A Chapel Hill, North Carolina-based company has raised $1 million in equity, according to a Securities and Exchange Commission filing.

Exchange 2 LLC filed the Form D on March 28. It did not disclose what it intended to do with the proceeds.

Exchange 2 shares the same address and executives as Kairys Properties, a commercial real estate investment company specializing in student housing development. The company currently owns and operates over 125 properties with over 425 tenants.

Ted Kairys founded the firm in 2006 and serves as the chief executive officer. He also signed the SEC filing for Exchange 2 LLC.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The form can be found here.