SCIRE Fund III GP, LLC advises pooled investment vehicles (funds) that invest in real estate assets and related equity/debt investments throughout the United States. The firm's investment strategy focuses on income-producing properties like manufactured housing, self-storage, student housing, and medical office buildings. SCIRE Fund III GP, LLC does not tailor its services to individual investors within the funds, nor does it accept investor-imposed restrictions. Seneca Capital Management has been delegated the role of investment advisor.
Fee Structure
SCIRE Fund III GP, LLC charges an asset-based management fee, typically 2% per year of called capital contributions, paid quarterly in advance. They also receive acquisition fees equal to 3% of the purchase price of each asset acquired. Additionally, SCIRE Fund III GP, LLC may receive performance-based compensation equal to 25% of profits, subject to a preferred return and the return of all capital contributions.