|
|
| Once a desirable project is identified and the property is under contract, an LLC is formed in which the Urban Fund is the Managing Member and the investors are the limited liability Members. The project is then developed for its ultimate use or potential and then sold or portfolio'd for long term ownership. On liquidation, the investment equity together with a Preferred Return is the first distribution to the Members. Any remaining proceeds are then shared between the Members and the Managing Member (Urban Fund) according to the prescribed terms of the LLC Agreement. |
|
|
|
