Richmond · Founded 2014
Increasing the economic power of veterans and industry-leading professionals.
We are a group of veterans who own and operate a series of private real estate funds focused on providing stable fixed income to our investors. W. John Oliver, Mike Brumagin, and Peter Stark founded the Richmond firm in 2014. The assets are single-tenant, net-leased retail, weighted to discount and necessity retail in secondary and tertiary markets.
The public record
These figures are the about page and the FAQ, fetched from the live site. The two FAQ answers do not match. Nothing here is an assets-under-management claim, and nothing is a forecast.
- Investors
- 550+
- Track record
- 11 years
- Reinvestment
- ~70%
- Quarterly yield
- Never missed
| Where it appears | What that source states |
|---|---|
| About | Over 550 investors, an 11-year track record of consistent yield, and a nearly 70% reinvestment rate. Single-tenant commercial property, with an emphasis on discount retailers such as Dollar General in secondary and tertiary markets. The about page cites 19,000+ Dollar General stores in smaller markets. That is an industry count, not this firm’s store count. |
| FAQ, first track-record answer | Over 200 properties, 30+ consecutive quarters, $105.4 million in capital deposits, nearly 70% reinvestment, and a quarterly yield the firm says it has never missed or altered. Capital deposits are not assets under management. |
| FAQ, second track-record answer | Over 170 properties, 36+ consecutive quarters, and $124.1 million in capital deposits, with the same never-missed yield line and the same reinvestment rate. Both answers are on the live FAQ. This page does not average them. |
| Yield Fund 2020 | One module says the fund owns 72 properties in 12 states. A later module on the same funds page says 77 properties across 17 states. Both are $25 million, fully subscribed in 2021. This page does not choose a count. |
The about page’s own line: a group of veterans who own and operate a series of private real estate funds focused on providing stable fixed income to investors. Nearly 70 percent voluntary reinvestment is repeated on the about page and in both FAQ answers.
Hold the lease.
Four objectives, from the funds page. The about page dates the firm to 2014 and describes an 11-year record. The FAQ says the firm has never missed, nor altered, a quarterly yield payment.
- Acquire and hold net-leased commercial property for a stable dividend.
- Stay in segments where lease income exceeds debt service and the tenant has a long horizon.
- Let scheduled rent increases and capital events fund preferred returns.
- After preferred return and return of original principal, allocate a portion of surplus yield to veteran charities.
Older stores. Smaller markets.
The firm prefers Dollar General and other defensive discount retail, often the essential-goods store in a rural town. It says it would rather own an older location with renewals than a new store the market prices as if it were already proven. The about page cites more than 19,000 Dollar General stores in smaller markets. That is an industry count, not this firm’s store count. The firm says it does not operate the stores.
Funds, reconciled
The funds page stacks old modules on top of newer cards. Where they disagree, the later card wins on status. Offering sizes stay labeled as targets. Yields are what the firm states, not a forecast. The private placement memorandum is the governing document.
| Vehicle | Status | What the later card supports |
|---|---|---|
| BMG Value Fund | Open, est. 2024 | Offering target $200 million, subject to increase to $400 million. The firm states an 8% annual yield: 6% paid quarterly plus 2% preferred paid annually, and 80% of capital gains at wrap-up. Minimum $200,000. Manager: Battle Monument Group LLC. Leverage the firm says it will keep under 50%. Term anticipated at seven years. The dollar size is a target, not capital raised. |
| BMG 2024 DST | Open, est. 2024 | Four single-tenant properties. Printed size $5,435,872. The firm states a 6.0% annual yield, paid quarterly, over five to seven years. Minimum $250,000. No debt attribution. Manager: MARF Management LLC. The module’s track-record line says 175 assets with a $180 million aggregate cost basis. |
| BMG Yield Fund II | Closed July 2024 | Established 2021. The later card says the fund owns 64 properties across 19 states. An earlier module on the same page still says it is accepting investors, and another block prints a $50 million offering target and a 6% quarterly yield plus 60% of capital-transaction cash. The FAQ names Value Fund and the 2024 DST as the two open vehicles, not Yield Fund II. The $50 million line is a target, not capital raised. |
| BMG DST 2022 | Fully subscribed October 2023 | The later card says 8 properties across 7 states. An earlier module still says the trust is accepting investors, prints a size of $11,978,701 with $6,478,701 of equity available, and a year-one yield of 5.6% rising to 6.0%. The FAQ says DST yield cannot be reinvested. |
| Guidon Fund | Fully subscribed June 2023 | Established 2020. Seven properties across four states. No dollar size is published on the funds page. |
| BMG Yield Fund 2020 | Fully subscribed 2021 | A $25 million fund, established in the first quarter of 2020, fully subscribed in the first quarter of 2021, and fully capitalized in the second quarter of 2021. The page says both 72 properties in 12 states and 77 properties across 17 states. |
| MM Associates | Liquidated 2023 | A $5 million fund founded in 2018, fully subscribed in 2019, 22 properties across 8 states. The firm states an investor IRR of 9% over the life of the fund, with principal and targeted returns paid. The FAQ places the liquidation in the early third quarter of 2023. A later card says June 2023. |
| STRAC Fund | Liquidated late 2021 | Started in 2015, fully subscribed in 2018, 20 properties across 6 states. The FAQ calls it a $5 million fund and says it closed early because market conditions were favorable. The funds page states an investor IRR of 10% over the life of the fund. |
Leverage the firm says it targets: below 50 percent bank debt, not guaranteed by investors. No capital calls. Capital items such as roofs and parking lots come from reserves. The firm says its experience is that a reserve of 0.5 percent of revenue per location covers them. Investors use a Juniper Square portal. There is no redemption right.
Roster
Service records as the firm publishes them. No photographs until the firm supplies them.
W. John Oliver
Co-founder and managing partner
The about page calls him co-founder and managing partner. About twenty years as an owner and executive in investor-funded companies, including chief financial officer, vice president of sales, and president. 82nd Airborne in Operation Desert Storm. West Point. Ranger School. MBA in finance from Yale, where he interned at Goldman Sachs and assisted Professor Frank J. Fabozzi.
Mike Brumagin
Co-founder, general partner, fund manager
Co-owner of Integrity Restaurant Group. About twenty-five years as a principal owner of more than 100 restaurants and their real estate. 24th Infantry Division in Operation Desert Storm. Bronze Star. West Point. MBA from UC Irvine. One biography says top of his class. The duplicate says he received the Irvine Award as valedictorian.
Peter Stark
Partner and fund manager
More than twenty years in equity and debt markets. Previously a managing director at Raymond James Financial. West Point. MBA in finance, NYU Stern. 101st Airborne in Operation Desert Storm. The about page prints his biography twice: one says he served as Scoutmaster of Troop 53 in Tampa, and the other says he is the Scoutmaster.
Six published voices
Attributions as they appear on the homepage. These are the firm’s published words, not new interviews.
Thirty-five years in real estate, then five years with the firm. He names John, Mike, and Peter, West Point friends, and praises the reliability of the income, the reporting, and the distributions.
David L. Blain, CFA, chief executive of Blue Sky Wealth Advisors
Invested starting in 2021. Cites the niche, the operations, the investor communications, and the tax reporting.
Casey Gillikin, U.S. Coast Guard Academy, class of 2008
From account setup through the distributions, she credits Peter and his team and recommends the vehicle to friends and family.
Evie Chitty, U.S. Military Academy, class of 1994
Came to the firm because it was founded by academy graduates.
Abel Jarrell, U.S. Military Academy, class of 1993
Recommends the partners for competence, plain communication, and responsiveness.
Steve Harrison, U.S. Air Force Academy, class of 1988
Invested for diversification and stayed because he trusts the general partners.
Toby Birdsell, U.S. Military Academy, class of 2002
Questions the firm already answers
Shockoe Slip
9 S. 12th Street, 4th FloorRichmond, Virginia 23219
804-644-4924
info@battlemonument.com
Accredited investors. The public address, telephone, and inbox are the ones on the live site. Individual partner addresses are not listed.