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Terence
(double posted, see below) The Offering states this is debt that is paid 12-20% of gross revenue (page 7 and 8); but on page 18, it says "As a limited partner, you will have the right to receive cash disbursements from the company when there is free ...
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William
This is straight debt, but there are several statements in the disclosure doc that imply investors in this offering will be limited partners. Suspect these are holdovers from a prior equity raise. Would suggest re-filing a corrected version to avoid ...
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Christopher
When does Railway expect the lease payments to start under the mater lease and what is the latest expected opening date? Also what has been causing delays at Bravery and is there a plan to make sure this project doesn't face similar delays?
Paul
Are residents from Cottage Grove Lake and surrounding neighborhoods going to be able to access the facilities directly? There is currently a railroad between us and the building, will a footpath be built?
Daniel
This is a good question... can someone answer this?
Emily
Sorry - one more question: can you please confirm that repayment of 2x the loan amount is an obligation if not repaid through revenue sharing before month 96 (or 1.65x by month 60) or is it a target/not to exceed?
Emily
I apologize if I've missed any of the answers to these in the Offering Statement: Are the Reg CF and Reg D secured at the same seniority? Do they get repaid on a pro rata basis? Is any debt senior to these obligations? Does the entity seeking inves ...
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William
Reg CF and Reg D are exemptions from registration with the SEC. Those exemptions do not change the terms of the notes, which would be the same for everyone. There is no difference from the investor's perspective. It does not look like the issuer o ...
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Emily
Thanks - what about any other debt obligations that may be senior to this issuance?
Terence
Disclosure says there are no debts senior (page 11).
Arun
Any lawsuits/bankruptcy filings against the founders in a personal capacity or previous entities in the past?
Arun
Why does the NS loan payment in the last year drop to 18%+ & not 20% like the earlier years?
William
Consolidating your questions in one post may be helpful. The projected nextseed loan repayment drops in year 7 because it would be fully repaid that year if the revenues are as projected. What seems odd is the total payments add up to nearly $5.4 m ...
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Arun
I wish I could have consolidated my questions in 1 post but apparently Next Seed doesn't have this capability as it restricts each comment to 500 words (support confirmed the limitation)
Arun
Can you describe the relationship between Nomads & the construction contractor as that’s cited as a non-arms length transaction by the auditor?
Arun
Are Next Seed investors “preferred” equity or junior to other investors?
Railway Heights Market
ISSUER
No equity, this is debt.
Terence
The Offering states this is debt that is paid 12-20% of gross revenue (page 7 and 8); but on page 18, it says "As a limited partner, you will have the right to receive cash disbursements from the company when there is free cash flow available for suc ...
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Arun
What’s the business case for the “micro-apartments” on this site given that the project location isn’t within a CBD? What hurdles should the retail side cross before which the micro-apartments start getting built?
Railway Heights Market
ISSUER
We are not affiliated with the apartments, but there are multiple apartment developments in the area. It’s a hot area for residential so I am sure they will do well.
Arun
Is the “developer” mentioned in the offering description for the micro-apartments - “Nomads”?
Railway Heights Market
ISSUER
No, the developer of the micro apartments and the whole development is Easy Park.
Arun
Is 2020 when the market with its vendor spaces built is going to open? Any approximate date/month this is planned for to happen
Railway Heights Market
ISSUER
March 2020
Arun
From the offering description, it looks like there are different types of rentals. So, what are the different lease periods like?
Railway Heights Market
ISSUER
Lease 3 months to 1 year for retail. 1 year to 3 year for restaurants. 1 year to 3 year for grocery store concepts with pop ups weekly. Base rent plus 6%.
Arun
Is the founders equity of $100k in cash with no leverage?
Arun
Are your other 2 ventures cash flow positive?
Railway Heights Market
ISSUER
We have multiple businesses most are cash flow positive. Others will be by end of year. All have very good reviews on yelp, google, etc.
Arun
Your other 2 business are still new. So, what made you take on this new venture thereby risking lack of focus on all 3 ventures?
Railway Heights Market
ISSUER
We are scaling the food hall business model to Houston and other parts of the country. Food halls are a big disrupter and we need to scale to capture the best locations and the best vendors. The bigger we become the more opportunities we can provi ...
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Arun
A very interesting concept & something I see will be a value addition to Houston but having said that here under are my questions: The location will close enough to the stated areas in the video, it still feels like a isolated space. Usually, for suc ...
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Railway Heights Market
ISSUER
The main purpose of this location was to find something centrally located yet underserved and relatively affordable piece of dirt that allowed us to charge the rents we’re able to charge in hopes of attracting mom and pops, local farmers, local artis ...
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Bradley
What is a "Parallel Offering (Reg CF & Reg D)"?
Railway Heights Market
ISSUER
Hi Bradley, We opted for a parallel offering because utilizing a Reg D offering allows us to raise more than $1 million. The Reg CF portion is capped at $1 million, but it allows non-accredited investors to participate. You can find more informati ...
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Jason
When is the building projected to open and start generating revenue? As I understand it, the 96 month maturity begins with the first month of revenue. Is that correct?
Robert
Offering Statement says expected opening is fourth quarter of 2019. But the maturity date is based on the closing date of the offering (not the opening date). Repayment starts after the first full month of revenue is generated.
Railway Heights Market
ISSUER
Hi Jason & Robert, We are now projecting to open during the first quarter of 2020. The maturity is based on the closing date, and repayment begins in the month following the first full month of operations.
Nathan
Is the $2,000 minimum investment set by the issuer or NextSeed? If the former, what was the rationale behind that? I was hoping to invest under Reg CF, but $2,000 is over my 12-month limit at the moment.
Railway Heights Market
ISSUER
Hi Nathan, This was set by us (the Issuer). We wanted to allow everyone the ability to participate while also being mindful of the large amount we’d like to raise through this channel.
Nathan
I hope you might reconsider that if possible (I'm not sure if that's something that could be changed without having to restart the campaign). While I certainly understand the desire the set a minimum in a way that ensures you meet your minimum goal, ...
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Trey
Happy to be an investor in this one and support our local business community. Question, and maybe I missed it when I read the business model, but will the business entity we are investing in own both the building and land? Owned in a separate real es ...
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Railway Heights Market
ISSUER
Railway Heights neither owns the building or the land. It holds a master lease.