Original Target Was $15 Million
    Originally targeted to raise only $15 million, SC IV was over-subscribed in December and was closed at just under $17 million.     

"We initially limited SC IV to that amount because some prior investments in the Strategic Capital program were scheduled for repayment this coming summer, which would have freed up capital for reinvestment," explains Ned H. Cohen, Executive Vice President of Wien & Malkin Securities. "But it now appears that those investments will be extended. Therefore, by accepting an additional $10 million of subscriptions for SC IV, we have the capital available to take advantage of new opportunities and to ensure diversity of investments in the fund."     

The original equity raised by SC IV was substantially committed by the end of February, with a total of $13 million already having been invested in two preferred-equity transactions, including the recently closed investment in Miracle Place Market in Florida.     

In the follow-on offering, initial investors in SC IV who wished to increase the size of their investment were given priority, but the extension was also open to additional accredited investors. To qualify, investors must have been registered with Wien & Malkin as accredited prior to this offering.     

The Malkin family increased the size of its investment in SC IV.     

The Strategic Capital program provides relatively short-term financing for real estate entrepreneurs who have special funding needs. The program has consistently provided Wien & Malkin investors with attractive current yields since it was introduced in 2000.