Overview
A. RIM is a Delaware limited partnership formed in April 2017 to provide investment advisory
services. RIM maintains its principal place of business in New York, New York and is
principally owned by Stephen Millham and Raleigh Nuckols.
B. RIM manages investment portfolios with an objective to seek to achieve value by taking long
and short positions in assets that consist primarily of publicly traded real estate and real
estate-related securities. RIM generally invests in public equities but may also invest in
corporate credit, preferred securities, options, CMBS, derivatives, and other securities that
have a significant exposure to real estate.
C. RIM provides discretionary investment advisory services to pooled investment vehicles
organized as private funds (the “Fund”, the “Funds”) and tailors its advisory services to the
respective investment objectives set forth in the applicable Fund’s Offering Documents
(defined below) and governing documents. The Funds are structured as a master-feeder
complex and consist of a master Fund and two (offshore and onshore) feeder Funds. RIM
generally does not, however, provide individualized investment advice to
investors in the
Funds (“Investors”). Nonetheless, RIM reserves the right to enter into additional agreements
with certain Investors (“Side Letters”) that alter, supplement, or provide terms and conditions
that are more advantageous than those set forth in the respective Fund’s governing
documents. RIM also provides its services to one or more separately managed accounts
(“SMA”, collectively with the Funds, “Clients”). Such services are tailored to the SMA as
described in their investment management agreement (“IMA”).
D. RIM does not participate in wrap-fee programs.
E. RIM has $1,966,670,000 in discretionary regulatory assets under management as of
December 31, 2023.
Investors should review not only this brochure but also the full content of the applicable
Confidential Private Offering Memorandum (“CPOM”) or Confidential Explanatory
Memorandum (“CEM”) (collectively “Offering Documents”) for any Fund in which they are
considering investing. This brochure is intended to be a general summary of advisory
services provided by RIM to its general client base. This brochure may be both
supplemented and superseded by the Offering Documents for each Fund.