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Started by Sam, November 07, 2018, 11:29:29 AM
Quote from: GA Investor on February 04, 2019, 02:43:26 PMDoes anybody have a way to contact RS other than the contact@realtyshares email address? I am missing 5 of 6 expected distributions from January and it has been crickets from RS despite multiple emails. I have also not received any communication from Assure or any other service.
Quote from: ramesh on February 05, 2019, 01:22:37 PMI am invested in VDL and received the same note. I don't think this is an instance of RS selling its piece; instead, I think Cooper Street Capital is selling the property and returning capital to all its investors. I say this because RS's piece is only $2.5M but the proposed transaction is for $25M.Having said that I would be happy for this transaction to go through. The less exposure I have to RS, the better.
Quote from: John_PVF on February 05, 2019, 06:01:50 PMWas the email you got from Cooper Street unsolicited? if so, how did they get your name and contact info as a deal level RS investor?
Quote from: ramesh on February 05, 2019, 06:39:51 PMQuote from: John_PVF on February 05, 2019, 06:01:50 PMWas the email you got from Cooper Street unsolicited? if so, how did they get your name and contact info as a deal level RS investor?In my case his reaching out was not unsolicited. I had reached out to him and Amy in November for some visibility into the mess at RS, and he has been helpful. When he told me he had gone over to Cooper, I asked him for color on the VDL deal, RS' approach to client communication having mutated to what it is today.All of what you say may very well be correct, but I am worried about forms of sponsor misbehavior that affect my chances of seeing my principal again. This doesn't appear to be one of those, but I will keep an open mind.
Quote from: Plimsoll on February 03, 2019, 06:42:06 AMPaul20, I am invested in Sutton Square and Kingswood Court. Both have the same sponsor, Kingswood Court is up to date on distributions, so I think there is hope for Sutton Square to get back on track.
Quote from: John on February 06, 2019, 12:27:56 PMJust received this update from RS regarding the preferred equity investment in Utah Diversified Residential Fund II, Salt Lake City, UT:February 6, 2019RealtyShares has engaged counsel and is setting up a call with the sponsor to discuss the repayment of the equity investment. RealtyShares will update you in the next 30 days when we have agreed upon a structure.Not sure why they have engaged counsel unless the sponsor--BlueMountain, Inc--has just given up on it and is trying to avoid 100% repayment. (The maturity is still months away, although the December distribution has not been made.) The sponsor didn't provide a Q2 report and the Q3 report had a balance sheet that looked like it was prepared by someone that doesn't know how to use Excel.This was BlueMountain's 6th deal with RS, so if anyone else has any experience in past or current deals with them, please post about your experience.
Quote from: Sam on February 07, 2019, 08:37:15 AMJohn - I just thought of something. You can write out your grievances here in the forum and send him a link to show we're all observing their actions.