Does Trueline Capital Fund II have a monthly distribution?
Yes, an 8% preferred return is distributed monthly via ACH or Check. Investors can also elect to reinvest distributions, in this case, their capital account would increase each month instead of receiving a cash deposit.
Beyond the 8% Preferred Return, when are extra earnings distributed?
There is a quarterly profit distribution (called an “EDC” or excess distributable cash) made after the end of each quarter depending on fund performance.
When will the preferred return or excess distributable cash (EDC) be deposited in my account or send to me?
Normally, your monthly preferred return will be available within the first two weeks of the following month. For example, you will receive your July preferred return around August, 11th. Your monthly excess distributable cash follows the same cadence and should be deposited or sent for Q1in early April, Q2 in early July, or Q3 in early October. The Fund goes through an annual audit at the closing of the year; your Q4 distribution reflecting the year-end balance and K-1 tax form will only be available after the completion of the audit in March.
Is my capital distributed across all loans in the fund?
Yes, all equity investors are immediately diversified across all the loans in the portfolio.
Where do I access my monthly and quarterly statements?
How many loans do you have in the Fund II?
We currently have about 45 loans across 149 doors in the portfolio across various Pacific Northwest housing markets.
Are they first position only or you also have junior position loans?
We are primarily a first position lender. Occasionally we will hold a second position loan but we maintain our underwriting and risk guidelines.
What’s the redemption period/ clause?
We ask equity investors in the Fund to maintain their investment for 2 years, after that period investors can request redemptions with 90 days notice.