MIG affiliate, Morgan Sun, LLC, is offering a non-equity investment interest in “Morgan Sun Bradenton Two LLC”. The investment will be evidenced by a Promissory Note yielding 7% annual interest, paid quarterly, in arrears, and having a maximum term of 3 years. Membership interests are offered at $10,000 per Interest. The Note will be secured by a first mortgage on 4802 W. 20th and the personal guarantee of Peter A. Morgan, Trustee of the Peter A. Morgan Revocable Trust.
The asset that is the basis of this investment is a multi-family unit located at 4802 W. 20th Street in Bradenton, Florida (“4802 W. 20th”). The Morgan Sun Bradenton Two LLC was formed with the primary purpose of owning and managing the 4802 W. 20th property and is the investment vehicle that is the sponsor of this opportunity.
The property is fully occupied and rents are consistent. Fortunately, “Hurricane Ian” did little damage to the property and has not significantly interrupted occupancy.