This is the Filing the REIT just filed. This means that NONE of the money raised is going to real estate. It means he took out loans, preffered loans, and outside investors (NOT THE REIT) to buy the property, and put in a few dollars from the REIT. So you ask WHERE IS THE money Jake Frydman raises??????????? He pays it to his other companies. United Realty Capital, United Realty Advisors, and all the other United Realty Companies he can suck cash from. READ AND UNDERSTAND THE FINANCIALS OF THIS COMPANY PLEASE PROTECT YOURSELF FROM FRAUD Closing costs were approximately $669,700, prepaid expenses and escrows were approximately $196,000 and fees paid to the Advisor were approximately $248,000. Closing costs included $362,000 in supplemental transaction-based advisory fees for financing and equity placement paid to United Realty Partners, LLC (“URP”), an entity controlled and indirectly owned by the Company’s chief executive officer and secretary. We funded the acquisition as follows: (i) $10.3 million with a new first mortgage loan secured by the property; (ii) cash from our OP of approximately $3.2 million; and (iii) a $2.1 million preferred loan from a third party. The 10-year preferred loan yields a preferred return of 15& 37; per annum, compounded monthly (increasing to 24& 37; per annum upon the occurrence of certain events of default) and requires monthly distributions to the preferred lender. The property-holding entity must redeem the preferred loan by June 6, 2024, and has the right to do so at any time upon 30 days prior written notice. Additionally, the lender of the preferred loan may require the OP to redeem the preferred loan at any time after April 21, 2015 upon 30 days prior written notice. The cash from the OP included $1.7 million in proceeds from the OP’s issuance to two third parties of an aggregate of 17 class MB units (the “MB Units”) of limited partnership interest. The OP issued 12 MB Units to one of the two investors in consideration for a capital contribution of $1.2 million. Such 12 MB Units must be redeemed by the Company in November 2014 for $1.32 million. The OP issued five MB Units to the other investor in consideration for a capital contribution of $500,000. Such five MB Units entitle the holder thereof to an annualized preferred return of 10& 37; on the amount of the capital contribution, and must be redeemed by the Company in May 2015.
After getting scammed out of $329.00 from guns-warehouse.com, a simple search of some of the verbiage in the website popped up 4 other
John Sutton is loser trash, complete scum of the earth low life idiot turd monger asshole bastard Wife Beater Threw hot water on a poor woman Bloomsburg PA
WARNING JOHN SUTTON IS A DOMESTIC VIOLENCE PURPITRATOR HE BEAT A WOMAN THEN TREW HOT WATER ON HER. HE WAS CHARGE WITH FELONY ASSAULT.
Dirty Cop Raymond Ketchmark falsified police reports. Ketchmark routinely receives grafts to make creative reports with false narrative to
They will double or triple charge you by failing transactions and then charging your account. They have no proper online or official
My family has been being harassed by a middle aged man named who goes by the name John but I have been advised by the authorities that his
We drove over a hour and bought a SUV she and the man from the service center cleared the codes found the real koh guy who we bought
BIG SCAM. DO NOT BUY. ORDERED TURQUOISE INDIAN NAVAJO RING AND GOT A RING MADE OF TIN. Previous Review Next Review
My husband and I our purchased in the fall of 2019. They enticed us saying that we could get a free vacation to Hawaii and free airfare
This complaint and/or review was posted on Defaulters.com on 04:07 am, May 16, 2018 (CST) and is a permanent record located at: https://www.defaulters.com/scam/united-realty-trust-inc-review/.
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