PROJECT PORTFOLIO
MCM PARTNERS
OUR INVESTMENT SNAPSHOT
Total Capital Committed: $134,739,048
Total Capital Raised: $124,689,048
Total Capital Returned: $19,554,468
Total Distributions: $25,026,117
Current Outstanding Capital: $102,093,732
Total Projects: 42
Number of Investors: 264
UNIQUE ACCESS. EXCEPTIONAL FREEDOM.
Our Investment Portfolio
Below are a sampling of the investments projects we have embarked upon with our group of like-minded investors.
REAL ESTATE PRIVATE EQUITY
CHANCELLOR CROSSING
LOCATION: FREDERICKSBURG, VA
EQUITY RAISED: $5,850,000
INVESTED: 5/11/2022
Partners invested in the development of a 70,000+ square foot Class A grocery-anchored retail development in Fredericksburg, VA in May 2022. Through affiliates, we acquired land at the corner of Plank Road and Big Ben Boulevard and will develop the shopping center over a 12-month period. The Morgan Companies, through its affiliates, will serve as the developer.
The project will feature 4 inline retail units and 2 outparcels, anchored by Publix and Chick-Fil-A. At stabilization, expected annual cash on cash is 8.33% and the projected IRR upon a sale is 15.03%.
MCM BEAUFORT STATION, LLC
LOCATION: BEAUFORT, SC
EQUITY RAISED: $14,100,000
INVESTED: 12/22/2021
Partners invested in the development of a new retail power center on land acquired at the corner of Robert Smalls Parkway and Parris Island Gateway. Beaufort Station will be a Class A shopping center with over 200,000 SF of retail space anchored by Hobby Lobby. Tenants include Aldi Supermarket, Old Navy, Ulta Beauty, Ross Dress for Less, TJ Maxx, HomeGoods, Rack Room Shoes, Five Below, Starbucks and PetSmart.
Partners will earn 5% on equity invested during the projected 18-month construction period. At stabilization in year 3, expected average cash on cash is 10% and the projected IRR upon a sale is 17.15%.
RED ROCK INDUSTRIAL FUND
LOCATION: VARIOUS
EQUITY RAISED: $16,750,000
INVESTED: 5/17/2021
Partners invested in the third and final round of Red Rock Industrial Fund I, LP. Red Rock is managed by experienced developers who engage in speculative development in the industrial space. The Fund acquires land, builds a large distribution/industrial building, secures a tenant, then sells the building.
Deployed funds earn an annual, non-compounding, cumulative preferred return of 9%. The term is 7 years. Red Rock will call capital during the first 4 years and return capital upon a sale. During the final 3 years, Red Rock will return capital upon the sale of property.
WALGREENS PORTFOLIO
LOCATION: DELRAY BEACH, FL
EQUITY RAISED: $1,035,000
INVESTED: 12/4/2020
Partners invested in the acquisition of a Walgreens store in Delray Beach, FL in Dec 2020. The location was ground leased to RaceTrac, but rezoning was not approved.
MCM worked with Walgreens to execute a new lease extension. The asset now has a new roof and a 12-year, absolute NNN lease. As planned, the property was marketed for sale.
The Walgreens sold just over a year after our initial purchase. Actual total cash on cash return was 27.96% and IRR was 26.19%.
MCM ATHENS CHAPEL, LLC
LOCATION: ATHENS, CA
EQUITY RAISED: $425,000
INVESTED: 10/15/2020
Partners invested in the acquisition of the Chapel at 100 Prince in Athens, GA, a historic chapel built in the early 1900’s. The Chapel is adjacent to our ongoing development, a multi-use project that includes high-end apartment units and ~25,000 SF of retail.
Since the Chapel is within walking distance to Athens’ vibrant downtown and the University of Georgia, we renovated it and marketed it for lease as an iconic restaurant location.
The sale closed on 1/28/22. Total cash on cash to investors was 27.94% and IRR was 21.09%.
MCM CONGRESS, LLC
LOCATION: DELRAY BEACH, FL
EQUITY RAISED: $1,035,000
INVESTED: 12/4/2020
Partners invested in the acquisition of a Walgreens store in Delray Beach, FL in Dec 2020. The location was ground leased to RaceTrac, but rezoning was not approved.
MCM worked with Walgreens to execute a new lease extension. The asset now has a new roof and a 12-year, absolute NNN lease. As planned, the property was marketed for sale.
The Walgreens sold just over a year after our initial purchase. Actual total cash on cash return was 27.96% and IRR was 26.19%.
CHURCH STREET STATION
LOCATION: BURLINGTON, NC
EQUITY RAISED: $1,368,000
INVESTED: 2/11/2019
Partners invested in the acquisition of property consisting of a dilapidated Sears and a restaurant outparcel. The Sears was demolished and replaced with a 49,098 SF Publix with pharmacy drive-thru and 12,600 SF of shops. Publix, MyEyeLab and Habit Burger are open, with Aspen Dental, Crumbl Cookies, ELife Nails, uBreakiFix, and MOD Pizza coming soon. Popeye’s ground lease started in July 2022.
We completed our planned refinancing of the project and returned approximately 65% of investors’ initial capital. Upon stabilization, expected January 2023, our current model projects a cash on cash return in the 45% range in the first full year.
MARKETPLACE AT FLOWERS CROSSROADS
LOCATION: CLAYTON, NC
EQUITY RAISED: $1,500,000
INVESTED: 10/4/2019
Partners invested in a new Publix anchored shopping center development in Clayton, NC in 2019. Publix opened in November 2020, and the remaining retail space is 100% leased.
Long-term financing was placed on the asset in Q2 2021, allowing for almost 50% of the partners’ original equity investment to be returned.
Asset will produce an annual 19% to investors during the five-year interest only period, with an average annual cash on cash return over 10 years north of 16%.
WALGREENS REPURPOSE
LOCATION: OCALA, FL
EQUITY RAISED: $500,000
INVESTED: 9/12/2018
Partners invested in the acquisition of two closed Walgreens stores in the Ocala, FL market for $2,925,000 in Q3 of 2018. One location was ground leased to gas station operator, RaceTrac, while the other was leased as-is to Dollar Tree.
The RaceTrac ground lease sold in November 2019 for $4,100,000; the Dollar Tree property sold in January of 2020 for $2,350,000; netting over $3.5M in profit in less than 2 years.
Total ROI to investors was 92.91%, with an IRR of 71.88%.
PRIVATE LENDING
PREDEVELOPMENT LOAN
LOCATION: CHARLOTTE, NC
EQUITY RAISED: $2,000,000
INVESTED: 4/1/2021
Partners invested in a loan to The Morgan Companies in April 2021. Morgan borrowed funds for its existing pipeline of real estate development opportunities. The funds are being used for predevelopment costs including architectural and engineering fees, technical drawings and studies, legal and other professional fees, and contract deposits.
Loan term is 18 months with an annual interest rate of 7%, paid monthly.
LABCITY SPORTS TRAINING AND EVENT CENTER
LOCATION: CHARLOTTE, NC
DEBT RAISED: $775,000
INVESTED: 3/12/2021
Partners invested in a loan to LabCity, LLC in March 2021.
A young entrepreneur runs a basketball training operation and youth basketball league in Charlotte. He desired to borrow funds for the build-out of a new basketball training and gym facility. MCM led the creation of a working capital loan for Speechless Basketball.
Loan term is 5 years with an annual interest rate of 8%, paid quarterly.
TWISTED TAVERN
LOCATION: ARNOLD, MO
DEBT RAISED: $800,000
INVESTED: 9/11/2020
Partners invested in a mortgage bond to MCM-Arnold, LLC in September 2020. MCM-Arnold leased the building to Twisted Tavern & Burger, LLC. Twisted Tavern won St. Louis Magazine’s A-List New Restaurant and the chef won A-List Best Chef for 2021.
Loan term is 15 years with an annual interest rate of 7%, paid monthly.
PRIVATE EQUITY
CHRISTENSEN ARMS
LOCATION: GUNNISON, UT
EQUITY RAISED: $3,850,000
INVESTED: 8/23/2019
Partners invested in the acquisition of Christensen Arms in August 2019.
Christensen Arms is a leading gun manufacturer which specializes in highly-accurate bolt action hunting rifles and carbon fiber barrels.
We invested with KLV Capital, a Dallas based lower middle market private equity firm with tremendous operational expertise.
WHEELS UP
LOCATION: NEW YORK, NY
EQUITY RAISED: $388K, $2.1M, $566K
INVESTED: 2015, 2017, 2019
Partners invested in Wheels Up, acquiring Class B shares (2015), Class C shares (2017), and Class D shares (2019). Wheels Up is a revolutionary membership-based private aviation company that significantly reduces the upfront costs to fly privately.
Wheels Up announced plans in February 2021 of a SPAC merger with Aspirational Consumer Lifestyle Corp.
The merger closed July 2021 with Wheels Up Experience, Inc. becoming the first private aviation company to be traded on the NYSE.