At the end of each quarter, closing reconciliations are completed for all of the properties owned by the Fund. Once each account is closed, the third party administrator consolidates them into the Fund financials and calculates the amount of each investor's’ distribution. Once we know your distribution amount, we will send a check or direct deposit/ACH. This can take up to 30 days.
Each property in the Fund is managed by a third-party property management company or Alturas Management Group. At the end of the quarter, each property goes through a full closing process, which can take a couple of weeks. Once the Alturas Management Group receives the reports, they are reviewed internally for accuracy and sent to the third-party administrator. They consolidate the financials, which includes ensuring that these are completed in accordance with generally accepted accounting principles. The third-party administrator also calculates the quarterly unit price at which new investors buy into the Fund, and calculates each investor's’ distribution. The third-party administrator prepares capital account statements for each investor for the quarter. After the Manager reviews the distribution calculations and statements, they send a check or direct deposit/ACH to your account.