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America360, LLC

Sponsored by Dahn America360 Manager, LLC·

Self Storage· Equity· LLC · 1 class· ● High· PPM v1· Updated 12d ago
1 data note
Unusual structure
Run the numbers
Composite
64.7
median 57 +8
Pref Return
8%
median 8.0% +0.0%
LP Take (Base)
88.6%
median 100.0% 11.4%
GP Commit
0.0%
median 0.0% +0.0%
Min Investment
$25K
ticket size
Offering Size
$50M
target raise
Cascade · Distributions

Where each dollar goes

$875K
LP $775K · Fees $75K · GP $25K
GROSS PROCEEDS$875KGPFFees to Manager$75,063 · 8.6% of grossLPT1Return of Capital$500,000 · 57.1% of grossLPT2Preferred Return (8%)$200,000 · 22.9% of grossLPLPT4Residual Split (75% / 25%) · 11.4%Limited Partners · $75KGeneral Partner · $25Kpool fully distributed
Standard scenario · $500K equity · 5y hold · 1.75× exitRun your own cascade →

Deal diligence4 findings · worst high

Automated checks across the fund's extracted PPM. Every finding is shown with the evidence it's based on — proven numbers or a verbatim quote and page.

Waterfall structure

Structural checks run against America360, LLC's extracted waterfall. Each is a deterministic test — the numbers shown are proven from the PPM, not estimated.

Disposition Fee (0.75%) is taken above the waterfall

Medium

A performance- or transaction-linked fee paid above the waterfall reaches the GP before the LP's distribution priorities run, eroding the pool the pref + return-of-capital draw from. Routine asset-management fees above the line are normal; a disposition/promote-flavored fee there is a leak worth pricing.

Disposition Fee in an amount up to 0.75% of the sales price of the Projects
PPM p.1785% confidence

Diligence gaps

Questions a standard diligence questionnaire would ask that the PPM leaves unanswered.

DDQ gap: Does the fund engage an independent auditor?

High

The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: Does the fund use a third-party fund administrator?

Medium

The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: What is the GP's capital commitment (skin in the game)?

Medium

The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ readiness

How much of a standard institutional due-diligence questionnaire this fund's offering documents answer out of the box. Gaps are questions an allocator will ask directly.

77%
Coverage
10 answered0 partial3 gaps13 questions
Economics
  • What is the preferred return (hurdle) rate offered to LPs?Preferred return of 8%.Answered
  • What is the LP/GP carried-interest split above the preferred return?75% LP / 25% GP residual split.Answered
  • Is there a GP catch-up, and at what rate?No GP catch-up.Answered
  • Does the fund have a GP clawback provision?Yes — GP clawback present.Answered
  • What is the GP's capital commitment (skin in the game)?Gap
Structure
  • What distribution-waterfall structure does the fund use?Waterfall type: American.Answered
  • What is the fund's investment strategy / asset class?Equity · Self StorageAnswered
  • What is the fund's vintage year?Vintage 2014.Answered
  • What is the target offering size?Target offering of $50,000,000.Answered
  • What is the minimum LP investment?Minimum investment of $25,000.Answered
Fees & Expenses
  • Is the fund's fee schedule disclosed (management fee, etc.)?8 fee line item(s) extracted from the offering documents.Answered
Governance
  • Does the fund engage an independent auditor?Gap
  • Does the fund use a third-party fund administrator?Gap

Fee scheduletaken before LP distributions

Total load 22.40%
Fee
Trigger
Basis
Rate
At acquisition
Purchase Price of Projects
0.50%
Quarterly
Purchase Price or Gross Contribution Value of Projects
1.00%
Monthly
Gross Revenues from Projects
5.90%
At construction
Construction/repair expenditures up to $50,000 (4% $50-100k; 3% over $100k)
5.00%
At financing/refinancing
Amount of financing or refinancing
0.25%
At disposition
Sales Price of Projects
0.75%
Selling Commissions
At sale of Units
Total Sales
7.00%
Organization and Offering Expenses
At offering
Offering Proceeds
2.00%

Service providers3 gaps

Legal Counsel
Gap
Not disclosed
No independent counsel named for investors. Common in small syndications where Manager and Fund share counsel — reduces independence. Verify during diligence.
Auditor
Gap
Not disclosed
Audit intent not stated in PPM. Ask the sponsor: will the fund be audited, by whom, and on what frequency?
Fund Administrator
Gap
Not disclosed
No third-party fund administrator referenced. Manager likely handles admin internally — common for <$10M raises but reduces independence.
Placement Agent
OK
No placement agent engaged
No placement agent engaged. Direct placement by Manager — no placement fees eat your invested capital.

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