All Distributions tier 2 over-allocates: shares sum to 150%, not 100%
Critical“thereafter, 50% to the Class A and Class B Members, as a group, pro rata based upon each Member's relative Membership Interest, and 50% to the Class C Member.”
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Sponsored by MHC America, LLC·
The cascade above is filtered to Class A. Reset to blended view.
“MHC America Class C, LLC, a Colorado limited liability company, will retain ownership of one hundred percent (100%) of the voting Interests in the Company, as Class C Interests in exchange for a total Capital Contribution of $1,000”— PPM p. 25
“Each Class A Unit being offered to investors is priced at One Thousand Dollars ($1,000). The Minimum Investment Amount required of a single Investor is Two Hundred Fifty Thousand dollars ($250,000)”— PPM p. 24
“Each Class B Unit being offered to investors is priced at One Thousand Dollars ($1,000). The Minimum Investment Amount required of a single Investor is Fifty Thousand dollars ($50,000)”— PPM p. 25
Automated checks across the fund's extracted PPM. Every finding is shown with the evidence it's based on — proven numbers or a verbatim quote and page.
Structural checks run against MHC America Fund, LLC's extracted waterfall. Each is a deterministic test — the numbers shown are proven from the PPM, not estimated.
“thereafter, 50% to the Class A and Class B Members, as a group, pro rata based upon each Member's relative Membership Interest, and 50% to the Class C Member.”
“thereafter, 50% to the Class A and Class B Members, as a group, pro rata based upon each Member's relative Membership Interest, and 50% to the Class C Member.”
A performance- or transaction-linked fee paid above the waterfall reaches the GP before the LP's distribution priorities run, eroding the pool the pref + return-of-capital draw from. Routine asset-management fees above the line are normal; a disposition/promote-flavored fee there is a leak worth pricing.
“Up to 1% of the sale price of a Property”
Questions a standard diligence questionnaire would ask that the PPM leaves unanswered.
The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
How much of a standard institutional due-diligence questionnaire this fund's offering documents answer out of the box. Gaps are questions an allocator will ask directly.
What allocators are saying. Diligence notes, open questions, attached scenarios.
Be the first allocator to leave a take.