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.
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.
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.
We have robust quality controls with detailed checklists and a review of third-party reports.
Birge & Held Asset Management
Birge & Held is a national apartment real estate, private equity and investment firm located in Carmel, Indiana. In an effort to take advantage of strategic real estate acquisition opportunities in the distressed real estate marketplace, J. Taggart Birge and Andrew J. Held started what is now Birge & Held in 2008. Birge & Held has acquired and managed over $400,000,000 in multi-family assets across the country and currently employs over 80 professionals, per the Sponsor. Through private equity and creative debt structures, Birge & Held continues to grow its portfolio of assets. For capital investors who seek to identify and pursue apartment real estate opportunities, Birge & Held provides an experienced operating partner.
http://www.birgeandheld.com/Property Name | Location | Number of Units | Date Acquired | Total Cost Basis |
Aurum | Indianapolis, IN | 208 | 2/12/13 | $13,940,593 |
Beacon Hill Apartments | Indianapolis, IN | 14 | 4/1/13 | $1,000,000 |
Clinton Estates | Indianapolis, IN | 184 | 7/1/13 | $13,553,680 |
College Court Condominiums | Frankfort, IN | 48 | 11/25/13 | $1,800,000 |
Cypress Square Apartments | Indianapolis, IN | 188 | 3/27/14 | $12,350,000 |
Eagle Creek Apartments | Muncie, IN | 67 | 4/25/14 | $5,279,925 |
Echo Ridge Apartments | Muncie, IN | 36 | 4/25/14 | $2,376,609 |
Elston Point Apartments | Elkhart, IN | 76 | 10/16/14 | $3,550,000 |
English Village Apartments | Elkhart, IN | 95 | 10/16/14 | $3,300,000 |
Greenleaf Hunter's Pond Apartments | Indianapolis, IN | 208 | 10/22/14 | $8,600,000 |
Kensington/Chesterfield | South Bend, IN | 60 | 11/7/14 | $6,000,000 |
Parc Bordeaux Apartments | Bloomington, IN | 62 | 11/7/14 | $4,000,000 |
Pheasant Run Apartments | Indianapolis, IN | 208 | 12/9/14 | $8,700,000 |
Railway Manor | Bloomington, IN | 32 | 8/31/15 | $3,575,000 |
Regency Park | Indianapolis, IN | 632 | 9/18/15 | $45,000,000 |
The Arbors | Bloomington, IN | 24 | 10/6/15 | $2,732,000 |
The Oaks of Eagle Creek Apartments | Indianapolis, IN | 304 | 12/22/15 | $15,322,000 |
Walnut Springs Apartments | Lafayette, IN | 62 | 1/19/16 | $3,882,000 |
Woodwind Apartments | Lafayette, IN | 44 | 1/28/16 | $2,220,000 |
The Villager | Centerville, OH | 276 | 2/19/16 | $22,900,000 |
Chesapeake Landing | Centerville, OH | 256 | 4/28/16 | $22,110,000 |
Beechmill Apartments | Indianapolis, IN | 256 | 5/6/16 | $19,175,000 |
Trails at Lakeside Apartments | Indianapolis, IN | 208 | 9/8/16 | $18,100,000 |
Lakeshore Apartments | Indianapolis, IN | 740 | 9/15/16 | $84,900,000 |
Cross Creek Apartments | Indianapolis, IN | 208 | 1/9/17 | $14,725,000 |
Total | 4,496 | $339,091,808 |
Property Name | Location | Number of Units | Date Acquired | Total Cost Basis | Sale Price |
Harborview Condominiums | San Diego, CA | 81 | 3/1/09 | $20,406,491 | $22,000,000 |
Bear Valley Apartments | San Diego, CA | 24 | 11/8/10 | $4,200,000 | $4,900,000 |
Walnut Manor Apartments | Muncie, IN | 120 | 11/30/11 | $2,471,700 | $4,850,000 |
Centro Apartments | San Diego, CA | 60 | 12/19/11 | $11,213,764 | $15,800,000 |
Palm Valley Apartments | Goodyear, AZ | 264 | 4/1/12 | $22,925,000 | $27,200,000 |
Fox Brook Apartments | Muncie, IN | 41 | 4/2/12 | $1,275,000 | $1,900,000 |
Total | 590 | $62,491,955 | $76,650,000 | ||
Total Currently Owned and Sold | 5,086 | $401,583,763 | $76,650,000 |
*Performance information provided by the Sponsor