Rick Courtney
Springfield, MO (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
MidSouth Multifamily
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Startup
Location:
Springfield
Industry:
Real Estate
Year Founded:
2018
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
Founded by 30-year industry veteran Rick Courtney, MidSouth is a startup phase company formed to originate, promote and manage investment funds that acquire and operate large-scale apartment properties nationwide.
The Company's focus is on middle-market ($10m-$50m) apartment properties and it seeks stable (core-plus), as well as value-add and development opportunities with appropriate risk-adjusted returns.
MidSouth is offering qualified investors the opportunity to acquire up to 1,300 Class A Preferred Units at $1,000 per unit. In addition to the capital appreciation potential of the Company's units (shares), this offering has been structured to provide investors with a 12% preferred distribution return and an additional preferred distribution participation up to a 25% return. On a fully diluted basis, the Class A Preferred units will represent a 20% ownership stake in the Company.
MidSouth will be the originating entity (parent company) on an ongoing basis of multiple investment (URL removed) such, investors will have an ownership interest in MidSouth as a Parent Company and also an ownership interest in each of the subsequent funds it sponsors.
MidSouth intends to conduct a follow-on offering as early as the 3rd year of operations. A portion of these proceeds will be used for a voluntary buy-out option at five (5) times EBITDA for investors interested in a shorter term hold.