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| | Retirement
Housing Syndicators, Developers, Consultants & Related Services Programs -
Continued...
Retirement housing syndicates all
conform to the following general terms and conditions:
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Listing Period: each senior
housing project real estate syndication is marketed for an initial period of
90 days. If the $2.5 million sales floor is met, the listing shall
continue until 100% sell-out occurs or no sales are received for the
previous 90 days period. This means every syndication has the power to
sell out the entire development budget for a given project.
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Sales Contracts: each sales
contract is for a multiple of $25,000 - the minimum investment contract in
every case. The total amount of the financing required is equal to the
total development budget computed by Rainmaker Marketing Corporation rounded
down to the next $25,000 multiple. For example: if the total budget is
$10,285,000 then the syndication will be for $10,250,000 and the sponsor
shall post up the remaining $35,000 required to fully fund the budget.
All sales contracts are subject to 7 day right of rescission. Once the
sales contract is accepted and set for closing the sales contract is
non-refundable.
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Resales: every contract
purchaser has the right to relist their contract for sale to the public
pursuant to Rainmaker's rules and requirements (i.e.: Rainmaker must own a de
minimis interest in the contract so it can be legally advertised through
the Rainmaker Real Estate Syndication Program). All resales are
subject to profit spread maintenance costs (resale listings are not free of
charge).
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Due Diligence: the costs,
risks and liabilities associated with the production of the due diligence
documents required by Rainmaker Marketing Corporation are solely borne by
the client seeking to list their transaction. A complete due diligence
documentation of the issues in form and substance satisfactory to Rainmaker
Marketing Corporation is non-negotiable.
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Reporting: upon completion of
the syndication the developer (or sponsor if different entities are used) is
required to provide a monthly report detailing the operating and
non-operating cash flows of the project, together with a minimum data set
report that details operating activities, investment activities and the
department budget variance report.
If you have more questions
regarding the senior housing syndication program, please contact our offices at
your earliest convenience.
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Do
You Know The Secret?
When it comes to commercial real
estate development finance, it doesn't matter whether you need to raise
$5 million or $50 million, the out-of-pocket costs, advance fees and
project due diligence costs will always require the same relative
investment dollars the promoters have to fund. Do you know what
that amount is? Do you know the Secret? |
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