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Fund I contains approximately $12,000,000 in multifamily and mixed-use assets between Southeast Michigan and Northwest Ohio. It is the most matured fund so far. With the pending sale of one of its larger assets, the fund will soon be entering its legacy stage as all investors will have received their initial capital back - approximately 5 years after their initial investments were made.

Fund II is a single-asset multifamily fund with a current fair market value of around $1,850,000. This fund is currently considering a sale or refinance of its existing asset, as the current loan is scheduled to undergo its first rate reset in the spring. If the property is sold, investors will have achieved an equity multiple near 2.0x and approximately 3 years after their initial investments were made.

Fund III contains three office assets in the Lansing MSA. The assets in this fund are a mixture of distresses assets and stabilized, Class B office properties in high-demand districts. Since its inception, occupancy has steadily risen, and while distributions have not yet commenced, the fund's equity multiple is near 2.0x approximately 3 years after their initial investments were made. 

Fund IV was originally scheduled to launch this year, but after careful due diligence, we terminated the first purchase contract for the fund. The fund is now expected to launch January 1st of next year and is currently fundraising.

Fund V launched with 2 office assets purchases last year. Occupancy has steadily increased and most vacant spaces have been white boxed or leased. The fund is on-track to start distributions within 18 months of inception.