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Retail
Safeway & CVS Retail Center
Prunedale, CA
Completed Equity
100% funded
...
Safeway & CVS Retail Center
Prunedale, CA
All Investments > Safeway & CVS Retail Center
...
Overview
Safeway & CVS Retail Center
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Details
For more information, view the Sponsor's Investment Memorandum.
Estimated Hold Period 3 to 5 years
Investment Strategy Value-Add
Investment Type Equity
Sponsor Documents
The offering documents above have been prepared and are being delivered by the Sponsor of this investment opportunity, and not by RM Securities, LLC. RM Securities, LLC and its associated persons did not assist in preparing, do not explicitly or implicitly adopt or endorse, and are not otherwise responsible for, the Sponsors offering documents posted below or any content therein.
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Management
For more information, view the Sponsor's Investment Memorandum.
U.S. Realty / JG Managment / Zenda

In the acquisition of the Prune Tree Shopping Center, Realty Mogul will be partnering with established real estate players in the market, specifically, JG Management Inc, US Realty Partners and Zenda Properties. The property was put under contract by U.S. Realty Partners & JG Management Inc.  All four companies, U.S. Realty Partners, JG Management, Zenda Properties and Realty Mogul will play an active role in the asset management of the property.  While U.S. Realty Partners and JG Management will oversee the day-to-day operations, Realty Mogul and Zenda Properties will actively participate as Co-Owners. The Co-Owners will enter into an Operating Agreement pursuant to which U.S. Realty Partners & JG Management Inc. will act as the local Managing Partner handling all day-to-day operations and will be required to report regularly to Zenda Properties and Realty Mogul. All four entities will perform full asset management function and will be required to consent to all major decisions including the decision to sell or refinance the property.

U.S. Realty Partners ("USRP") is a real estate investment company specializing in the acquisition, asset management, development and redevelopment of high quality retail properties located in strategic metropolitan areas of the western United States.

USRP focuses on anchored retail properties in markets with strong demographics, high barriers to entry, and achieve competitive risk adjusted returns for our investors and partners. Their team takes pride in our vast shopping center experience, extensive market knowledge, disciplined underwriting and excellent history of efficient execution.

JG Management ("JGM") is a Los Angeles-based commercial real estate and asset management firm established in 1983 with a focus on investing in shopping centers, medical and general office buildings, flex office, hotels and single-user buildings nationwide. JGM is a closely held private company that provides high quality services in the areas of finance, leasing, property management, accounting and construction management. Their strong track record results from many years of experience, sound management decisions and long-term relationships with major financial institutions, brokers, tenants, vendors and investors. They continue to maintain our professional relationships through regular involvement in the International Council of Shopping Centers (ICSC).

JG Management's current portfolio consists of four million square feet of commercial real estate that spans across seven states, including over 660 hotel rooms. 

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Zenda Properties ("Zenda"), based in Montreal, Quebec, was formed by Gerald Levy in 1992. Gerald Levy is also a lawyer, licensed to practice in both the province of Quebec and the state of Arizona. Over the last twenty years, Zenda has earned a successful track record in all facets of commercial office, retail and industrial real estate development and management.  Mr. Levy has over 30 years of experience as owner, manager and advisor, both in Canada and the United States. 

Zenda was formed to invest in and manage real estate in its own name, with partners and with investors. They have developed extensive expertise in establishing and managing co-investment relationships.  

Zenda has the experience and acumen required to deal with the cyclical nature of the real estate market. Whether the issue is a potential investment or finding a solution to an existing real estate problem, Zenda has the necessary hands-on expertise and tools to take the right course of action.  The experience gained as owners, developers, investors, lawyers, managers and consultants gives Zenda a unique perspective and a broader viewpoint of real estate issues and opportunities. 

Management Team
Management
Jay Kerner - CEO of U.S. Realty Partners

Jay Kerner is the CEO of U.S. Realty Partners, a regional commercial real estate operating company and consulting firm focused on high quality properties in California and Arizona. He has over twenty seven years of experience in the acquisition, operation, development, leasing and management of retail, multi-family, office and mixed use properties.

Mr. Kerner was formerly Regional Director of Capital and Counties, U.S.A., a privately held real estate investment trust with 2.5 million square feet of retail, office, multi-family and mixed use properties organized as a subsidiary of Capital Shopping Centre Group, London (a publicly traded FTSE 100 company; CSCG.L). In addition to his duties overseeing acquisitions, dispositions, financing, and operations, he was a key executive involved in the sale of the company to Equity One (NYSE; EQY) in 2011 for more than $600 million. Prior to that, he was Senior Director of Acquisitions for Federal Realty Investment Trust, a public REIT with more than 19 million square feet of high quality mixed use and retail properties in the best markets in the U.S. (NYSE: FRT). Mr. Kerner was also President of Kerner Management and Investments, a regional shopping center operator and developer, for more than 10 years. Over his career, he has been personally involved in more than $1 billion in commercial real estate projects.

Mr. Kerner is a graduate of UCLA with a degree in Business & Economics. He is a member of the International Council of Shopping Centers and has served as a speaker at past events. In addition, his is a licensed California Real Estate Broker and General Contractor. Mr. Kerner is also the author of Chasing Yield: an Individual Investor’s Guide to Passive Commercial Real Estate Investments.

Management
Greg Greenstein - President of JG Management
Greg Greenstein has over 31 years of experience in the acquisition, development, operation, leasing and management of commercial properties including shopping centers, medical buildings, office buildings, industrial properties, hotels and marinas. Mr. Greenstein is the President of JG Management Co., Inc., a privately held real estate investment firm providing asset and property management services. JG Management specializes in acquisition, development and management of retail centers, office buildings, industrial centers, hotels and several varieties of single user properties throughout the United States, currently consisting of over 4 million square feet. 
Management
Gerald Levy - President of Zenda Properties
Gerald E. Levy is an attorney licensed to practice in the Province of Quebec and in the State of Arizona.  Gerry has been practicing law in Quebec and Arizona, specializing in real estate, since 1977. Gerry moved from Tucson, Arizona to Montreal, Quebec in 1986 and joined Canderel Ltd., a real estate development company, as Legal Counsel and Vice-President responsible for the administration of its Montreal operations. In 1992, Gerry began to provide consulting expertise to various individuals and corporations and other professionals in the field of real estate, marketing and general business administration. In addition, Gerry created several partnerships to acquire, develop and manage real estate projects in the United States and Canada.
Management
William Levy - Vice President of Zenda Properties
William graduated with a Bachelor of Commerce from McGill University in 1999. He spent much of the next 3 years working part-time for Zenda assisting in the creation of Zenda Properties G.P. and aiding in the acquisition of Zenda’s first properties. In 2003, William graduated from York University’s Schulich School of Business with an M.B.A. specializing in Real Estate Finance and Investment. In January 2004, William joined Zenda on a full-time basis as the company’s Financial Analyst. Since 1999, William has been intricately involved in all aspects of real estate investing and ownership, including acquisitions, development, property management, and dispositions. During that time Zenda has bought, developed, managed, and sold almost $100 million of commercial real estate.
Property
For more information, view the Sponsor's Investment Memorandum.
Address: 17533-17643 Vierra Canyon Road
Prunedale, California 93907
Year Built: 1989
Current Occupancy: 75.0%
Net Rentable Area: 133,600 square feet
Parking: 570 spaces or approximately 4.3 spaces per 1,000 square feet of leaseable area
Street Frontage: 675 feet of frontage along Highway-101 and 900 feet along Vierra Canyon Road
Daily Traffic Count Highway-101 at Vierra Canyon Road: 83,700
Highway-156 at Highway-101; 28,000
Total: 111,700
Current Rent Roll
TENANT NAME SQUARE FOOTAGE CURRENTLY LEASED
Safeway 35,722
CVS Pharmacy 31,472
Normas Restaurant 4,488
McDonald's 4,313
Auto Zone 3,381
Coldwell Banker America 3,032
J.V. Liquor & Deli 2,668
Panda Garden 2,127
Starbucks 1,425
Verizon Wireless 1,340
Diggity's 1,290
Cottage & Castle Real 1,279
Master Cleaners 1,226
Sunshine Donuts 1,206
Subway 1,072
All About Me Tan 1,039
The Income Statement 1,026
All The Right Steps 1,009
Nails Art 1,005

Prune Tree Shopping Center was built in 1989 and is the dominant grocery-anchored shopping center in the area.  The Safeway at Prune Tree Shopping Center is the only competitive grocery in the trade area, with the closest national grocers located 6 miles to the south in Salinas. The only competitive grocer in the immediate trade area is Super Max Discount Foods, which is not a direct competitor with Safeway.

The property features a pylon sign visible from the freeway and 675 feet of frontage along Highway-101 and a 4-way signalized interchange for easy access to the property. 

The retail buildings are woodframed structures with load-bearing, steel columns which support the upper floors and roofs. The exterior walls are finished with painted wood siding, and portions of the exterior walls are accented with stone masonry or concrete masonry units. The primary roofs are classified as flat roofs. The roofs are finished with an elastomeric, roofing membrane and insulated with fiberglass batts. The secondary roofs are classified as a sloped roofs and are finished with asphalt composition shingles over asphalt-saturated paper. These sections of roof are not insulated and have sheet metal flashing elements.

Financials
For more information, view the Sponsor's Investment Memorandum.
Disclosures
RM Securities, LLC and its Affiliates Compensation

RM Securities, LLC, its registered representatives, affiliates, associated persons, and personnel of its affiliates who may also be associated with it, including our associated persons and personnel of our affiliates who are also be associated with RM Securities, LLC (it (“RM Securities,” “we,” “our,” or “us”) will receive fees, expense reimbursements, and other compensation (“Fees”) from the issuer of this investment offering, its sponsor, or an affiliate thereof (“Sponsor”), or otherwise in connection with Sponsor’s offering. The Fees paid to us are in addition to other fees you will pay to Sponsor or in connection with Sponsor’s investment offering. You will pay Fees to Sponsor, either directly or indirectly as an investor in the Sponsor’s offering. Sponsor will use the Fees you pay, as well as funds you invest in the relevant offering, to compensate us. The Fees paid to us will directly or indirectly be borne by you as the investor (typically, but not always, in the form of an expense of the Sponsor’s offering in which you invest) because such Fees will reduce the proceeds available for distribution to you and reduce the amount you earn over time.

For more information on the Fees paid to us, or any other Fees you will pay in connection with Sponsor’s offering, please carefully review the Sponsor’s Investment Documents. Please also carefully review RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

No Approval, Opinion or Representation, or Warranty by RM Securities, LLC

Sponsor has provided, approved, and is solely responsible in all aspects for the information on this webpage (“Page”), including 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”). The Investment Documents linked on this page have been prepared and posted by Sponsor, and not by RM Securities. We did not assist in preparing, do not adopt or endorse, and we are not otherwise responsible for, the Sponsor’s Investment Documents. We make no representations or warranties as to the accuracy of information on this Page or in the Sponsor’s Investment Documents and we accept no liability therefor. No part of the information on this Page or in the Sponsor’s Investment Documents is intended to be binding on us.

Sponsor’s Information Qualified by Investment Documents

The information on this Page 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 subject to change at the Sponsor’s discretion at any time up to the closing date. The Sponsor’s Investment Documents and supplements thereto contain important information about the Sponsor’s offering including relevant investment objectives, the business plan, risks, charges, expenses, and other information, which you should consider carefully before investing. The information on this Page should not be used as a basis for an investor’s decision to invest.

Risk of Investment

This investment is speculative, highly illiquid, and involves substantial risk. There can be no assurances that all or any of Sponsor’s assumptions, expectations, estimates, goals, hypothetical illustrations, or other aspects of Sponsor’s business plans (“Assumptions”) will be true or that actual performance will bear any relation to Sponsor’s Assumptions, and no guarantee or representation is made that Sponsor’s Assumptions will be achieved. If Sponsor does not achieve its Assumptions, your investment could be materially and adversely affected. 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. Sponsor’s Assumptions should not be relied upon as the primary basis for your decision to invest.

No Reliance on Forward-Looking Statements; Sponsor Assumptions

Sponsor is solely responsible for statements made concerning forward-looking statements and Assumptions, which apply only as of the date made, are preliminary and subject to change, and are expressly qualified in their entirety by the disclosures and cautionary statements included in Sponsor’s Investment Documents, which you should carefully review. Neither RM Securities nor Sponsor are obligated to update or revise such forward-looking statements or Assumptions to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Sponsor’s forward-looking statements and Assumptions are hypothetical, not based on actual investment achievements or events, and are presented solely for purposes of providing insight into the Sponsor’s investment objectives, detailing Sponsor’s anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of actual results; therefore, they are not a predictor, projection, or guarantee of future results. You should not rely on Sponsor’s forward-looking statements as a basis to invest.

Importantly, we do not adopt, endorse, or provide any assurance of returns or as to the accuracy or reasonableness of Sponsor’s Assumptions or forward-looking statements.

No Reliance on Past Performance

Any description of past performance is not a reliable indicator of future performance and should not be relied upon as the primary basis to invest.

Sponsor’s Use of Debt

A substantial portion of the total cost of the real estate asset acquired by the Sponsor with investor funds (“Property”) will be paid with borrowed funds, i.e., debt. Sponsor’s estimated rates and terms of the debt financing are subject to lender approval, and there is no assurance that the Sponsor will secure debt at the rates and terms presented on this Page or in the Sponsor’s Investment Documents, or at all. The use of borrowed money to acquire real estate is referred to as leveraging, which can amplify losses and could result in lender foreclosure. In addition, if the debt includes a variable (or “floating”) interest rate, the total amount of interest paid over the term of the debt will fluctuate and can increase. As a result, Sponsor’s use of debt can result in a loss of some or all of your investment.

Sponsor’s Offering is Not Registered

Sponsor’s securities offering 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 offering will not be registered under any state securities laws in reliance on exemptions from state registration. Such securities (your ownership 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 Platform are intended solely for “Accredited Investors,” as that term is defined in Rule 501(a) under the Securities Act.

No Investment Advice

Nothing on this Page should be regarded as investment advice (either with respect to 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 to understand and assess the risks associated with real estate or private placement investments. For additional information on RM Securities’ involvement in this offering, please carefully review the Sponsor’s Investment Documents, and RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

1031 Exchange Risk

Internal Revenue Code Section 1031 (“Section 1031”) contains complex tax concepts and certain tax consequences may vary depending on the individual circumstances of each investor. RM Securities and its affiliates make no representation or warranty of any kind with respect to the tax consequences of your investment or that the IRS will not challenge any such treatment. You should consult with and rely on your own tax advisor about the tax aspects with respect to your particular circumstances.

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