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Multifamily
Bristol Park Apartments
Multiple Locations
Completed Equity
100% funded
...
Bristol Park Apartments
Multiple Locations
All Investments > Bristol Park Apartments
...
Overview
Bristol Park Apartments
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Videos
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Details
For more information, view the Sponsor's Investment Memorandum.
Estimated Hold Period 5 years
Investment Strategy Core Plus
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.
Deal Highlights
Investment Highlights
95%+ occupied, 2012-2014 construction multifamily property.
Anchored by Army base Fort Bragg, whose soldiers receive a "basic allowance for housing" which is greater than the in-place rents at the property.
Upside potential through the future disposition of the 7.6 acre entitled lot located at the rear of property.
95%+ occupied, 2012-2014 construction multifamily property.
Anchored by Army base Fort Bragg, whose soldiers receive a "basic allowance for housing" which is greater than the in-place rents at the property.
Upside potential through the future disposition of the 7.6 acre entitled lot located at the rear of property.
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Management
For more information, view the Sponsor's Investment Memorandum.
Evolution Real Estate Partners & Triumph Management Group

Evolution Real Estate Partners and Triumph Management Group, (together "the Sponsors") are serving as co-GPs with respect to the Property. 

Evolution Real Estate Partners ("EREP") is a minority-owned emerging manager featuring a diversified investment platform, an experienced management team and over $63,000,000 in assets currently under management.  Additionally, EREP's management team has been involved in closing $3.5+ billion in aggregate real estate transactions throughout their careers.

EREP employs a disciplined value-add investment methodology that seeks to maximize risk-adjusted returns across most major property types, including office, multifamily, hospitality, industrial, retail, mixed use, and land.  EREP’s investment methodologies are to:

  • Purchase assets “off-market” and at deep discounts to replacement cost
  • Concentrate on small-to-medium sized assets in supply-constrained markets
  • Exercise a prudent and disciplined use of leverage
  • Establish portfolio aggregation / disaggregation designed to provide diversification by geographic footprint, property type, tenant credit-worthiness and economic segment
  • Exploiting market inefficiencies and/or information asymmetries
  • Having multiple exit strategies formulated at the time of acquisition

Triumph Management Group ("TMG") is a full-service institution designed for the acquisition, financing, construction, rehabilitation, development, and property management of real estate assets, particularly multi-family housing. TMG specializes in conventional, low income housing tax credit, HUD financed/insured, HUD Section 8, and cooperative housing communities.  TMG (through its affiliate Triumph Housing Management) currently has approximately 46 buildings and 4,200 HUD / HAP units under management across nine states.  

The below track record for EREP and TMG includes only acquisitions completed by the Sponsors as GPs:

Management Team
Management
James Freeman - Senior Managing Partner - Evolution

Mr. Freeman is Senior Managing Partner, and a member of EREP’s Board of Directors and Investment Committee. Mr. Freeman is responsible for all facets of executive management including the development of EREP’s vision and strategy as well as the execution of this strategy to obtain the firm’s goals and objectives and that of its investors. Prior to EREP, Mr. Freeman acted as Managing Director of Evolution Capital Management (EVO), an investment advisory firm which historically managed a $1 billion+ balance sheet. Prior to EVO, Mr. Freeman was the Founder and Managing Partner of Iron Grove Realty Advisors (IGR), a full-service commercial real estate advisory firm whose client list included JP Morgan Chase, Wyndham Hotel Group, Mesirow Financial and Meridian Development Partners. Prior to IGR, Mr. Freeman held the position of Vice President, Business Development for Wyndham Hotel Group, one of the largest hotel companies in the world, with a 2006 market cap of $6.2 billion. Mr. Freeman graduated with a B.A. from Princeton University, and attended New York University’s Schack Institute of Real Estate.

Management
Jason Joseph - Managing Partner - Evolution

Mr. Joseph is Managing Partner, Capital Markets and a member of EREP’s Board of Directors and Investment Committee. Mr. Joseph has direct executive oversight for EREP’s Capital Markets function which is responsible for sourcing US and European bank affiliates for both asset acquisitions and debt origination liquidity, while overseeing EREP’s execution of all capital markets and structured finance activities. Prior to joining EREP, Mr. Joseph was President & CEO of Hibernian Pacific Holdings (HPH), a real estate holdings and investment management company where he was responsible for all areas of the company’s executive leadership, while developing and implementing the vision and strategy of the business. He was the primary inventor of HPH’s proprietary financing structure, which created a competitive advantage for the company in acquiring distressed assets from US and European financial institutions. Prior to HPH, Mr. Joseph was founder and Managing Partner of X1 Capital Partners (X1), a full service Investment Banking & Advisory firm whose clients were located across the US, Mexico, Western Europe, and Asia. Prior to X1, Mr. Joseph was a Sr. Analyst for Andersen Consulting (Accenture) where he provided high-level business strategy to the financial services and banking industry. Mr. Joseph graduated Cum Laude from the University of South Carolina with a B.S. in Economics with a minor in Finance.

Management
Chris Hetherington - Vice President - Evolution

Mr. Hetherington is Vice President, Asset Management and a member of EREP’s Investment Committee. Mr. Hetherington has direct responsibility for property business plans, budgets and forecasts and the monitoring of property performance to maximize total return. In addition Mr. Hetherington manages all third-party service providers related to this function. Prior to EREP, Mr. Hetherington served as Managing Director of EVO Real Estate Opportunities, Inc. and was responsible for the firm’s proprietary real estate acquisitions on the west coast, overseeing all facets of the transaction including sourcing, underwriting, financing and closing. Prior to his career in investment management, Mr. Hetherington played fullback in the National Football League for 11 years for the Indianapolis Colts, Carolina Panthers, St. Louis Rams, Oakland Raiders and San Francisco 49ers. Mr. Hetherington graduated from Yale University with a B.A. in Psychology in 1996, and attended the NFL Business Management and Entrepreneurship Programs at Wharton School of Business in 2006 and Harvard Business School in 2007.

Management
Mike Nolan - Vice President - Evolution

Mr. Nolan is Vice President of Acquisitions and Debt Originations and a member of EREP’s investment committee. Mr. Nolan has direct transaction oversight including due diligence, underwriting, and closing. Prior to EREP, Mr. Nolan was Vice President of Acquisitions for Evolution Capital Management (EVO), an investment advisory firm which historically managed a $1 billion+ balance sheet. In this role, Mr. Nolan was responsible for targeting distressed real estate investments and lending opportunities on the West Coast. Throughout his tenure with EVO, Mr. Nolan has worked in multiple capacities including finance, financial modeling, legal and risk management. Mr. Nolan graduated with Honors from Fordham University with a B.S. in Finance with a secondary concentration in Accounting and minor in Economics.

Management
Paul Ponte - Co-Founder and CEO - Triumph

Mr. Ponte is responsible for the day-to-day administration, operation and management of personnel for both the real estate development and property management arms of TMG. Mr. Ponte brings to TMG over 20 years of financial management and multi-faceted business experience. Prior to joining TMG, Mr. Ponte was the President and Chief Operating Officer of Housing Systems, Inc. and HSI Management, Inc. During his tenure, HSI closed on several multi-million dollar real estate transactions and significantly increased its third-party management business. In addition, Mr. Ponte was instrumental in turning around the management operation to the point that HSI Management was recognized by Georgia HAP Administrators, Inc. as the “Best Management Company” for 2009-2010. The award states, “In recognition and appreciation of your outstanding efforts in providing superior affordable housing.“ Prior to HSI, Mr. Ponte was the Chief Financial Officer for an Atlanta-based middle-market technology company as well as a Vice President and Finance Director for Citizens Financial Group. He also held various financial analysis and management positions with several multi-billion dollar companies including Ocean Spray Cranberries, CVS, Bristol-Myers Squibb, Clairol and Ernst &Young. A native of Rhode Island, Mr. Ponte is a CPA and received a Bachelor of Science in Business Administration as well as a Master in Business Administration from the University of Rhode Island.

Management
Gregory B. Jones - Co-Founder, Director of Acquisitions and Finance - Triumph

A founding member of Triumph Management Group, Mr. Jones is responsible for strategic planning, business development, acquisitions and finance.

As Director of Acquisitions and Finance, Mr. Jones underwrites and sources multi-family property acquisitions with a focus on affordable housing and C markets.  From January of 2014 to present, he has closed over $50 million in project based, Section 8 assets.  At this time, he has another $25 million in assets under contract, including both conventional and subsidized multi-family properties.  Mr. Jones has forged a general partnership/sponsorship group that is backed by a $1 billion+ balance sheet. 

Prior to Triumph, Mr. Jones was Co-Founder and Managing Partner of JGI Capital, a regional financial services firm operating a long/short equity investment strategy.  As Managing Partner, he was accountable for over $20 million in investment purchasing power and served as chief strategist.  He broke into the financial services industry with Oscar Gruss and Son, an Israeli market maker.  He later became head trader and branch manager for E*TRADE Professional, LLC before Co-Founding Triumph in 2011. 

Mr. Jones graduated with a B.A. from Emory University in 1992 and received his J.D. from the University of Louisville in 1995.  

Property
For more information, view the Sponsor's Investment Memorandum.
Address: 1141 Glen Iris Drive, Fayetteville, NC 28314
Years Built: 2013-2014
Property Type: Multifamily
Number of Units: 112 units
Occupancy: 95%
Major Amenities: Fitness Center
Swimming Pool
Dog Park
Playground
Private Patios/Balconies

Financials
For more information, view the Sponsor's Investment Memorandum.
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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