M&A - RealtyMogul Apartment Growth REIT, Inc.

Form Type: 253G2

Filing Date: 2025-02-10

Corporate Action: Acquisition

Type: Update

Accession Number: 000149315225005473

Filing Summary: This supplement updates the disclosure regarding RealtyMogul Apartment Growth REIT, Inc.'s plan of operation relating to the Sherwood Oaks Apartments in Riverview, Florida. RealtyMogul previously acquired a $4,200,000 investment in a joint-venture limited partnership equity investment in RM Sherwood Oaks, LLC, which operates a 199-unit apartment community. Following a maturity default on a loan of $27,750,000, Sherwood Oaks successfully negotiated a loan modification on January 31, 2025, extending the loan's maturity to September 1, 2025. The modification includes a budgeted $1,400,000 for hurricane restoration work, with funds held in reserves. Concurrently, Sherwood Oaks issued a promissory note of up to $2,400,000 to finance aspects of the loan modification and restoration efforts. RealtyMogul's exposure could be reduced depending on the participation of other investors in the funding of the Member Loan, impacting the company's financial obligations related to the property and the ongoing restoration work.

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