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 IV LLC has gone full cycle.
Over the life of the program, the company noted that investors received a 7 percent annualized distribution paid monthly, plus additional return of their invested capital over a three-year hold which resulted in an average overall total return of 39 percent.
GKSI IV raised funds in 2015 to provide a loan as part of the financing to purchase Lake Mead Crossing, a shopping center in Henderson, Nevada. The program raised nearly $10.8 million from accredited investors through a Reg D private placement offering.
“This Investment program achieved a 39 percent average total return over a three-year period,” said Matt Leiter, senior vice president of equity markets of GK Development. “The GK team is very pleased to provide this result for our clients and we thank them for their continued support.”
In late March, the company announced that another private placement offering it sponsored, GK Secured Income I LLC, went full cycle, and investors received an 8 percent annualized distribution paid monthly, plus return of their invested capital over a five-year hold.
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.