Ratel Investments
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Performance1

Ratel’s primary investment focus is multi–tenant assets in strong local markets that have correctable cosmetic, operational or marketing flaws at the time of acquisition. We target investments that have the potential to deliver to our investors a 13% - 17% internal rate of return as well as non-cash tax depreciation benefits while providing recurring cash flow during the life of the investment.

Realized Investments2
Since our founding in 2001, Ratel has sold fourteen investments which delivered to our investors, net of all fees, expenses and profit sharing:

• 19.81% return on equity (ROE).
Or, if measured as a multiple of original invested equity, Ratel has returned on
average 1.2x our investors’ original equity.
• 10.47% internal rate of return (IRR).

 

Footnote 1:
• The returns listed above are net of all fees, expenses and profit sharing to Ratel as of April 2013.
• While Ratel believes these figures to be accurate, the aforementioned performance figures are unaudited.
• Tax analysis assumes a 38% effective Federal tax rate for an individual investor and a 9% effective State tax rate.
• Past performance is not predictive of future returns.
• No investment decision should be made based on these figures.
• No two real estate investments are the same. The merits and risks of each investment opportunity should be evaluated
independently.
• Ratel’s investment opportunities are available only to accredited investors. Investors must request and thoroughly read the
Private Placement Memorandum Ratel creates for each investment prior to investing.

Footnote 2:
• ROE and IRR return figures do not include the non-cash tax depreciation tax benefits Ratel’s investors received during the life
of their investments.

Footnote 3:
• Ratel accountant’s estimate of the average depreciation benefit that flows to each investor per annum.