b'Belowisatypicalstructureforamulti-propertyspecifiedoffering owned by a syndicate with a single group of investors owning all of the properties: Blind Pool Fund The blind pool fund structure is exactly like the multi-property specified offering structure, except that properties to be acquired by the syndicate have not yet been identified. Instead of describing specified properties that thefundwillacquire,thefundwillhaveaninvestmentsummary describing its business plan, and what it plans to acquire. See Chapter 14 re blind pool funds. The Fund LLC shown below, will usually have the same structure as a syndicate, with both Class A and Class B members, and a separate asset manager or fund manager.171'