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:
Open for investment
Estimated Hold Period 5 Years
Estimated First Distribution 9/2021
View Our Due Diligence Process
Offered By
Monument Property Management
Investment Strategy Value-Add
Investment Type Equity
Minimum Investment 1
Shenandoah Woods is a value-add opportunity located in Houston, TX.

100% of the unit interiors are in their original condition and are open to deep renovation.


The Property is located right next to highway 290 and 610, providing convenient access around Houston.  The Property is also situated in Oak Forest where there is a potential for land appreciation.


Houston employment grew at an annual rate of 4.3%, which exceeded the pace of hiring in Texas and the nation as a whole.

Property at a glance
Year Built 1977
Number of Units 232
Parking Ratio 1.34 per unit
Number of Buildings 16
Current Occupancy 94.0%
Acquisition Price $19,000,000
Investment Highlights
Monument Property Management is currently under contract for $81,897 per unit, representing a 4.96% cap rate on Year 1 pro forma numbers.
All 232 units are unrenovated and will be renovated.
Refinancing will occur upon renovations and stabilization.
Monument Property Management is solely focused on the Houston area and has almost $200M AUM within the area.
The exit strategy is to sell the property after a 5-year hold at a 5.25% cap rate.
Cumulative Distributions

Monument Property Management

Monument Property Management ("MPM") is a Houston, Texas-based vertically integrated private real estate investment group, with a property management and construction division. MPM focuses on value-add multifamily opportunities, by implementing a thoughtful and strategic cost savings formula, which includes but is not limited to improving the common areas of the properties, upgrading interior units, self-performing many standard maintenances and contract obligations, and regularly assessing and developing operating efficiencies, which in turn creates organic rent growth and generates premium rental income. MPM accomplishes this by utilizing the latest property management & accounting software in order to track progress and accurately report growth (in real-time) to investors.
  • Rajib Batabyal
    Managing Partner
  • Tapan Patel
    Managing Partner
Rajib Batabyal
Managing Partner

Rajib Batabyal has been involved in Houston real estate through financing, acquisition and management for 25 years. His skillset includes but is not limited to thorough understanding of multifamily acquisition, asset management, operations and lending processes. From 1993 to 2008 Rajib was the Vice President of Business Development and Analysis for TTSF Properties where he was involved in continuous market analysis, financial analysis prior to and during the projects, acquisition, financial planning and operation and reporting. His next 7 years were spent presiding over the management of a seven-asset portfolio consisting of 1,376 units as Director of Property Management for ITC Management. Rajib then went on to become the Vice President of Operations at Karya Property Management where he was responsible for operating over 8,000 units across 28 properties before leaving to start Monument Multifamily. Rajib’s vast and diverse experience have made him an expert in identifying assets and maximizing returns. He got his degree in Bachelors of Science from St. Xavier’s University in Calcutta, India and MBA in Marketing in the US. 

Tapan Patel
Managing Partner

Tapan Patel, also fondly known as Paul, has more than 7 years of experience in the real estate industry throughout the Greater Houston Area. He is Director of Operations. Paul started his career as Manager of a privately-owned Red Roof Inn where he was responsible for increasing revenue by $400k in his first two years through efficient management and effective budget controls. In 2010 Paul became Community Manager and Bookkeeper for a property in North Houston, where he became an expert at successfully managing a Multifamily community while remaining within budget. The following year Paul worked as Regional Manager overseeing a three-apartment portfolio in the Houston area. In his time there, despite the downturn Houston experienced, he was able to implement efficiency into the operations of the communities, resulting in an overall 17% reduction in operational expenses and an average of 8% rent increase. His knowledge of how to efficiently run a property and maintain a budget will be paramount to the overall success of the group.  Paul double majored in math and interior architecture from University of Houston and now puts his degree to full use by redesigning and restoring our properties. 

Track Record

Property City, State Asset Type Acq Date Units Purchase Price Sale/Refi Price
Casa Verde Houston, TX Multifamily 9/1/2017 384 $26M $42M
Springwood Park Houston, TX Multifamily 3/1/2018 145 $16M $23M
Madison Park Houston, TX Multifamily 7/1/2018 576 $48M $60M
Vintage Apartments Houston, TX Multifamily 9/1/2018 292 $25M $38M
Raintree Apartments Pasadena, TX Multifamily 3/1/2019 228 $12.6M $18M
Northwest Corners Houston, TX Multifamily 7/1/2019 466 $34M TBD
Block At Montrose Houston, TX Multifamily 9/1/2019 62 $7.6M TBD
Pineforest Park & Place Houston, TX Multifamily 1/1/2020 343 $25.2M TBD
Hollyvale Apartments Houston, TX Multifamily 3/1/2019 38 $1.5M $2.4M
Total       2,534 $195.9M  

The above bios and track record were provided by Monument Property Management and have not been independently verified by RealtyMogul.

Monument Property Management is acquiring the Property at ~$82K per door. The Sponsor is planning to spend $2.8M in CapEx, in order to target an increase in per unit rents by $100+ and turn the Property into one of the leading quality communities in the Garden Oaks area. As renovations progress, the Sponsor plans to refinance the Property after 36 months, capturing the revenue growth upside in the new loan value and allowing for investors to have some principal returned. 

Deep rehabs in each unit will include but are not limited to: new flooring, granite countertops, stainless steel appliances, upgraded cabinets with pulls, tile backsplash, and upgraded light fixtures and hardware. Exterior renovation plans include but are not limited to: refurbishing the pool area, new signage, resurfacing the parking lot, new office, new gym, new windows, new paint, and roof repair.

CapEx Breakdown:

  $ Amount Per Unit Per SF
Interior Renovations      
Kitchen and Bathroom $359,600 $1,550 $2.13
Laminate Flooring $278,400 $1,200 $1.65
Drywall $139,200 $600 $0.83
New Stainless Steal Appliances and AC $465,680 $2,007 $2.76
Oil and Semi Gloss Painting $33,640 $145 $0.20
Trim and Two Panel Doors $121,800 $525 $0.72
New Hardware Blinds and Ceiling Fans $132,240 $570 $0.78
Interior Contigency $212,090 $914 $1.26
Total Interior Renovation Costs $1,742,650 $7,511 $10.34
Exterior Renovations    
Pool Improvement $78,000 $336 $0.46
Fence/Gate $37,000 $159 $0.22
New Signage $38,350 $165 $0.23
Parking Lot Resurface $66,000 $284 $0.39
Office Remodel $68,000 $293 $0.40
Common Area and Lighting $332,000 $1,431 $1.97
Landscaping and Tree Cutting $48,000 $207 $0.28
Roof Repairs $100,000 $431 $0.59
Exterior Contingency $50,000 $216 $0.30
Total Exterior Renovation Costs $817,350 $3,523 $4.85
Construction Management Fee $225,000 $970 $1.34
Grand Total $2,785,000 $12,004 $16.53

These amounts are subject to change at the discretion of the Real Estate Company.

Property Information

Shenandoah Woods is a 232-unit garden-style multifamily community that was built in 1977. The Property is approximately 94% occupied and is located in the Oak Forest submarket of Houston, TX. It is easily accessible by both US-290 and the 610 freeway and is located within a 10-minute drive to the Houston Galleria. 

Unit Mix:

Unit Type # of Units Avg SF/Unit Avg Rent (In-Place) Avg Rent (Stabilized) Post-reno rent per SF
1x1 144 647 $799 $878 $1.36
2x2 88 856 $993 $1,166 $1.36
Total/Averages 232 726 $873 $987 $1.36

Lease Comparables

  Kingswood Village The Heights at 4300 Montabella at Oak Forest Bayou Parc at Oak Forest Tara Oaks Comp Averages Shenandoah Woods Apartments
Address 3233 Magnum Rd 4300 Sherwood Ln 4000 W 34th St 4000 Watonga Blvd 3800 Sherwood Lane   4250 W 34th St
Year Built 1971 1975 1972 1972 1972 1972 1977
Units 390 288 178 392 126 274 232
Average Rental Rate $984 $1,012 $1,568 $958 $865 $1,048 $987
Average SF 812 866 1,112 824 689 854 726
Average $/SF $1.23 $1.18 $1.42 $1.20 $1.26 $1.24 $1.36
# Units (1x1) 199 124   104 103 133 144
$ (1x1) $878 $849   $736 $819 $832 $878
SF (1x1) 663 682   516 650 636 647
$/SF (1x1) $1.32 $1.25   $1.43 $1.26 $1.31 $1.36
# Units (2x2) 191 158 108 240 23 144 88
$ (2x2) $1,095 $1,132 $1,494 $1,021 $1,069 $1,137 $1,166
SF (2x2) 966 999 1,017 880 864 949 856
$/SF (2x2) $1.13 $1.13 $1.47 $1.16 $1.24 $1.20 $1.36
# Units (3x2)   6 66 48   40  
$ (3x2)   $1,237 $1,689 $1,129   $1,442  
SF (3x2)   1,187 1,246 1,210   1,228  
$/SF (3x2)   $1.04 $1.36 $0.93   $1.17  
Distance to Subject 0.7 Miles 1.0 Miles 0.3 Miles 0.9 Miles 0.9 Miles 0.8 Miles  
Notes 93.9% occupied Pool, Playground. 90% occupied. Recently renovated. Gym & Pool. 87% occupied. Recently renovated. Gym & Pool. 90% occupied. Partially renovated. Pool, BBQ & Playground.   Stabilized rents shown. 

Sales Comparables

  Heights at 2121 Ravenwood Vintage Kempwood Place Kempwood Hollow Springwood Park Total/Averages Shenandoah Woods Apartments
Date Dec '18 Oct '18 Dec '16 Aug '18 Aug '18 Mar '18   Jun '26
Submarket  Lazy Brook-Timbergrove Spring Branch East Spring Branch East Spring Shadows Spring Shadows Spring Branch West   Spring Branch East
Year Built 1978 1969 1970 1983 1980 1976 1975 1977
SF 377,832 265,640 335,428 272,540 303,228 172,415 287,847 215,430
Units 504 236 292 387 327 145 315 232
Average SF 750 1,126 1,149 704 927 1,188 974 726
Sale Price $47,000,000 $20,000,000 $25,000,000 $33,827,626 $31,187,000 $16,300,000 $28,885,771 $27,835,857
$/Unit $93,254 $84,746 $85,616 $87,410 $95,373 $112,414 $93,135 $119,982
$/SF $124.39 $75.29 $90.96 $124.12 $102.85 $94.54 $99.29 $129.21
Cap Rate 5.50% N/A N/A N/A N/A N/A 5.50% 5.50%
Distance from Subject (mi.) 2.2 Miles 2.6 Miles 2.4 Miles 5.4 Miles 5.6 Miles 6.6 Miles 3.5 Miles  
Notes 85% occupied. Sold to Arel Capital (Institutional Buyer). Pool, Gym, Playground, and BBQ.  92.8% occupied. Sold to private buyer. Playground. 88% occupied. Pool and Playground.  84.6% occupied at time of sale. Portfolio sale. Gym and pool. 90.8% occupied at time of sale. Portfolio sale. Gym and Pool. 96% occupied at time of sale. Pool.   Pool, Gym, BBQ, and Playground. 
Location Information

Market Overview:

Following several woes during the second half of this cycle, Houston’s economy is facing another test. Rent growth was flat on a trailing three-month basis as of March. After COVID-19 pushed oil prices to an 18-year low, the energy sector was hit hard and many of the metro’s jobs were impacted. With unemployment claims across the state skyrocketing, Houston’s economy will likely continue to contract. Last year, Houston gained 88,000 new jobs, with trade, transportation, and utilities (20.3 percent) accounting for the largest share of the employment base. Despite job growth in the metro surpassing the 1.8 percent U.S. rate by 100 basis points last year, the statewide stay-at-home order has impacted all sectors. Although construction was deemed essential, many contractors temporarily closed their doors, and supply chains were disrupted. An encouraging sign came from the Small Business Administration, which approved loans across Texas totaling nearly $22 billion—more than any other state—through April 13. The Paycheck Protection Program is a lifeline for small businesses struggling to remain open because of the health crisis. Investor appetite remained high during the first quarter of 2020, following last year’s $4.8 billion total transaction volume. The high number of completions during the past five years combined with the robust development pipeline and the effects of the pandemic will likely keep rent growth flat.

Submarket Overview:

The Garden Oaks Submarket is an excellent submarket fundamentals with limited supply in the immediate area, with only 2 apartments under construction. The submarket has experienced occupancy growth of 3.7% over the last year with forecasts projecting rate growth to continue upward. The population within a 3-mile radius has grown 15% between 2010 - 2019 and is projected to increase 7.6% in the next five years. Within a 3-mile radius, the average household income is $93,048 and the average home value is $406,000.

Cap Stack
Sources & Uses

Total Capitalization

Sources of Funds $ Amount $/Unit
Debt $17,750,000 $76,509
GP Investor Equity $550,000 $2,371
LP Investor Equity $4,900,000 $21,121
Total Sources of Funds $23,200,000 $100,000
Uses of Funds $ Amount $/Unit
Purchase Price $19,000,000 $81,897
Rehab Costs $2,785,000 $12,004
Acquisition Fee $190,000 $819
Operating Reserves $100,000 $431
Legal, Closing Costs $200,000 $862
Escrow - Taxes, Insurance $201,652 $869
Lender Closing $310,625 $1,339
Interest Cap Purchase $40,000 $172
Other Transaction Costs(1) $372,723 $1,606
Total Uses of Funds $23,200,000 $100,000

(1) RM Technologies operates the RealtyMogul platform. RM Technologies charges a fixed, non-percentage-based fee for real estate companies to use the marketplace. An estimate of this fee is included in the Closing Costs and is intended to be capitalized into the transaction at the discretion of the Manager. Please note that Monument Property Management's equity contribution may consist of friends and family equity and equity from funds controlled by Monument Property Management. Additionally, the numbers represented above can change prior to closing depending on final loan proceeds, property condition assessments, appraisals, final closing costs, and other lender-mandated expenses.

Debt Assumptions

The expected terms of the debt financing are as follows:

  • Lender: Acres Capital, LLC
  • Term: 3 Years + 1 Year + 1 Year
  • Loan to Cost (Purchase Price + Rehab): 76.5%
  • Estimated Proceeds: $17,750,000
  • Interest Type: Floating
  • Interest Rate: 3.60% + 30-day Libor (0.20% Floor)
  • Interest-Only Period: 3 Years
  • Amortization: N/A
  • Prepayment Terms: Any prepayment of the Loan prior to the 15th Payment Date shall be subject to the payment of all interest which would have accrued on the then outstanding principal balance of the Loan up until the 15th Payment Date as if the prepayment had not occurred. In addition, the Borrower shall pay all interest that would have accrued on the Loan during the applicable month had the prepayment not occurred. 
  • Extension Requirements: The two, 12-month extensions shall be subject to the following: 
    (i) the existence of no Event of Default; 
    (ii) purchase of a replacement Interest Rate LIBOR Cap with a term equal to or greater than the duration of  such extension and otherwise meeting the requirements set forth herein; 
    (iii) payment of an extension fee equal to 0.25% for the 1st extension and 0.50% for the 2nd extension of the  outstanding principal balance of the Loan on the effective date of such extension; 
    (iv) the Loan Amount shall be subject to 75% of MAI appraised “as-is” value of the Property per an updated  appraisal at Lender’s option; 
    (v) an Extension Debt Yield of no less than 7.00% for the 1st extension and 7.25% for the 2nd extension. Extension Debt Yield shall mean, at the time of extension, the ratio of Lender’s determination of underwritten net operating income, (inclusive of the required Replacement Reserve)to Loan Amount; (vi) commencement of 30-year amortization during the 1st extension period. 


  • Refinance Date: 6/1/2023
  • Lender: TBD
  • Term: 10 Years
  • Estimated Proceeds: $18,756,527
  • Interest Type: Fixed
  • Annual Interest Rate: 3.75%
  • Interest-Only Period: 2 Years
  • Amortization: 30 Years

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.

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 funds available for investment or development purposes, on the one hand, but also increases the risk of loss on the other. If the Company were unable to pay the payments on the borrowed funds (called a "default"), the lender might foreclose, and the Company could lose its investment in its property.


Monument Property Management intends to make distributions from RM Investors, LLC as follows:

  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 thereafter. 

Monument Property Management intends to make distributions to investors after the payment of both 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 September 2021 and are projected to continue on a quarterly basis thereafter. Distributions are at the discretion of Monument Property Management, 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
Effective Gross Revenue $2,486,362 $2,755,963 $2,974,262 $3,089,450 $3,197,479
Total Operating Expenses $1,496,358 $1,553,591 $1,611,114 $1,667,446 $1,704,237
Net Operating Income $990,004 $1,202,372 $1,363,148 $1,422,004 $1,493,242
Project-Level Cash Flows            
  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Cash Flow -$5,449,768 $354,500 $497,811 $1,419,111 $656,832 $8,134,355
Investor-Level Cash Flows*            
  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Cash Flow -$3,000,000 $165,146 $244,036 $751,196 $331,575 $4,447,817
Investor-Level Cash Flows - Hypothetical $50,000 Investment*      
  Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Cash Flow -$50,000 $2,752 $4,067 $12,520 $5,526 $74,130

*Returns are net of all fees including RM Admin's 1.0% administrative services fee. 

NO ASSURANCE OF RETURN: The Company's pro-forma projections are based on assumptions regarding future events, such as the timing and extent of the recovery of the residential market and the stabilization of the debt markets. While the Manager 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 Company or its Manager and that could impair the ability of the Company to meet its projections.



Certain fees and compensation will be paid over the life of the transaction; please refer to Monument Property Management's 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 Paid From Notes
Acquisition Fee 1.0% of Purchase Price Monument Capitalization  
Disposition Fee 0.5% of Sale Price Monument Sales Proceeds  
Construction Management Fee $225,000 LCP Property Management Cash Flow 10% of Renovation Costs
Recurring Fees:  
Asset Management Fee 2.0% of Revenue Monument Operating Cash Flow  
Property Management Fee 3.0% of EGI Monument Operating Cash Flow  
Administrative Services Fee 1.0% of Equity Invested* RM Admin(3) Operating Cash Flow  

*Only applies to equity raised through the RealtyMogul Platform

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

(2) RM Technologies operates the RealtyMogul platform. RM Technologies charges a fixed, non-percentage-based fee for real estate companies to use the marketplace. An estimate of this fee is included in the Closing Costs and is intended to be capitalized into the transaction at the discretion of the Manager.

(3) RM Admin will be providing the following services: (a) responding to inbound investor inquiries regarding how to subscribe to the Project, (b) distribution of all annual tax forms (after receipt of same from Project Sponsor), (c) processing distributions that are payable from RM Investors, LLC to Investors, however, RM Admin will not be deemed to have custody of client funds, (d) distribution of all quarterly reports (after receipt of same from Project Sponsor) and (e) summarizing sponsor information on property performance, responding to investor inquiries regarding sponsor performance information as well as the real estate market generally.

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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