The Manager of the Fund will be Aries Capital Management, LLC, a Delaware limited liability company (“ACM”). ACM will also represent the Note Holders as the Note Holder Representative. The member of ACM will initially be Aries Capital Northwest, LLC, a Delaware limited liability company (“ACN” or the “Originator”). Aaron Gillingham is the sole member of ACN, and the manager of both entities.
Aaron Gillingham – Fund Manager
Aaron was introduced to the private money lending industry by his father at an early age. By age 11, Aaron was accompanying his father on business trips. On these trips Aaron observed and later participated in evaluation of collateral, assessments of borrower financial strength, review of promissory notes and deeds of trust and negotiations of terms with the borrowers. By age 18, Aaron felt confident enough in his knowledge and skills that he successfully negotiated and closed his first private money loan in the amount of $7,500.
With the investment payoff proceeds from this first loan coupled with additional savings, he was able to negotiate and invest in a second larger loan that paid him two hundred dollars per month in income. The two hundred dollars of monthly income from Aaron’s investment, along with part-time work allowed him to be self-sufficient while attending Washington State University. At Washington State University Aaron majored in Accounting and minored in Economics, a foundation that would serve him well throughout his entrepreneurial endeavors.
After graduating from Washington State University in 1989, Aaron began a career as a financial analyst. He quickly advanced to an accounting manager for MCN, a 20 million dollar medical consulting firm. At MCN, Aaron was tasked with reviewing project budgets, analyzing budget variances and estimating and analyzing cash flow projections. During this time, he continued to invest in private money investments and rehabbed his first property. He also became well-versed in the area of cap rates, appraisals and reviewing rehab budgets. Over the next several years, Aaron continued to hone his skills as an accounting manager. Aaron’s inquisitive spirit continued to drive his quest for knowledge, new discovery and individual growth ultimately culminating in his decision to pursue a Masters of Business Administration degree.
In 1998, Aaron graduated with his Masters of Business Administration from University of Oregon and secured a position at one of Oregon’s most influential hospital and medical research institutions. After many years of working for a large corporate hospital system, Aaron resigned in order to pursue his dream of owning and operating his own accounting and financial consulting firm. Owning and operating his own business granted Aaron the exposure and flexibly to pursue private money investment opportunities by leveraging his existing client base. Aaron’s business grew and over time he sharpened his negotiation skills, increased his contacts in the private money investing industry and cultivated a network of attorneys and escrow agents in Washington, Oregon and Idaho. This extensive network helped him to mitigate the risk to himself and his clients when making investments. Soon after, Aaron began investing in new construction projects. Owning and managing several rentals of his own Aaron made this an easy transition in the expansion of his private money business.
Aaron possesses extensive knowledge of the commercial and residential real estate markets in the Pacific Northwest and its trends, having managed rentals, purchased property, rehabbed property and assisted in the sale of these investments for himself and his clients. As a lender on multiple ground-up construction projects Aaron has reviewed and approved borrower draws by inspecting projects to determine whether appropriate construction has been completed to justify the borrower’s draw requests that were negotiated into the promissory note.
In 2014, Aaron found himself with more investments opportunities than capacity to fund them, and as a result he began to explore options that would allow him to continue to grow his private money lending business. Aaron was introduced to the concept of a pooled mortgage fund and immediately saw an opportunity that would not only grow his business, but also put to use the valuable skills he had developed over his career and be able to work with more investors.
Aaron understands intimately what it is like to be an investor and recognizes the importance of preserving capital while at the same time growing fund assets. The overriding concept Aaron applied early on in his investing career which he still uses today is the concept of capital preservation. This methodology served him well during the market upheavals from 2008-2011. Aaron’s sound underwriting practices have insulated his portfolio and the portfolios of the clients for whom he had brokered investments from the market upheaval.
Thirty years of experience negotiating and closing private equity loans, owning and operating a successful consulting and accounting business along with extensive experience with small business owners, financial modeling and analysis and real estate valuations has coalesced into the creation of Aries Lending Fund I, LLC.
Aaron is the Chief Executive and Investment Officer of the Fund. Aaron is 50 years old and in excellent health.