Form D · Other Investment Fund

Ullico Value-Add Real Estate Fund I, L.P.

Silver Spring, MD · CIK 0001985025

Offering snapshot reported Dec 29, 2025 · SEC filing

Reported sold: $174M
Investors reported: 17
Minimum accepted: $1M
First sale: Aug 1, 2024

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$80,000,000 → $174,000,000
Reported investors8 → 17

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Dec 29, 2025	Amendment	$174,000,000	$94,000,000vs Dec 27, 2024	17	SEC filing
Dec 27, 2024	Amendment	$80,000,000	$0vs Aug 7, 2024	8	SEC filing
Aug 7, 2024	Amendment	$80,000,000	No comparison	8	SEC filing
Jul 21, 2023	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06c, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $722K (estimated)
Finders' fees: $0
Form D file number: 021-487530

Sales compensation recipients

Scroll to see all columns →

Recipient	CRD	Associated broker-dealer
Pistner, Michael	2932182	Ullico Investment Company, LLC · CRD 135195
Howe, Luke	5779141	Ullico Investment Company, LLC · CRD 135195
Norkus, Michael	5964441	Ullico Investment Company, LLC · CRD 135195
White, Patrick	4344341	Ullico Investment Company, LLC · CRD 135195

Source: Form D, filed Dec 29, 2025. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

ULLICO VALUE-ADD REAL ESTATE FUND I, L.P.

Investment adviser: ULLICO INVESTMENT ADVISORS, INC.

Gross asset value: $190M
Beneficial owners: 18
ADV minimum commitment: $1M

Reported in Form ADV on Aug 4, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator NAV CONSULTING, INC., DBA NAV FUND ADMINISTRATION GROUP OAKBROOK TERRACE, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP PHILADELPHIA, Pennsylvania, United States

Custodian BNY EVERETT, Massachusetts, United States Related to adviser: No

Marketer ULLICO INVESTMENT COMPANY, LLC BETHESDA, Maryland, United States Related to adviser: Yes

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

ERNST & YOUNG LLP
PCAOB 42

BNY
LEI HPFHU0OQ28E4N0NFVK49

ULLICO INVESTMENT COMPANY, LLC
CRD 135195 · SEC 8-66906

Filing source

Form ADV 2123613 · Aug 4, 2026 · Schedule D 7.B.(1), fund 805-4887931368

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
James Hugh Darcey	Executive
Peter Haley	Executive
Cathy Ann Humphrey	Director, Executive
Herbert Kolben	Director, Executive
Richard La Rocque	Executive
Joseph Richard Linehan	Director, Executive
Kenneth Dunlop Scott	Director
N/A Ullico Investment Advisors, Inc.	Director
Yinan Yu	Director, Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

8403 Colesville Rd
Silver Spring, MD, 20910