GK Development Inc., a real estate investment firm and sponsor of Delaware statutory trusts and private placement offerings, announced that its program GK Secured Income I LLC has gone full cycle.
The company noted that over the life of the offering, investors received an 8 percent annualized distribution paid monthly, plus return of their invested capital over a five-year hold, as anticipated.
GK Secured Income I raised funds in 2013 to provide a loan as part of the financing to purchase the Holiday Village shopping center in Great Falls, Montana. The program raised $7.4 million from accredited investors through a Reg D private placement offering.
“Providing what you said you would, leads to happy clients. Investors received their 8 percent annualized distribution and their money back. In the current interest rate and cap rate environment, 8 percent annually is very attractive,” stated Matt Leiter, senior vice president, Equity Markets of GK Development.
Earlier this month, GK Development announced that one of its Delaware statutory trust offerings, GK DST – Cedar Falls Grocery LLC, went full cycle.
GK Development was founded in 1995 and focuses on acquiring retail, office, hospitality, medical and multifamily assets with credit tenants in markets with strong growth demographics. GK Development said that it currently oversees a portfolio valued at more than $500 million which represents 5.4 million square feet throughout the U.S.