RealtyMogul Apartment Growth REIT
Join the 3,100 investors that have earned passive income from RealtyMogul’s growth-focused Real Estate Investment Trust “REIT”.
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Property Type
Multifamily
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Overview
Since inception, The RealtyMogul Apartment Growth REIT has made quarterly distributions equating to ${mogulReit2LastDistributionDeclared}% annualized based on purchase price.

The Apartment Growth REIT is a non-traded REIT that invests in apartment buildings located in resilient markets that can offer current income and solid growth potential. The REIT’s primary objective is to realize capital appreciation in the value of its investments over the long term through the renovation and repositioning of the multifamily properties as well as to pay attractive and stable cash distributions to stockholders.
Capital Appreciation
Value creation through property exterior and unit improvements in order to increase rental rates and ultimate resale value.
Targeted Markets
Focus on regions with strong economic fundamentals and apartment communities that have demonstrated consistently high occupancy and income levels across market cycles.
Potential Income
Source of cash flow derived from tenants paying rent and additional potential income stemming from enhancements to the property, such as the addition of a laundry facility.
Trusted
Regular audits conducted by Cohn Reznick.
Resources
Apartment Growth REIT Subscription Agreement
Download
Apartment Growth REIT Corporate Bylaws
Download
Offering Circular
Download
Supplement Filings
Download

RM ADVISER

The RealtyMogul Apartment Growth REIT is managed by RM Adviser, LLC, a SEC registered investment adviser and wholly-owned subsidiary of Realty Mogul, Co. RM Adviser, which manages the Apartment Growth REIT’s day-to-day operations, has access to the experienced team of real estate finance professionals employed by Realty Mogul, Co., including Jilliene Helman, its Chief Executive Officer. Senior executives and origination professionals at Realty Mogul, Co. have experience in the commercial real estate sector and have been in leadership roles at financial services institutions for many years. Collectively, these professionals have approximately 167 years of combined direct experience in the commercial real estate business and have managed more than $27 billion of originations.

The credit team of Realty Mogul, Co. and its affiliates is experienced in reviewing and underwriting commercial real estate investments. The team has adopted approaches used by real estate finance industry leaders in its analysis of real estate capital structures and financial strategies.

INDEPENDENT BOARD OF DIRECTORS

Although the Manager, RM Adviser, LLC, manages the day-to-day operations, the Apartment Growth REIT operates under the direction of its Board of Directors, a majority of whom are independent directors.


Other than the limited stockholder voting rights described in our offering circular, our charter vets most other decisions relating to our assets and to the business of the Company, including certain decisions relating to acquisitions and dispositions, the engagement of asset managers, the issuance of securities in the Company including additional shares of our common stock, mergers, roll-up transactions, listing on a national securities exchange, and other decisions relating to our business, to our Board of Directors.

What is a REIT?
A Real Estate Investment Trust (REIT) is a single investment into a portfolio of real estate properties, which are often diversified by property type, geography, or multiple categories to potentially achieve strategic objectives.

REITs are legally required to distribute 90% of all taxable income to investors annually.

Generally, REITs have historically outperformed the broad stock market more often than not when returns are measured in years.3 REITs have also historically been positively correlated with inflation, which may make them a possible hedge for inflation.4


3. https://www.reit.com/news/blog/market-commentary/reit-average--historical-returns-vs-us-stocks
4. https://www.reit.com/news/blog/market-commentary/how-reits-provide-protection-against-inflation
What is the RealtyMogul Apartment Growth REIT?
The RealtyMogul Apartment Growth REIT is a Maryland corporation formed to own and manage a diversified portfolio of preferred equity and joint venture equity investments in multifamily properties located in target markets throughout the United States. The REIT’s objective is to make investments into apartment communities that follow one of two core criteria:

• Demonstrated consistently high occupancy and income levels across market cycles;
• Offer value-add opportunities with appropriate risk-adjusted returns and the potential for significant value appreciation.
How is the purchase price determined?
The purchase price per share equals our NAV per share (calculated as our NAV divided by the number of our common shares outstanding as of the end of the prior fiscal quarter) and will be adjusted at the beginning of every fiscal quarter (or as soon as commercially reasonable thereafter). Investors will pay the most recent publicly announced offering price as of the date of their subscription. Our website, www.realtymogul.com, will identify the current offering price per share as well as our NAV per share.
How often will I receive distributions?
The purchase price per share equals our NAV per share (calculated as our NAV divided by the number of our common shares outstanding as of the end of the prior fiscal quarter) and will be adjusted at the beginning of every fiscal quarter (or as soon as commercially reasonable thereafter). Investors will pay the most recent publicly announced offering price as of the date of their subscription. Our website, www.realtymogul.com, will identify the current offering price per share as well as our NAV per share.
How often will I receive distributions?
Although distributions are not guaranteed, they are expected to be paid quarterly; however, the Board of Directors may declare other periodic distributions as circumstances dictate. You may elect to participate in our distribution reinvestment plan (DRIP), in which case all potential distributions we pay to you may be automatically reinvested in shares of our common stock.
What is the Automatic Investment Program?
Existing Income REIT and Apartment Growth REIT investors who desire to purchase additional shares of either or both offerings at regular intervals may be able to do so by electing to participate in the auto investment program. The auto investment program allows an investor to choose a recurring investment amount that will be added to an existing REIT investment month-after-month automatically. The minimum periodic investment is $250 per month. If you elect to participate in both the auto investment program and our distribution reinvestment plan, distributions earned from shares purchased pursuant to the auto investment program will automatically be reinvested pursuant to our distribution reinvestment plan.

Existing Income REIT and Apartment Growth REIT investors can click on the “Auto Invest” tab on their investor Dashboard to begin the Auto Invest enrollment process. Once an enrollment form is submitted, the Auto Invest enrollment request will need to be processed before it will become active on your Dashboard. Please visit the “Auto Invest” tab on your investor Dashboard to get started and for more information.

Once your auto investment enrollment is active, you will have the option to either pause, edit, or cancel your enrollment right from the “Auto Invest” tab on your investor Dashboard. For more information, please refer to our full offering circular.
What fees and expenses will the REIT pay?
Unlike some public non-traded REIT offerings, RealtyMogul has direct access to its investors through its online portal. As a result, the Apartment Growth REIT does not pay broker-dealers any selling commissions, which may average approximately 7% of the invested dollars. Therefore, the Apartment Growth REIT offering has lower fees than some of the other REIT offerings available today in the market.

The following third-party expense reimbursements will be paid from proceeds of the sale of the Apartment Growth REIT shares:

TYPE OF FEEAMOUNTNOTES
Organization, Offering and Other Operating Expenses including, but not limited to, actually incurred third-party legal, accounting, and marketing expenses**Up to 3% of equity contributionNet Asset Value (NAV), at any given time, is net of Organization, Offering and Other Operating Expenses.

**The following fees will be paid by the REIT to our Manager, RM Adviser, LLC, and/or its affiliates for services related to the offering, and the investment and management of our assets***:

TYPE OF FEEAMOUNTNOTES
Asset Management Fee paid to our Manager, RM Adviser, LLC1.25% annualized based on the total equity valueFor purposes of this fee, total equity value equals (a) our then-current NAV per share, as determined by our board of directors, multiplied by (b) the number of shares of our common stock then outstanding. Actual amounts are dependent upon the offering proceeds we raise (and any leverage we employ) and the results of our operations and changes to our NAV.
Reimbursement of Other Operating Expenses paid to our Manager, RM Adviser, LLC Variable – dependent upon operations 

Includes, but not limited to, license fees, auditing fees, fees associated with SEC reporting requirements, insurance costs, tax return preparation fees, taxes and filing fees, administration fees, fees for the services of an Independent Representative or Advisory Board, and third-party costs associated with the aforementioned expenses.

**Other operating expenses, including, but not limited to the expense of an annual third-party audit, independent director stock compensation and stock retainer for our portfolio manager, are paid by the REIT.
***There are other fees not paid by the REIT itself that may be paid to affiliates that originate or manage investments on behalf of the REIT. To learn more about our fees, estimated use of proceeds, and the Apartment Growth REIT's estimated expenses, please refer to our full offering circular 
Will I have the opportunity to redeem my common shares?
Non-traded REITs, such as the RealtyMogul Apartment Growth REIT, are not liquid investments, which means you may think of an investment in the Apartment Growth REIT as a long-term investment into real estate. We have, however, adopted a Share Repurchase Program whereby we alone may purchase shares back from investors. The Share Repurchase Program is designed to provide our shareholders with limited liquidity on a quarterly basis for their investment in the Apartment Growth REIT shares, subject to availability of capital.

After 12 months of ownership, your shares may be repurchased at the most recently announced NAV per share multiplied by the Effective Repurchase Rate, a discount based on how long the shares have been held.

The Effective Repurchase Rate is based on the stock purchase anniversary as follows:
Share Repurchase Anniversary (Year)Effective Repurchase Rate(1)
Less than 1 year(Lock-up) 0%
1 year until 2 years98%
2 years until 3 years99%
3 or more years100%
Death (Exception Repurchases)100%
(1) As a percentage of the Repurchase Base Price per share. The repurchase price will be rounded down to the nearest $0.01.
Our REIT Manager may in its sole discretion, amend, suspend, or terminate the share repurchase program at any time. Reasons we may amend, suspend or terminate the share repurchase program include (i) to protect our operations and our remaining shareholders, (ii) to prevent an undue burden on our liquidity, (iii) to preserve our status as a REIT, (iv) following any material decrease in our NAV, or (v) for any other reason.

Additional details regarding the RealtyMogul Apartment Growth REIT, Inc.’s Repurchase Program are found in the Offering Circular, including all supplements.

To learn more about the Apartment Growth REIT's Share Repurchase Plan, please refer to our full offering circular 
How will the distributions I receive be taxed?
REIT distributions may be treated as ordinary income, capital gains, and/or return of capital for tax purposes, each of which may be taxed at a different rate for different investors.

Because each investor’s tax considerations are different, it is recommended that you consult with your tax advisor. You also should review the section of the offering circular entitled “U.S. Federal Income Tax Considerations,” including for a discussion of the special rules applicable to distributions in repurchase of shares and liquidating distributions.

Your annual detailed tax information will be reported on Form 1099-DIV, if required, and will be provided to you in electronic form by January 31 of the year following each taxable year.

What is the REIT's exit strategy?
The Company expects to provide investors with a liquidity transaction, or exit, at some point in the future.

A liquidity transaction could consist of a sale of all assets, a roll-off to maturity of all assets, a sale or merger of the Apartment Growth REIT, consolidation with other REITs managed by our Manager, a listing of the Apartment Growth REIT on an exchange, or any other similar transaction.

The REIT does not have a stated term. The Apartment Growth REIT's Manager has the discretion to consider and execute a liquidity transaction at any time if it determines it is in the best interest of the Company.
Am I eligible to invest?
The RealtyMogul Apartment Growth REIT is available to all investors, subject to some regulatory limitations.

The regulators define some investors as either ‘accredited investors’ or ‘non-accredited investors’. Both may invest in the REIT, but the amount of money that you may invest is different if you are an accredited investor or a non-accredited investor.

Accredited investors are defined as:

Individuals earning an annual income of over $200,000 per year for the last two years ($300,000 per year if filing as a couple), with the expectation of maintaining this level of income in the future; OR

  • Having a net worth of more than $1 million (individually or jointly), excluding the value of a primary residence; OR
  • Being a bank, insurance company, registered investment advisor, business development company, or small business investment company; OR
  • Being a general partner, executive officer, director or a related combination thereof for the issuer of a security being offered; OR
  • Being a business in which all the equity owners are accredited investors; OR
  • Being an employee benefit plan, a trust, charitable organization, partnership, or company with total assets in excess of $5 million.

If you do not meet any of the guidelines above, you are likely a non-accredited investor. If you are a non-accredited investor, you may still invest in the REIT but your investment may be limited based on your annual income or net worth. RealtyMogul may help you to calculate your maximum allowable investment amount when you initiate an investment on our platform.

What will the REIT invest in?
The RealtyMogul Apartment Growth REIT invests in joint venture equity and preferred equity investments in multifamily apartments.
Historical Performance
CUMULATIVE DISTRIBUTIONS
Cumulative Distributions
Purchase Price
$11.18
Per share as of 1 July 2022
Net Asset Value (NAV)
$11.18
Per share as of ${mogulReit2LastTwelveMonthsReturnDate}
LTM Return
${mogulReit2LastTwelveMonthsReturn}%
3-Year Return
${mogulReit2ThreeYearReturn}%
5-Year Return
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Lifetime Return
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Consecutive Distribution Periods
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Property Type
Cumulative Distributions
Primary
Locations where the broader MSAs have a population of 5 million or greater.

Secondary
Locations where the broader MSAs have a population between 2 – 5 million.

Tertiary
Locations where the broader MSAs have a population less than 2 million.
Cumulative Distributions
Multi-Family
The RealtyMogul Apartment Growth REIT targets apartment communities that have demonstrated consistently high occupancy and income levels across market cycles as well as multifamily properties that offer value added opportunities with appropriate risk-adjusted returns and opportunity for value appreciation.
Portfolio
Investment Location Property Type Investment Type Weight
Brooklyn, NY Multi-family Joint Venture Equity 0%
Plano, TX Multi-family Joint Venture Equity 0%
Fort Worth, TX Multi-family Joint Venture Equity 0%
Avon, CT Multi-family Joint Venture Equity 0%
Dallas, TX Multi-family Joint Venture Equity 0%
Orion Township, MI Multi-family Joint Venture Equity 0%
Austin, TX Multi-family Joint Venture Equity 0%
Riverview, FL Multi-family Joint Venture Equity 0%
Brooklyn Diversified Multifamily Portfolio
Brooklyn, NY
Brooklyn Diversified Multifamily Portfolio
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
3000000
Date Of Investment
11/30/17

Highlights

Experienced Real Estate Company
The Real Estate Company is locally based and has prior experience purchasing and adding value to rent stabilized multifamily properties in Brooklyn. RM has transacted with the Real Estate Company on three previous occasions.

Significant Owner Equity
The Real Estate Company invested over $3.7 million in the Portfolio.

Well Located
The Portfolio is located in several gentrifying neighborhoods of Brooklyn, NY, within the Bedford-Stuyvesant/Bushwick, Crown Heights and Ditmas Park/Flatbush submarkets.

Plano Multifamily Portfolio
Plano, TX
Plano Multifamily Portfolio
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
1000000
Date Of Investment
12/22/17

Highlights

Experienced Real Estate Company
The real estate company owns and manages over $270 million in multifamily assets overall, comprising approximately 4,600 units, and RealtyMogul.com has invested with the real estate company on four previous transactions

Attractive Basis
The real estate company is purchasing two properties which collectively account for $67,308 per unit and compare favorably to comparable transactions in the market

Well Located
The Properties are situated in a major market with favorable fundamentals; in close proximity to retail amenities, public transportation and public facilities

Villas del Mar
Fort Worth, TX
Villas del Mar
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
1066558
Date Of Investment
2/28/18

Highlights

Experienced Repeat Real Estate Company
The Real Estate Company owns and manages over $285 million in multifamily assets overall, comprising approximately 4,800 units, and RealtyMogul has transacted with the Real Estate Company on six previous transactions.

Opportunity for Cost Efficiencies
The budgeted installation of low-flow water fixtures, LED exterior lighting, and zero-scape landscaping throughout the Property is expected to lower total utility expenditures by over 20%.

Stable Market Fundamentals
According to CoStar, Southwest Fort Worth anticipates population growth through 2022 of 10.6%, 9.5% and 8.9% within one, three and five miles of the Property.

Avon Place Apartments
Avon, CT
Avon Place Apartments
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
3000000
Date Of Investment
10/22/18

Highlights

Locally Experienced Real Estate Company

The principals of Clairmont Group, LLC have invested in over $937 million in real estate during their careers, with an emphasis in Northeast, value-add multifamily. 

Attractive Basis

The Real Estate Company is purchasing the Property for $146,341 per unit which compares favorably to comparable transactions in the market.

Well Located

The Property is situated in a major, affluent market with favorable fundamentals; in close proximity to retail amenities, public transportation, strong schools, and high median home prices.

Ninety-Nine44 Apartments
Dallas, TX
Ninety-Nine44 Apartments
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
4000000
Date Of Investment
9/9/20

Highlights

Value Add

There is an opportunity to renovate the property and increase rental income. $8,109 is budgeted per unit for renovations which is anticipated to increase rents an average of $132 per unit upon completion. The Property is also being purchased at a basis below its comparative set and represents a discount to pre-COVID pricing.

Dynamic Market

The Property benefits from its close proximity to the Telecom Corridor. More than 5,700 companies have a presence in the area, including AT&T, Ericsson, Verizon, Texas Instruments and MetroPCS. The area also features a tight multifamily market, with 6.2% vacancy in June 2020 according to Axiometrics.

Repeat Sponsor

The Real Estate Company is a repeat sponsor of Realty Mogul Co. A previous transaction between the two companies recently completed its renovation plan, achieved 95% occupancy and is anticipated to be marketed for sale in September 2020.

The Orion
Orion Township, MI
The Orion
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
5000000
Date Of Investment
3/23/21

Highlights

Location

With a $1.3 billion asset value and over 15,000 apartments, Northwest Oakland County is the fifth largest submarket in Detroit that appeals to baby boomers and empty nesters seeking a more rural environment. The market takes advantage of strong suburban population growth, which captures workers who are employed in the suburbs of Detroit and allows for a greater market share of renters than in other parts of Michigan.

Market Rent Growth

The submarket had strong year-over-year rent growth of 7.2%. Per AxioMetrics, rent is forecasted to grow by 3.5% annually and vacancy to stay below 5% in the next five years.

Recent Performance

As of the acquisition date, the property was 98% occupied. The property has been at least 96% occupied since April 2020. Since September 2020, new lease rents were 10% above in-place rents, signaling an attractive upward trajectory.

Lotus Village
Austin, TX
Lotus Village
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
2500000
Date Of Investment
6/25/21

Highlights

Off-Market

The Real Estate Company reapproached a national brokerage firm following a broadly marketed process, due to the previous buyer's seeming uncertainty of execution. Following 6 months of consistent tracking, and the transaction ultimately falling through, the Real Estate Company contractually stepped in as the buyer at a lower price, with terms and a track record that ensures the ability to close.

Market

Austin has been named the #1 fastest-growing major metro area for population growth for nine straight years. Austin has also ranked the #1 place to live in the United States, for the third consecutive year in 2019. The Austin area consists of several Fortune 500 companies, including Apple, Facebook, Amazon, Dell, IBM, Oracle, and soon Tesla's new Gigafactory. Through the COVID-19 pandemic era, Austin added over 37,000 new jobs, marking 3.5% growth and making the city the 2nd fastest-growing metro in the United States. The City recently approved the Orange Line, a new metro rail that will be passing just two blocks from the Property and will provide commuters with convenient access to the Tech Ridge and Downtown Austin. The submarket has averaged 4%+ rent growth and 95%+ occupancy over the past 10 years. 

Value-Add

Though built in 2012, the Real Estate Company has an opportunity to enhance all 222 units at Lotus Village, while also further enhancing amenities and exterior spaces. The Real Estate Company has the ability to raise the average current rents of $1.33 per square foot to $1.51 per square foot, which results in a $172 premium over in-place rents and assumed stabilized occupancy at 92%.

 

Sherwood Oaks
Riverview, FL
Sherwood Oaks
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
4200000
Date Of Investment
11/30/21

Highlights

Desirable Product Type

Sherwood Oaks stands out amongst its competitors with its unique, predominantly single-story construction, a feature that is highly desirable with tenants, and a huge competitive advantage over nearby apartment properties. The low-density grounds feature abundant, mature oak trees, which create a shade canopy over the property, providing temperature control and natural curb appeal.

Renovated

Since 2020, the Property has received over $3MM/$15K+ per unit in capital improvements. This includes a complete roof replacement, exterior paint, dog park, landscaping enhancements, and unit interior renovations.

Market

According to research from Yardi Matrix, the Tampa metro saw the third biggest year-over-year increase in apartment rental rates growing 15.1% between June 2020 and June 2021. That rate is more than twice the national average. In the Southeast Tampa submarket where this asset is located, quarter-to-date year-over-year asking rent growth is 25%.

Investment Location Property Type Investment Type Invested
Dallas, TX Multi-family Joint Venture Equity 4000000
San Antonio, TX Multi-family Joint Venture Equity 1000000
El Paso, TX Multi-family Joint Venture Equity 3385320
Chicago, IL Multi-family Preferred Equity 1440000
The Clover on Park Lane
Dallas, TX
The Clover on Park Lane
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
4000000
Date Of Investment
8/31/17
Date Completed

Investment Summary

  • On August 31, 2017, RealtyMogul Apartment Growth REIT (fka MogulREIT II) acquired a $4,000,000 joint-venture equity investment related to the acquisition and renovation of The Clover on Park Lane (fka Serendipity Apartments), a 343-unit garden-style apartment community located in Dallas, TX.
  • The Property was built in 1975 and is comprised of studios, one, and two-bedroom floor plans with an average unit size of 610 square feet. Amenities at the Property include a clubhouse, business center, fitness center, laundry facilities, two pools, and picnic areas.
  • The real estate company’s business plan is to bring in-place units to market rents and renovate all 343 units over a three-year period. The real estate company has budgeted approximately $3.04 million ($8,861/unit) to be allocated towards interior and exterior capital improvements. Unit interior upgrades are to include new appliances, painted cabinetry, new ceiling fans, and new lighting packages. Exterior/amenity improvements are to consist of new paint, new carpentry, new landscaping and drainage, a dog park, renovated pool, resealed parking lots, and a new signage package. Post-renovated rent increases are anticipated to be $142 per unit.
  • On January 7, 2022, the Clover Property was sold. As a result of the business plan for the renovation of the Clover Property, since the Clover Property’s acquisition, 279 of the 343 units had been renovated, and renovation costs remained under budget. The exterior and common area improvements were completed, including landscaping, installation of new signage, lighting, fencing, gates/security systems, a playground and dog park as well as a complete renovation of the leasing office/clubhouse. Other improvements included resurfacing of the pool, foundation repairs, exterior siding repairs and painting. Since the Clover Property’s acquisition, the Clover Property’s average rent rate increased from $578/month as of October 2017 to $830/month upon the sale of the Clover Property, representing a 44% increase in rent rate.
  • The Clover Property was originally acquired for $19,500,000, or $56,851 per unit, and was sold for $38,500,000, or $112,245 per unit. 

Villas de Toscana
San Antonio, TX
Villas de Toscana
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
1000000
Date Of Investment
1/31/18
Date Completed

Investment Summary

  • On January 31, 2018, RealtyMogul Apartment Growth REIT (fka MogulREIT II) acquired a $1,000,000 joint-venture equity investment related to the acquisition and renovation of Villas de Toscana (fka Tuscany at Westover Hills), a 190-unit garden-style apartment community located in San Antonio, TX.
  • The Property was built in 1984 and is comprised of studios, one and two-bedroom floor plans with an average unit size of 684 square feet. The Property is a gated community with amenities that include a basketball court, fitness center, pool, dog park, picnic area, carports, laundry facilities and a BBQ area.
  • The Real Estate Company’s business plan is to implement a value-add strategy by completing interior and exterior renovations at the Property. Unit interior upgrades are expected to include a combination of black-on-black appliances, faux-wood flooring, utility saving devices, and new fixtures. Exterior and amenity improvements are expected to address painting, carpentry, landscaping, fitness center upgrades, backyard changes, pool enhancements, and balcony improvements.
  • On December 20, 2021, the Tuscany Property was sold. The Tuscany Property was originally acquired for $14,350,000, or $75,526 per unit, and was sold for $17,650,000, or $92,895 per unit. 
Terrace Hill Apartments
El Paso, TX
Terrace Hill Apartments
Investment Type
Joint Venture Equity
Property Type
Multi-family
Invested
3385320
Date Of Investment
5/31/19
Date Completed
11/1/21

Investment Summary

Value-add acquisition of well-maintained multifamily property with further upside potential in El Paso, Texas.

Ashland Apartments
Chicago, IL
Ashland Apartments
Investment Type
Preferred Equity
Property Type
Multi-family
Invested
1440000
Date Of Investment
6/22/18
Date Completed
6/6/19

Investment Summary

  • MogulREIT II has acquired a $1,440,000 preferred equity interest (the “Investment”) related to the renovation of a 31-unit multifamily property located in Chicago, IL (the "Property").
  • The business plan is to rehabilitate the Property by addressing all deferred maintenance items and substantially improving and modernizing the Property's interiors, exteriors, and landscaping.  Upon completion of the capital expenditure plan, the Property is anticipated to offer renoveted interiors and amenities including a new workout room, storage lockers, a bike room, and new landscaping of the common area garden. The business plan is anticipated to take approximately 15 months to complete. 
  • The Property was built in 1918 and is comprised of one and two-bedroom floor plans wtih an average unit size of 777 square feet. 
  • The Property is approximately 77% leased. The Real Estate Company has intentionally left particular units vacant in order to execute the interior renovations immediately. 
  • The Real Estate Company acquired the Property in March 2018 from the original owner and anticipates using the refinance proceeds to (1) pay off an existing senior loan and (2) to repair and renovate the Property.  
  • The Real Estate Company has over thirty five years of real estate experience and has managed the repositioning of nine investment properties in the Chicago area since 2014. The Property will be managed by an affiliate of the Sponsor.
  • The Real Estate Company has secured a senior loan of $6,200,000, which includes a $1,047,000 holdback for property renovations. The loan has a three-year initial term with two 12-month extensions. 
  • The Investment has a remaining term of 60 months as of the acquisition date of June 22, 2018.   
  • The Investment is interest-only throughout the entire term.   
For a detailed description of the investments in the portfolio, please see your most recent quarterly update, as provided in the "Resources" section.
Disclaimers and Risk Factors
Investing in the Company's common shares is speculative and involves substantial risks. The Company cannot assure you that it will attain its objectives or that the value of its assets will not decrease. Therefore, you should purchase these securities only if you can afford a complete loss of your investment.


You should carefully review the “Risk Factors” section of this offering circular which contains a detailed discussion of the material risks that you should consider before you invest in our common shares. These risks include the following:



  • The RealtyMogul Apartment Growth REIT has no prior operating history.    
  • Because no public trading market for shares of our common stock currently exists, it will be difficult for an investor to sell their shares and, if an investor is able to sell their shares, they will likely sell them at a substantial discount to the public offering price.
  • We may be unable to pay or maintain cash distributions or increase distributions over time.
  • Future disruptions in the financial markets or deteriorating economic conditions could adversely impact the commercial real estate market as well as the market for debt-related investments generally, which could hinder our ability to implement our business strategy and generate returns to you.
  • This is a blind pool offering, and the REIT is not committed to acquiring any particular investments with the net proceeds of this offering.
  • There are conflicts of interest between the REIT, its Manager and its affiliates.
  • Our investments may be concentrated and will be subject to the risk of default.
  • We are dependent on our Manager and Realty Mogul, Co.’s key personnel for our success.
  • The REIT may allocate the net proceeds from this offering to investments with which you may not agree.




Note: The foregoing statements may contain forward-looking statements and are based on our current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements.
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1. Returns shown reflect the percent change in the NAV per share from the beginning of the applicable period, plus the amount of any distribution per share declared in the period. All returns shown assume reinvestment of distributions pursuant to RealtyMogul Apartment Growth REIT's distribution reinvestment plan, are derived from unaudited financial information and are net of all RealtyMogul Apartment Growth REIT expenses, including management fees. An individual stockholder’s total return may vary from the total return, and there is no assurance that stockholders will be able to realize the estimated NAV per share upon attempting to sell their shares. Past performance is historical and not a guarantee of future results.
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