FORMALIZED DUE DILIGENCE PROCESS 
Sponsors

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Confidentiality Agreement
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Estimated Hold Period 2 Years
Estimated First Distribution 2/2026
FUNDED 100%
...
View Our Due Diligence Process
Offered By
Fourth Time Partners
Investment Strategy Development
Investment Type Equity
Minimum Investment 35000
Overview
Development of a new NNN build-to-suit micro-hospital for Nutex Health, a NASDAQ public company, which provides a great opportunity to invest in a premier Healthcare project in Florida, one of America's largest and fastest-growing state economies
New Construction

New NNN build-to-suit project for Nutex Health, a publicly traded operator of micro-hospitals and healthcare facilities. As a result, a long lease is already in place, which mitigates risk and removes the lease-up risk often associated with leased properties. Additionally, because the Sponsor-Developer has already acquired the land for the Project, Sponsor has borne the pursuit phase and diligence phase risk prior to construction. Finally, with an option in place for the tenant to purchase this location soon after development, there is an exit sale already planned.

Class A

Nutex Health is a publicly traded micro-hospital and acute care facility operator that has executed an initial 15-year lease term. Further, the lease is guaranteed by Nutex Health, the corporate parent, as well as the physician operating partners, guarantors with a net worth in excess of the project investment amount.

Asset Quality

Healthcare in Florida is a uniquely compelling combination. Healthcare is the largest sector in the U.S. economy, and the fastest-growing major economic sector, projected to rise to 25% of the total U.S. GDP by 2030, per the Brookings Institution 2023 report. Also, Florida is America's top-rated state for business performance, domestic migration, and healthcare growth.

Property at a glance
# of Buildings 1
Net Rentable Square Footage 28,900
Project Stabilization March 2025
Total Development Budget $33,762,918
Target Return on Cost 9.1%
Land Acquisition Price & Related Costs $5,564,000
Investment Highlights
Top U.S. Asset Class: Chance to invest in Class A Healthcare Project; healthcare is the largest and fastest-growing segment in the U.S. economy.
Robust Returns: Project is expected to generate an IRR of 27.2% per year due to strong fundamentals, a planned exit, and a shorter investment period.
Class A Project: New construction for a premier operator in top U.S. growth industry in one of Top 10 U.S. growth markets.
Fast-Growing Florida: Florida is currently rated the top U.S. state for business performance, domestic migration, and healthcare growth.
No Lease-up Risk: In-place NNN 15-year lease with publicly-traded healthcare operator; lease guarantors have a net worth in excess of project investment.
Best Location: Hard corner of major commercial and residential corridors; site accessible to 75% of Jacksonville MSA population in 30 minutes.
Investment Horizon: Project to be developed and sold within about two years of investment. The Project is past pursuit, diligence, and land acquisition risk phases.
Management
Cumulative Distributions

Fourth Time Partners

Fourth Time Partners develops projects across the Sunbelt in high-growth markets and in high-growth segments with only the strongest economic fundamentals and trends. Healthcare is among the largest and fastest-growing economic drivers of the U.S. economy, and Fourth Time is deeply involved in healthcare development.

This emphasis on economic fundamentals and high growth means that Fourth Time focuses on large, dynamic, and fast-growing states like Texas, Georgia, and Florida. 

Fourth Time’s partners have developed or acquired over $500 million of properties across the Sunbelt over the past 20 years with another dozen or so projects in their development pipeline, including healthcare, medical, and senior living projects in multiple states, with project completions scheduled from 2023 through 2028.

  • Stephen M. LaMastra
    Co-Founder & Managing Partner
  • Chris Allen
    Co-Founder & Managing Partner
Stephen M. LaMastra
Co-Founder & Managing Partner

Stephen M. LaMastra is co-Founder and Managing Partner of Fourth Time Partners, a commercial real estate development and management company based in Atlanta. LaMastra previously ran several other successful real estate companies and has overseen teams managing over 3 million square feet of commercial real estate over the years. Fourth Time Partners specializes in commercial development in Sunbelt states, with a focus on healthcare, senior living, and mixed-use projects. He has also served as the CEO, President, and COO of several large operating companies in his career. He has developed or acquired over $500 million worth of real estate projects and has closed another $500 million worth of debt and financing transactions. LaMastra has owned, developed, leased, or managed commercial real estate in nearly every state in the U.S., with particularly deep experience in the Sunbelt states. LaMastra has an undergraduate degree from Wake Forest University, a law degree from Vanderbilt University, and nearly 30 years of experience in real estate development. He and Fourth Time Partners focus on the core fundamentals and strongest markets in order to add value to each and every project and to deliver the best returns to investors.

Chris Allen
Co-Founder & Managing Partner

Chris Allen is Co-Founder and Managing Partner of Fourth Time Partners, a commercial real estate development and management company based in Atlanta. Allen also runs Rooster Real Estate Group in Florida, a growing brokerage and management firm that does brokerage and affiliate work with Fourth Time Partners. He was previously a partner with Verdad Real Estate, a large Texas development firm, where he ran multiple offices and oversaw over $100 million of development. Prior to that, Allen was a real estate executive with companies such as Starbucks, P.F. Changs, Moe’s Southwest Grill, and Ritz Camera, where he managed hundreds of new locations and developments. He has developed, managed, or leased over $400 million worth of real estate projects in his two-decade career. Allen has an undergrad degree from Rollins College, a masters from The John Hopkins University, and over 20 years of experience in the development of commercial real estate. He and Fourth Time Partners work to add value to every project and to deliver the best returns to investors.

Track Record

Property Name City, State Asset Type Status Completed Sales Price or Estimated Value IRR (Est. on Equity)
Skyline Seven Projects FL, KS, IL, GA Retail and Mixed-use SOLD 2008 $25,000,000 24.00%
Lark Athens (formerly 909 Broad) Athens, GA Student Housing SOLD 2010 $50,000,000 35.00%
RCI Headquarters Building Washington DC Office & Distribution SOLD 2011 $30,000,000 15.00%
Stonecrest Pavilion Atlanta, GA Retail SOLD 2015 $11,000,000 22.00%
Howell Crossing Atlanta, GA Mixed-use SOLD 2017 $7,500,000 20.00%
Merchants Exchange Atlanta, GA Mixed-use SOLD 2017 $6,000,000 33.00%
Verdad NNN Projects TX, CO, NV, LA Mixed-use SOLD 2018 $75,000,000 N/A
North Bridges Shopping Center Atlanta, GA Retail SOLD 2018 $18,000,000 27.00%
Centre Pointe Charleston, SC Mixed-use SOLD 2019 $19,000,000 18.00%
Prado Exchange Atlanta, GA Mixed-use SOLD 2019 $15,500,000 35.00%
Promenade North Montgomery, AL Retail SOLD 2019 $7,500,000 16.00%
Village Green Champions Houston, TX Senior Living SOLD 2020 $4,000,000 45.00%
Promenade Montgomery Montgomery, AL Mixed-use SOLD 2020 $12,000,000 16.00%
Village Green Kingwood Houston, TX Senior Living SOLD 2021 $4,000,000 40.00%
Shoppes at Rivergate Nashville, TN Mixed-use SOLD 2021 $15,000,000 N/A
Village Green at Rockwall Dallas, TX Senior Living SOLD 2021 $6,500,000 31.00%
River Exchange Atlanta, GA Mixed-use SOLD 2021 $22,000,000 21.00%
Village Green at McKinney Dallas, TX Senior Living SOLD 2022 $7,000,000 45.00%
Village Green at Highland Village Dallas, TX Senior Living SOLD 2023 $7,000,000 36.00%
Acworth Crossing Atlanta, GA Retail OWNED N/A $20,000,000 N/A
North Charleston SC Charleston, SC Retail OWNED N/A $20,000,000 N/A
Monarch at Lee Branch Birmingham, AL Mixed-use OWNED N/A $26,000,000 N/A
Village Green at Sachse Dallas, TX Senior Living OWNED N/A $7,500,000 N/A
Totals/Weighted Avg.         $415,500,000  

(1) This includes both Fourth Time Partners projects and those involving Fourth Time principals prior to the creation of Fourth Time Partners.

The above bios and track record were provided by Fourth Time Partners and have not been independently verified by RealtyMogul.

The Fourth Time Partners' principals have developed and successfully sold many similar NNN and build-to-suit projects, and have historically delivered excellent investor returns on NNN projects like this one. For this Project, Fourth Time will complete a build-to-suit micro-hospital for Nutex Health, a publicly traded, NASDAQ-listed, technology-enabled healthcare company. The development process is divided into three (3) phases:

1. Pre-Development: This will have been completed by the time of investment. This phase included (1) pursuit and site design; (2) due diligence; (3) land acquisition; (4) lease execution; (5) architectural and engineering plans; (6) entitlements and permitting; (7) selection of the general contractor; and (8) securing construction financing.

2. Construction: This will commence by Q1 2024 and includes site and infrastructure work and vertical construction over about 18 months.

3. Project Completion and Exit: After construction, the tenant plans to open for business, and the Project will be sold and proceeds returned to investors by Q1 2026. 

Parkway Construction, a large nationally-known general contractor, will serve as the GC for the Project and oversee the construction process. Sponsorship currently anticipates that a Nutex-related affiliate will exercise a purchase option at project completion to acquire the Project. 

Development Costs Total Amount
Total Land Costs $5,564,000
   
Hard Costs  
Construction Costs $21,875,000
Construction Management $135,000
Total Hard Costs $22,010,000
   
Soft Costs  
Architecture & Engineering $329,000
Equity Raise Fees and Capital Costs $240,000
Diligence, Legal, and related costs $275,000
Const. Period Prop. Tax $225,000
Asset/Property Management Fees $288,000
Development Fee (upfront) $150,000
Development Fee (upon sale) $500,000
Total Soft Costs $2,007,000
   
Financing + Other Costs  
Capitalized Construction Interest $1,489,293
Financing Fees & Costs $1,692,625
Contingency $1,000,000
Total Financing + Other Costs $4,181,918
   
Grand Total $33,762,918
Property Information

Nutex Health Jacksonville is being developed at the hard corner of Beach and Kernan Boulevards, one of the busiest intersections in the entire Jacksonville MSA. This provides for maximum visibility, nearly 200,000 people in just a 5-mile radius, and broad access to over 1,000,000 people within a short drive. Beach Boulevard is a major retail-commercial corridor, and Kernan Boulevard is a major north-south residential connector. Nutex Health has signed a 15-year triple-net lease for the location.

The Project is located next to a large, new Sprouts-anchored center and across Beach Boulevard from one of Jacksonville's top-performing Publix grocery stores. The Project is also located in the master-planned Tamaya community with single-family, multi-family, and senior living, and thousands of residents.      

The Project is a triple net (NNN) build-to-suit for Nutex Health, which means that once the facility is completed and turned over to the tenant for operation, the Tenant and not the property owner is responsible for the payment of property taxes, insurance costs, and common area maintenance - the 3 primary categories of additional rent. These types of investments are popular among long-term investors and owners because (1) they provide a clearly defined income stream, unaffected by property-related costs; (2) the owner does not have to pay for increases in those costs over time; and (3) there is none of the typical property management work required of the owner.

In addition, this Project is being developed with precisely the same footprint, layout, and functionality as the Nutex Health corporate location (the first in the state) currently in the final stages of construction in Tampa, Florida. In addition, Sponsor is using the same architectural and design team for this Jacksonville project as the Tampa corporate location. As a result, the Sponsor is taking advantage of institutional knowledge on the part of the Tenant and design team, and recent learning and experience provided by the Tampa project, which further assists the Sponsor as it leverages this knowledge and experience while building the Jacksonville Nutex Health location.

Tenant SF % of Property (Proforma) Lease Start (Estimated) Lease End (Estimated) Rent PSF (Estimated) Lease Type
Nutex Health 28,900 100% 4/1/2025 3/31/2040 $104.20 NNN
Comparables

Sales Comparables

  1205 Monument Rd 12443 San Jose Blvd 6138 Kennerly Rd 13241 Bartram Park Blvd 4035 Southpoint Blvd 7015 A Skinner Parkway 3001 Hartley Rd 7178 Baymeadows Way Averages Nutex Health Jacksonville
Sale Date 10-21-2022 11-03-2021 12-01-2021 11-04-2022 08-05-2021 12-15-2021 03-31-2022 10-27-2022 04-02-2022 Q4 2025
Sales Price $4,975,000 $2,816,000 $109,525,238 $1,250,000 $11,180,000 $13,209,398 $5,550,000 $18,485,791 $20,873,928 $40,988,228
Year Built 1991 2003 1969/2007 2007 2020 2014 1984 2010 2004 2025
NRSF 1,399 1,141 45,264 1,140 11,855 18,000 5,988 30,000 14,348 28,900
Sales Price / SF $3,556 $2,468 $2,420 $1,096 $943 $734 $927 $616 $1,595 $1,418
Distance from Subject Property 5.9 miles 20.7 miles 12.2 miles 18.0 miles 9.0 miles 9.2 miles 15.8 miles 12.3 miles 12.9 miles  
Notes Condo Sale Condo Sale Portfolio Sale   Portfolio Sale Cancer Specialist        
Location Information

Market Overview

The Jacksonville MSA (“Jacksonville” or “Jacksonville MSA”), is comprised of Baker, Clay, Duval Nassau, and St. Johns counties. With over 1.5 million people, it’s Florida’s fourth most populated MSA and the 50th largest MSA in the nation. Over the next five years, the Jacksonville MSA’s projected population growth (9.4%) is expected to double the projected national average (4.0%), according to U.S. census estimates. The City of Jacksonville, which covers 841 square miles, has the distinction of being the largest city in the continental United States in terms of land area, and with a population of 880,619 in the city alone, is Florida’s largest city and the nation’s 13th largest city. 

Due to its convenient location in fast-growing Florida and on the coast, robust economic growth, mild climate, high quality of life, and one of the lowest overall costs of living in the nation (no local or state personal income tax), the Jacksonville MSA’s population growth has been tremendous over the past 10 years, leading to a relatively young populace with a median age of about 38 years old. These factors, along with its low-cost business environment have been a catalyst for corporate expansion and relocations, resulting in robust financial and technological service sectors. 

Jacksonville is North Florida’s employment hub with a workforce of nearly 700,000 people. The quality of the labor force has made Jacksonville appealing to Wall Street as an expansion market. Bloomberg reports that over 19,000 employees of the world’s top Wall Street Firms – such as Bank of America, Citigroup, JP Morgan Chase, and Wells Fargo – have a presence in Jacksonville. Deutsche Bank, in particular, has its second-largest United States location in Jacksonville with around 2,000 employees. The unique mix of location, quality of life, and cost of living has allowed these Wall Street firms to hire both back office positions as well as higher paying executives, and this has added to the overall remarkable job growth in Jacksonville over the last few decades.

Submarket Overview

Nutex Jacksonville is in the Beach Boulevard submarket and will serve many of the high-end and fast-growing southeastern Jacksonville suburbs and beach communities, including Atlantic Beach, Neptune Beach, and Ponte Vedra Beach. Located at one of the busiest intersections in the entire Jacksonville MSA, this location has access to over 1,000,000 people within a 30-minute drive, and nearly 200,000 residents in a 10-minute drive.  

The location is ideally suited as the first and largest planned location for Nutex Health in Jacksonville, and it is located in a trade area that is at least 10 minutes away from the nearest major hospitals. The overall strength of this trade area, in one of the fastest-growing MSAs in one of the 2 fastest-growing states in America, is another strong fundamental for this investment in healthcare real estate. 

Finally, the location is at least 10 minutes away from the nearest major hospitals and will form the basis for a new and emerging healthcare center to serve the busy and fast-growing Beach Boulevard corridor. This will provide an exceptional opportunity for Nutex Health to build up its patient base quickly and to access a large pool of families and professionals who will prefer a concierge-level healthcare experience to a traditional and chaotic hospital emergency room.

Cap Stack
Sources & Uses

Total Capitalization

Sources of Funds $ Amount $ / SF
Construction Debt $25,862,500 $895
GP Equity(1)(2) $908,548 $31
LP Equity $6,991,870 $242
Total Sources of Funds $33,762,918 $1,168
     
Uses of Funds $ Amount $ / SF
Land Costs $5,564,000 $193
Hard Costs $22,010,000 $762
Soft Costs $2,007,000 $69
Contingency $1,000,000 $35
Capitalized Construction Interest $1,489,293 $52
Financing Fees & Costs $1,692,625 $59
Total Uses of Funds $33,762,918 $1,168

(1) This includes $500,000 of deferred development fee, as provided in Documents.

(2) 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: NRE Capital Partners
  • Loan Type: Construction Loan
  • Term: 24 Months & Borrower to be afforded one six (6)-month extension option, subject to terms and conditions to be set forth in loan documents, at a cost of 1% of the total maximum loan amount.      
  • Loan-to-Cost: 76.6%      
  • Estimated Proceeds: $25,862,500      
  • Interest Type: Floating      
  • Interest Rate: 7.940% over 30-Day SOFR, with floor at 5.06%
  • Interest-Only Period: 24 Months      
  • Exit Fee: 1% of the Maximum Total Loan Amount
  • Prepayment Terms: Minimum of eighteen (18) months interest payments collected. Thereafter the loan may be prepaid in full without a prepayment penalty.      
  • Recourse Description: Limited Recourse

(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. 

(2) In addition, the Sponsor intends to buy a rate cap or rate swap instrument to ensure that the cost of the construction loan does not increase over the projected interest rate currently modeled for the construction period. It is increasingly likely that interest rates will move downward before they move up during the projected construction term, so the cost of the rate cap will likely be less than originally anticipated.

Distributions

Fourth Time Partners intends to make distributions from 4TP Jax BB Investors, LLC as follows:

  1. Pari passu all cash flow available for distribution to the Equity Investors until the Equity Investors receive a 10.0% IRR;
  2. 80% / 20% (80% to Equity Investors / 20% to Promoted/Carried Interest) of all cash flow available for distribution to a 15.0% IRR;
  3. 75% / 25% (75% to Equity Investors / 25% to Promote/Carried Interest) of all cash flow available for distribution to a 21.0% IRR;
  4. 70% / 30% (70% to Equity Investors / 30% to Promote/Carried Interest) of all cash flow available for distribution thereafter.

Fourth Time Partners 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 in February 2026. Distributions are at the discretion of Fourth Time Partners, who may decide to delay distributions for any reason, including maintenance or capital reserves.

Fourth Time Partners will receive a promoted/carried interest as indicated above.

Cash Flow Summary
    Year 1 Year 2
Effective Gross Revenue   $0 $2,509,483
Total Operating Expenses   $0 $0
Net Operating Income   $0 $2,509,483
       
Project-Level Cash Flows
  Year 0 Year 1 Year 2
Net Cash Flow ($7,900,418) $0 $13,896,081
       
Investor-Level Cash Flows(1)
  Year 0 Year 1 Year 2
Net Cash Flow ($6,991,870) $0 $11,310,997
       
Investor-Level Cash Flows - Hypothetical $50,000 Investment(1)
  Year 0 Year 1 Year 2
Net Cash Flow ($50,000) $0 $80,887

(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 Fourth Time Partners' 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
Disposition Fee 1.0% of total sale price paid after equity investors have received a 10% IRR Sponsor Cash Flow
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 $8,000 per month during development period Sponsor Capitalization
Construction Management Fee $7,500 per month during construction Sponsor Construction Expenditure Budget
Development Fee $650,000 ($150,000 at loan closing and remainder to be in a capital account treated as invested GP equity accruing a preferred return from inception and not subject to clawbacks) Sponsor Construction Expenditure Budget
General Contractor Fee Approx. 3.0% of Construction Costs Third-Party General Contractor Construction Expenditure Budget
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 Capitalization

(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.

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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