What is Nexregen Firewheel REIT’s ownership position in Firewheel Village?
Firewheel Village is owned by Nexregen Firewheel L.P. (the “Partnership”). Nexregen Firewheel REIT is one of three partners in the Partnership, the other two being affiliates of our advisor; and our advisor is also the general partner of the Partnership. As shares of Nexregen Firewheel REIT are sold to the public, Nexregen Firewheel REIT’s percentage interest in the L.P. will grow, up to a maximum of 90% if all shares are sold. The investment was structured in this way to allow for the purchase of Firewheel Village, and the certainty of its ownership, before shares in Nexregen Firewheel REIT were offered to the public. There is no “mark up” in Firewheel Village’s purchase price. Nexregen Firewheel REIT will pay the same price for its proportionate share.
