Legendary Capital

Legendary Capital is a rapidly growing sponsor of non-traded REITs and Qualified Opportunity Zone funds. Legendary Capital’s programs are supported by a nationwide distribution syndicate comprised of broker/dealer firms, registered investment advisor firms, registered representatives and independent advisor representatives.

Lodging Fund REIT III (LF-REIT III) is a $100 million publicly reporting, non-traded real estate investment trust (REIT) focused on acquiring and operating a diverse portfolio of 80-to-200-room limited-, select-service and extended-stay hotels, with strong mid-market brands (Marriott, Hilton, Hyatt, IHG), primarily located in America’s heartland. LF-REIT III owns its properties through a taxable REIT subsidiary (TRS) structure, which allows it to own individual properties and the tenants operating those properties. The TRS structure generates two potential income sources from each property – one from lease revenue and one from operational net cash flow.

Virginia Beach Qualified Opportunity Zone (VAB-QOZ) is a $12 million Qualified Opportunity Fund which owns and intends to fully remodel the Crowne Plaza Virginia Town Center in Virginia Beach, Virginia.

Revive Opportunity Fund is a $250 million Qualified Opportunity Fund focused on acquiring and renovating 150-to-400-room full-service hotels in MSAs of at least 250,000. Assets selected for the portfolio will present potential for improved performance through combined renovations and operational enhancements.

Proudly headquartered in Fargo, North Dakota, Legendary Capital’s team embodies Midwestern values and work ethic. With decades of experience in hospitality, real estate, operations, finance and acquisitions, our team is uniquely qualified to identify and acquire properties with the potential to maximize cash flow and appreciation for shareholders. Everyone at Legendary Capital is steadfastly committed to one mission: Taking Care of the Capital.

Performance

Legendary Capital has sponsored the acquisition of the 92-room avid hotel Memphis—Southaven in Southaven, MS, in a $12-million, all-cash transaction. The midscale hotel opened October 11, 2021, as the newest hotel within its competitive set. Located off Interstates 55 and 69, the avid is close to Memphis International Airport and Graceland.  

Operational

Legendary Capital sponsored a 175-room Holiday Inn El Paso Sunland Park acquisition in a $9.7 million UPREIT transaction in June 2021. The transaction utilized Legendary Capital’s “Equity Preservation UPREIT” mechanism, where the property owners contributed their hotel in exchange for a special class of transition partnership units. 

Capital Raise

Legendary Fund REIT III OP, LP (LF-REIT III) is a Reg. D offering that allows owners of interests in real property to exchange them for limited partner units. LF-REIT III owns its properties through a taxable REIT subsidiary (TRS) structure, which allows it to own individual properties and the tenants operating those properties. The TRS structure generates two potential income sources from each property – one from lease revenue and one from operational net cash flow. 

Management Team

Corey Maple

Chairman and Chief Executive Officer

Rick Vitale

Chief Distribution Officer, Lodging Fund REIT III

PRIVATE OFFERINGS

Information about Private Offerings is available in the Blue Vault Database (for financial professionals only).

Legendary Capital
1635 43rd Street
Suite 205
Fargo, ND 58103

Phone Number
701-630-6500

 

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