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.
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.
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.
We have formalized processes and checklists for every private placement deal listed on the platform.
Aulder Capital
Aulder Capital ("Aulder") is a New York City-based private real estate investment firm focused on investing in multifamily properties throughout New York City and the Northeast. Aulder currently manages a portfolio of over 1,500 units worth approximately $194 million and has sold approximately $14 million of assets since 2014.
Aulder seeks to earn attractive risk-adjusted equity returns for itself and for its investors. The firm is currently focused on the US Northeast, and seeks to identify value-added and opportunistic multifamily opportunities which can be repositioned and stabilized at current market levels. Aulder's in-house acquisition and structuring expertise allow it to quickly evaluate complex transactions in competitive time frames. In addition, the firm’s project and asset management backgrounds are integral in the execution of value-added strategies for their investments.
Realty Mogul previously invested with the Real Estate Company in the Foxwood Apartments transaction, which was acquired in Q4 of 2017.
https://www.aulder.com/City | State | Units | Year Acquired | Purchase Price |
---|---|---|---|---|
Brooklyn | NY | 24 | 2015 | $4,000,000 |
Brooklyn | NY | 31 | 2015 | $6,250,000 |
Manhattan | NY | 90 | 2015 | $15,950,000 |
Plainfield | NJ | 57 | 2016 | $5,625,000 |
New Windsor | NY | 161 | 2016 | $11,050,000 |
Albany | NY | 109 | 2016 | $7,965,000 |
Manhattan | NY | 21 | 2016 | $6,400,000 |
Groton | CT | 141 | 2017 | $14,650,000 |
Manhattan | NY | 133 | 2017 | $35,300,000 |
Manhattan | NY | 31 | 2017 | $11,550,000 |
Bucks County | PA | 238 | 2017 | $31,250,000 |
Newark | DE | 414 | 2017 | $44,500,000 |
Total | 1,450 | $194,490,000 |
City | State | Units | Year Acquired | Purchase Price | Year Sold/Partially Sold |
---|---|---|---|---|---|
Brooklyn | NY | 6 | 2012 | $1,000,000 | 2014 |
Brooklyn | NY | 12 | 2013 | $2,775,000 | 2015 |
Brooklyn | NY | 25 | 2014 | $3,875,000 | 2015 |
Brooklyn | NY | 8 | 2014 | $2,500,000 | 2016 |
Brooklyn | NY | 6 | 2014 | $975,000 | 2017 |
Brooklyn | NY | 10 | 2015 | $2,600,000 | 2016 |
67 | $13,725,000 |
Units | Purchase Price | |
---|---|---|
Total | 1,517 | $208,215,000 |
The Real Estate Company's biography and track record were provided by the Real Estate Company and have not been verified by Realty Mogul or NCPS.
In this transaction, Realty Mogul investors are to invest in RealtyMogul 117, LLC ("The Company"). The Company will subsequently invest in River Pointe Owner LLC ("The Target"), a limited liability company that will, through a 100% wholly-owned subsidiary, hold title to the Property. The Real Estate Company is under contract to purchase the Property for $24,450,482 ($143,826 per unit), and the total project cost is expected to be $29,750,000 ($175,000 per unit).
Aulder Capital (the "Real Estate Company") views the investment as an opportunity to acquire an asset which has been well maintained structurally but has missed opportunities to push rents through unit renovations as well as properly manage expenses by bringing more day-to-day Property functions in-house. The seller of the Property is an out of town institutional real estate owner who used third-party property management to oversee most operations at the Property, increasing overhead expenses. By bringing the management of the Property in-house and sub-metering both electricity and gas to pass those costs along directly to the tenant, the Real Estate Company anticipates being able to reduce expenses at the Property going forward.
The Real Estate Company plans to spend approximately $10,000 per unit renovating up to 153 units (90% of the Property) over the five-year hold at an average pace of approximately seven units per month. The underwriting assumes post-renovation rents that are 16% below the comp set and approximately $146 (10%) above in-place rents. Unit renovations will include a new appliance package, counters, hardware, painting, flooring and lighting. Additionally, the Real Estate Company intends to install in-unit washers and dryers throughout the Property. Common area upgrades, including signage improvement and the addition of a fitness center, community garden, outdoor kitchen and fire pit and are budgeted to cost approximately $900,000.
Realty Mogul previously invested with the Real Estate Company in the Foxwood Apartments transaction, which was acquired in Q4 of 2017.
RealtyMogul.com, along with Aulder Capital (the "Real Estate Company"), is providing the opportunity to invest in the acquisition of River Pointe Apartments, a 170-unit multifamily Property located in Fort Washington, Maryland (the "Property").
The primary objective of this investment is to acquire the Property, perform curb appeal upgrades, interior renovations, and improve management efficiencies via sub-metering gas and electricity expenses directly to the tenants, then sell the Property within approximately five (5) years.
The Real Estate Company sees this investment as an opportunity to capitalize on a well-occupied, well-maintained and well-located asset in an high-demographic and strong market that can be improved through targeted capital improvements and improved management and leasing efforts via the property manager ZPM Management, an affiliate of the Real Estate Company.
River Pointe Apartments (the "Property") was constructed in 1968 and is two and three-story masonry construction. The Property is a 170-unit apartment community located in Fort Washington, Maryland, approximately a 17-minute drive (13.5 miles) south of the central business district of Washington, D.C., and approximately 15 minutes (7.3 miles) south east of downtown Alexandria, VA. The Property offers a range of units including 17 one-bedroom units, 84 two-bedroom units, 51 three-bedroom units, and 18 four-bedroom units in 29 three-story buildings across nine acres. Amenities at the Property include a playground, picnic area, pet park, controlled access, central courtyards and on-site laundry facilities.
Unit Type | # of Units | % of Total | Unit (SF) | Total SF | Rent/Unit | Rent/SF |
---|---|---|---|---|---|---|
1 Bed, 1 Bath | 17 | 10% | 542 | 9,214 | $1,202 | $2.22 |
2 Bed, 1 Bath | 84 | 49% | 652 | 54,768 | $1,328 | $2.04 |
3 Bed, 1.5 Bath | 51 | 30% | 762 | 38,862 | $1,609 | $2.11 |
4 Bed, 2 Bath | 18 | 11% | 827 | 14,886 | $1,918 | $2.32 |
Totals/Averages | 170 | 100% | 693 | 117,730 | $1,462 | $2.11 |
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Wilson Tower Apartments | Harbor Place | Westwood Place | Glen Rock Landing | Comp Set Averages | Subject - In-Place | ||
---|---|---|---|---|---|---|---|
# of Units | 202 | 606 | 246 | 304 | 340 | 170 | |
Year Built | 1964 | 1974 | 1973 | 1966 | 1969 | 1963 | |
Miles from Subject | 0.4 | 0.6 | 2.5 | 2.7 | 1.5 | - | |
1 Bedroom | |||||||
# of Units | 133 | 376 | 160 | 100 | 192 | 17 | |
Average Rent | $1,244 | $1,348 | $1,290 | $1,379 | $1,315 | $1,462 | |
Average $/SF | $1.67 | $1.64 | $1.45 | $1.68 | $1.61 | $2.11 | |
2 Bedroom | |||||||
# of Units | 60 | 122 | 8 | 108 | 75 | 84 | |
Average Rent | $1,426 | $1,423 | $1,400 | $1,378 | $1,407 | $1,328 | |
Average $/SF | $1.72 | $1.50 | $1.63 | $1.62 | $1.62 | $2.04 | |
3 Bedroom | |||||||
# of Units | N/A | 108 | 38 | 8 | 51 | 51 | |
Average Rent | N/A | $1,666 | $1,645 | $1,620 | $1,644 | $1,609 | |
Average $/SF | N/A | $1.58 | $1.38 | $1.69 | $1.55 | $2.11 | |
4 Bedroom | |||||||
# of Units | N/A | N/A | N/A | N/A | N/A | 18 | |
Average Rent | N/A | N/A | N/A | N/A | N/A | $1,918 | |
Average $/SF | N/A | N/A | N/A | N/A | N/A | $2.32 |
Source - Axiometrics
Harbor Place | Riverside Apartments | Esplanade | Comp Set Averages | Subject - Post-Renovation Units | ||
---|---|---|---|---|---|---|
# of Units | 606 | 814 | 252 | 557 | 170 | |
Year Built | 1974 | 1973 | 2015 | 1987 | 1963 | |
Miles from Subject | 0.9 | 5.7 | 1.1 | 2.6 | - | |
1 Bedroom | ||||||
# of Units | 376 | 407 | 158 | 314 | 17 | |
Average Rent | $1,380 | $1,482 | $2,129 | $1,664 | $1,280 | |
Average $/SF | $1.92 | $1.85 | $2.68 | $2.15 | $2.35 | |
2 Bedroom | ||||||
# of Units | 122 | 407 | 99 | 209 | 84 | |
Average Rent | $1,650 | $1,824 | $2,778 | $2,084 | $1,550 | |
Average $/SF | $1.72 | $1.61 | $2.37 | $1.90 | $2.38 | |
3 Bedroom | ||||||
# of Units | 108 | N/A | 9 | 59 | 51 | |
Average Rent | $1,785 | N/A | $3,667 | $2,762 | $1,685 | |
Average $/SF | $1.70 | N/A | $2.40 | $2.05 | $2.21 | |
4 Bedroom | ||||||
# of Units | N/A | N/A | N/A | N/A | 18 | |
Average Rent | N/A | N/A | N/A | N/A | $2,100 | |
Average $/SF | N/A | N/A | N/A | N/A | $2.54 |
Source - Axiometrics
Hanson Creek Manor |
Brinkley Manor Apartments | Huntington Garden | Glen Rock Landing | Comp Set Total / Averages | Subject | |
---|---|---|---|---|---|---|
Date | July 2017 | June 2017 | September 2016 | August 2015 | - | June 2018 |
# of Units | 210 | 125 | 113 | 304 | 188 | 170 |
Year Built | 1994 | 1973 | 1950 | 1964 | 1970 | 1963 |
Purchase Price | $27,000,000 | $15,050,000 | $18,500,000 | $34,150,000 | $23,675,000 | $24,450,482 |
$/Unit | $128,571 | $120,400 | $163,717 | $112,336 | $131,256 | $143,826 |
Cap Rate | 6.4% | - | 5.3% | 6.5% | 6.3% | 5.8% |
Miles from Subject | 3.1 | 5.0 | 4.7 | 4.5 | 4.3 | - |
Source - Real Captial Analytics
The Property is located in Fort Washington, MD, within the greater Prince George's County. The Property provides tenants with a convenient commute to both Downtown Washington, D.C. (17-minute drive) and downtown Alexandria, VA (15-minute drive). The Property sits along Indian Head Highway, approximately two miles from the intersection of Indian Head Highway and Interstate 495, maximizing the accessibility of the Property to the surrounding metropolitan areas.
The Property is located approximately one and a half miles from both the newly developed MGM National and the National Harbor community. The National Harbor is an approximately 300-acre master-planned development along the Potomac River. Per the Washington Post, the National Harbor is home to approximately 3,800 people an approximately 10,000 jobs. The MGM Grand Casino, which was completed in 2016, is a $1.4 billion resort and casino, with 308 rooms, 135,000 square feet in gaming space, retail space, a spa, seven restaurants, a 3,000-seat theater with seven VIP suites, 27,000 square feet of meeting and event space, and a parking garage for 4,800 cars, per the Washington Post.
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Market Overview
Per Axiometrics, effective rent for the Washington-Arlington-Alexandria market increased 2.3% annualized from $1,735 in the fourth quarter of 2018 to $1,741 in the first quarter of 2018. Annual effective rent growth is forecast to be 2.3% in 2018, and average 2.9% from 2018 to 2022. Annual effective rent growth has averaged 3.1% from 1996-2017. The market's occupancy rate was 95.0% in the first quarter of 2018, in-line with the national average of 95.0% in the first quarter of 2018. For the forecast period, the market's occupancy rate is expected to be 95.7% in 2018, and average 95.5% from 2019 to 2022. The market's occupancy rate has averaged 95.7% from 1996-2007.
Submarket Overview
Per Axiometrics, effective rent for the Forest Heights/Oxon Hill increased 2.0% annualized from $1,304 in the fourth quarter of 2018 to $1,310 in the first quarter of 2018. Annual effective rent growth is forecast to be 3.6% in 2018, and average 3.0% from 2018 to 2022. Annual effective rent growth has averaged 3.3% from 2001-2017. The market's occupancy rate was 94.4% in the first quarter of 2018, slightly below the national average of 95.0% in the first quarter of 2018. For the forecast period, the market's occupancy rate is expected to be 94.6% in 2018, and average 94.1% from 2019 to 2022. The market's occupancy rate has averaged 94.4% from 2001-2007.
Demographic Information
1 Mile | 3 Miles | 5 Miles | |
---|---|---|---|
Population (2017) | 9,143 | 55,538 | 258,255 |
Estimated Population (2022) | 9,449 | 57,756 | 271,851 |
Population Growth (2010-2017) | 0.5% | 3.4% | 9.4% |
Estimated Population Growth (2017-2022) | 3.4% | 4.0% | 5.3% |
Average Household Income | $92,931 | $101,319 | $107,984 |
Median Home Value | $267,621 | $279,510 | $344,818 |
Average Household Size | 2.6 | 2.7 | 2.4 |
Demographic information above was obtained from CoStar.
Sources of Funds | Cost |
---|---|
Debt | $19,700,000 |
Equity | $10,050,000 |
Total Sources of Funds | $29,750,000 |
Uses of Funds | Cost |
Purchase Price | $24,450,482 |
Real Estate Company Acquisition Fee | $489,010 |
Broker Dealer Fee | $80,000 |
Capital Expenditures | $2,676,554 |
Transfer Tax | $599,038 |
Senior Loan Fee | $118,200 |
Buyer's/Seller's Broker Fee | $375,000 |
Lender Costs | $65,000 |
Escrows, Prepaid Costs and Working Capital | $454,719 |
Buyer's Closing, Legal Fees & Due Diligence | $441,997 |
Total Uses of Funds | $29,750,000 |
The terms of the debt financing are as follows:
- Lender: Berkadia as a Fannie Mae DUS
- Loan Type: Agency
- Proceeds: $19,700,000
- Term: 12 years
- Rate: 4.77% fixed
- Amortization: 30 years
- Interest-Only Period: Four and a half (4.5) years
- Extensions: None
- Prepayment: Yield Maintenance through the first 10 years of the loan, after which the loan may be paid off at par
- Recourse: Non-recourse except for carve-outs
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.
The Target intends to make distributions of all available cash and capital proceeds to investors (The Company, Other LP investors and Real Estate Company, collectively, the "Members") as follows:
- Pro rata share of cash flow to an 8% preferred return hurdle;
- Return of capital;
- Excess balances will be split pro rata 80% to Members and 20% to Real Estate Company to a 15% IRR;
- Excess balances will be split pro rata 70% to Members and 30% to Real Estate Company.
Note that these distributions will occur after the payment of The Company's liabilities (loan payments, operating expenses and other fees as set forth in the LLC agreement, in addition to any member loans or returns due on member loans).
The Company will distribute 100% of its share of excess cash flow (after expenses and fees) to the members of The Company (the Realty Mogul investors).
Distributions are expected to start in December 2018 and are expected to continue on a quarterly basis thereafter. These distributions are at the discretion of the Real Estate Company, who may decide to delay distributions for any reason, including maintenance or capital reserves.
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
---|---|---|---|---|---|
Effective Gross Revenue | $3,189,056 | $3,409,630 | $3,520,184 | $3,609,251 | $3,700,577 |
Total Operating Expenses | $1,553,686 | $1,591,458 | $1,396,427 | $1,425,916 | $1,450,699 |
Net Operating Income | $1,635,370 | $1,818,172 | $2,123,757 | $2,183,335 | $2,249,878 |
Year 0 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|---|---|
Distributions to The Company | ($2,020,000) | $61,764 | $138,099 | $188,046 | $218,442 | $226,193 | $2,995,335 |
Net Earnings to Investor - Hypothetical $50,000 Investment |
($50,000) | $1,529 | $3,418 | $4,655 | $5,407 | $5,599 | $74,142 |
Certain fees and compensation will be paid over the life of the transaction. The following fees and compensation will be paid:
Type of Fee | Amount of Fee | Received By | Paid From | Notes |
---|---|---|---|---|
Acquisition Fee | $489,010 | Real Estate Company | Capitalized Equity Contribution | 2.0% of the Property purchase price |
Broker-Dealer Fee | $80,000 | North Capital (1) | Capitalized Equity Contribution | 4.0% of equity raised by RealtyMogul.com ($50,000 minimum) |
Type of Fee | Amount of Fee | Received By | Paid From | Notes |
---|---|---|---|---|
Property Management Fee | 4.0% of Effective Gross Income | Real Estate Company Affiliate | Distributable Cash | |
Management and Administrative Fee | 1.0% of amount invested in RealtyMogul 117, LLC | RM Manager, LLC | Distributable Cash | RM Manager, LLC is the Manager of The Company and a wholly-owned subsidiary of Realty Mogul, Co.2 |
(1) Certain employees of Realty Mogul, Co. are registered representatives of, and are paid commissions by, North Capital Private Securities Corp., a Delaware corporation ("North Capital"). In addition, North Capital pays a technology provider services fee to Realty Mogul, Co. for licensing and access to certain technology, reporting, communications, branding, entity formation and administrative services performed from time to time by Realty Mogul, Co., and North Capital and Realty Mogul, Co. are parties to a profit sharing arrangement.
(2) Fees may be deferred to reduce impact to investor distributions.
The above presentation is based upon information supplied by the Real Estate Company or others. Realty Mogul, Co., RM Manager, LLC, and The Company, along with their respective affiliates, officers, directors or representatives (the "RM Parties") hereby advise you that none of them has independently confirmed or verified any of the information contained herein. The RM Parties further make no representations as to the accuracy or completeness of any such information and undertake no obligation now or in the future to update or correct this presentation or any information contained herein.
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, LLCSponsor 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 DocumentsThe 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 InvestmentThis 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 AssumptionsSponsor 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 PerformanceAny 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 DebtA 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 RegisteredSponsor’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 AdviceNothing 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 RiskInternal 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.