Investment Vehicles
← All revisions
docs(corporate): audit+complete Index Topics for company/investments/financial-model/risks/disclosure/reference — fix index_group gaps, build out thin group intros
@@ -29,7 +29,11 @@ jurisdiction, and the exemptions under which units are distributed. ## The direct-hold structure The direct-hold legal structure and how it compares with other vehicle types. Each Direct-Hold Solution issues equity units in one named vehicle, not a share in a pooled fund holding many properties. This distinction determines what a unit holder actually owns, and what happens to that ownership if one property or one vehicle runs into trouble. The articles below cover the legal mechanics of that isolation and the units themselves. They also compare the structure with joint ventures, private equity funds, and traditional REITs. <!-- AUTO-GENERATED MEMBERSHIP: DO NOT EDIT BELOW — regenerate from index_group: the-direct-hold-structure --> - [[direct-hold-framework]] — A legal structure that issues equity units in a single named direct-hold vehicle, not a share in a commingled pool, eliminating cross-asset contagion. @@ -41,7 +45,12 @@ The direct-hold legal structure and how it compares with other vehicle types. ## Legal form and jurisdiction The legal form used in each of the four jurisdictions. Each Direct-Hold Solution takes the legal form its home jurisdiction's securities law requires. That is a limited partnership in Canada and the planned United States vehicle, a SOCIMI in Spain, and a FIBRA trust in Mexico. The form is not one instrument relabeled four times — each carries its own governance body, tax treatment, and investor protections. The articles below cover the general limited-partnership form, the four-jurisdiction framework, and each vehicle's specific structure in turn. <!-- AUTO-GENERATED MEMBERSHIP: DO NOT EDIT BELOW — regenerate from index_group: legal-form-and-jurisdiction --> - [[limited-partnership-structure]] — How the limited partnership legal form implements the direct-hold investment structure: the GP-LP relationship, limited liability, unitholders as limited partners, and the partnership agreement as the governing instrument. @@ -53,7 +62,11 @@ The legal form used in each of the four jurisdictions. ## Eligibility and distribution channels Who may subscribe, and through which channel. Units in each Direct-Hold Solution are distributed under prospectus exemptions, not a public offering — most commonly the accredited investor exemption available in each jurisdiction. Who qualifies, and what that qualification requires the investor to certify, differs by jurisdiction and by exemption. The two articles below cover the exemptions relied upon and the accredited investor test in detail. <!-- AUTO-GENERATED MEMBERSHIP: DO NOT EDIT BELOW — regenerate from index_group: eligibility-and-distribution-channels --> - [[exemptions]] — Prospectus exemptions relied upon in each jurisdiction's offering: the accredited investor exemption and the parallel prospectus channel.