This is a non-traded REIT, meaning it is not traded on a stock exchange. NEVER invest in private equity. In 2012 Blue Vault Partners LLC and The University of Texas at Austin McCombs School of Business conducted a study and determined that 71% of non-traded REIT's
under performed their benchmarks. If you're really in love with real estate then why not just invest in a real estate ETF like RWR. All you'd pay is a $9.99 brokerage commission. Annual expense ratio is only 0.25%.
One of the core problems with non-traded REITS is the lack of price transparency. Investors are unaware that their broker's commission is being subtracted from your investment vale!
Another problem with non-traded REIT's is the simple question of how do you know what shares of real estate are worth? With real estate, in the absence of an actual independent appraisal, you don't know what it's worth. And ultimately it isn't until you sell real estate property that you know what it's really worth.
Non-traded REITs are also much riskier than "advertised" by the brokers who all too often sell them to senior citizens who think that they are similar to and as safe as bonds. Here's an all too common story about a REIT that dropped 25% in value in one day!!!
http://online.wsj.com/article/SB10000872396390444433504577651651830164914.html Here's some other non-traded REIT disasters...
http://www.nytimes.com/2012/10/23/business/david-lerner-associates-ordered-to-pay-14-million.html?_r=0http://online.wsj.com/article/SB10001424127887324659404578499023162281746.html?mod=googlenews_wsj