0001104659-21-140678.txt : 20220216 0001104659-21-140678.hdr.sgml : 20220216 20211117184855 ACCESSION NUMBER: 0001104659-21-140678 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20211117 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RAD Diversified REIT, Inc. CENTRAL INDEX KEY: 0001721469 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 822026337 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 4115 WEST SPRUCE STREET CITY: TAMPA STATE: FL ZIP: 91730 BUSINESS PHONE: 855-909-9294 MAIL ADDRESS: STREET 1: 4115 WEST SPRUCE STREET CITY: TAMPA STATE: FL ZIP: 91730 CORRESP 1 filename1.htm

 

 

CrowdCheck Law LLP

700 12th St NW, Ste 700

Washington, DC 20005-4052

November 17, 2021

 

Division of Corporation Finance

Office of Real Estate and Construction

United States Securities and Exchange Commission

Washington, D.C. 20549

 

Re: RAD Diversified REIT, Inc.

Post Qualification Amendment on Form 1-A

Filed November 1, 2021
File No. 024-11020

 

 

Ladies and Gentlemen:

 

We acknowledge receipt of the comments in your letter dated November 16, 2021 regarding the Offering Statement of RAD Diversified REIT, Inc (the “Company”). We appreciate the opportunity to respond to your comments.

 

Post Qualification Amendment on Form 1-A

 

General

 

1. We note the statements on your website at https://raddiversified.com that RAD Diversified made a 36.7% annualized return in 2020 and has cleared 35.48% in the past 12 months. We also note your statement that RAD Diversified offers monthly distributions, a 5% bottom-line guarantee. Please reconcile these statements with the disclosure provided in your amended Form 1-A, including your financial statements for the applicable periods. Explain the basis for your statement regarding a 5% bottom line guarantee.

 

The Company has updated its website to clarify that that it had declared a 5% dividend for 2020, as previously disclosed in its Current Report on Form 1-U filed on April 15, 2020, and as previously disclosed in the Summary section of the Offering Statement under the title “March 2020 Declaration of Distributions.” The Company bases its statements regarding the annualized return on the difference between the offering price at a given date and the offering price 12 months later based on calculation of its NAV. The offering price of the Company’s shares at January 1, 2020 was $10.00 per share. At January 1, 2021, the NAV and subsequent offering price was $13.67, representing an increase of 36.7%. On November 1, 2020, the offering price in effect was still $13.67 and had increased to $18.52 as of November 1, 2021, which represents an increase of 35.48%.

 

Financial Statements, page F-1

2. We note you appear to have provided interim financial statements for the period ended June 30, 2020. Please provide interim financial statements for the period since December 31, 2020 as required by Form 1-A. Refer to Items (b)(3)(B) and (b)(5) of Part F/S of Form 1-A for guidance

 

The Company has revised the Offering Statement to include the financial statements required by Form 1-A.

 

Thank you again for the opportunity to respond to your questions to the Offering Statement of RAD Diversified REIT, Inc. If you have additional questions or comments, please contact me at fanni@crowdchecklaw.com.

 

Sincerely,

 

/s/ Fanni Koszeg

Counsel

 

cc:

 

Brandon Dutch Mendenhall
President and Chief Executive Officer

RAD Diversified REIT, Inc.
211 N. Lois Avenue

Tampa, FL 33609

 

 

GRAPHIC 2 image_001.jpg GRAPHIC begin 644 image_001.jpg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ⅅ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