Prudent Growth Partners LLC, a real estate investment trust, raised $1.06 million in a private equity offering, according to a Sept. 29 filing with the Securities and Exchange Commission.
Prudent Growth Partners unit PGP Meadows LLC raised the money from 14 investors.
PGP Willow Woods LLC, another affiliate, also raised $1.5 million in an offering in August 2016.
The company focuses on investing in mid-level real estate, often overlooked by larger organizations, costing between $3 million and $6 million. This includes multi-family apartment complexes and local retail centers.
According to the company’s website, Prudent Growth Partners has acquired $22.5 million in property value over the past year, and investors typically see returns greater than 10 percent.
Tom Hahn is the company’s president and invests and manages over three-dozen real estate investment LLCs throughout the Southeast, Midwest and Mid-Atlantic. Hahn also acts as an executive vice-president at ICAP Energy 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 know as a Form D electronically with the SEC after they first sell their securities.