(Note: This is NOT an IPO. Modiv says in the prospectus that this “will be our first listed public offering of our Class C Common Stock.” The company says it is offering 40,000 shares. The prospectus states: “Prior to this offering, there has been no public market for the Class C Common Stock. The shares of Class C Common Stock have been approved for listing on the NYSE under the symbol “MDV.” The public offering price was negotiated among us and the representative of the underwriter.”)

Modiv Inc. is an internally managed Maryland corporation that elected to qualify as a real estate investment trust (“REIT”) for federal income tax purposes beginning with the year ended Dec. 31, 2016, that acquires, owns and actively manages single-tenant net-lease retail, office and industrial properties throughout the United States, with a focus on strategically important and mission critical properties net leased to primarily investment-grade tenants. Modiv is a crowdsourced real estate investment platform formerly known as Rich Uncles.

Modiv seeks to provide investors access to MOnthly DIVidends and MOre DIVersification through a durable portfolio of real estate and real estate-related investments designed to generate both current income and long-term growth. Additionally, Modiv operates with an investor-first focus and strives towards a “best-in-class” corporate governance structure through a board of directors and management team with decades of institutional real estate industry experience.

 As of Dec. 31, 2021, we owned 38 properties, all of which are 100% owned except one tenant-in-common real estate investment in which we own approximately 72.7% (the “TIC Interest”), with approximately 2.4 million square feet of aggregate leasable space 100% leased to 31 different commercial tenants doing business in 14 separate industries in 14 states. 

(Modiv, Inc. priced its REIT IPO on Feb. 10, 2022, in line with the terms in its prospectus: 40,000 shares of Class C stock at $25.00 each to raise $1 million. The stock started trading Friday, Feb. 11, 2022, under the proposed stock symbol “MDV”.)