Crew Notes
The investment opportunity is structured to provide an 8% annualized return in senior monthly distributions with repayment of initial capital at the end of the 18 months.
Crew Notes
About Offering
The investment opportunity is structured to provide an 8% annualized return in senior monthly distributions with repayment of initial capital at the end of the 18 months. (subject to the managing broker-dealer fee, commissions, and expense reimbursements as stated in the offering circular)
Crew Enterprises is a real estate development and asset management company focusing on multifamily, student housing, and hospitality projects across the U.S. Occasionally, Crew may undertake projects in other asset classes. Crew Enterprises acquires properties through its investment programs. Crew sponsors which are targeted towards income-seeking investors to provide those investors with long-term, stable cash flow. Crew Enterprises Invest generates revenue by providing organization, acquisition, development management, and asset management services to various programs. Crew intends to use the net proceeds from this offering for growth strategies, which are expected to include: (i) real estate acquisitions; (ii) development costs; and (iii) other general corporate purposes.
The Crew Notes are senior unsecured indebtedness of our company Crew Enterprises, LLC. The Notes rank junior to any of our secured indebtedness and senior to our other unsecured indebtedness and will be structurally subordinated to all indebtedness of our subsidiaries. No portion of the proceeds will be used to compensate our officers or director.
Series A Offering Overview
Series A
Series R
Maximum Offering Amount
$25,000
$5,000
Duration
3 Years
18 Months
Ranking
Senior Unsecured Debt
Senior Unsecured Debt
Prices (No Partials)
$1,000
$1,000
Issued CUSIP
Quarterly
Quarterly
Trade Dates
1st & 3rd Thursday of Each Month
1st & 3rd Thursday of Each Month
Record Date
Last Day of the Month
Last Day of the Month
Distributions Paid
15th of the Month
15th of the Month
Distributions Frequency (Based on 360 Day Year)
Monthly
Monthly
Penalty-Free Redemption
Death, Disability, Bankruptcy
Death, Disability, Bankruptcy
Optional Redemption
Year 1 - 10% Year 2 - 8% Year 3 - 6%
4%
Quarterly Redemption CAp
3.75%
3.75%
Bond Services Reserves
3.75%
3.75%
Accreditation Requirement
No
No
Concentration Limit
10% for Non-Accredited Investors
10% for Non-Accredited Investors
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Tier 2, for offerings of up to $75 million in a 12-month period.
There are certain basic requirements applicable to both Tier 1 and Tier 2 offerings, including company eligibility requirements, bad actor disqualification provisions, disclosure, and other matters. Additional requirements apply to Tier 2 offerings, including limitations on the amount of money a non-accredited investor may invest in a Tier 2 offering, requirements for audited financial statements and the filing of ongoing reports. Issuers in Tier 2 offerings are not required to register or qualify their offerings with state securities regulators.
Regulation A may provide an opportunity for you to invest in early stage and smaller companies and businesses. Before investing, you should be fully aware that your investment will involve risk. Following are some general risks to keep in mind:
Speculative
Investments in startups and early-stage ventures are speculative and the businesses may fail. Unlike an investment in a mature business where there is a track record of revenue and income, a startup often relies on the development of a new business, product or service that may or may not find a market.
Illiquidity
Even though there is no resale restriction, you may need to hold your investment for an indefinite period of time. If the securities are not, and if there are no plans for the securities to be, listed on an exchange where you can quickly and easily trade the securities, you will have to locate an interested buyer when you do seek to resell your investment.
Below is a list of some important risks to consider before making an investment decision into Legion. This list is only a summary, and should be read in conjunction with our Offering Circular
- Investments in small businesses and start-up companies are often risky.
- The Company has limited operating history.
- The Company may need additional capital, which may not be available.
- The Company’s management has broad discretion in how the Company use the net proceeds of an offering.
- The Company may not be able to manage its potential growth.
The Company faces significant competition. We must manage our portfolio so that we do not become an investment company that is subject to regulation under the Investment Company Act. Rapid changes in the values of our other real estate-related investments may make it more difficult for us to maintain our exclusion from regulation under the Investment Company Act. Our operating results may continue to be adversely affected as a result of unfavorable market, economic, social and political conditions.
Our results of operations may be negatively impacted by the coronavirus outbreak. Real estate valuation is inherently subjective and uncertain.
We may need to foreclose on certain of the loans we originate or acquire, which could result in losses that harm our results of operations and financial condition.
The properties underlying our loans and investments may be subject to unknown liabilities, including environmental liabilities, that could affect the value of these properties and as a result, our investments.We may be subject to lender liability claims, and if we are held liable under such claims, we could be subject to losses.
Risks Related To Our Business & Our Industry
RISKS RELATED TO OUR BUSINESS & OUR INDUSTRY
Our company’s core business is the syndication of DST real estate properties which may not perform as expected. Our DST business through which we acquire properties and sponsor securities involves legal and regulatory risks which could subject us to liability or litigation. Our substantial indebtedness could adversely affect our financial condition and our ability to operate our business. Our property development activities are subject to real estate development risks which may reduce cash available for operations and redemptions. Economic and regulatory changes that impact the real estate market generally may decrease the value of our investments and weaken our operating results. Properties that have significant vacancies, especially discounted real estate assets, may experience delays in leasing up or could be difficult to sell, which could diminish our return on these properties thereby lowering our disposition fees. *Syndication and disposition fee revenue from existing portfolio assets will go directly back to repaying this bond offering. Regulation A offerings carry a high degree of risk, including the potential loss of the entire investment.
RISKS RELATED TO OUR BUSINESS & OUR INDUSTRY
Our company’s core business is the syndication of DST real estate properties which may not perform as expected. Our DST business through which we acquire properties and sponsor securities involves legal and regulatory risks which could subject us to liability or litigation. Our substantial indebtedness could adversely affect our financial condition and our ability to operate our business. Our property development activities are subject to real estate development risks which may reduce cash available for operations and redemptions. Economic and regulatory changes that impact the real estate market generally may decrease the value of our investments and weaken our operating results. Properties that have significant vacancies, especially discounted real estate assets, may experience delays in leasing up or could be difficult to sell, which could diminish our return on these properties thereby lowering our disposition fees. The VIP Bonds will be offered to prospective investors on a best-efforts basis by WealthForge Securities, LLC, a member of FINRA / SIPC Crew Enterprises and WealthForge are not affiliates. *Syndication and disposition fee revenue from existing portfolio assets will go directly back to repaying this bond offering. Regulation A offerings carry a high degree of risk, including the potential loss of the entire investment.
