What is the structure of the Fund?
The Fund is structured as a limited liability company (LLC) with a real estate investment trust (REIT) subsidiary. Investors invest in the LLC, which owns 100% of the REIT. The REIT subsidiary allows investors to invest in the Fund with their IRA or 401(k) without worrying about unrelated business income tax (UBIT). The REIT owns properties, and cash flow passes from the property to the REIT subsidiary. The REIT subsidiary pays dividends to the Fund and then distributes the funds to investors based on the number of units they own.