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.

Weaver Capital Partners
Weaver Capital Partners is a private investment firm that is active in acquiring commercial real estate across the Southeast. The firm seeks opportunistic and value‐add transactions across most major property types including office, industrial, retail and mixed‐use projects. The company has been involved in six investments representing more than $185 million of total capitalization.
Property | Location | Product Type | Property Size (SF) | Purchase Date | Total Deal Size |
---|---|---|---|---|---|
Puritan Mill | Atlanta, GA | Mixed-Use | 85,000 | 2001 | $14,500,000 |
White Provision | Atlanta, GA | Mixed-Use | 150,000 | 2007 | $76,000,000 |
Peachtree Square | Atlanta, GA | Industrial | 300,000 | 2005 | $11,000,000 |
4100 Henry Ford II Avenue | Atlanta, GA | Industrial | 398,000 | 2006 | $9,000,000 |
Cigar Factory | Charleston, SC | Mixed-Use | 240,000 | 2014 | $65,000,000 |
Edgehill Village | Nashville, TN | Mixed-Use | 60,000 | 2014 | $10,000,000 |
Total | 1,233,000 | $185,500,000 |
*Sponsor information and track record were provided by the Sponsor and have not been independently verified by RealtyMogul.com.
In this transaction, RealtyMogul.com investors will invest in Realty Mogul 74, LLC. Realty Mogul 74, LLC will subsequently invest in Foster Retail, LLC, the entity that is to hold title to the Property.
The Sponsor plans to add value by leasing the currently and soon to be vacant space at the Property, while rolling under market rents to market upon lease expirations. Duke University has occupied the Property since 2008, and the Sponsor believes that it is likely that they will exercise their second extension option due to the length of their tenure, as well as the approximately $4 million investment made in their space by Duke and the current property owner in robust lab infrastructure. The soon-to-be vacant space should be attractive to potential tenants given the street level visibility and location of the Property in downtown Durham.
The Sponsor’s current plan is to self-manage the Property. For leasing, they have been in discussions with a local broker as well as CBRE and Cushman & Wakefield.
Upon completion of the business plan, the Sponsor intends on selling the Property within five years, although the timing of the sale is at the discretion of the Sponsor and the hold period could be shorter or longer than five years depending on market conditions.
RealtyMogul.com, along with The Seng Company and Weaver Capital Partners (“Sponsor” or "Sponsors"), is providing the opportunity to invest in the acquisition and ownership of the Duke University-Anchored Portfolio (the "Property"), two stabilized office/retail properties in downtown Durham, North Carolina totaling 27,691 square feet.
The Sponsor sees this investment as an opportunity to acquire a well located, well occupied asset that benefits from a strong anchor in Duke University (S&P AA+), with additional upside potential through leasing of the to be vacated space.
The primary objective of this investment is to acquire the Property at an attractive going-in yield and basis, increase occupancy and rental rates and sell the Property within five years.
The Property is a two-building portfolio of adjacent buildings located in downtown Durham, less than two miles from Duke University. The buildings were originally built in 1930 and 1932, then renovated in 2001 and 2005.
Triangle Biotechnology Center, or 323 Foster Street, was originally built in 1932 as Clark & Sorrell Garage, and was the oldest repair garage still in operation in the city when it was closed in 2000. The functional brick and concrete building is listed on the National Register of Historic Places and benefits from a 50% abatement on property taxes. In 2001, after extensive renovations, Triangle Biotechnology Center was opened to address a need for R&D facilities in downtown Durham with lab space. The historic building with modern lab and office space are designed to meet the functional requirements of a broad range of different types of research. The laboratories are designed around a central utility spine that provides easy access to all major building services.
401 Foster Street was originally constructed as a warehouse likely used by Liggett and Myers Tobacco Company. In the 1940s, the building was converted to auto service and sales at which time the interior posts were removed, the roof re‐supported by steel trusses and the front façade was converted to stucco. Later, the building became home to Southeastern Radio Supply and the land continues to be owned by a trust that evolved from Southeastern Radio. The redevelopment of 401 Foster Street into the destination spot it is today commenced in 2005 with new plumbing, electrical, HVAC, storefronts, exterior stucco and signage transforming the building while striving to maintain historical integrity.
Major Tenants
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Duke University (S&P AA+) has been a tenant at 323 Foster Street ("Triangle Biotechnology Center") since 2009. They recently exercised their first renewal option to extend the lease through 2020 and still have a second, five‐year renewal option remaining.
Duke University is a private research university with over 14,850 students as of Fall 2014. Duke consistently ranks as one of the top universities in the United States. In September 2015, CollegeFactual.com named Duke the 3rd best college for four‐year undergraduate programs ‐ beating out Stanford, Harvard and Princeton. Duke ranked eighth for best graduate school and medical programs by US News & World Report.
Duke’s research expenditures in the 2013 fiscal year were approximately $993 million, the eighth largest in the nation. In addition to its campuses spanning over 8,600 acres, Duke University occupies an estimated 1 million SF of space in downtown Durham according to Duke's head of real estate, including space at American Tobacco, Carmichael building (within Durham ID) and Triangle Biotechnology Center.
The Duke space within Triangle Biotechnology Center was designed to accommodate research which is currently led by Dr. Levin, as the Chief of the Neurobehavioral Research Lab in the Psychiatry Department, who rides his bike to work. The three main research components of his laboratory are focused on the themes of the basic neurobiology of cognition and addiction, neurobehavioral toxicology and the development of novel therapeutic treatments for cognitive dysfunction and substance abuse. Funding for Dr. Levin’s research comes from multiple sources including the EPA and NIEHS. The lab is used by both undergraduate and graduate students.
Site Plan
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Surrounding Developments
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1. Liberty Warehouse
Previously the location of a historic tobacco warehouse, Liberty Warehouse contains 246 luxury apartments including a pool and fitness center, over 24,000 SF of retail/commercial space and a bowling alley/entertainment complex.
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2. The Chesterfield
Located by West Village on W. Main Street, The Chesterfield is a 7-story, 284,000 SF adaptively reused historic building, which will focus on life science and technology and include office, lab and retail space with a large atrium to encourage collaboration and networking. The project is expected to be completed in first quarter 2017.
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3. City Center
City Center will be located in the heart of the City Center District of downtown Durham. It is a planned 28-story mixed use tower anticipated to include residential condos, luxury apartments, Class A office space and street level retail. The proposed building would be the tallest building in Durham, and is expected to be completed in second quarter 2017.
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4. Durham Innovation District (“Durham.ID”)
Durham Innovation District is a master planned research hub for downtown Durham led by Longfellow Real Estate Partners, Hank Scherich (CEO of Measurement Inc.) and Duke University. Durham.ID covers 15 acres and eventually will include over 1.48 million SF of both new and existing office and lab space as well as 50,000 SF of retail, 300 new residential units and three parking decks. Duke University is already located in the Carmichael Building and is expected to lease additional space within Durham.ID. The development plans to function as a research hub with emphasis on life science companies and researchers looking to collaborate with each other and Duke University. The project is estimated to cost $400-$500 million.
Source: Cushman & Wakefield
Property | Sale Date | Size (Square Feet) | Price | $/Square Foot | Cap Rate | |
---|---|---|---|---|---|---|
Rogers Alley | Dec-14 | 30,000 | $6,100,000 | $203 | 6.30% | |
American Tobacco Hall | Dec-14 | 71,600 | $14,400,000 | $201 | 7.25% | |
Venable Center | Jan-16 | 85,886 | $18,000,000 | $210 | N/A | |
211 Rigsbee Avenue | Oct-15 | 7,920 | $1,435,000 | $181 | 6.50% | |
Average | 48,852 | $14,182,539 | $204 | 6.68% | ||
Subject | 27,691 | $6,100,000 | $220 | 8.29% |
Property | Size (Square Feet) | Rental Rate | Year Built | Lease Type |
---|---|---|---|---|
405 E. Chapel Hill Street | 1,395 | $24.00 | 1920 | NNN |
206-208 Rigsbee Avenue | 3,882 | $26.00 | 1912 | NNN |
401 E. Chapel Hill Street | 3,000 | $24.50 | 1922 | NNN |
125 E. Parish Street | 1,636 | $23.47 | 1910 | NNN |
353 W. Main Street | 577 | $22.88 | 1920 | NNN |
Average | 2,098 | $24.17 | 1917 | NNN |
Subject - Pro Forma Rents | N/A | $21.00 | 1930 & 1932 | NNN |
The comparables included in the above tables were either sourced from CoStar, Real Capital Analytics or they were provided by the Sponsor
The Property is located along Foster Street in Downtown Durham. The Property is adjacent to an estimated $500 million of new development including Durham.ID. Durham Innovation District (aka Durham.ID) is a master planned research hub for downtown Durham led by Longfellow Real Estate Partners, Hank Scherich (CEO of Measurement Inc.) and Duke University (number 5 on the “Surrounding Developments” map). Durham.ID covers 15 acres and eventually is to include over 1.48 million SF of both new and existing office and lab space as well as 50,000 SF of retail, 300 new residential units and three parking decks. Duke University is expected to lease additional space within Durham.ID. The development plans to function as a research hub with emphasis on life science companies and researchers looking to collaborate with each other and Duke University.
Duke’s increased presence and commitment downtown has spurred economic activity. Duke occupied 70,000 SF in 2004, just over 1 million SF in 2014 and is expected to occupy 1.5 million SF in 2018, according to Duke's head of real estate. The Property is highly visible along Foster Street which connects Downtown Durham with Geer Street, an area with bars/restaurants and new multifamily/condo development. During the site visit, numerous construction sites were observed, which is expected to increase population density over the next few years. The area has experienced robust gentrification over the recent years with many young professionals moving into the area. Over the past few years, 941 apartment units have been added in the immediate area. The surrounding population has grown by almost 15% annually over the past five years and is expected to grow by over 10% annually over the next five years according to CoStar.
Market Overview
According to CoStar, the Durham office market fundamentals continued to improve at the end of the third quarter of 2016. Vacancy rates decreased 170 basis points year-over-year, ending the quarter at 8.5%. Average direct asking rental rates increased slightly finishing the quarter at $20.33, an increase of 2.8% from one year ago. The third quarter experienced 576,000 square feet of absorption. Durham office metrics remain positive as we approach the close of 2016.
Submarket Overview
Per CoStar market research, the Downtown Durham office submarket totals almost 5.5 million square feet and is the market's third largest office submarket. Vacancy rates have decreased by 390 basis points since the end of 2013 to 1.7% today which has provided buoyancy to rental rates as prospective tenants vie for prime space in the area.
Demographic Information
Demographics | 1 Mile | 3 Miles | 5 Miles | |
Population (2016) | 16,573 | 97,031 | 188,136 | |
Growth (2010-2016) | 15.35% | 12.40% | 13.22% | |
Growth (2016-2021) | 10.45% | 10.06% | 10.18% | |
Average HH Income (2016) | $51,852 | $48,652 | $57,760 |
Demographic information above was obtained from CoStar

Sources of Funds | ||
Debt | $4,500,000 | |
Equity | $1,975,000 | |
Total Sources of Funds | $6,475,000 | |
Uses of Funds | ||
Purchase Price | $6,100,000 | |
Acquisition Fee | $61,000 | |
Broker-Dealer Fee | $40,000 | |
Closing Costs and Fees | $122,250 | |
Hard Costs | $30,750 | |
Tenant Improvement/Leasing Commission Reserve | $121,000 | |
Total Uses of Funds | $6,475,000 |
The projected terms of the debt financing are as follows:
- Lender: AloStar Bank of Commerce
- Proceeds: $4,500,000
- Interest Rate: One-Month Libor + 325 bps Floating
- Amortization: 25 years, with three (3) years of interest only
- Term: Five (5) years
- Extension Option: None
- Recourse: 7% of the loan amount ($315,000) to the Sponsors
- Exit Fee: $15,000
There can be no assurance that a lender will provide debt on the rates and terms noted above, or at all. All 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.
Foster Retail, LLC intends to make distributions to Investors (Realty Mogul 74, LLC, other LP investors, and Sponsor, collectively, the "Members" or "Member") per the priority order below.
- First, 100% of all distributable cash flow to Members pari passu until return of capital contributions;
- Second, 100% pari passu to Members until each Member receives cash in the aggregate to constitute an 8% internal rate of return (“IRR”);
- Third, 30% to Members and 70% to the Sponsor until the Sponsor has received cash in the aggregate equal to 30% of the amount by which all distributable cash exceeds all capital contributions (the “Catch Up”);
- Thereafter, 70% to the Members pro rata and 30% to the Sponsor.
Distributions are expected to start in August 2017 and are anticipated to continue on a quarterly basis thereafter. Note that the return of initial capital occurs only upon a capital event (sale or refinance). These distributions are at the discretion of the Sponsor, who may decide to delay distributions for any reason, including maintenance or capital reserves. Realty Mogul 74, LLC is to distribute 100% of its share of excess cash flow (after expenses and fees) to the Members of Realty Mogul 74, LLC (the RealtyMogul.com investors).
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
---|---|---|---|---|---|
Effective Gross Revenue | $779,639 | $879,026 | $910,118 | $936,434 | $963,006 |
Total Operating Expenses | $312,880 | $349,092 | $357,771 | $375,956 | $385,827 |
Net Operating Income | $466,759 | $529,934 | $552,347 | $560,478 | $577,179 |
Distributions to Realty Mogul 74, LLC Investors | $71,843 | $75,819 | $76,375 | $37,665 | $1,512,844 |
Certain fees and compensation will be paid over the life of the transaction. The following fees and compensation will be paid:
Type of Fee | Amount of Fee | Received By | Paid From | Notes |
---|---|---|---|---|
One-Time Fees | ||||
Acquisition Fee | $61,000 | Sponsor | Capitalized Equity Contribution | 1.0% of the Property purchase price |
Broker-Dealer Fee | $40,000 | North Capital (1) | Capitalized Equity Contribution | 4.0% based on the amount of equity invested by Realty Mogul 74, LLC with a minimum of $40,000 |
Leasing Commissions | 3% New / 2% Renewal | Sponsor | Operating Cash Flow | |
Recurring Fees | ||||
Property Management Fee | 3.0% of effective gross income | Sponsor | Operating Cash Flow | 3.0% of effective gross income |
Asset Management Fee | $19,750 per year | Sponsor | Operating Cash Flow | 1.0% of invested equity |
Management and Administrative Fee | 1.0% of investment assets in Realty Mogul 74, LLC | RM Manager, LLC | Distributable Cash | RM Manager, LLC is the Manager of Realty Mogul 74, LLC and a wholly-owned subsidiary of Realty Mogul, Co. (2) |
Notes:
(1) Certain employees of Realty Mogul, Co. are also registered representatives of, and are paid commissions by, North Capital Private Securities Corporation, a Delaware Corporation ("North Capital"). In addition, North Capital pays a technology provider services fee to Realty Mogul Co. for licensing and access to certain technology, reporting, communications, branding, entity formation and administrative services performed from time to time by Realty Mogul, Co., and North Capital, Co. are parties to a profit sharing arrangement.
(2) Fees may be deferred to reduce impact to investor distributions.
The above presentation is based upon information supplied by the Sponsors. Realty Mogul, Co., RM Manager, LLC, and Realty Mogul 74, LLC, along with their respective affiliates, officers, directors or representatives (the "RM Parties") hereby advise you that none of them has independently confirmed or verified any of the information contained herein. The RM Parties further make no representations as to the accuracy or completeness of any such information and undertake no obligation now or in the future to update or correct this presentation or any information contained herein.
Office Properties
Office buildings are subject to market forces affecting supply and demand just like other types of commercial space, but the economic drivers for office space are sometimes different than those for other real estate investments. Rents and valuations for offices are primarily influenced not just by employment growth but also by a region’s economic focus. Office properties are especially influenced by specific types of employment - namely, sectors with very high proportions of office use. These economic segments are generally those that utilize service and professional employees such as attorneys, accountants, engineers, insurance personnel, real estate brokers and related service providers (like title and escrow providers), and people working in banking, financial services, consulting, medical, dental, and pharmaceutical fields. Office space tends to be leased for relatively long periods, with tenants often having the option to renew leases for additional terms. This means that office properties often have leases that can lag current market lease rates, and an appropriate “step-up” of rental rates may not be able to be imposed until a lease expires. Economic downturns can affect office buildings more than residential buildings, since businesses can go bankrupt even while people continue to need housing. Re-leases of office space can often require significant lead time to consummate.
Hurricane Risk
Durham, North Carolina is located near the Atlantic Ocean, which is subject to frequent and sometimes destructive hurricanes. There can be no assurance that a sizable hurricane will not cause significant damage to the Property, in which case the business and financial condition of the Sponsor Entity, and thus the Company, would be materially adversely affected. There is no guarantee that the Sponsor Entity has or will obtain hurricane or flood insurance for the Property.
Ground Lease
A ground lease is typically defined as the lease of land for a relatively long term (e.g., 50 to 99 years), where all expenses of the property are the obligation of the tenant (e.g., taxes, repair and maintenance expenses, insurance costs, and financing costs). A tenant’s leasehold interest under a ground lease may be considered a “diminishing asset” in that the value and marketability of the project will diminish as the end of the term nears. This risk is partially mitigated by the fact that the property will be subject to a 54-year ground lease. Furthermore, there will be a purchase option currently projected to commence in 2030 through 2035.
Relationship of Manager and Deadlock Resolution Procedures
The Sponsor Entity is managed by two principals, each owning a fifty percent share of the Sponsor of the Property. The approval of both entities is required for all key decisions regarding the Property. There are deadlock resolution procedures that have been put in place if the parties cannot agree. The deadlock procedures include the ability to escalate the decision to a major decision which will be go a vote of the full ownership.
Retail Center Competition
Competition in the Property’s local market area is significant and may affect the Property’s occupancy levels, rental rates and operating expenses. In addition, internet-based retailing presents significant competition to certain types of retailers. If development of retail centers by other operators were to increase due to increases in availability of funds for investment or other reasons, or if internet-based retailing continues to draw consumers away from making purchases of goods and/or services of the types offered by tenants of the Property (or if it decreases the prices that such consumers are willing to pay for such goods and/or services), then this competition with the Property and its tenants could cause the value of the Property and the cash flow from the Property to decrease.
Local Market Conditions May Impact Rental Rates
Local conditions may significantly affect occupancy, rental rates, and the operating performance of a property. Such risks include (but are not limited to): (i) plant closings, industry slowdowns and other facts that affect the local economy; (ii) an oversupply of, or a reduced demand for, similar properties; (iii) a decline in household formation or employment or lack of employment growth, (iv) laws that could inhibit the ability to raise rents or to sell a property; and (v) other economic conditions that might cause an increase in operating expenses, such as increases in property taxes, utilities, compensation of on-site personnel and routine maintenance.
Vacancies and Tenant Defaults May Reduce the Property’s Revenues
A vacancy or default of a tenant on its rent will cause the Property to lose the revenue from that unit and, if enough effective vacancies occur, it could cause the Property to have to find an alternative source of revenue to meet any loan payments and other operating expenses for a particular property and it may not be possible to have to find a viable alternative source of revenue. If the company managing the investment property does not employ sufficiently aggressive marketing campaigns and/or lease incentive programs, vacancies may increase and an investment in the Realty Mogul 74, LLC may be adversely affected.
Interest Only Loan
The loan being used to acquire the Property is expected to have an interest-only period during the first three years of the term, which means that there will be no reduction in the principal balance during that interest-only period.
Forward-Looking Statements
Investors should not rely on any forward-looking statements made regarding this opportunity, because such statements are inherently uncertain and involve risks. We use words such as “anticipated”, “projected”, “forecasted”, “estimated”, “prospective”, “believes”, “expects”, “plans”, “future”, “intends”, “should”, “can”, “could”, “might”, “potential”, “continue”, “may”, “will” and similar expressions to identify these forward-looking statements.
Illiquid Investment - Transfer Restrictions & No Public Market
The transferability of membership interests in Realty Mogul 74, LLC are restricted both by the operating agreement for that entity and by U.S. federal and state securities laws. In general, investors will not be able to sell or transfer their interests. There is also no public market for the investment interests and none is expected to be available in the future. Persons should not invest if they require any of their investment to be liquid. This is particularly important for persons of retirement age, who should plan carefully to assure that their assets last throughout retirement.
Uncertainty Surrounding Future Sales Price
There is risk associated with the Sponsor being unable to sell the Property as projected.
Interest Rate Risk
The Federal Reserve has methodically reduced the amount of stimulus it was earlier injecting into the U.S. economy, and has signaled that increases in the federal funds rate may be forthcoming. This could potentially lead to rising interest rates offered by other lenders and could have a negative effect on the future value of the Property (since higher loan interest rates might mean that potential buyers would face proportionately higher debt service expenses).
Mortgage Risk
The Sponsor has a signed term sheet with a lender to provide the debt financing for the acquisition of the Property, but there can be no assurance that the lender will complete financing on the rates and terms included in the underwriting being presented in the model for this investment opportunity. All rates and terms of the debt financing are subject to final lender committee approval, including but not limited to a modification in lender held capital reserve requirements that may result in a corresponding movement of certain funds currently projected as being held in a Sponsor controlled capital escrow account.
Management Risk
Investors will be relying solely on the Sponsor for the execution of its business plan. The Sponsor may in turn rely on other key personnel with relevant experience and knowledge, including contractors and consultants. Members of Foster Retail, LLC (including Realty Mogul 74, LLC) will agree to indemnify the manager in certain circumstances, which may result in a financial burden if any litigation results from the execution of the business plan. While the Sponsor has significant operating experience, Foster Retail, LLC will be a newly formed company and has no operating history or record of performance. Realty Mogul 74, LLC is pursuing a venture capital strategy through its investment in Foster Retail, LLC, and the manager of Realty Mogul 74, LLC is expected to be treated as an investment adviser exempt from federal or state registration under this strategy.
Uncertain Distributions
The Sponsor cannot offer any assurances that there will be sufficient cash available to make distributions to its members (including Realty Mogul 74, LLC) from either net cash from operations or proceeds from the sale or refinancing of the asset. Sponsor, in its discretion, may retain any portion of such funds for tenant improvements, tenant refurbishments and other lease-up costs or for working capital reserves. Sponsor has chosen to make distributions quarterly.
Risk of Interest Charges for Sponsor Capital Calls
The amount of capital that may be required by Foster Retail, LLC is unknown, and although Foster Retail, LLC does not require that its members contribute additional capital to it, it may from time to time request additional funds in the form of loans or additional capital. Realty Mogul 74, LLC does not intend to participate in a capital call if one is requested by Foster Retail, LLC, and in such event the manager of Foster Retail, LLC may accept additional contributions from other members of Foster Retail, LLC. Amounts that the manager of Foster Retail, LLC advances on behalf of Realty Mogul 74, LLC will be deemed to be a manager loan at an expected interest rate of 10%. Amounts that are contributed by existing or new members will be deemed to be additional capital contributions, in which case Realty Mogul 74, LLC's interest in Foster Retail, LLC will suffer a proportionate amount of dilution.
Uncertain Exit Timing
Although it is anticipated that the Property will be sold at the end of the expected holding period, the Company may not have any meaningful control over the timing of the sale of the Property, and therefore we cannot offer assurances of when a sale of the Property may occur. If the Property is not sold during the expected holding period the Company may have certain rights (either at that point or at a later time), to force a sale of the Property or force a purchase of the interests of Company, however, if such rights exist they may be subject to other limitations such as the approval of the lender holding the loan secured by the Property and the requirements of the operating agreement of the Sponsor Entity.
General Economic and Market Risks
While the Sponsor has conducted significant research to justify the intended rental rates and sales price relative to comparable properties in the market, its best efforts to forecast economic conditions cannot state for certain whether or not rental rates will be achieved or investor sentiment and the capital markets will be favorable to the Property at the intended disposition date. The real estate market is affected by many factors, such as general economic conditions, the availability of financing, interest rates and other factors, including supply and demand for real estate investments, all of which are beyond the control of the Sponsor.
The above is not intended to be a full discussion of all the risks of this investment. Please see the Risk Factors in the Issuer Document Package for a discussion of additional risks.
The above presentation is based upon information supplied by the Sponsor and others. Realty Mogul, Co., RM Manager, LLC, and Realty Mogul 74, LLC, along with their respective affiliates, officers, directors or representatives (the "RM Parties") hereby advise you that none of them has independently confirmed or verified any of the information contained herein. The RM Parties further make no representations as to the accuracy or completeness of any such information and undertake no obligation now or in the future to update or correct this presentation or any information contained herein.