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.

Detailed Checklists

We have formalized processes and checklists for every private placement deal listed on the platform.

Confidentiality Agreement
To access the Sponsor’s private offering documents for this investment, you must first acknowledge and agree to the below.
By clicking the ‘I Agree’ button below:
Estimated Hold Period 5 Years
Estimated First Distribution 5/2024
View Our Due Diligence Process
Offered By
RM Communities
Investment Strategy Core Plus
Investment Type Equity
Minimum Investment 35000
223 E Town Apartments is a 2017 vintage, 84-unit asset featuring attractive floorplans and a thriving restaurant and coffee bar in the heart of Downtown Columbus, Ohio.


Please ensure you review the “Closing Update Letter” provided on the website prior to making an investment. The Closing Update Letter supersedes any other information provided on the website or relevant offering documents, including updated figures for the Capital Stack, Sources & Uses, Debt Assumptions & Return metrics. 

Asset Quality
223 E Town Apartments is a newer construction midrise luxury apartment complex advantageously positioned in a top tier micro-location within Downtown Columbus. Units feature market leading, high-end finishes coupled with picturesque downtown views. Community amenities at the property include a bustling ground-floor restaurant and café, rooftop fitness center, sprawling terrace lounge with grills and firepits, resident lounge, large structured parking garage, and secure access. The ground-floor restaurant exercised its first lease extension through February of 2034, mitigating near-term turnover risk. New, tech-enabled apartment communities are in high demand among the young, educated, and well-paid tenant base in Downtown Columbus, and the business plan is designed to further enhance the property’s appeal through light enhancements to units such as adding technology packages and adding backsplashes and gooseneck faucets to the kitchens.
Cash Flow

The property benefits from a tax abatement on 90% of improvements through 2034, mitigating post-sale tax assessment risk and bolstering cash flows during the hold, both for RM Communities investors and a future buyer at the end of RM Communities’ business plan. The current underwritten five-year hold ensures the next buyer will have six years remaining on the tax abatement. In addition to the tax abatement, the property presents an opportunity to assume attractive debt at a below-market 4.93% fixed interest rate, reducing any potential interest rate risk leading up to our close and enhancing projected free cash flow during the business plan. The tax abatement and assumable financing, combined with the operational improvements and rental mark-to-market serve to maximize the potential for durable investor cash flows during the hold period.

223 E Town Apartments is located in the heart of Downtown Columbus, a booming metro with countless walkable amenities. A state capital and anchored by The Ohio State University, the Columbus metropolitan region ranks first among Midwest metro areas for population, job, and wage growth. In addition to these positive rankings for the MSA, 223 E Town Apartments is immediately poised to benefit from the expansion of the OhioHealth and Grant Medical Center, half a block from the property. The project is expected to add hundreds of new medical jobs to this micro-location and is set to deliver in 2028, the same year as the exit in the current business plan. The property is also strategically positioned with proximity to Nationwide Children’s Hospital, which is currently undergoing a $3.3B expansion with expected delivery in 2026. The property has an ongoing relationship with Nationwide Children’s Hospital and has six units leased by families of patients at the hospital. The average income within a two-mile radius of the Property is over $80,000  and the Downtown Columbus population is highly educated, with 42% of its residents holding a bachelor’s degree or higher; this is 8.3% greater than the national average.
Property at a glance
# of Units 84
Year Built 2017
Current Occupancy 93%
Submarket Discovery District
Class A
Acquisition Price $19,600,000
Investment Highlights
RM Communities is under contract to acquire 223 E Town Apartments at a purchase price of $19.6M. RM Communities will assume the in-place $14.1M loan to acquire the asset.
Current rents at the property are approximately $200 below nearby comparable assets. Upon acquisition, RM Communities will commence a light physical and operational value-add execution to assist in raising rents to meet the market.
The Property benefits from a tax abatement on 90% of improvements through 2034. The tax abatement will have a significant remaining term at exit, enhancing the appeal of the property to the next buyer.
This acquisition presents the opportunity to assume a 71.9% LTV loan at an attractive 4.93% fixed interest rate with five months of interest-only payments remaining.
The assumable debt mitigates all interest rate risk in today’s uncertain environment and assists in growing cash flow to investors as the interest rate is well below where new debt would be priced.
The current business plan projects a 5-year hold with an exit at a 5.4% cap rate. This exit cap rate is well above recent sale comps.
Columbus is dedicated to economic expansion and making the city attractive to new businesses.
The Columbus metro region ranks first among Midwest metro areas for population, job, and wage growth.
Columbus is home to many notable employers and has drawn the attention of venture capital firms.
Ohio set a record for VC investment in 2021 with over $2B invested in the state and over 66% of the money going to Columbus-based companies.
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 2,200 multifamily units and over $350 million in real estate with a fully dedicated team of acquisitions, underwriting and asset management professionals.(1)

(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 NNN 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 Closed
223 E. Town Street Columbus, OH A 84 2017 $19,600,000 $301,566 Pending
Hunters Ridge Apartments East Lansing, MI B 170 2004 $34,650,000 $2,056,660 Pending
Total     2,353   $392,551,000 $26,809,225  

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.

RM Communities will assume the in-place $14.1M loan to acquire and operate the property to maximize the combined benefit of attractive assumable debt and the long-term 90% tax abatement on the value of improvements through 2034.

The current business plan includes a light capital investment into unit interiors to add backsplashes and gooseneck faucets to the kitchens and install a smart home package, all of which are found at nearby Class A competing assets. The monthly fee for a technology package in this submarket is $45 and we anticipate an additional $25 rental premium for enhancing the kitchen.

RM Communities also received quotes for a bulk internet program which is commonplace in newer vintage, Class A, Downtown Columbus multifamily assets. The bulk internet program is contemplated to begin in year 2 of the investment and its return on cost is projected to be just under 50% once stabilized.

The ground floor retail tenant, The Woodbury, is an upscale restaurant that features an eclectic menu of bistro classics, all-day breakfast, and craft cocktails that attracts prospective renters to the Property and serves as an amenity to existing residents. As a part of the closing conditions, the tenant is exercising their first lease extension option through 2034 with scheduled rent increases in 2024 and 2029.

The property features significantly more internal garage parking per unit than a typical Downtown Columbus property and, per our extensive comp analysis, is undercharging for parking. As an example, the nearest comp, Xander on State, has a <50% garage parking ratio. Our plan is to implement a reserved parking program of 20 spaces for $200 per month and increase unreserved garage parking to $150 per month. Further underscoring the demand for these spaces, the 223 E Town garage has consistently maintained a waiting list for additional parking spaces.

The property manager has extensive experience in the Columbus market and actively participated in finalizing our business plan and operating budget for this asset. They are locally equipped to manage its daily operations.

Capital Improvement Budget

Summary Total Per Unit
Interior Upgrades $193,200 $2,300
Deferred Maintenance (Contingency) $70,000 $833
Replacement Reserves $51,096 $608
Capital Expenditure Contingency (10%) $26,320 $313
Total $340,616 $4,055
Interior Upgrades (84 Units) Total Per Unit
Kitchen Backsplash $50,400 $600
Gooseneck Faucets $50,400 $600
Technology Package $92,400 $1,100
Total $193,200 $2,300


Property Information
223 E Town Apartments is a 2017 vintage, 84-unit asset featuring attractive floorplans and a 4,700 SF thriving restaurant and coffee bar in the heart of Downtown Columbus, OH. Unit interiors feature stainless appliances, hard-surface counters, drop-in sinks, in-unit laundry, walk-in closets, 9’ ceilings, and other high-end finishes. Community amenities at the asset include a ground-floor restaurant/café, fitness center, sprawling terrace lounge with grills and firepits, clubhouse, and secure access. 



Unit SF

Total SF

In-Place Rent

Stabilized Rent



1/1 S







1/1 M







1/1 L














2/2 S







2/2 M







2/2 L







2/2 XL







Lease Comparables

Property The Nicholas Normandy Industry Columbus Xander on State 250 High Averages 223 E Town
Distance to Subject 0.7 Miles 0.7 Miles 0.6 Miles 0.3 Miles 0.4 Miles 0.5 Miles  
Year Built 2019 2014 2020 2020 2015 2018 2017
Number of Units 230 268 236 221 121 215 84
1/1 S Studio Studio          
$ / Unit $1,490 $1,367 $1,373 $1,340   $1,393 $1,350
SF 602 582 646 631   615 644
$ / SF $2.48 $2.35 $2.13 $2.12   $2.26 $2.10
1/1 M              
$ / Unit $1,627 $1,529     $1,449 $1,535 $1,500
SF 690 715     725 710 725
$ / SF $2.36 $2.14     $2.00 $2.16 $2.07
1/1 L              
$ / Unit $1,844 $1,555 $1,668   $1,684 $1,688 $1,525
SF 796 815 825   830 817 783
$ / SF $2.32 $1.91 $2.02   $2.03 $2.07 $1.95
2/1 2/2 2/2   2/2      
$ / Unit $2,215 $1,929   $2,055   $2,066 $1,950
SF 1,046 1,004   938   996 982
$ / SF $2.12 $1.92   $2.19   $2.07 $1.99
2/2 S              
$ / Unit $2,215 $1,929   $2,020   $2,055 $1,975
SF 1,046 1,004   963   1,004 1027
$ / SF $2.12 $1.92   $2.10   $2.05 $1.92
2/2 M              
$ / Unit $2,310 $2,355 $2,135 $2,005   $2,201 $2,175
SF 1,113 1,200 1,164 1,031   1,127 1,138
$ / SF $2.08 $1.96 $1.83 $1.94   $1.95 $1.91
2/2 L              
$ / Unit $2,601 $2,355       $2,478 $2,325
SF 1198 1200       1,199 1,214
$ / SF $2.17 $1.96       $2.07 $1.92
2/2 XL              
$ / Unit $2,513 $2,355 $2,235   $2,497 $2,400 $2,375
SF 1,270 1,200 1,270   1370 1,278 1,321
$ / SF $1.98 $1.96 $1.76   $1.82 $1.88 $1.80

Sales Comparables

Property Name

Submarket Name

Property Address


Sale Date

Sale Price

Number of Units

Net Rentable SF

Price per Unit

Price per SF

Year Built

Building Class

223 E Town Apartments

Discovery District

223 E Town St










The Jerome

Victorian Village

1025 Dennison Ave










The Gemma

Olde Town East

1117 Oak St










The Yardley


122 Parsons Ave










Luxe 23

Downtown Columbus

1079 N High St










Industry Columbus

Discovery District

230 E Long St











Location Information

Location: Columbus, Ohio

The latest census data places Columbus among the fastest growing in the nation, with population increasing 15% since 2010. (1)

The Ohio State University provides stability to the market in terms of housing demand, from both students and faculty. (1)

Major investments from companies like Intel and Honda are adding new jobs to the region and will further support the need for housing as employees move into the area. (1)

Just outside of Columbus, Intel is planning to invest more than $20B in the construction of two new leading-edge chip factories in Ohio to boost production to meet demand for advanced semiconductors and power a new generation of innovative products.

Columbus is home to many notable employers and has drawn the attention of venture capital firms. Ohio set a record for VC investment in 2021 with over $2B invested in the state and over 66% of the money going to Columbus-based companies.

Costar reports Columbus rents grew 3.8% YoY as of the end of 23Q2. CoStar projects Columbus rents to grow an average 4.2% annually over the next three years and 3.7% annually over the next five years. CoStar projects Columbus’ multifamily absorption to remain in line with deliveries over the next five years.

Submarket Overview: Discovery District

The Discovery District submarket is part of the Downtown Columbus Submarket Cluster. Downtown Columbus boasts the highest rents in the market, reflecting an outsized share of new units in recent years. Asking rents average $1,570/month, or 25% above the market average. (1)

Costar projects Downtown Columbus rents to grow an average 3.9% annually for the next three years and 3.5% annually for the next five years. Additionally, Costar projects submarket absorption to outpace new deliveries by about 200 units over the next five years. (1)

Downtown Columbus is seeing significant investment in its medical industry, with Nationwide Children’s Hospital underway on a $3.3B expansion, its largest expansion in its 129-year history. The project is projected to add 302 beds in a new, state-of-the-art 750,000 square foot tower by 2026.

Similarly, OhioHealth and Grant Medical Center recently announced a $400mm expansion of their Downtown Columbus location. The project is expected to add hundreds of new medical jobs to this micro-location and is set to deliver in 2028.

Surrounded by an educated, young, and affluent population in an area dominated by renters, demand in downtown Columbus is further supported by expensive and limited for-sale inventory and the growing allure of urban living across all cohorts.

Downtown Columbus is home to an abundance of sporting & cultural opportunities – including a new major league soccer stadium, an award-winning baseball stadium, a national hockey team, the Columbus Symphony Orchestra, Opera Columbus, BalletMet Columbus, The Columbus Museum of Modern Art, The Lincoln Theatre, and the Center of Science and Industry.

(1) CoStar

Cap Stack
Sources & Uses

Total Capitalization



Amount per Unit


Senior Loan




Investor Equity




Total Sources







Amount per Unit


Purchase Price




Loan Fee




Non-Recourse Carveout Guarantor Fee $70,445 $839 0.3%

Closing Costs




CapEx Budget




Seller Credit ($344,000) ($4,095) -1.6%

Acquisition Fee




Taxes and Insurance




Working Capital




Excess Working Capital Reserve (1) $270,064 $3,215 1.3%

Total Uses




(1) The seller is providing a credit of $344,000 at close that will provide excess working capital during the first year of operation. Excess working capital, including net of any guarantor fee that may be necessitated by lender requirements, will be held in reserves and distributed to investors at the end of year 1.

Debt Assumptions

The expected terms of the debt financing are as follows:

  • Loan Type: Assumable/Fixed
  • Lender/Servicer: Bank of America/Midland
  • Total Loan Amount: $14,089,000
  • Loan Term Remaining: 5.4 Years
  • Interest Rate: 4.93%
  • Interest-Only Remaining: 0.4 Years
  • Amortization: 30 Years
  • Initial Loan-to-Value: 71.9%
  • Loan-to-Cost(1): 70.7%
  • Extension Options: N/A

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 for 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.

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


RM Communities intends to make distributions from 223 E Town Investors, LLC 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 May 2024 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 Year 5 (2) Reversion (3)
Effective Gross Income (EGI) $1,873,380 $2,120,433 $2,212,008 $2,286,060 $2,351,806 $2,435,437
Expense $626,114 $672,206 $706,697 $726,597 $746,611 $1,142,489
Net Operating Income $1,247,267 $1,448,227 $1,505,311 $1,559,464 $1,605,195 $1,292,948
Total Property Cash Flow $680,481 (1) $515,650 $571,345 $624,387 $13,461,745  
Projected Investor Cash Flow
  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Investor-Level Cash Flows - Hypothetical $50,000 Investment(3)  ($50,000) $4,632 $3,756 $4,062 $4,316 $82,937

(1) Includes assumed return of excess working capital following the first year of operations.

(2) Year 5 cash flows include the projected sale of the Property.

(3) Reversion Expenses and Net Operating Income are tax-adjusted without the tax abatement based on the projected purchase price at sale.

(4) Projected returns are net of all fees.

(5) The Company's pro forma projections are based on assumptions regarding future events, such as the condition of the local residential market and the stabilization of the debt markets. While the Company believes that these assumptions are reasonable and achievable, the likelihood of its occurrence is subject to many factors that are not within the control of the Owner or its Manager and that could impair the ability of the Property to meet the projections. Please carefully review the disclosures and risks in this presentation and in the Company’s Investment Documents.

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)(3):

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
Non-Recourse Carveout Guarantor Fee (2) 0.5% of Assumed Loan Amount CEO of RM Communities
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 3.0% of Effective Gross Income (EGI) or $35 per unit AMC, LLC, 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) The lender may require a warm body guarantor in connection with the loan assumption. If required by the lender, the CEO of RM Communities will be paid this fee in connection with serving as the guarantor and facilitating the loan assumption.

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

The above table is a summary and there may be additional fees and expenses associated with this offering. Please carefully review the Disclaimers on page 2 of the Project Summary. Please carefully review the disclosures and risks in this presentation and in the Company’s Investment Documents.

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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