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Multifamily
Flats at 2030
Phoenix, AZ
INVESTMENT STRATEGY
Value-Add
INVESTMENT TYPE
Equity
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Offered By Prism Multi Family Group
18.1%* TARGET IRR 17.1%-19.1%
6.0%* TARGET AVG CASH ON CASH
2.17X* TARGET EQUITY MULTIPLE
Estimated Hold Period 5 Years
Estimated First Distribution 6/2023
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
Flats at 2030 is a value-add property totaling 237 units located in the West submarket of Phoenix.
Cash Flow

Durable cash flow from day one by the strength of the exceptional basis ($156k/unit), fixed-rate financing at 4.95%, and below market in-place rents allowing for a projected Year 1 cap rate (5.65%) without the need to be overly aggressive on rent growth.

Basis

Superior proforma returns as the Sponsor is purchasing the Property at a very favorable price per unit. The average sales price is over $200,000/unit in the area, and Sponsor is purchasing the Property at $156,000/unit.

Value-Add

The Property provides relatively low-cost value-add opportunities, such as burning off concessions, increasing occupancy, and catching up rents to past 60-day numbers.

Property At A Glance
# of Units 237
# of Buildings 11
Year Built 1971
Parking Ratio 0.96
Exit Cap Rate 5.25%
Acquisition Price

$37,000,000

Investment Highlights
Low price per unit (~$156,000/unit) in strong Phoenix market - During the pandemic, the price per unit for most A and B class properties in Phoenix skyrocketed due to low-interest rates and high net migration in the region, severely compressing the cap rate in the area. Sponsor was able to take advantage of the low occupancy and weak trailing financials to negotiate a well below replacement cost price for the Property.
5.6% Year 1 cap rate - This strong rate is easily achieved by maintaining rents and renewals at the same rates that have been achieved in the last 60 days, burning off the significant concessions offered to build up occupancy during the lease-up after the fire and roof collapse incidents, rebuilding occupancy to the standard 94% for the area, and implementing a unit renovation plan of 30 units in year 1, and 29 units in year 2. Sponsor expects market rent growth will be 3%, which is in line with pre-pandemic levels.
Turning over property management to a proven, experienced team from a low-performing group - Existing property management and ownership allowed the Property to fall into disrepair by under-insuring the Property, leaving little to no money for replacing significant damage caused in the last couple of years. They took an inordinate amount of time to fix the damage and took a long time leasing up the Property, renting the units well below market rents with significant concessions to achieve a minimum occupancy level mandated by their lender. The Sponsor's experienced, best-in-class team will be on top of the Property at all times, ensuring targets are met at all times on both the income and expense sides.
5-year exit strategy with loan flexibility allowing Sponsor to exit sooner if the economics are optimal - As the loan is a bank loan and not an agency, Sponsor has better than normal pre-pay options which will keep the deal agile enough to execute a sale transaction at all times if the opportunity arises. The pre-pay is 5% year 1, 4% year 2, 2% year 3, and 1% thereafter. There is no yield maintenance.
The Property has strong visibility located near major highways into downtown and other corporate areas - The location of the Property on a busy road will allow for better visibility for prospective tenants.
The Property is amenitized with a gym, beautiful swimming pool, valet trash, and dog park, among others - The amenities on the Property will lend themselves to strong tenant retention, which will allow a stable occupancy rate.
Management
Cumulative Distributions

Prism Multi Family Group

Prism Multi Family Group is a Canadian-based real estate investment and asset management company specializing in acquiring value-add multifamily residences in the United States. The goal of the Company is to bring these properties up to par operationally for tenants while maximizing the NOI of the Property, thereby increasing value for investors. They do this by hiring best-in-class management companies, eliminating unnecessary expenses, and maximizing potential market rent. The Company currently has ~$268M in AUM with properties spanning the southern United States, in Florida, Arizona, Texas, Nevada, and California.

https://prismmf.com/
  • Mark Zolty
    President
  • Mitch Zolty
    Partner
  • Bernard Heitner
    Partner
Mark Zolty
President

Mark Zolty has extensive residential real estate experience, having been in the industry for over 15 years. Prior to founding Prism, Mark held the title of Principal and Managing Director at Brass Enterprises Inc., a real estate investment company focused exclusively on multifamily properties. He was responsible for overseeing all of Brass’s asset management, acquisitions, and financing functions totaling $450,000,000 in AUM. Prior to joining Brass in 2009, Mark served as a Property Manager at MetCap Living Management, one of Canada’s largest private property management firms.

Mitch Zolty
Partner

Since co-founding Prism 4 years ago Mitch has been instrumental in the acquisition of over $250 million in properties. Mitch harnesses his keen business acumen and operational knowledge, overseeing the company’s asset management, acquisition closings, and the implementation of Prism’s signature value-add strategy across the portfolio. A third-generation property operator, Mitch has spent much of his life learning from his family’s 65 years in the multifamily industry.

Bernard Heitner
Partner

Bernard is a seasoned businessman with global experience. He founded Cambridge Global Payments in 1992 and turned it into the largest private foreign exchange house in North America. With his business acumen, he grew Cambridge from a 4-person office to a 400-person company with offices in North and South America, Europe, Asia, and Australia. He expanded the company from its roots in forex to a global payment service. In 2017 he sold the company for $900M. At Prism, Bernard is focused on growing the portfolio by enabling strategic partnerships.

Track Record

Prism Multi Family Group Track Record

Property City, State Asset Type Acq Date Units  Purchase Price Sale Price
Las Vegas Portfolio (3 properties) Las Vegas, NV Multifamily 12/1/2018 390 $43,000,000 $72,000,000
Spectra at Reno Las Vegas, NV Multifamily 12/2/2018 90 $9,000,000 $12,250,000
Latitude 33 Palm Springs, CA Multifamily 1/1/2018 121 $16,625,000 N/A
72 West Tamarac, FL Multifamily 10/1/2019 291 $47,000,000 N/A
Hamlet & Continental Plantation and Lauderhill, FL Multifamily 5/1/2020 399 $53,500,000 N/A
Lakehouse Apartments Lake Elsinore, CA Multifamily 12/1/2020 128 $23,500,000 N/A
Ridgeway Village Glendale, AZ Multifamily 8/1/2021 200 $28,500,000 N/A
Spectra Parks (formally Citizen House Decker) Austin, TX Multifamily 12/8/2021 324 $77,100,000 N/A
Spectra Paradise Las Vegas, NV Multifamily 3/1/2022 205 $22,500,000 N/A
Total       2,148 $320,725,000  

The above bios and track record were provided by Prism Multi Family Group and have not been independently verified by RealtyMogul.

Business Plan

Flats at 2030 is a value-add property totaling 237 units located in the West submarket of Phoenix. The Property experienced a fire and roof collapse in the last year and a half, and ownership has had to offer significant discounts and concessions to get occupancy into the mid-80 % range. The rental rates achieved at the asset over the past 60-days have been 10.16% over the current in-place rents (without factoring in new rents receiving 1 month free as a move-in concession), so there is room for natural rent growth. 

The plan is to burn off the existing loss-to-lease, taper off the move-in concessions, and increase the occupancy from the current 81.4%. The Sponsor also plans on renovating 50% of the remaining unrenovated units (59 units to be renovated) at an average of $7,700/unit. The Sponsor will also have a $1,000,000 common area CapEx budget for projected roof section replacements, as well as any contingencies required throughout the Property. The Sponsor expects to achieve market rent growth of 3% annually throughout. The deal is a 5-year projected hold.

Budget

Acquisition Cost Total Amount Per Unit
Purchase Price $37,000,000 $156,118
Closing Costs $317,500 $1,340
Mortgage Brokerage Fee $222,000 $937
Total Acquisition Costs $37,539,500 $158,395
     
Capital Expenditures    
Unit Renovations (59 units) $453,760 $1,915
Property-Wide CapEx $1,000,000 $4,219
Total Capital Expenditures $1,453,760  
     
Grand Total $38,993,260 $164,529
Property
Property Details

The Sponsor is acquiring the asset at an exceptional basis ($156k/unit) due to the Property's significantly below market rents. Two years ago, the Property experienced a fire and roof collapse in one of the buildings. While the Property has been fully repaired, the fire led to a distressing situation where the current owner was forced to offer significant pricing discounts and concessions, and occupancy dipped to 81%. Prism will institute a strategic multi-pronged value-add plan to increase occupancy, end concessions, and bring rents in line with the current market.

Unit Mix

  # of Units Avg SF/Unit Avg Rent  Rent PSF Stab Rent Rent PSF
Studio 107 409 $964 $2.36 $1,057 $2.58
1 Bed/1 Bath 128 575 $1,151 $2.00 $1,238 $2.15
2 Bed/1 Bath 2 700 $1,500 $2.14 $1,500 $2.14
Total/Averages 237 501 $1,070 $2.13 $1,298 $2.59
Comparables

Lease Comparables

  Sandpainter Apartments Urban 188 GC Square The Villages at Metro Center 2025 West Apartments U at 19th Apartments Comp Averages Flats at 2030
Address 2225 West Indian School Rd, Pheonix, AZ, 85015 1601 West Camelback Rd, Phoenix, AZ, 85015 3535 West Camelback Rd, Phoenix, AZ, 85019 3106 West Vogel Ave, Phoenix, AZ, 85051 2025 W Indian School Road, Phoenix, AZ 85015 4802 N 19th Avenue, Phoenix, AZ 85015   2030 West Indian School Rd, Phoenix, AZ 85015
Year Built 1978 1970 1976 1979 1973 1973   1971
Units 116 188 165 290 280 236 212 237
Average Rental Rate $1,340 $1,092 $1,078 $1,116 $1,149 $1,547 $1,244 $1,070
Average SF 580 506 438 770 476 877 623 504
Average $/SF $2.31 $2.16 $2.46 $1.45 $2.41 $1.76 $2.00 $2.20
# Units (Studio) 24 92 112 24 128 N/A 76 107
$ (Studio) $1,185 $1,030 $850 $906 $1,220 N/A $1,038 $964
SF (Studio) 379 470 405 400 380 N/A 410 410
$/SF (Studio) $3.13 $2.19 $2.10 $2.27 $3.21 N/A $2.53 $2.35
# Units (1x1) 64 96 52 121 144 20 83 128
$ (1x1) $1,485 $1,150 $1,025 $1,035 $1,355 $1,395 $1,241 $1,151
SF (1x1) 700 540 510 575 540 677 571 575
$/SF (1x1) $2.12 $2.13 $2.01 $1.80 $2.51 $2.06 $2.17 $2.00
# Units (2x1) 20 N/A N/A 96 4 30 38 2
$ (2x1) $1,650 N/A N/A $1,177 $1,585 $1,650 $1,516 $1,500
SF (2x1) 829 N/A N/A 835 866 925 853 700
$/SF (3x2) $1.99 N/A N/A $1.41 $1.83 $1.78 $1.78 $2.14
Distance to Subject 0.2 miles 1.6 miles 2.7 miles 6.5 miles 0.1 miles 1.3 miles 2.1 miles  

 

Sales Comparables

  Sandpainter Apartments Urban 188 GC Square The Villages at Metro Center Total/Averages Flats at 2030
Date Apr '22 Jan '22 Mar '22 Apr '22   Oct '22
Submarket Pheonix Pheonix Pheonix Pheonix   Pheonix
Year Built 1978 1970 1976 1979 1976 1971, Renov 2018
SF 67,180 95,080 72,335 223,080 114,419 119,448
Units 116 188 165 290 190 237
Average SF 580 506 438 770 574 501
Sale Price $27,000,000 $35,000,000 $31,000,000 $80,000,000 $43,250,000 $37,000,000
$/Unit $235,000 $186,170 $188,000 $275,862 $221,258 $156,118
$/SF $406 $317 $425 $359 $377 $311
Distance from Subject 0.2 miles 1.6 miles 2.7 miles 6.6 miles 2.2 miles  
Location

Market Overview

Population growth, a diversifying economy, relative affordability, and business-friendly regulation have strengthened the Phoenix value proposition. Corporate taxes are minimal, local infrastructure provides access to national and international markets, and the city’s numerous colleges and universities provide companies with an educated talent pool. As a result, dozens of businesses have moved to Phoenix. Digital technology, financial services, aerospace, defense, electronics ‒ the city’s capital investment is staggering, and its job opportunities have skyrocketed, drawing in hundreds of workers eager to grow their careers.

Despite the robust population growth over the past several years, single-family development has not kept pace, and pricing has soared. Phoenix has been a top market for home price appreciation for the past few years. This low inventory and unwavering price escalation continues to force some would-be homeowners into the renter pool, leading to record-low vacancy rates and accelerated rent growth, even as the market receives a record level of new supply. Less than 10% of communities are offering concessions, down from 25% one year ago.

Investors are taking notice; Phoenix has become one of the top markets in the nation for investment volume, ahead of core markets including New York and Los Angeles (CoStar). About $17.8 billion worth of apartments has traded in Phoenix in the past 12 months. Sales volume in 2021 hit an all-time annual high and ranked second in the U.S. behind Atlanta. Key economic drivers, capital investments, and a growing amenity base will continue to generate housing demand in the submarket.

Submarket Overview

The Property is situated between Downtown Phoenix and the burgeoning Grand Canyon University. Significant employers within 11 minutes of the Property include Grand Canyon University, Kenyon Plastering Inc., and Empire Power Systems. Those are in addition to the numerous companies located in Midtown, Downtown, and the Camelback Corridor, including Banner Health, St. Joseph’s Hospital, U-Haul International, Wells Fargo, JP Morgan Chase, and Phoenix Children’s Hospital. The light rail began operation in 2008. With 20 stops in the submarket, residents have easy access to Uptown, Phoenix Sky Harbor Airport, and parts of the East Valley. It has also attracted new businesses.

Photos
Financials
Sources & Uses

Total Capitalization

Sources of Funds $ Amount $/Unit
Debt $27,750,000 $117,088
GP Investor Equity(1) $1,400,000 $5,907
LP Investor Equity $10,600,000 $44,725
Total Sources of Funds $39,750,000 $167,722
     
Uses of Funds $ Amount $/Unit
Purchase Price $37,000,000 $156,118
Closing Costs $317,500 $1,340
Reserves for Prog Capital Exp $1,453,760 $6,134
Loan Closing Costs $222,000 $937
Funding of Reserves $201,740 $851
Acquisition Fee $555,000 $2,342
Total Uses of Funds $39,750,000 $167,722

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

Debt Assumptions

The expected terms of the debt financing are as follows:

  • Lender: New York Community Bank
  • Term: 5 years (+5 year extension option)
  • LTV: 75.0%
  • Estimated Proceeds: $27,750,000
  • Interest TypeFixed
  • Annual Interest Rate: 4.95%
  • Interest-Only Period: 2 years
  • Amortization: 30 years
  • Prepayment Terms: 5% year 1, 4% year 2, 2% year 3, 1% thereafter
  • Extension Requirements: None
  • Modeled Refinance: No

(1) A substantial portion of the total acquisition for the Property will be paid with borrowed funds, i.e., debt.  Please carefully review the Disclaimers section below for additional information concerning the Sponsors use of debt. 

Distributions

Prism Multi Family Group intends to make distributions from Prism ISR LP as follows:

  1. To the Investors, pari passu, all operating cash flows to an 8.0% IRR;
  2. 80% / 20% (80% to Investors / 20% to Promoted/Carried Interest) of excess cash flow to a 12.0% IRR;
  3. 70% / 30% (70% to Investors / 30% to Promote/Carried Interest) of excess cash flow thereafter.

Prism Multi Family Group 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 June 2023 and are projected to continue on a quarterly basis thereafter. Distributions are at the discretion of Prism Multi Family Group, who may decide to delay distributions for any reason, including maintenance or capital reserves.

Prism Multi Family Group will receive a promoted/carried interest as indicated above.

Cash Flow Summary  
    Year 1 Year 2 Year 3 Year 4 Year 5  
Effective Gross Revenue   $3,380,560 $3,757,522 $3,996,839 $4,111,574 $4,229,648  
Total Operating Expenses   $1,230,756 $1,287,239 $1,329,654 $1,357,291 $1,385,512  
Capital Reserves   $59,250 $61,620 $63,469 $64,738 $66,033  
Net Operating Income   $2,090,554 $2,408,663 $2,603,716 $2,689,545 $2,778,103  
               
Project-Level Cash Flows  
  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5  
Net Cash Flow ($12,000,000) $802,247 $984,638 $775,862 $861,691 $28,843,518  
               
RM Platform Investor-Level Cash Flows(1)  
  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5  
Net Cash Flow ($3,159,629) $170,562 $216,160 $163,966 $185,423 $6,133,230  
               
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) $2,699 $3,421 $2,595 $2,934 $97,056  

(1) RM Technologies, LLC and its affiliates do not provide any assurance of returns.  Returns presented are net of all fees.  Please carefully review the Fees and Disclaimers sections below for additional information concerning Sponsor’s use or projected returns and fees paid to Sponsor and RM Technologies, LLC.

 

Fees

Certain fees and compensation will be paid over the life of the transaction; please refer to Prism Multi Family Group's materials for details. The following fees and compensation will be paid(1)(2):

One-Time Fees:
Type of Fee Amount of Fee Received By Paid From
Acquisition Fee 1.5% of Purchase Price ($555,000) Prism Multi Family Group Escrow at Closing
Technology Solution Licensing Fee(2) Flat one-time licensing fees of $15,000 plus $1,500 per each prospective investor onboarded by Sponsor through its license and use of RM Technologies’ Technology Solution RM Technologies, LLC

Capitalization (at Sponsor’s discretion)

       
Recurring Fees:
Type of Fee Amount of Fee Received By Paid From
Asset Management Fee 1.5% of Gross Receipts Prism Multi Family Group Prism ISR LP
Administration Solution Licensing Fee(2) Flat quarterly licensing fee of $125 per investor serviced by Sponsor through the license and use of  RM Technologies’ Administration Solution RM Technologies, LLC Cash Flow

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

(2) Please see the Fees and Disclaimers sections below for additional information concerning fees paid to RM Technologies, LLC.

.

Disclaimers/FAQs
Disclaimers

Sponsor’s Projects and Targets

*Assumptions and projections included in the information on this Page, including pro forma projections (collectively “Projections”) were provided by the Sponsor or an affiliate thereof and are not reflective of the position or opinions of, nor are they endorsed by, RM Technologies, LLC or its affiliates, or any other person or entity other than the Sponsor or its affiliates.  RM Technologies, LLC and its affiliates do not provide any assurance of returns or the accuracy or reasonableness of the Projections provided by 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 Projections and 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 Projections and Targets are not a predictor, projection or guarantee of future performance.  There can be no assurance that the Sponsor’s Projections or Targets will be met or that the Sponsor will be successful in meeting these Projections and Targets.  Projections and Target returns should not be used as a primary basis for an investor’s decision to invest.

No Approval, Opinion or Representation, or Warranty by RM Technologies, LLC or it Affiliates

The information on this Page, including the Sponsor’s offering documentation, which may include without limitation the Private Placement Memorandum, Operating or Limited Partnership Agreement, Subscription Agreement, the Project Summary and all exhibits and other documents attached thereto or referenced therein (collectively, the “Investment Documents”) was provided by the Sponsor or an affiliate thereof.  RM Technologies, LLC makes no representations or warranties as to the accuracy of such information and accepts no liability therefor.  No part of the information on this Page is intended to be binding on RM Technologies, LLC or its affiliates, or to supersede any of the Sponsor’s Investment Documents.  The opinions expressed on this page are solely the opinions of the Sponsor and its affiliates and none of the opinions expressed on this Page are the opinions of, nor are they endorsed by, RM Technologies, LLC or its affiliates.

Sponsor’s Information Qualified by Investment Documents

The Information 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 Investment Documents.  The information 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 information 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 information on this Page and the Investment Documents, investors should rely on the information contained in the Investment Documents.  The information on this Page and the information in the Investment Documents are subject to last minute changes up to the closing date at the sole discretion of the Sponsor and its affiliates.

Risk of Investment

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.

Risk of Forward-Looking Statements

Forward-looking statements are found here and in the applicable Investment Documents and may include words like “expects,” “intends,” “anticipates,” “estimates” and other similar words. These statements are intended to convey the Project Sponsor’s projections or expectations as of the date made. These statements are inherently subject to a variety of risks and uncertainties. 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.

Sponsor’s use of Debt

A substantial portion of the total acquisition for the Property will be paid with borrowed funds, i.e., debt.  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 the annual interest rate and possible increases in capital reserve requirements for funds to be held in a lender-controlled capital reserve account. 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.

In addition, unless the debt provides for a fixed rate of interest during the term of the loan and/or any subsequent extensions, the total amount of interest paid over the term of the debt will increase by the same amount as the related index. For example, if the index rate increases by 0.50% (50 basis points) the interest rate on the loan will increase by the same amount. The amount of such interest rate increases may be capped either by its terms or as the result of the Sponsor entering into an arrangement that caps the interest rate with respect to the debt at a particular rate.

Sponsor’s Offering is Not Registered

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 Fees and Conflicts

RM Technologies, LLC, an affiliate of RealtyMogul, operates the RealtyMogul Platform.  RM Technologies, LLC charges a fixed, non-percentage-based licensing fee for real estate companies and their sponsors to license and use the RM Technologies LLC’s proprietary Platform, including one-time flat licensing fees for its Technology Solution and an ongoing quarterly flat licensing fees for its Administration Solution.  An estimate of the Technology Solution licensing fee is included in the Closing Costs above and is intended to be capitalized into the transaction at the discretion of the Sponsor.  The licensing fees received by RM Technologies, LLC are disclosed in the relevant operating agreement(s). Additionally, from time to time, employees of RM Technologies, LL C and its affiliates invest in Sponsor’s offering.  RM Technologies LLC’s receipt of licensing fees and its employee’s investments in Sponsor’s offering creates a conflict of interest between RealtyMogul and its affiliates, and investors or prospective investors.

No Investment Advice

RealtyMogul and RM Technologies, LLC are 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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