DERMODY PROPERTIES INDUSTRIAL FEEDER FUND LLC

DERMODY PROPERTIES INDUSTRIAL FEEDER FUND LLC is a Delaware limited liability company organized in 2016 that filed a Form D with the SEC on February 10, 2017, describing itself as a other investment fund. The offering claims Rule 506(b), Section 3(c), Section 3(c)(1), 3C.5, Section 3(c)(7) and covers equity and pooled investment fund interests. DERMODY PROPERTIES INDUSTRIAL FEEDER FUND LLC reported $432,400,000 sold from 2 investors of a $432,400,000 total offering as of the Form D filed February 10, 2017. The filing states that the figure is combined across related vehicles, so it is not this entity's figure alone. The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. The filing checks both Section 3(c)(1), which caps the fund at 100 beneficial owners, and Section 3(c)(7), which requires every investor to be a qualified purchaser, generally an individual with at least $5 million in investments. A fund normally relies on one or the other. The filing reports no non-accredited investors. The filing lists the minimum investment as $0, meaning no minimum was stated. The Form D names PARK HILL GROUP LLC (CRD 135898), associated with None as the recipient of sales compensation soliciting in CA, CO, CT, DC, FL, IL, IN, MA, MD, MI, MN, MO, NC, NJ, NY, OH, OR, PA, TN, TX, UT, VA, WI, WY. Sales commissions are reported as $8,148,000 and finders' fees as $0. Form D allows these to be estimates. The issuer's address of record is 5500 Equity Avenue, Reno, NV 89502.