$50MM AUM | $360,000 GDC in Wilmington, NC
Member is Interested In:
RIA with one client, a closed-end mutual fund that invests in/purchases small balance commercial real estate loans. It is somewhat similar to REIT. The parent is a national bank looking to divest its interest by either transferring ownership at no cost, or finding a replacement RIA to take over the Fund's advisory contract.
The IA fee the Fund is authorized to pay is 1.75%. There is a cap until 1/1/18 that is limiting the current fee to about 0.75%.