) 1,296 1,586 1,532 1,507 1,309
$/SF (3x2) $1.89 $1.78 $1.50 $1.78 $1.69
           
# Units (4x2) 14 50 3 22 24
$ (4x2) $2,665 $3,326 $2,545 $3,153 $2,685
SF (4x2) 2,332 1,910 1,850 1,995 1,597
$/SF (4x2) $1.14 $1.74 $1.38 $1.58 $1.68
Distance to Subject 0.3 miles 2.1 miles 1.6 miles 1.3 miles  

Sales Comparables

  Magnolia Heights Retreat at the Rim Marquis at Stone Oak Celese at La Cantera The Standard at Legacy Tacara Stone Oak The Noah Total/Averages ReNew at TPC
Date Dec '21 Dec '21 Dec '21 Aug '21 Dec '21 U/C Dec '21   Apr '27
Submarket NE NW FNC FNW NC NC NE   NC
Year Built 2020 2020 2008 2018 2020 2021 1994 2014 2007
SF 146,628 398,340 480,294 298,354 305,577 249,191 211,483 298,552 32,886
Units 150 384 335 300 323 338 224 293 408
Sale Price $50,000,000 $96,000,000 $81,650,000 $72,500,000 $73,644,000 $77,000,000 $44,200,000 $70,713,429 $106,316,246
$/Unit $333,333 $250,000 $243,731 $241,667 $228,000 $227,811 $197,321 $245,980 $260,579
$/SF $341.00 $241.00 $170.00 $243.00 $241.00 $309.00 $209.00 $250.57 $281.00
Cap Rate N/A 2.80% 3.20% 3.33% 3.75% N/A 3.02% 3.22% 4.95%

 

Location Information

Market Overview

The San Antonio market is growing rapidly. As more renters become priced out of the market in Austin, they are increasingly moving to San Antonio. Fannie Mae noted that San Antonio's apartment rental market weathered the economic shocks of the pandemic remarkably well. The city is expected to continue to be a steady performer as the nation continues to recover. Upcoming supply is likely to result in some easing of rent growth and vacancy rates. However, given the presence of major employers, large military presence in the metro, and growing regional health care sector, a return to the metro's long-term economic expansion is likely to continue.

Submarket Overview

RealPage is forecasting 7% rent growth over the next year in the overall San Antonio market while projections of revenue growth are even higher. North Central has a strong occupancy level of 95.5%, while year-over-year rent growth was +15%. Demand in the submarket is outpacing supply and therefore increasing occupancy levels. CoStar is reporting even more aggressive rent and revenue growth. 

Cap Stack
Sources & Uses

Total Capitalization

Sources of Funds $ Amount $/Unit
Debt $63,600,000 $155,882
GP Investor Equity $2,264,104 $5,549
LP Investor Equity $20,376,938 $49,943
Total Sources of Funds $86,241,042 $211,375
     
Uses of Funds $ Amount $/Unit
Purchase Price $76,200,000 $186,765
Acquisition Costs(1) $1,497,800 $3,671
Financing Costs $1,340,850 $3,286
Hard Costs $6,855,965 $16,804
Soft Costs $346,427 $849
Total Uses of Funds $86,241,042 $211,375

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:

  • Lender: TBD
  • Term: 5 Years
  • Loan-to-Cost: 73.3%
  • Estimated Proceeds: $63,600,000
  • Interest Type: Floating
  • Spread Above One-Month SOFR: 3.15%
  • Interest-Only Period: 60 Months
  • Amortization: N/A
  • Prepayment Terms: None
  • Extension Requirements: 49 Months, 0.25% Fee

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

DB Capital intends to make distributions as follows:

  1. To the Investors, pari passu, all operating cash flows to an 8.0% IRR;
  2. 75% / 25% (75% to Investors / 25% to Promoted/Carried Interest) of excess cash flow thereafter.

DB Capital intends to make distributions to investors after the payment of the 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 August 2022 and are projected to continue on a quarterly basis thereafter. Distributions are at the discretion of DB Capital, who may decide to delay distributions for any reason, including maintenance or capital reserves.

DB Capital will receive a promoted/carried interest as indicated above, and a portion of this promoted/carried interest may be received by RM Admin, LLC.

Investors should review the Transaction Structure, Fee, and Distribution Summary and Organization Chart in the Documents section for additional information concerning distributions as they pertain to the aggregate transaction.

Cash Flow Summary
    Year 1 Year 2 Year 3 Year 4 Year 5
Effective Gross Revenue   $6,602,084 $8,077,730 $8,688,096 $9,189,137 $9,553,610
Total Operating Expenses   $3,592,325 $3,823,360 $3,942,362 $4,062,381 $4,182,968
Net Operating Income   $3,009,758 $4,254,370 $4,745,734 $5,126,757 $5,370,642
             
Project-Level Cash Flows
  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Cash Flow ($22,641,042) $393,219 $1,115,621 $1,564,088 $2,000,195 $43,853,608
             
Investor-Level Cash Flows(1)
  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Cash Flow ($4,000,000) $39,470 $167,097 $246,328 $323,375 $7,063,118
             
Investor-Level Cash Flows - Hypothetical $50,000 Investment(1)
  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Cash Flow ($50,000) $493 $2,089 $3,079 $4,042 $88,289

(1) 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 DB Capital's materials for details. The following fees and compensation will be paid(1)(2)(3)(4)(5)(6)(7)(8):

Real Estate Company Fees:
Type of Fee Amount of Fee Received By Paid From
Acquisition Fee(5) $1,524,000 Thrive FP and DB Capital Capitalized Equity Contribution
Construction Management Fee 5.0% of Hard Costs Project Sponsor Capitalized Equity Contribution
Due Diligence Fee(6) $20,000 Thrive FP and DB Capital Capitalized Equity Contribution
         
Recurring Fees:
Type of Fee Amount of Fee Received By Paid From
Administrative Services Fee 1.0% of Equity Invested(1) RM Admin, LLC(4) Cash Flow
Property Management Fee 2.0% of Effective Gross Income Project Sponsor Cash Flow
Asset Management Fee(7) 1.0% of Effective Gross Income Thrive FP Cash Flow

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

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

(3) 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.

(4) 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.

(5) $762,000 Acquisition Fee paid to Thrive FP, a 60% equity partner in the acquisition, such that the total Acquisition Fees paid to Thrive FP and DB Capital shall equal $1,524,000

(6) $10,000 Due Diligence Fee paid to each of Thrive FP and DB Capital paid at closing of the acquisition of the Property to reimburse such parties for the costs incurred in its due diligence review of the Property

(7) 1.0% of Effective Gross Income Asset Management Fee paid to Thrive FP, such that the total Asset Management Fees paid to Thrive FP and DB Capital shall equal 2.0% of Effective Gross Income per month.

(8) Investors should review the Transaction Structure, Fee, and Distribution Summary and Organization Chart in the Documents section for additional information concerning distributions as they pertain to the aggregate transaction.

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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