FORMALIZED DUE DILIGENCE PROCESS 
Sponsors

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
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Open for pledging
Estimated Hold Period 28 Months
Estimated First Distribution 8/2025
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View Our Due Diligence Process
Investment Returns: Discerning investors don't rely on a single projected return metric as a basis to invest. Rather, when assessing a potential investment, we encourage you to evaluate all information provided by a sponsor including the business plan, assumptions, and risk factors which can be found in the relevant offering documents. This approach is consistent with our requirements as a broker-dealer, which prohibit us from communicating projected returns.
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Montville Industrial Portfolio
Offered By
Diversified Properties, LLC - (Repeat Sponsor)
Investment Strategy Development
Investment Type Equity
Minimum Investment 35000
Overview
Montville Industrial Portfolio is the development of a fully entitled, Class A, 3-building flex industrial business park totaling 109,111 SF in the supply-constrained submarket of Morris County, NJ, located 26 miles west of Manhattan. (Source: CBRE Research)
Investment Highlights
Attractive Location in Morris County, NJ: Situated in Montville, NJ and in the state’s most affluent county (Source: census.gov), the Property benefits from superior connectivity via major highways, providing easy access to Northern New Jersey and New York City. Located at an interchange of I-287, this prime location is expected to attract a high level of interest from potential tenants due to the ongoing shortage of small bay industrial space in the region.
Experienced, Local, and Repeat Sponsor: Diversified Properties, LLC is one of the largest landlords in Montville, owning over 698,000 SF of industrial, office, and self-storage properties. With its headquarters directly across from the Montville Industrial Portfolio site, Diversified Properties, LLC has deep knowledge and expertise in the submarket. This is Diversified Properties, LLC’s third offering on the RealtyMogul platform.
Attractive Economics: The Property represents one of the few new Class A industrial developments in its market area over the past decade. With high barriers to entry for new competitors and lengthy approval processes in the vicinity, the Portfolio's economics are attractive. Comparable properties have commanded premium rents, indicating a favorable market position for the Portfolio upon its completion.
Strong Market Dynamics: The small bay industrial market around Northern and Central New Jersey has shown impressive strength, with 8% year-over-year rent growth and an overall market vacancy of 2.70%. These conditions and robust leasing activity suggest that the Portfolio will enter a market with high demand and limited supply, enhancing its prospects for success and competitive advantage. (Source: CBRE Research)
Fully Entitled with Construction Underway: The site is fully entitled, and the Sponsor closed on the loan in December 2023. Construction began in early March and is expected to be completed in July 2025.
Targeted Tenancy Strategy: The Property is designed to accommodate a variety of tenants. Building A is ideal for service-related tenants, while Buildings B and C are tailored to attract specialized tenants such as Third-Party Logistics providers (3PLs), high-tech firms, pharmaceuticals, and food manufacturers – sectors typically offering higher rents. The Sponsor’s leasing strategy is supported by their understanding of these industries' specific needs and credit profiles, positioning them well for potential build-to-suit deals.
Quality Construction with Potential Upside: The Montville Industrial Portfolio will consist of three small-bay light industrial / flex buildings, well-loaded with a total of 28 dock and drive-in doors for trucks and vans. The Property site plan will also be generously parked, capable of accommodating parking for 296 vehicles as presently planned, with flexibility for deploying a portion of vehicle parking for outdoor fleet vehicle storage.
Management
Cumulative Distributions

Diversified Properties, LLC - (Repeat Sponsor)

Diversified Properties, LLC is a Montville, N.J.-based residential and commercial development and management company founded in 2000, specializing in value creation through the successful execution of multifamily, office, self-storage, retail, and industrial ground-up development and redevelopment projects throughout the northeastern United States. The sponsor utilizes its substantial in-house expertise in acquisitions, architectural and engineering design, land use, entitlements, construction, leasing, sales, and property management, within an agile and scalable operational structure to capitalize on opportunities in key growth markets. Diversified Properties, LLC has developed real estate valued at over $1.5 billion and boasts a portfolio valued in excess of $500 million.

With deep experience in multifamily development and management, Diversified Properties has successfully created dozens of multifamily communities comprising over 10,000 units across N.J., N.Y., PA, MD, and CT and, today manages an existing and development pipeline spanning 4,000 residential units across 10 diverse communities.

The company’s founder, Nicholas Minoia, has also brought over 750,000 square feet of office, self-storage, retail, and industrial space to the market since 2000 and today manages a portfolio comprised of over 350,000 square feet of commercial space that is home to over 50 commercial tenants and includes approximately 1,000 residential units.

Highlighting their leadership position in N.J.’s real estate community, the sponsor was recognized as one of the state’s Leaders in Real Estate, Construction and Design by NJBIZ. Founder Nicholas Minoia was also named to NJBIZ's Power 50 in Real Estate list in 2021, 2022, and 2023, was selected as a GlobeSt Real Estate Forum Multifamily Influencer in 2021, was named a Real Estate Influencer by ROI-NJ in 2022 and 2023 and made NJBIZ’s 2023 ICON Honors list.

https://diversifiedproperties.com/
  • Nicholas W. Minoia
    Managing and Founding Partner
Nicholas W. Minoia
Managing and Founding Partner

Nicholas Minoia is the Founding and Managing Partner of Diversified Properties. Founded in 2000, Minoia’s leadership has helped Diversified Properties and affiliated entities successfully create dozens of multifamily communities comprising over 10,000 units across N.J., N.Y., Pa., MD, and CT and manage an existing portfolio and development pipeline spanning several thousand residential units across multiple properties in three different states. His vision has also brought over 750,000 square feet of office, self-storage, retail, and industrial space to the market since 2000 and today manages a portfolio comprised of over 350,000 square feet of commercial space that is home to over 50 commercial tenants and includes approximately 1,000 residential units.

Minoia began his career as a project manager for various Manhattan-based real estate developers, managing projects including a new mid-rise residential tower and a 40-story building at Lexington and 57th Street. He went on to be President of Real Estate Subsidiaries for a Bergen County Savings & Loan institution, where he was responsible for loan workouts, liquidation of joint ventures, and REO. In 1992, Minoia co-founded Pinnacle Communities, an affiliated Garden Homes Company based in Short Hills, N.J.

With Pinnacle Communities, Minoia oversaw the construction of luxury custom single-family homes, townhomes, and condominium communities and the acquisition and development of apartment complexes, office buildings, industrial spaces, and retail properties. In 1998, he continued his climb up the corporate ladder, becoming President of Westminster Communities, one of the largest private development companies in the Northeast. Under Minoia’s leadership, in just two years, the company was responsible for the construction and development of several thousand residential units, including several large-scale redevelopment projects.

Currently, Minoia serves as a board member for ConnectOne Bank, a chartered New Jersey commercial bank that provides various commercial banking products and services. Included in his role, Minoia serves on ConnectOne Bank’s Corporate Governance and Audit Committee and is also the Chairman of the Loan Committee. In addition, he is a member of the Board of Trustees of RWJBarnabas Health’s Clara Maass Medical Center, a fully accredited acute care facility offering world‐class medical treatment to patients across northern New Jersey. Minoia also serves as a Trustee for the Summit Conservancy, a non-profit organization that creates positive and lasting environmental change.

Throughout his career, Minoia has been recognized as a leading executive in the New Jersey commercial real estate industry, as exemplified by his recent selections to NJBIZ’s 2022 Real Estate Power 50 list, ROI-NJ’s 2022 Real Estate Influencer’s list and NJBIZ’s 2023 ICON Honors list among others.

Track Record

No. Property City, State Asset Type Project Status Units or SF Cost/Stabilized Value*
Built & Under Current Management  
1 Summit Lane Newburgh, NY Multifamily Operating 188 Units $44,600,000
2 Summit Terrace New Windsor, NY Multifamily Operating 270 Units $61,700,000
3 Summit Court Phase 1 Union, NJ Multifamily Operating 129 Units $58,500,000
4 Summit Court Phase 2 & 3* Union, NJ Multifamily Operating 264 Units $99,900,000
5 Meadow Ridge Newburgh, NY Multifamily Operating 185 Units $10,000,000
6 30 Court Morristown, NJ Multifamily Operating 58 Units $35,000,000
7 The Promenade Summit, NJ Mixed Use Operating 22 Units, 16,000 SF retail $17,990,000
8 45 & 47 River Road Summit, NJ Office Operating 12,000 sf office $3,513,716
9 350 Main Road Montville, NJ Office Operating 34,000 sf existing office/commercial $5,628,000
10 1, 45 & 47 Indian Lane Montville, NJ Industrial Operating 42,000 sf industrial + excess IOS land $12,000,000
11 1,2,3,6,9 Mars Court Montville, NJ Industrial Operating 105,000 sf industrial $11,500,000
12 Bergenfield Industrial Bergenfield, NJ Industrial Operating 49,961 sf industrial $3,100,000
             
Under Current Construction  
13 Farms at Stony Hill LLC Bethel, CT Multifamily Development 117 Units $38,000,000
14 Jefferson Place Jefferson, NJ Multifamily Development 107 Units $50,000,000
15 Rt. 17k Self-Storage Montgomery, NY Self-Storage Development 80,400 sf self-storage $14,589,000
16 Irondale @ Wharton Wharton, NJ Multifamily Development 60 Units $19,500,000
             
Master Developer / Fee Builder  
17 Lighthouse Landing Ventures LLC Sleepy Hollow, NY Mixed Use Development 1,177 Residential, 135,000 sf retail, and 35,000 sf office $50,000,000 (Land Only)
18 Hudson Heritage Redevelopment Poughkeepsie, NY Mixed Use Development 750 Residential, 350,000 sf retail $5,000,000 (Land Only)
             
Built and Sold
19 480 Flatz East Rutherford, NJ Multifamily Sold 35 Units $11,600,000
20 Summerhill Road East Brunswick, NJ Mixed Use Sold 120 Units & 2 Retail Pads $18,000,000
21 Hackensack Self-Storage Hackensack, NJ Self-Storage Sold 67,000 sf self-storage $10,000,000
22 Cubesmart Self-Storage Montville, NJ Self-Storage Operating 100,000 sf self-storage $23,500,000
23 Summit Ridge Allentown, PA Multifamily Sold 204 Units $45,000,000
24 High Ridge Montville, NJ For Sale Single Family Sold 100 Single Family Homes $60,000,000
25 Longview Townhome Community Montville, NJ For Sale Townhomes Sold 400 Town Homes $190,000,000
26 Long Branch Partners Redevelopment Long Branch, NJ  Land Sold 53 Parcel Assemblage $21,600,000
27 Bear's Nest Park Ridge, NJ For Sale Townhomes Sold 150 Town Homes $95,000,000
Total           $1,015,220,716
* Summit Court is a 2 phase, 393 unit project (42 affordable units).  Phases I & 2 complete.  Values based on $450,000 per market-rate unit comparable trade.  

The above biography and track record were provided by the Sponsor and have not been independently verified by RM Securities, LLC or its affiliates. Past performance is not indicative of future results. Please carefully review the Disclaimers section below.

Cap Stack
Sources & Uses

Total Capitalization

Sources of Funds $ Amount
Senior Debt $17,880,000
GP Equity(1) $1,210,732
LP Equity $10,896,586
Total Sources $29,987,318
   
Uses of Funds $ Amount
Land Costs $7,743,029
Hard Costs $16,611,400
Soft Costs $3,725,677
Interest Reserve $1,807,212
Financing Fees $100,000
Total Uses $29,987,318

(1) 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:

Senior Debt  
Lender ConnectOne Bank
Loan Amount $17,880,000
LTC 59.6%
Loan Type Construction Loan
Interest Rate Type Floating
Index Prime Rate - Wall Street Journal
Spread Over Index 0.00% + Prime Rate, with an Interest Rate Floor of 7.50%
Interest-Only Period 24 Months
Loan Term 24 Months
Recourse Description Full Recourse
Extension Option One (1) Six-Month Extension Option, at the Lender's Discretion.
   
Refinance Assumptions
Refi Month Month 24
Loan Amount $25,000,000
LTV 66%
DSCR 1.20
Interest Rate 6%
Amortization 360 Months
I/O Period 0 Months
Loan Term 60 Months

(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. 

Distributions

Diversified Properties, LLC intends to make distributions as follows:

  1. Pari passu all cash flow available for distribution to the Equity Investors until the Equity Investors receive an 8.00% IRR;
  2. 75% / 25% (75% to Equity Investors / 25% to Promoted/Carried Interest) of all cash flow available for distribution to a 12.0% IRR;
  3. 70% / 30% (70% to Equity Investors / 30% to Promoted/Carried Interest) of all cash flow available for distribution to a 15.0% IRR;
  4. 60% / 40% (60% to Equity Investors / 40% to Promoted/Carried Interest) of all cash flow available for distribution thereafter.

Diversified Properties, LLC 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 August 2025 and are projected to continue on a quarterly basis thereafter. Distributions are at the discretion of Diversified Properties, LLC, who may decide to delay distributions for any reason, including maintenance or capital reserves.

Diversified Properties, LLC will receive a promoted/carried interest as indicated above.

 

Fees

You will pay certain fees over the life of the transaction; please refer to Diversified Properties, LLC's 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
Platform Fee Flat One-Time Fee of $15,000 RM Securities, LLC Capitalized Equity Contribution
Placement Fee(2) 4.00% of the Raised Amount up to $2 million, plus 3.50% of the Raised Amount in excess of $2 million. RM Securities, LLC Capitalized Equity Contribution
Marketing Fee Flat One-Time Fee of $25,000 RM Securities, LLC Capitalized Equity Contribution

Recurring Fees:

Type of Fee Amount of Fee Received By Paid From
Property Management Fee 4.00% of Effective Gross Income Diversified Properties Cash Flow
Construction Management Fee 5.00% of Hard Costs Diversified Properties Construction Expenditure Budget
Developer Fee 4.00% of Hard Cost and Soft Costs Before Contingency Diversified Properties Construction Expenditure Budget
Administration Solution Licensing Fee(2) 1.00% per annum of the aggregate capital contributions of the RM platform investor for whom RM Technologies provides the Administration Solution. RM Technologies, LLC Cash Flow / Capitalized Equity Contribution


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

(2) For more information on the fees paid to RM Securities and its affiliates 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.

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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