Understand the risks, the affiliate relationship, and the documents that govern an investment. Read this before anything else.
01 / Principal risks
Read with the full picture.
Loss of investment
You can lose your entire investment. Real estate values, rents, and financing can all move against the series.
Affiliate lease
The tenant is an affiliate of the sponsor. The sponsor sets both sides of the lease. If the affiliate cannot pay rent, the series cannot pay distributions.
Lease-up and operations
Operator revenue supports rent but is not LP revenue. Coverage of rent by operator revenue is an assumption, not a measured result.
Financing
Debt terms, rates, recourse, and maturities can change the outcome. Loan terms in any illustration are placeholders until a lender quotes.
Illiquidity
There is no public market for the interests. Transfers are restricted. Plan to hold for the full term.
Exit
Any sale or refinance is assumed in the model. There is no agreement to sell.
Conflicts of interest
The sponsor earns fees and a promote, and is affiliated with the tenant. See the conflicts section of the offering documents.
Regulatory
Interests are offered under Rule 506(c) of Regulation D. They are not registered with the SEC or any state. A Form D is filed for each offering.
02 / Offering documents
The documents govern the investment.
The private placement memorandum, operating agreement, subscription agreement, and investor questionnaire govern any offering. Nothing on this website replaces them. Verified investors can read them in the investor portal.
Only accredited investors, as defined in Rule 501 of Regulation D, and only after the sponsor has taken reasonable steps to verify accredited status. Non-US persons are reviewed by counsel before any offering materials are shared.
