SMC Fund I, LLC
Multifamily Real Estate Investment
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SMC Fund I, LLC, an Ohio limited liability company (the "Company") is seeking capital commitments from investors in the amount of at least Thirty Million Dollars ($30,000,000) and a maximum of Fifty Million Dollars ($50,000,000). The Company will operate as a fund to provide all the equity requirements for the acquisition of one (1) or more single member limited liability companies (the "Operating Companies") that will acquire, own and operate upper tier multifamily properties, consisting of an aggregate of approximately two thousand (2,000) rentable residential apartment units located throughout the United States (the "Venture"). The properties will be selected by the Company's manager, Summit MultiCapital, LLC (the "Manager").
The Manager and its related entities already own and manage multifamily assets located in the Rocky Mountain, Midwest, and Southwest regions of the U.S.
The Manager is looking to grow its multifamily assets going forward predominantly in the Rocky Mountain and Western regions of the country and will also consider acquiring other multifamily assets in the metropolitan areas where there is an opportunity to provide superior returns to investors. The Manager is creating the Company for the purpose of acquiring the necessary capital to make these investments, which will consist of properties similar to the ones shown above. Most new acquisitions will be less than twenty (20) years old. The Manager plans to invest the Company's funds in markets where people are moving for lifestyle changes and dynamic employment growth.
The Company will engage the services of Summit MultiCapital Advisors, LLC, an Ohio limited liability company ("SMA") and an affiliate of the Manager, who will assist the Company in managing the Company's assets, locate and evaluate multifamily properties for acquisition by the Company, negotiate on behalf of the Company the acquisition of such properties, including the ascertaining or assumption of any debt in connection with the acquisition, and an eventual sale of the property.
“Renters are increasingly choosing to renew their leases and are paying a premium to do so.”
Jay Parsons, vice president of MPF Research
The Company is a real estate investment fund formed by the Manager for the purpose of investing in operating companies (the "Operating Companies") that will own fee simple ownership of multifamily properties located across the United States.
The Company's primary strategy is to acquire, add value to, and reposition income producing multifamily properties. The Company is looking to grow its multifamily assets going forward predominantly in the Rocky Mountain and Western regions of the country and will also consider acquiring other multifamily assets in metropolitan areas where there is an apportunity to provide superior returns for investors, using the Company's investment strategy and process. Asset classifications will include value-add, stabilized high grade core and student housing properties. Most new acquisitions will be less than 20 years old. The Company plans to concentrate its acquisitions in markets where people are moving for lifestyle changes and dynamic employment growth.
The Company will operate as a fund to provide all the equity requirements of one (1) or more single member Operating Companies that will acquire, own and operate multifamily properties, consisting of an aggregate of approximately two thousand (2,000) rentable residential apartment units, located throughout the United States (the "Venture"). Each Operating Company will be organized as a limited liability company, being wholly owned by the Company. Each Operating Company will own only one (1) property. The Company will seek opportunities to acquire, own and operate multifamily properties that best meet the investment objective of the Company.
"In 2016, new supply of multifamily units will continue to enter the market at levels not seen since the 1980s; meanwhile, plans for additional construction continue to increase."
according to Freddie Mac Multifamily Outlook 2016
The Company is currently managed by seasoned business and sector professionals dedicated to the success of the Company and efficient execution of its planned operations
“Rents grew at a rate of 5.9% nationwide in 2014, and we saw an increase of as much as 9% in some areas of the country this year , particularly in secondary markets like Denver, San Francisco, and Portland.”
- Jess Black, rescour.com, 2/9/16 -
The Company is seeking subscriptions for a minimum sixty (60) Class A Units for a purchase price of Thirty Million Dollars ($30 million) (the "Minimum Offering Amount"), and a maximum of one hundred (100) Class A Units for a purchase price of Fifty Million Dollars ($50 million) (the "Maximum Offering Amount"). The price per Class A Unit is Five Hundred Thousand Dollars ($500,000). The Manager may, in its discretion, accept subscriptions for one or more fractional Class A Units.
"The Wealthy Turn to Real Estate”
The SMC Fund I, LLC 506(c) Investor Portal provides the capability for prospective accredited investors to become approved as a “prospect", review accreditation requirements, request delivery of the Private Placement Memorandum (“PPM”) with multiple delivery options (print, electronic, flip book), access management contact information, and view the Company’s SEC Form D filing.
For the Company’s management team, this allows for controlled access to the PPM with the prospect providing contact information and, after approval, being added to the investor prospect database which provides management an effective tool for investor prospect relations and management.
Once a prospective investor has decided they are interested in investing, we can then upgrade the prospect account to “Investor” level access. This access now provides the capability for investors to download subscription documents, specific process information for investing and instructions on transfer of investment funds, investor relations contact information, and the ability to see in real time statistics on the offering.
Investor level access also includes access to an investor relations module that provides Investors the capability to access updates from management, quarterly and annual reports, operations or project updates from the Company, press releases, and Company financials. The portal’s mobile “app” type interface will allow the Company’s management team to review and approve upgrading prospects to “Investor” status from mobile devices in real time.
Any historical performance data represents past performance. Past performance does not guarantee future results; Current performance may be different than the performance data presented; The Company is not required by law to follow any standard methodology when calculating and representing performance data; The performance of the Company may not be directly comparable to the performance of other private or registered funds or companies; The securities are being offered in reliance on an exemption from the registration requirements, and therefore are not required to comply with certain specific disclosure requirements; The Securities and Exchange Commission has not passed upon the merits of or approved the securities, the terms of the offering, or the accuracy of the materials.