The team at our affiliated broker-dealer, RM Securities, conducts diligence on of the issuer, including detailed background checks, criminal checks, bad actor checks, and reference checks on sponsors. In addition to screening for any criminal background, we may also turn down sponsors due to poor reference checks, even if the background and criminal checks are satisfactory.

Escrow accounts

We require unaffiliated sponsors to use an unaffiliated third-party escrow agent.* When an investor makes an investment with such 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 contingency 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.

* Unless otherwise disclosed, escrow accounts are not required for some investments that accommodate 1031 investments where the property is already acquired.

Boots on the ground

Our processes typically includes visiting certain properties (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. For certain properties that accommodate 1031 exchange investments, the team will review third-party prepared due diligence reports in lieu of a site visit.

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Confidentiality Agreement
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Estimated Hold Period 4 Years
Estimated First Distribution 11/2023
View Our Due Diligence Process
Offered By
RM Communities
Investment Strategy Value-Add
Investment Type Equity
Minimum Investment 20000
Brookside Apartments is a 1986 built, 68-unit multifamily value-add opportunity in a highly desirable submarket within the Raleigh MSA.

Raleigh is one of the fastest growing metros in the U.S. and is projected to be the second fastest-growing large city in the U.S. between 2015 and 2030, according to the United Nations Population Division. The property is exceptionally located inside the I-440 Beltline in the highly rated Mordecai Historic District, situated minutes from Downtown Raleigh in a neighborhood where single-family homes are listed as high as $1.6 Million. Research Triangle Park includes 300+ employers and $2.7B in combined annual employee salaries. Lauded as the center of scientific innovation, Research Triangle Park is the largest high technology research and science park in North America.


Within a two-mile radius of the property, the average household income is just under $100,000, providing an extremely affordable housing option in the market. Post-renovation target rents of $1,426 offer a 17.1% rent to income ratio. This is also an affordable price point in relation to the rest of the Raleigh MSA, as the average market rent in Raleigh is $1,561. The property is extremely well positioned to harness the tremendous rent and income growth in the Raleigh MSA while providing an economic alternative to much more expensive Class A product in the neighboring Downtown Raleigh submarket.


Brookside is uniquely positioned for immediate upside through the implementation of interior upgrades and refreshing the exterior envelope. The business plan is to spend approximately $13,500 per classic unit to upgrade appliances, flooring, countertops, and cabinetry. All units feature laundry connections and will receive new W&D appliances in each unit. In addition to the favorable acquisition cost basis, the business plan also includes an exterior refresh with conversion of the existing laundry facility to a fitness center to improve overall desirability and tenant experience. 

Property at a glance
# of Units 68
Year Built 1986
Current Occupancy 96%
Market Raleigh MSA
Class B
Acquisition Price $9,400,000
Investment Highlights
The value-add business plan includes beautifying and modernizing the property’s exterior in addition to renovating the interiors of 31 classic units to position the property to compete with nearby comparable assets. The renovation plan also includes adding in-unit laundry appliances to every unit, which will allow conversion of the existing onsite laundry facility to a fitness center.
Based on comparable analysis and existing rent trends in the market, the value-add plan is projected to yield renovation premiums of $200-$300/mo.
The region boasts a diverse, innovation-based economy anchored by world-class universities, well-managed state and local governments, and operations of many of the nation’s leading technology, biotechnology, pharmaceutical, and healthcare firms.
Downtown Raleigh (four minutes, 45,000+ employees) provides endless destination amenities such as multiple James Beard award-winning restaurants, high-end bars, and unique shopping. Major employers include Redhat and Citrix. Downtown Raleigh is a decade into a substantial economic and cultural boom, with more than $3B in economic development since 2005, driven by robust population and job growth.
The acquisition financing is a lower-leverage 65.0% loan-to-cost ratio with a fixed rate of interest that is already locked, both of which we believe should reduce the investment risk relative to higher leverage projects – particularly those using floating rate debt.
As a result of the relatively affordable rents relative to incomes in the area, the acquisition financing also qualifies for mission-driven pricing, which improves investor yield.
One of the hottest multifamily markets in the nation, Raleigh’s rents have been steadily and reliably climbing an average 4.9% annually over the last ten years.
The continued growth within the Downtown Raleigh market and the addition of new developments in the Glenwood South, Hillsborough Street and Peace Street corridors should continue to drive exceptional growth within the market.
The area’s growth, along with broad based employment gains in the pharmaceutical, technology and biotechnology industries, continue to attract out-of-state capital to the “Research Triangle” market.
The growth potential of the market, coupled with the upside value-add opportunity offered by Brookside Apartments, provides a compelling basis for this investment opportunity.
Cumulative Distributions

RM Communities

RM Communities is a sister-company to RealtyMogul, one of the leading real estate technology platforms. RM Communities is an owner/operator of multifamily assets with a proprietary playbook to deliver strong risk-adjusted returns. RM Communities has grown its real estate portfolio to include nearly 2,000 multifamily units and over $325 million in real estate with a fully dedicated team of acquisitions, underwriting and asset management professionals.(1)

The RM Communities Multifamily 2023 First Quarter Review & Market Update

In this webinar, Todd Hanson, Managing Director of RM Communities, and his team discuss the real estate portfolio performance, observations from the first quarter, and their outlook for the remainder of 2023. This webinar also includes Todd’s thoughts on multifamily risks and opportunities and how best to navigate the current investment environment. Watch the Webinar

(1) References made to the RM Communities portfolio includes four properties that were acquired prior to the formation of RM Communities. Consequently, these assets are managed by an affiliate and are included as part of the RM Communities portfolio as a result of being acquired and managed by the same executive leadership and according to the same investment strategy employed by RM Communities. 

  • Todd Hanson
    Managing Director
  • Yacov Ronen
    Acquisitions Associate
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.  

Yacov Ronen
Acquisitions Associate

Yacov Ronen is an Acquisitions Associate for RM Communities supporting the direct acquisitions of multifamily opportunities in the Mountain West region of the United States and Texas. Prior to joining RM Communities, Mr. Ronen worked as an Associate at RealtyMogul where he was directly involved in $400M in acquisitions across various asset classes. He holds B.A. in Economics from University of California, Santa Barbara.

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, Net IRR of 18.5% (23.1% deal-level)
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
Ridgeline View Townhomes Vancouver, WA A 50 2022 $18,100,000 $37,500 Closed
Brookside Apartments Raleigh, NC B 68 1986 $9,400,000 $1,402,680 Pending
Total     2,099   $338,301,000 $24,451,029  

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.

In today’s environment, RM Communities is focusing on investing in growing markets anchored by national employers and prestigious education institutions with proven upside. Brookside Apartments represents such an opportunity. The property’s location is poised to benefit from the growing economic drivers of Downtown Raleigh, as it becomes an increasingly affluent location to call home. Coupled with an ideal location, being in mostly classic condition, the value-add business plan should position the asset to be a highly desirable community for those enjoying, working, and living in the Raleigh MSA.

To date, the seller renovated 37 units to a partial renovation scope, with all units renting far below the comparable set. As such, the business plan is to beautify the asset exterior to bolster curb appeal while renovating the remaining 31 classic units. The renovation plan should allow the asset to achieve competitive rents for the submarket.

The acquisition of the property is being financed with a seven-year, fixed-rate loan at 73.9% loan-to-value. Terms include two years of interest-only payments and a 5.83% interest rate. The business plan is to exit in four years at a projected 6.00% cap rate, well above today’s market cap rates. 

Capital Improvement Budget

Summary Total Per Unit  
Interior Upgrades $474,000 $6,971  
Exterior And Common Area $745,722 $10,966  
Construction Mgmt. Fee (5%) $60,986 $897  
Contingency (10%) $121,972 $1,794  
Total $1,402,680 $20,628  
Interior Upgrades Total Per Unit No. Units
Stainless Appliances $77,500 $2,500 31
Formica Counters $37,200 $1,200 31
Backsplashes $18,600 $600 31
Repaint Cabinets $23,250 $750 31
Bathroom Countertop + Cabinets  $40,300 $1,300 31
Plumbing Fixtures (Faucets, Showerhead)  $18,600 $600 31
Lighting $37,200 $1,200 31
Flooring $71,300 $2,300 31
Paint $37,200 $1,200 31
Blinds / Shutters $10,850 $350 31
Washers / Dryers $102,000 $1,500 68
Total $474,000 $13,500  
Exterior And Common Area Upgrades And Repairs Total Per Unit  
Fitness Center $45,000 $662  
Paint $91,990 $1,353  
Siding Repair $59,726 $878  
Parking Lot Repairs $14,379 $211  
Plumbing Pvc Replacement $306,000 $4,500  
Leasing Office Roof Repair $8,627 $127  
Deferred $120,000 $1,765  
Future Capex $78,000 $1,147  
Total $745,722 $10,966  
Property Information

Brookside Apartments is a 1986 built, 68-unit multifamily value-add opportunity in a highly desirable submarket within the Raleigh MSA.

Unit Mix

Type Units Unit SF Total SF In-Place Rent Stabilized Rent Rent / SF
Studio Classic 9 624 5,616 $1,063 $1,325 $2.12
Studio Partial 7 624 4,368 $1,057 $1,225 $1.96
1/1 Classic 11 760 8,360 $1,091 $1,450 $1.91
1/1 Partial 13 760 9,880 $1,117 $1,325 $1.74
1/1 Loft Classic 8 940 7,520 $1,228 $1,600 $1.70
1/1 Loft Partial 4 940 3,760 $1,225 $1,400 $1.49
2/2 Classic 3 1,023 3,069 $1,275 $1,700 $1.66
2/2 Partial 13 1,023 13,299 $1,317 $1,525 $1.49
Total 68 822 55,872 $1,164 $1,426 $1.74

Lease Comparables

Studio SF Stabilized Rent Per SF YOC
Brookside Apartments 624 $1,281 $2.05 1986
Anderson Hills 621 $1,385 $2.23 1989
Capital Flats 500 $1,200 $2.40 1982
Pines of Ashton 550 $1,250 $2.27 1972
Comp Average 557 $1,278 $2.30  
1 Bed / 1 Bath SF Stabilized Rent Per SF YOC
Brookside Apartments 760 $1,382 $1.82 1986
Anderson Hills 751 $1,495 $1.99 1989
Oberlin Court 720 $1,543 $2.14 2005
Capital Flats 540 $1,225 $2.27 1982
Pines of Ashton 800 $1,285 $1.61 1972
Comp Average 703 $1,387 $1.97  
1 Bed / 1 Bath Loft SF Stabilized Rent Per SF YOC
Brookside Apartments 940 $1,533 $1.63 1986
Anderson Hills 909 $1,610 $1.77 1989
Oberlin Court 1,010 $1,743 $1.73 2005
Pines of Ashton 850 $1,290 $1.52 1972
Comp Average 923 $1,548 $1.68  
2 Bed / 2 Bath SF Stabilized Rent Per SF YOC
Brookside Apartments 1,023 $1,558 $1.52 1986
Anderson Hills 1,151 $1,830 $1.59 1989
Mordecai on Clover (2x1.5) 1,000 $1,800 $1.80 1968
Oberlin Court 1,100 $1,747 $1.59 2005
Trails Corner Apartments (2x1) 1,000 $1,400 $1.40 1988
Pines of Ashton (2x1) 924 $1,395 $1.51 1972
Comp Average 1,035 $1,634 $1.58  


Sales Comparables

Property Name Submarket Name Property Address City Sale Date Sale Price Number Of Units Gross Building SF Price Per Unit Price Per SF Year Built Building Class
Brookside Apartments East Raleigh 1406 Brookside Dr Raleigh, NC 27604 6/2023 $9,400,000 68 55,872 $138,235 $168 1986 B
Trails Corner Apartments South Central 804-817 Mcmakin St Raleigh 1/11/2023 $9,975,000 67 53,560 $148,881 $186 1988 C
Pullen Station Lofts Pullen Park 211 Ashe Ave Raleigh 5/19/2022 $13,350,000 99 22,500 $134,848 $593 1984 C
Brentmoor Apartments Greater East Raleigh 2080 Brentmoor Dr Raleigh 12/1/2021 $52,250,000 228 200,640 $229,167 $260 2003 B
Boylan Apartments Pullen Park 817 Hillsborough St Raleigh 12/1/2021 $14,000,000 56 50,099 $250,000 $279 1935/2007 C
Location Information

Raleigh, North Carolina

Anchored by thriving technology and life sciences industries, Raleigh consistently ranks as one of the fastest-growing and most affluent markets in the Southeast. Raleigh's population continues to grow by 2% annually, making it the second-fastest-growing large metropolitan area in the U.S., behind only Austin. Raleigh's new residents fuel the area's multifamily market. Raleigh’s high-skilled labor pool and lower-than-average cost of living bolstered the region’s reputation as a market on the rise. Recent announcements from Apple, Spotit, INEOS Automotive, and Amgen provide a glimpse into Raleigh’s thriving future.(1)

One of the main reasons Raleigh continues to attract corporate investment is the talent base and highly educated labor pool. The area’s universities, including North Carolina State University in Raleigh, Durham's Duke University, and UNC Chapel Hill, provide a steady stream of workers from which local employers recruit.(1) The last US Census reported 52.4% of Raleigh’s residents hold a bachelor's degree or higher, which is nearly 20% higher than the national average.(2)

Raleigh’s concentration of technology and life science companies has greatly impacted the market’s recovery rate post-pandemic. These high-growth sectors have helped attract companies to the Raleigh-Durham-Chapel Hill Triangle, even during the height of the pandemic.

Video game creator, Epic Games, employs more than 2,000 workers in the area and has plans for additional growth. Bandwidth, a software communications company, is currently building a new headquarters campus in West Raleigh and announced it will bring almost 1,200 new jobs to the metro. The company purchased Cary Towne Center, had the former mall demolished, and is planning to turn that property into a mixed-use development, which will include its global headquarters, commercial space, and a hotel, by 2025. FUJIFILM Diosynth Biotechnologies selected Holly Springs as the location to build a new $2B cell culture production facility, the largest life science investment announcement in North Carolina’s history. The company already has an office in Morrisville and plans to hire around 725 new workers at the new plant by 2028. In November 2022, a subsidiary company, FUJIFILM Irvine Scientific, announced that it is planning to invest an additional $188 million in a separate new cell culture media manufacturing facility in Research Triangle Park that will create more than 100 jobs.(1)

Submarket: East Raleigh

East Raleigh is part of the Downtown Raleigh submarket cluster.  As a major employment hub and cultural center that offers a wide variety of restaurants and amenities, the Downtown Raleigh area is one of the region’s most vibrant areas. Downtown Raleigh has a diverse economy concentrated in finance, technology, healthcare, and government. The growth of the technology industry has transformed downtown Raleigh as companies like Red Hat and Pendo have a major presence.(1)

Annual rent growth in Downtown Raleigh averaged 5.6% year-over-year in the last five years and 4.2% year-over-year in the last decade. The submarket's average rent of $1,570 is in line with the overall Raleigh rental rate.(1)

Downtown Raleigh offers a wide variety of restaurants, bars, breweries, music venues, and museums. In addition, several prestigious higher education institutions are in or near downtown, including North Carolina State University, Shaw University, Saint Augustine’s, William Peace University, and Campbell Law School, which makes the area appealing to recent graduates and young employees. Downtown Raleigh is also one of the few walkable metropolitans in the region, which is appealing to residents who are looking to rely less on automobiles.(1)

(1) Source: CoStar

(2) Source: US Census Bureau

Cap Stack
Sources & Uses

Total Capitalization

Sources Amount $/Unit %
Senior Loan $6,947,000 $102,162 60.5%
Investor Equity $4,542,946 $66,808 39.5%
Total $11,489,946 $168,970 100.0%
Uses Amount $/Unit %
Purchase Price $9,400,000 $138,235 81.8%
Loan Fee $80,127 $1,178 0.7%
Closing Costs $300,000 $4,412 2.6%
CapEx Budget $1,402,680 $20,628 12.2%
Acquisition Fee $188,000 $2,765 1.6%
Taxes and Insurance $69,139 $1,017 0.6%
Working Capital $50,000 $735 0.4%
Total $11,489,946 $168,970 100.0%

RealtyMogul Apartment Growth REIT, Inc. (the “REIT”), an affiliate of RM Communities LLC, will acquire a substantial portion of the Owner’s equity and have certain major decision rights. Please refer to the Investment Documents for additional information.

Debt Assumptions

The expected terms of the debt financing are as follows:

  • Lender/Servicer: Freddie Mac / Newpoint Real Estate Capital
  • Loan Type: Fixed
  • Total Loan Amount: $6,947,000
  • Amortization: 30 Years
  • Interest Rate: 5.83%
  • Interest-Only: 2 Years
  • Initial Loan-to-Value: 73.9%
  • Loan-to-Cost: 64.3%(1)
  • Extension Options: N/A

(1) Loan-to-cost is calculated as the loan amount divided by total cost (purchase price  + capex budget).

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 of 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.


RM Communities intends to make distributions as follows:

Operating Cash Flow:

  1. To the Investors, pari passu, all operating cash flows to an 8.0% preferred return;
  2. 70% / 30% (70% to Investors / 30% to Promote) of excess cash flow to a 16% IRR; 
  3. 50% / 50% (50% to Investors / 50% to Promote) of excess cash flow thereafter. 

Capital Event:

  1. To the Investors, pari passu, all operating cash flows to an 8.0% preferred return;
  2. Return of Capital to Members
  3. 70% / 30% (70% to Investors / 30% to Promote) of excess cash flow to a 16% IRR; 
  4. 50% / 50% (50% to Investors / 50% to Promote) of excess cash flow thereafter. 

RM Communities 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 November 2023 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(1) Reversion(2)
Effective Gross Income    $1,003,425 $1,150,103 $1,206,128 $1,270,206 $1,308,312
Expenses    $331,130 $359,035 $370,726 $383,053 $414,729
Net Operating Income    $672,295 $791,068 $835,402 $887,153 $893,583
Total Property Cash Flow    $278,719 $368,806 $326,576 $7,976,234  
Projected Investor Cash Flow
  Year 0 Year 1 Year 2 Year 3 Year 4  
Investor-Level Cash Flows - Hypothetical $50,000 Investment(3)  ($50,000) $3,018 $4,010 $3,545 $76,446  

(1) Year 4 cash flows include the projected sale of the Property.

(2) Reversion Expenses and Net Operating Income are tax-adjusted based on the projected purchase price at sale.

(3) Projected returns are net of all fees. 

RM Technologies, LLC and its affiliates do 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. 



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)(2):

One-Time Fees
Type of Fee Amount of Fee Received By
Acquisition Fee 2.0% of Purchase Price RM Communities
Financing Fee(1) 1.0% of Refinanced Loan Amount RM Communities
Capital Improvements and Contract Management Fee 5.0% of Capital Improvement Expenditures in excess of $25,000 Trademark, Third Party Property Manager
Recurring Fees
Type of Fee Amount of Fee Received By
Asset Management Fee 1.5% of Effective Gross Income (EGI) RM Communities
Property Management Fee Monthly, the greater of $4,000 and 6.5% of cash rent and other income collection Trademark, Third Party Property Manager

(1) A Financing Fee will only be charged in the event of a refinancing event. The current business plan and returns presented herein do not assume a refinancing event during the investment hold period outlined. 

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

The following offering documents 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.
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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