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Retail
Waterside Commons Retail Center
Richmond, TX
Funded
100% funded
...
Waterside Commons Retail Center
Richmond, TX
All Investments > Waterside Commons Retail Center
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Overview
Waterside Commons Retail Center
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Details
Estimated Hold Period 5 to 10 years
Investment Strategy Value-Add
Investment Type Equity
Sponsor Documents
The offering documents above 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.
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Management
Zenda Properties

Zenda Properties ("Zenda"), based in Montreal, Quebec, was formed by Gerald Levy in 1992. Gerald Levy is also a lawyer, licensed to practice in both the province of Quebec and the state of Arizona. Mr. Levy has over 30 years of experience as owner, manager and advisor, both in Canada and the United States.

Zenda was formed to invest in and manage real estate in its own name, with partners and with investors. Over the last 30 years, Zenda has earned a successful track record in all facets of commercial office, retail and industrial real estate development and management. They have developed extensive expertise in establishing and managing co-investment relationships. Zenda has been acquiring and managing commercial real estate properties in the US and Canada for over 30 years and has acquired over $125 million of properties in the last 10 years. Zenda currently owns and manages over 815,000 rentable square feet of retail, office, and industrial properties across the US and Canada.

Zenda has the experience and acumen required to deal with the cyclical nature of the real estate market. Whether the issue is a potential investment or finding a solution to an existing real estate problem, Zenda has the necessary hands-on expertise and tools to take the right course of action.  The experience gained as owners, developers, investors, lawyers, managers and consultants gives Zenda a unique perspective and a broader viewpoint of real estate issues and opportunities. 

This is the second opportunity for Realty Mogul investors to invest alongside this management team.

Management Team
Management
Gerald Levy - President of Zenda Properties
Gerald E. Levy is an attorney licensed to practice in the Province of Quebec and in the State of Arizona.  Gerry has been practicing law in Quebec and Arizona, specializing in real estate, since 1977. Gerry moved from Tucson, Arizona to Montreal, Quebec in 1986 and joined Canderel Ltd., a real estate development company, as Legal Counsel and Vice-President responsible for the administration of its Montreal operations. In 1992, Gerry began to provide consulting expertise to various individuals and corporations and other professionals in the field of real estate, marketing and general business administration. In addition, Gerry created several partnerships to acquire, develop and manage real estate projects in the United States and Canada.
Management
William Levy - Vice President of Zenda Properties
William graduated with a Bachelor of Commerce from McGill University in 1999. He spent much of the next 3 years working part-time for Zenda assisting in the creation of Zenda Properties G.P. and aiding in the acquisition of Zenda’s first properties. In 2003, William graduated from York University’s Schulich School of Business with an M.B.A. specializing in Real Estate Finance and Investment. In January 2004, William joined Zenda on a full-time basis as the company’s Financial Analyst. Since 1999, William has been intricately involved in all aspects of real estate investing and ownership, including acquisitions, development, property management, and dispositions. During that time Zenda has bought, developed, managed, and sold almost $100 million of commercial real estate.
Management
Michael Levy - Vice President of Asset Management

Michael graduated from McGill University in 2006. He then went on to work as a financial analyst in the Montreal office of Montrose Mortgage, a national, full service mortgage banking organization and brokerage firm. As an analyst, Michael was involved in many areas of real estate underwriting including construction financing, residential, retail and office financing, property analysis, market sensitivity analysis, loan renewals, and negotiating with institutional clients and investors. In the fall of 2007 Michael went on to work as the in-house leasing agent and property manager for a regional commercial/residential landlord. His responsibilities were varied including, but not limited to marketing both the company as well as available space, negotiating, structuring and drafting leases for all property types as well as the typical responsibilities of a commercial/residential property manager. Michael joined Zenda in 2009 and his responsibilities are primarily focused on local acquisitions, development projects and both asset and property management as well as the general marketing of The Zenda Group.

Management
Poliana Dutu – Controller

Poliana graduated with a Bachelor of Commerce and majored in accounting from Concordia University in 2004. She is presently a candidate to the order of CGA of Quebec. Poliana began her career in Real Estate Accounting by working for the real estate division of Buffalo Jeans for two years where she performed various accounting functions, with a focus on property acquisitions. In 2005, she moved on to work as Assistant Controller for a multi-entity North American property management firm with a vast portfolio of commercial and residential properties located in Canada and the United States. In addition to overseeing all the financial matters and preparing the financial statements of the various entities, Poliana was involved in the management of the properties, acting as a liaison between owners, leasing agents, property managers and tenants. In 2009, Poliana joined Zenda as Controller where she manages the accounting team and is actively involved in all the property management aspects of the company.

Management
Maria Rupnik – Manager

Maria has extensive experience in all aspects of real estate, with particular emphasis on lease administration, accounting and tenant/supplier relations. Maria worked at Laurentian Bank as the executive assistant to the Vice-President of Information Systems for six years. In 1993, Maria moved on to work for an international real estate developer with properties located both in Canada and the United States. Maria was involved in property management and investor relations in addition to performing many of the accounting functions. In 1996, Maria joined Zenda in the role of administrator and has been actively involved in all property acquisitions, management and sales.

Management
Jorge Runciman - Accounting Bookkeeper

Jorge has over 10 years of accounting experience, working in the full accounting cycle at various companies both in North and South America. His main responsibilities included analyzing financial statements and preparing accruals as well as bank reconciliations. Jorge joined the Zenda team in 2011, where he continues to develop his accounting skills. He works directly with the controller and is responsible for the preparation of lease abstracts, tenant payments and payables.

Management
Taline Kilejian – Administrator

Taline has office administration and accounting experience. Taline worked for a major middle-Eastern kitchen and laundry equipment supplier for eight years. Her primary responsibilities included correspondence with suppliers and clients as well as accounting. In 2007, Taline joined Zenda, where she has continued to develop her accounting and investor relations skills.

Property
Address: 9825 South Mason Road
Richmond, Texas 77469
Year Built: 2008
Current Occupancy: 93.0%
Net Rentable Area: 39,779 square feet
Parking: 166 spaces
4.2 spaces per 1,000 square feet of rentable area
Access: From both Mason Rd. and Lewisville Dr. via three (3) points of access
Current Rent Roll
TENANT NAME SQUARE FOOTAGE CURRENTLY LEASED
Ace Hardware 10,112
Las Mananitas Restaurant 4,847
Strong Martial Arts 4,681
Waterside Dental 2,850
Friendship Animal Hospital 2,554
Snap Fitness 2,066
Shipley Do-Nuts 1,750
Classic Cleaners 1,450
Zena Salon 1,433
Nationwide Insurance 1,425
Subway 1,400
Model Nails 1,400
Edward Jones & Co. 1,069

Waterside Commons Shopping Center was built in 2008 and was constructed in a "reverse-L" configuration in order to give tenants enhanced visibility from the street and highway. The center consists of one building situated on approximately 3.9 acres of land.

Major Tenants

 Ace Hardware is an international chain of local hardware stores with over 4,700 locations. It is the anchor tenant at Waterside Commons with a total space of over 10,000 sq. ft. It is currently under lease until 2019. Included in its premises is a Benjamin Moore Paints under similar lease terms.

 Subway is the world’s largest submarine sandwich chain with more than 39,000 locations worldwide. It is currently leasing 1,400 sq. ft. at Waterside Commons and is under lease until 2018.

 Edward Jones Investments is a full-service brokerage firm with over 7 million investor clients and 12,000 investment advisors throughout the USA. It currently lease 1,069 sq. ft. at Waterside Commons and are under lease until mid-2014 when it is expected to exercise its 5-year option to renew.

 Nationwide Insurance is a Fortune 500 company. It is currently leasing 1,425 sq. ft. of space at Waterside Commons. Its lease expires in 2018.

 Shipley Do-Nuts is a regional donut shop that currently has over 190 stores in 6 states. It is currently leasing 1,750 sq. ft. at Waterside Commons and is under lease until 2018.

 Snap Fitness is a small format fitness center. The company has 1,400 clubs worldwide. The tenant is currently leasing 2,066 sq. ft. at Waterside Commons and is under lease until October 2014. We anticipate the tenant renewing at lease expiry.

A current rent roll, aerial, and neighborhood map are attached below the map on the right hand side of this page. 

Financials
Disclosures
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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