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UDF V Offering Terminated

March 8, 2016

March 7, 2015 | by DI Wire

United Development Funding Income Fund V, a publicly registered non-traded real estate investment trust co-sponsored by UDF Holdings and American Realty Capital, is closing its offering to new investments and discontinuing its distribution reinvestment plan and share repurchase program.

The company sent a letter informing shareholders of the board’s decision not to seek a new dealer manager following Realty Capital Securities’ exit from the wholesale distribution business in December 2015.

The letter, which was sent on March 4th, indicated that the company’s DRIP campaign will terminate 10 days from the date of the letter, while the share repurchase program will terminate 30 days after. The letter also stated that the company has no intention of repurchasing any shares prior to the program’s official termination.

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Thomas E. Burns, III
July 29, 2015
February 22, 2016

I subscribe to Blue Vault to keep up with the sponsors and their wholesalers! The analysis keeps me up to date with the various portfolios and the way they are managed, including the differences between them.