Summary of fund terms for GTIS Qualified Opportunity Zone Fund LLC, a Delaware LLC structured as a private REIT. The fund has a target size of $500 million, an investment period of 3 years with two six-month extensions, and a term of up to 13 years after the final capital call. It offers an 8% preferred return to shareholders, with a catch-up distribution of 60% to GTIS and 40% to shareholders until GTIS receives 20% of total profit. The incentive fee is 20% to GTIS after the catch-up full-return waterfall. Management fees are 1.6% on shareholder subscription amount until the end of the investment period, and 1.6% on net asset value thereafter. The fund is open to accredited investors with a $100,000 minimum commitment, targets 60% leverage with a maximum of 70%, and has a sponsor commitment of the lesser of 1% or $5 million in cash commitments by GTIS employees and affiliates.
doj/DataSet10/EFTA01378910.pdf
{"key_people":["GTIS employees"],"document_type":"tabular","document_subtype":"Fund Terms Summary","key_organizations":["GTIS Qualified Opportunity Zone Fund LLC"]}