# EDGAR Filing Document

**Accession Number:** 0001954416
**File Stem:** 0000000000-23-001801
**Filing Date:** 2023-2
**Character Count:** 10284
**Document Hash:** 0c7c9d250079535d9eb764a203a24a03
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-001801.hdr.sgml**: 20240815

**ACCESSION NUMBER**: 0000000000-23-001801

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230223

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MCI Income Fund VII, LLC
- **CENTRAL INDEX KEY:** 0001954416
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE [6500]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **IRS NUMBER:** 920274196
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 024-12073

**BUSINESS ADDRESS:**
- **STREET 1:** 2101 CEDAR SPRINGS ROAD
- **STREET 2:** SUITE 700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 8884183730

**MAIL ADDRESS:**
- **STREET 1:** 2101 CEDAR SPRINGS ROAD
- **STREET 2:** SUITE 700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001683168-22-007896

## Text-Extract

```

United States securities and exchange commission logo

                              February 23, 2023

       Armin Afzalipour
       Co-President
       MCI Income Fund VII, LLC
       2101 Cedar Springs, Suite 700
       Dallas, Texas 75201

                                                        Re: MCI Income Fund
VII, LLC
                                                            Amendment No. 1 to
                                                            Offering Statement
on Form 1-A
                                                            Filed January 5,
2023
                                                            File No. 024-12073

       Dear Armin Afzalipour:

             We have reviewed your amended offering statement and have the
following
       comments. In some of our comments, we may ask you to provide us with
information so we
       may better understand your disclosure.

              Please respond to this letter by amending your offering statement
and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your offering statement and the
information you
       provide in response to these comments, we may have additional comments.
Unless we note
       otherwise, our references to prior comments are to comments in our
December 15, 2022 letter.

       Amendment 1 to Offering Statement on Form 1-A filed January 5, 2023

       Organizational Chart, page 44

   1.                                                   Please revise your
organizational chart and related disclosure to detail all relevant
                                                        entities. Please
include appropriate information to allow a reader to fully understand the
                                                        legal and economic
ownership of each entity.
       Track Record of Our Sponsor, page 64

   2.                                                   It appears that the
sponsor's track record of its prior programs would present meaningful
                                                        material information to
investors. With a view toward disclosure, please tell us the
                                                        sponsor's track record,
including historical prior programs, operations of prior programs,
 Armin Afzalipour
MCI Income Fund VII, LLC
February 23, 2023
Page 2
      acquisition data and commissions, management compensation and other
compensation
      data, any material adverse business developments experienced by any prior
programs, or
      provide us with a detailed analysis as to why this information is not
material to investors.

      In addition, we note your disclosure that the primary investment
objectives of your private
      real estate lending programs include lending capital to Megatel for the
acquisition of real
      property for development and construction activities. Please provide us
with a description
      of the contractual arrangements that exist between your prior programs
and Megatel
      including interest charged, repayment terms, and guarantees.
Financial Statements
MCI Development I, LLC
Notes to Financial Statements, page F-15

3.    We note your response to our prior comment 7 and your related disclosure.
In your
      disclosure you state that construction, development, marketing and sales
services
      associated with projects undertaken by MCI Development 1, LLC will be
provided by
      contracted vendors, which may be affiliates of Megatel Capital
Investment, LLC or third
      parties. Please tell us, and revise your disclosure to discuss, your
expectations regarding
      the use of affiliates of Megatel Capital Investment, LLC to perform these
services. In that
      regard, it appears that MCI Income Fund VII, LLC, MCI Development 1, LLC
and
      Megatel Capital Investment, LLC and its affiliates are all under common
control and that
      affiliates of Megatel Capital Investment, LLC provide all the services
MCI Development
      1, LLC may require. Please address these facts in your discussion of
whether you expect
      MCI Development 1, LLC to contract with affiliates of Megatel Capital
Investment, LLC
      or unrelated third parties for construction, development, marketing and
sales services.
       You may contact Eric McPhee at 202-551-3693 or Robert Telewicz at
202-551-3438 if
you have questions regarding comments on the financial statements and related
matters. Please
contact Maryse Mills-Apenteng at 202-551-3457 or Jeffrey Gabor at 202-551-2544
with any
other questions.

                                                            Sincerely,
FirstName LastNameArmin Afzalipour
                                                            Division of
Corporation Finance
Comapany NameMCI Income Fund VII, LLC
                                                            Office of Real
Estate & Construction
February 23, 2023 Page 2
cc:       Robert R. Kaplan, Jr.
FirstName LastName

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

CORPORATION FINANCE

# UNITED STATES  
SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549

February 23, 2023

Armin Afzalipour  
Co-President  
MCI Income Fund VII, LLC  
2101 Cedar Springs, Suite 700  
Dallas, Texas 75201

# **Re: MCI Income Fund VII, LLC  
Amendment No. 1 to  
Offering Statement on Form 1-A  
Filed January 5, 2023  
File No. 024-12073**

Dear Armin Afzalipour:

We have reviewed your amended offering statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this letter by amending your offering statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response.

After reviewing any amendment to your offering statement and the information you provide in response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our December 15, 2022 letter.

Amendment 1 to Offering Statement on Form 1-A filed January 5, 2023

Organizational Chart, page 44

1. Please revise your organizational chart and related disclosure to detail all relevant entities. Please include appropriate information to allow a reader to fully understand the legal and economic ownership of each entity.

Track Record of Our Sponsor, page 64

2. It appears that the sponsor's track record of its prior programs would present meaningful material information to investors. With a view toward disclosure, please tell us the sponsor's track record, including historical prior programs, operations of prior programs,

Armin Afzalipour  
MCI Income Fund VII, LLC  
February 23, 2023  
Page 2

acquisition data and commissions, management compensation and other compensation data, any material adverse business developments experienced by any prior programs, or provide us with a detailed analysis as to why this information is not material to investors.

In addition, we note your disclosure that the primary investment objectives of your private real estate lending programs include lending capital to Megatel for the acquisition of real property for development and construction activities. Please provide us with a description of the contractual arrangements that exist between your prior programs and Megatel including interest charged, repayment terms, and guarantees.

# Financial Statements

# MCI Development I, LLC

# Notes to Financial Statements, page F-15

3. We note your response to our prior comment 7 and your related disclosure. In your disclosure you state that construction, development, marketing and sales services associated with projects undertaken by MCI Development I, LLC will be provided by contracted vendors, which may be affiliates of Megatel Capital Investment, LLC or third parties. Please tell us, and revise your disclosure to discuss, your expectations regarding the use of affiliates of Megatel Capital Investment, LLC to perform these services. In that regard, it appears that MCI Income Fund VII, LLC, MCI Development I, LLC and Megatel Capital Investment, LLC and its affiliates are all under common control and that affiliates of Megatel Capital Investment, LLC provide all the services MCI Development I, LLC may require. Please address these facts in your discussion of whether you expect MCI Development I, LLC to contract with affiliates of Megatel Capital Investment, LLC or unrelated third parties for construction, development, marketing and sales services.

You may contact Eric McPhee at 202-551-3693 or Robert Telewicz at 202-551-3438 if you have questions regarding comments on the financial statements and related matters. Please contact Maryse Mills-Apenteng at 202-551-3457 or Jeffrey Gabor at 202-551-2544 with any other questions.

Sincerely,

Office of Real Estate & Construction

cc: Robert R. Kaplan, Jr.