
The DST is a joint venture between RealtyMogul and Stablewood. With RealtyMogul's diverse real estate experience paired with Stablewood's data-driven net lease retail expertise, the two parties look to acquire and syndicate compelling DST opportunities and provide seamless investor experiences.
Founded on the mission of democratizing the ability to invest in select real estate deals, RealtyMogul offers investment opportunities across property types and markets via private placements, 1031 Exchange properties, and two REITs. Since inception, investors have used the RealtyMogul platform to invest over $1.2B of equity into over $8.0B of properties. RealtyMogul’s commitment to the retail investor has attracted 290k members to register through the website, which has translated to over 40,000 investments made by this base. (1)
Stablewood combines institutional real estate expertise with cutting-edge analytics and advanced technology, establishing itself as a next-generation investment management firm. By leveraging proprietary AI-powered tools and deep market knowledge, Stablewood identifies mispriced assets, emerging credit tenants, and high-renewal-probability investments, creating value throughout the investment lifecycle. Stablewood has acquired over $380M in net lease acquisitions across 115 properties, of which 9 were Tractor Supply assets.
Stablewood has met investor distributions consistently since its inception. Due to their proven track record, they now invest capital on behalf of leading global banks and national insurance firms.
(1) Capital invested includes: (i) common equity investments in real estate companies and funds; (ii) fixed income investments including preferred equity, senior debt, and mezzanine debt in connection with the acquisition or refinance of commercial real estate; (iii) residential debt investments in connection with financing the acquisition, improvement/renovation, and sale of single family homes; and (iii) loans originated for sale which include non-fractionalized loans sold to institutional buyers. Includes capital that has been deployed by, as well as material amounts of committed but undeployed cash held by, affiliated and unaffiliated real estate companies and funds, including cash in real estate funds that has been returned from completed investments. Certain investments are made by Realty Mogul, Co. or its affiliates. This information should not be used as a basis for an investor’s decision to invest. All information and any calculations used herein is based on information from inception through 12/31/2024.
Tractor Supply Lease Comparables
Tenant | MSA | Year Built | Current NOI | Net Rentable SF | NOI / SF | Lease Type |
---|---|---|---|---|---|---|
Tractor Supply (Subject) | Tulsa | 2015 | $323,070 | 18,900 | $17 | NN |
Tractor Supply | Austin | 2008 | $305,700 | 18,782 | $16 | NN |
Tractor Supply | Austin | 2021 | $368,506 | 21,122 | $17 | NN |
Tractor Supply | San Antonio | 2019 | $334,731 | 18,800 | $18 | NN |
Tractor Supply | Houston | 2017 | $372,810 | 21,930 | $17 | NN |
Tractor Supply | Austin | 2017 | $379,523 | 21,702 | $17 | NN |
Tractor Supply | Salt Lake City | 2014 | $361,185 | 21,930 | $16 | NN |
Tractor Supply | Denver | 2018 | $342,752 | 21,930 | $16 | NN |
Averages | $303,387 | $17 |
Tractor Supply Sales Comparables (1)
Location | State | Median HHI (2) | Decade Built | Cap Rate |
---|---|---|---|---|
Suburban | OK | $85,000 | 2015 | 6.50% |
Suburban | AZ | $56,000 | 2020s | 6.25% |
Rural | TX | $55,000 | 2000s | 5.39% |
Suburban | AZ | $55,000 | 2020s | 6.45% |
Rural | OH | $43,000 | 1970s | 6.50% |
Rural | FL | $51,000 | 2010s | 6.40% |
Rural | MD | $76,000 | 2000s | 6.45% |
Rural | MD | $73,000 | 2010s | 6.40% |
Suburban | SC | $45,000 | 2010s | 6.30% |
Rural | TX | $69,000 | 2000s | 6.45% |
Rural | AZ | $58,000 | 2010s | 6.30% |
Suburban | IN | $120,000 | 2010s | 6.35% |
Rural | GA | $45,000 | 2020s | 6.40% |
Rural | SC | $53,000 | 2010s | 6.50% |
Rural | MI | $49,000 | 2000s | 6.25% |
$62,000 | 6.31% |
(1) All transactions, apart from the Subject Property, closed in 2024.
(2) Median HHI is rounded to the nearest thousand.
Use of Proceeds | Amount |
---|---|
Purchase Price | $4,970,308 |
Acquisition Costs | $47,000 |
Acquisition Fee | $149,109 |
Ongoing Expenses | $73,201 |
Carry Costs | $125,000 |
Operating Reserves | $189,000 |
Organization & Offering Expenses | $175,000 |
Placement Fee | $238,692 |
Total Use of Proceeds | $5,967,311 |
Please refer to the RM Net Lease 1, DST - Private Placement Memorandum in the Documents section for details regarding distributions.
You will pay certain fees and compensation over the life of the transaction; please refer to the Sponsor'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 |
---|---|---|
Acquisition Fee | 3.0% of Purchase Price | Stablewood Retail, LLC & RM Net Lease GP, LLC |
Disposition Fee | 3.0% of Exit Price | Stablewood Retail, LLC & RM Net Lease GP, LLC |
Placement Fee (2) | 4.0% of Offering Equity | RM Securities, LLC |
Recurring Fees:
Type of Fee | Amount of Fee | Received By |
---|---|---|
Asset Management Fee | 2.0% of NOI | Stablewood Retail, LLC |
(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.
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 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.