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Monday, October 19, 2015

Rich Uncles REIT to Distribute 315K In Q3 Dividends

Welcome back amigos!  Today I have some more Rich Uncles REIT news.  The company announced the upcoming distribution of the third quarter dividend for shareholders.  I'm happy to bring it to all of you.  Take care!



Rich Uncles LLC
Rich Uncles Real Estate Investment Trust I 


$315,000 Distribution
3rd Quarter Dividends Declared


Rich Uncles is proud to be distributing $315,000 in dividend income to Shareholders for the third quarter of 2015.

A cash Dividend equal to $.1875 per $10.00 share will be paid on October 20, 2015 to interest holders of record as of September 30, 2015.

The Dividend equals an annualized 7.5% investment return.  


Business Update.

Rich Uncles REIT I has sold all of its originally authorized shares. The size of the REIT has been doubled, from $25 million to $50 million in response to Shareholder demand.

“Our Shareholders overwhelmingly approved upsizing the REIT to $50 million” said CEO Harold Hofer. 

"The additional capital will allow us to purchase more real estate and thereby further expand the diversity of our investment holdings while we continue to work with the SEC on our upcoming national REIT offering.”

“With the brisk pace of REIT share sales, we are acquiring properties on an all-cash basis, which makes us a more competitive buyer in the marketplace” Hofer continued.  

“We are placing mortgage financing on our purchases after the close of escrow while maintaining our overall 40% leverage profile.”


Investment Update.

The Rich Uncles REIT I portfolio remains 100% leased with all tenant payments timely received.

The REIT added several properties to its portfolio during the third quarter. Consistent with the REIT’s mandate, these properties are subject to long-term triple net (NNN) leases. Three new properties are located in the greater Sacramento area, including Island Pacific Market (a grocery chain featuring Filipino food products, see www.islandpacificmarket.com), Levin’s Auto Supply (see www.levinsauto.com), and Chevron (leased to a multiple service station owner/operator).

“Our real estate team has been doing a great job of sourcing new acquisitions for us,” Hofer stated.  “We have another $20 million of properties under purchase contract which we expect to close during the fourth quarter, which will expand our portfolio with new well-located investments leased to strong tenants.”

One of the REIT’s earlier investments is a partnership interest in a portfolio of 22 Del Taco restaurant properties. The partnership is selling the properties and liquidating the Del Taco portfolio. Based upon projected sales proceeds calculated by the general partner, Rich Uncles will realize a 50% profit on this investment. This sale is expected to close by year-end and the proceeds will be reinvested in additional real estate assets.


Dividend.

Rich Uncles is proud to be distributing $315,000 in dividend income to Shareholders.
A cash Dividend for the third quarter of 2015 equal to $.1875 per $10 Share will be paid on October 20, 2015 to Shareholders of record as of September 30, 2015. This Dividend equals an annualized 7.5% investment return.
   
Shareholders who purchased shares during the third quarter of 2015 will have their Dividend payment pro-rated based upon a 92 day calendar quarter, as measured from the date shown on each Shareholder’s Share Certificate.

Shareholders who purchased shares on more than one occasion will receive one check representing all of the Dividends owed to them; and those who own their shares in a custodial retirement account will have their Dividend paid directly to the account custodian.
Shareholders who have elected to participate in the Company’s Dividend Reinvestment Program will receive notification via email of their current share account balances, including the reinvested Dividends, on October 20, 2015.

Questions, Comments or Concerns.
  
Please send any questions, comments or concerns to info@RichUncles.com.  We would love to hear from you.

Rich Uncles LLC l RichUncles.com 
3080 Bristol Street, Suite 550, Costa Mesa, CA 92626 l Info@RichUncles.com l 855-742-4862

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