Summary of Terms
Product
Shares of non-voting common stock (the “Shares”) in a perpetual life, institutional-quality private placement security that owns income producing private real estate properties leased to the federal government.
Structure
Rule 506(c) under Regulation D; Maryland UPREIT
Target Portfolio Allocation
Primarily existing GSA Properties using an investment strategy targeting long-term leases that provide stable cash flow, and short-term leases that may achieve higher rent rates if renewed
Sponsor / Advisor
Gray Harbor Capital, LLC / Gray Harbor Government Advisors, LLC
Maximum Offering
No maximum
Offering Price
Initially $1,000 per Share (Currently $1,049 per Share)
NAV Frequency
The Share NAV is calculated by an independent third-party semi-annually as of December 31st and June 30th of each year and approved by the Board. The Offering price per Share will be adjusted to reflect a new Share NAV if the NAV is adjusted by the Board.
Distribution Frequency
Monthly (not guaranteed and subject to approval)
Minimum Subscription
$100,000
Management Fee
0.75% per annum of gross asset value, payable monthly
Performance Participation Interest
80.0% / 20.0% split over a 6% cumulative, but not compounded, annual return on Net Capital Contributions (with no catch-up)
Maximum Fund Load
Up to 2.75% Total
- Organizational and Offering Expenses 1.00%
- Cobalt Capital Placement Fee up to 1.75%
Suitability Standards
Accredited Investors as defined in Regulation D.
Certain states have additional suitability standards.
See the Memorandum for more information.
Subscriptions
Subscription agreements may be submitted weekly on an ongoing basis
Lock-Out and Liquidity Provisions
Year 1 Lock-Out Period
Year 2 The 1st year following the Lock-out Period: 97% of NAV.
Year 3 The 2nd year following the Lock-out Period: 98% of NAV.
Year 4 The 3rd year following the Lock-out Period: 99% of NAV.
Thereafter, an amount equal to the then-current Share NAV.
Share Repurchase Plan
The total Shares repurchased in a calendar year is limited to no more than 1.25% per calendar quarter, and no more than 5% per year, of the total outstanding Shares as of December 31 of the previous calendar year.
Tax Reporting
1099-DIV
Summary of Terms
Product
Shares of non-voting common stock (the “Shares”) in a perpetual life, institutional-quality private placement security that owns income producing private real estate properties leased to the federal government.
Structure
Rule 506(c) under Regulation D; Maryland UPREIT
Target Portfolio Allocation
Primarily existing GSA Properties using an investment strategy targeting long-term leases that provide stable cash flow, and short-term leases that may achieve higher rent rates if renewed
Sponsor / Advisor
Gray Harbor Capital, LLC / Gray Harbor Government Advisors, LLC
Maximum Offering
No maximum
Offering Price
Initially $1,000 per Share (Currently $1,049 per Share).
NAV Frequency
Share NAV will be re-established by the Board semi-annually as of December 31st and June 30th of each year. The Offering price per Share will be adjusted to reflect a new Share NAV if the NAV is adjusted by the Board.
Distribution Frequency
Monthly (not guaranteed and subject to approval)
Minimum Subscription
$100,000
Management Fee
0.75% per annum of gross asset value, payable monthly
Performance Participation Interest
80.0% / 20.0% split over a 6% cumulative, but not compounded, annual return on Net Capital Contributions (with no catch-up)
Maximum Fund Load
Up to 2.75% Total
- Organizational and Offering Expenses 1.00%
- Cobalt Capital Placement Fee up to 1.75%
Suitability Standards
Accredited Investors as defined in Regulation D.
Certain states have additional suitability standards.
See the Memorandum for more information.
Subscriptions
Subscription agreements may be submitted weekly on an ongoing basis
Lock-Out and Liquidity Provisions
Year 1 Lock-Out Period
Year 2 The 1st year following the Lock-out Period: 97% of NAV.
Year 3 The 2nd year following the Lock-out Period: 98% of NAV.
Year 4 The 3rd year following the Lock-out Period: 99% of NAV.
Thereafter, an amount equal to the then-current Share NAV.
Share Repurchase Plan
The total Shares repurchased in a calendar year is limited to no more than 1.25% per calendar quarter, and no more than 5% per year, of the total outstanding Shares as of December 31 of the previous calendar year.
Tax Reporting
1099-DIV
The information contained herein is qualified in its entirety by the Memorandum. The Offering is being made by means of the Memorandum only to accredited investors who meet minimum accreditation requirements, as well as suitability standards as determined by a qualified broker-dealer or investment advisor. All prospective investors must read the Memorandum, including the “Risk Factors,” prior to investing.