Medalist Diversified REIT: Review
Category: Non-accredited investor funds
IMPORTANT COVID-19 UPDATE: this info was posted before anyone knew we would be facing a global pandemic in the spring of 2020. So it may be missing crucial information necessary to making an effective investment today. Some of the information in it may be dated, no longer accurate and/or irrelevant. For information on analyzing investments in this new era, see: "How will Covid-19 / Coronavirus Affect my Alternative Investment Portfolio?"
Medalist Diversified REIT is a commercial real estate fund that invests in multifamily, limited service hotels, flex industrial and anchored retail properties in the southeastern United States.
This is the 3rd organized vehicle for the sponsor who also had:
A fund in 2013 that raised $15 million and has delivered 8% since inception
A 2nd fund in 2015 which has delivered 7.5% since inception.
It has a target yield of 13 to 15%. Leverage is aggressive at 75%.
A very nice feature is that it's one of the few non-accredited options that charges no fees on deposit or on withdrawal.
On the other hand, other fees are much higher than average:
Asset management fee of 1.5% (versus 0.9% average)
Performance fee of 7% hurdle with 80/20 (versus no performance fee on average)
Property management fee of 3% of gross revenues (vs no property management fee average).
If this fund is successful, than the performance fee is what will make it much more expensive to an investor, versus a fund that doesn't have one.
It's minimum investment of $5000 is higher than average ($1000)
Advantages: No fees on deposit or withdrawal.
Disadvantages: asset management fee, performance fee, property management fee are more expensive than average. Performance fee is the most expensive if the fund is successful. Minimum investment of $5000 is higher than average.
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