Compare Sponsor Grades and NR across sponsors, with program counts and the record behind each. Available with a free account.
NR means the record is too thin for a letter under its published method. NR is not a failing grade.
Read the Grade methodology · Data updated Oct 16, 2026| Grade | Reason | Sponsor | Programs on record | Sold, result reported by the sponsor | Lost or impaired investor capital | Completed sales · revision 2.1 | Counted Programs | Regulatory record |
|---|---|---|---|---|---|---|---|---|
NR | 1 completed sale; 0 losses or impairments; 1 counted Program. Fewer than three counted Programs. Grade method · 2.1 | 1031 CF Properties | 9 | 0 | 0 | 1 | 1 | None on record |
| — | A card needs three programs Grade method | ACG Financial | 1 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | AEI Capital | 28 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Apollo | 4 | 0 | 0 | 0 | 0 | None on record |
NR | 2 completed sales; 0 losses or impairments; 2 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | ARCTRUST | 9 | 2 | 0 | 2 | 2 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Ares (ADREX) | 23 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | Arrimus Capital Advisors | 2 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | BDP Holdings | 3 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Behringer Net Lease Advisors | 6 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Black Creek Exchange | 17 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Blackstone (BXREX) | 3 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Blue Door AM | 3 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Blue Owl | 6 | 0 | 0 | 0 | 0 | None on record |
A | 16 completed sales; 0 losses or impairments; 16 counted Programs. Grade method · 2.1 | Bluerock Value Exchange | 43 | 15 | 0 | 16 | 16 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Bonaventure | 4 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | Bourne Financial Group, LLC | 2 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Bridgeview Student Housing | 3 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Brookfield | 4 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | BT Ames Student Housing Depositor | 1 | — | — | — | — | None on record |
NR | 1 completed sale; 0 losses or impairments; 1 counted Program. Fewer than three counted Programs. Grade method · 2.1 | CAI Investments | 10 | 0 | 0 | 1 | 1 | None on record |
B | 9 completed sales; 0 losses or impairments; 9 counted Programs. Grade method · 2.1 | Cantor Fitzgerald | 53 | 9 | 0 | 9 | 9 | None on record |
D | 36 completed sales; 3 losses or impairments; 39 counted Programs. 2 losses or impairments within three years. Grade method · 2.1 | Capital Square | 135 | 42 | 3 | 36 | 39 | None on record |
NR | 2 completed sales; 0 losses or impairments; 2 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Carter Exchange | 26 | 3 | 0 | 2 | 2 | None on record |
| — | A card needs three programs Grade method | Cottonwood Communities | 2 | — | — | — | — | None on record |
B | 7 completed sales; 0 losses or impairments; 7 counted Programs. Grade method · 2.1 | Cove Capital Investments | 101 | 7 | 0 | 7 | 7 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Croatan Investments | 3 | 0 | 0 | 0 | 0 | None on record |
NR | 1 completed sale; 0 losses or impairments; 1 counted Program. Fewer than three counted Programs. Grade method · 2.1 | Cunat | 10 | 1 | 0 | 1 | 1 | None on record |
| — | A card needs three programs Grade method | Cypress Exchange Properties | 1 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Dahn America360 | 3 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | DPM | 4 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | Driftwood Capital | 1 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | ERP 1031 | 4 | 0 | 0 | 0 | 0 | None on record |
A | 27 completed sales; 0 losses or impairments; 27 counted Programs. Grade method · 2.1 | ExchangeRight | 121 | 27 | 0 | 27 | 27 | None on record |
| — | A card needs three programs Grade method | FG Communities | 1 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Flatirons Asset Management | 5 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | Fortress Real Estate Exchange | 1 | — | — | — | — | None on record |
| — | A card needs three programs Grade method | Forum Investment Group | 1 | — | — | — | — | None on record |
C | 4 completed sales; 1 loss or impairment; 5 counted Programs. 1 loss or impairment within three years. Grade method · 2.1 | Four Springs (FSX) | 34 | 5 | 1 | 4 | 5 | None on record |
B | 3 completed sales; 0 losses or impairments; 3 counted Programs. Grade method · 2.1 | Go Store It Partners | 24 | 0 | 0 | 3 | 3 | None on record |
NR | 2 completed sales; 0 losses or impairments; 2 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Griffin Capital | 10 | 2 | 0 | 2 | 2 | None on record |
| — | A card needs three programs Grade method | Groma | 2 | — | — | — | — | None on record |
B | 6 completed sales; 0 losses or impairments; 6 counted Programs. Grade method · 2.1 | Hamilton Point Investments | 11 | 0 | 0 | 6 | 6 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Hamilton Zanze | 20 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | Hasta DST Ventures | 1 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Hines | 10 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | HPA Exchange | 2 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | IDEAL Capital Group Holdings | 8 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | InCommercial | 7 | 0 | 0 | 0 | 0 | None on record |
B | 55 completed sales; 3 losses or impairments; 58 counted Programs. Grade method · 2.1 | Inland Private Capital | 235 | 66 | 3 | 55 | 58 | None on record |
F | 0 completed sales; 28 losses or impairments; 28 counted Programs. 28 losses or impairments within three years. Grade method · 2.1 | Inspired Healthcare Capital | 33 | 0 | 28 | 0 | 28 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Invesco Real Estate Exchange | 5 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | Invest Direct Management | 1 | — | — | — | — | None on record |
| — | A card needs three programs Grade method | JFC (JF Capital Senior Living) | 2 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | JLL Exchange (JLLX) | 35 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | JWCM Exchange I | 3 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Keystone 1031 | 4 | 0 | 0 | 0 | 0 | None on record |
B | 6 completed sales; 0 losses or impairments; 6 counted Programs. Grade method · 2.1 | Kingsbarn Realty Capital | 87 | 0 | 0 | 6 | 6 | None on record |
| — | A card needs three programs Grade method | Landmark Dividend | 1 | — | — | — | — | None on record |
B | 3 completed sales; 0 losses or impairments; 3 counted Programs. Grade method · 2.1 | Livingston Street Capital | 19 | 0 | 0 | 3 | 3 | None on record |
NR | 1 completed sale; 0 losses or impairments; 1 counted Program. Fewer than three counted Programs. Grade method · 2.1 | Madison Capital Group | 20 | 0 | 0 | 1 | 1 | None on record |
F | 0 completed sales; 3 losses or impairments; 3 counted Programs. 3 losses or impairments within three years. Regulatory record: Arizona Attorney General racketeering complaint (2024) and FINRA arbitration claims (2025) over senior-care programs. Grade method · 2.1 | Madison Realty Companies | 4 | 0 | 3 | 0 | 3 | On record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Megatel (MCI Exchange) | 6 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | MHC Capital | 3 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | Mirae Asset Securities and Investments | 2 | — | — | — | — | None on record |
B | 4 completed sales; 0 losses or impairments; 4 counted Programs. Grade method · 2.1 | Moody National | 14 | 0 | 0 | 4 | 4 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | NAS Investment Solutions | 11 | 0 | 0 | 0 | 0 | None on record |
F | 5 completed sales; 9 losses or impairments; 14 counted Programs. 7 losses or impairments within three years. Grade method · 2.1 | Nelson Brothers | 29 | 0 | 9 | 5 | 14 | None on record |
NR | 1 completed sale; 0 losses or impairments; 1 counted Program. Fewer than three counted Programs. Grade method · 2.1 | Net Lease Capital Advisors | 30 | 0 | 0 | 1 | 1 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | NewStar Exchange | 5 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | NexPoint | 35 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | NuCare (LPT REIT) | 3 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | Nuveen | 2 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Olympus Property | 4 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Origin Investments | 4 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Osprey Storage | 3 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | Pacific Oak Capital Advisors | 2 | — | — | — | — | None on record |
A | 31 completed sales; 0 losses or impairments; 31 counted Programs. Grade method · 2.1 | Passco Companies | 104 | 34 | 0 | 31 | 31 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Peachtree Group | 15 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | PrimeDST | 2 | — | — | — | — | None on record |
| — | A card needs three programs Grade method | Principle Equity Properties | 2 | — | — | — | — | None on record |
NR | 1 completed sale; 0 losses or impairments; 1 counted Program. Fewer than three counted Programs. Grade method · 2.1 | Rance King Properties | 17 | 0 | 0 | 1 | 1 | None on record |
| — | A card needs three programs Grade method | Reliant Real Estate | 1 | — | — | — | — | None on record |
B | 3 completed sales; 0 losses or impairments; 3 counted Programs. Grade method · 2.1 | REVA Properties | 25 | 0 | 0 | 3 | 3 | None on record |
NR | 2 completed sales; 0 losses or impairments; 2 counted Programs. Fewer than three counted Programs. Regulatory record: Affiliated broker-dealer expelled by FINRA in 2020 and its CEO permanently barred. Grade method · 2.1 | Sandlapper Capital Investments | 4 | 0 | 0 | 2 | 2 | On record |
| — | A card needs three programs Grade method | Sealy & Company | 1 | — | — | — | — | None on record |
| — | A card needs three programs Grade method | Secure Properties | 2 | — | — | — | — | None on record |
| — | A card needs three programs Grade method | SLF 1031 | 1 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Southern Star Storage | 3 | 0 | 0 | 0 | 0 | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | SR Realty Trust | 4 | 0 | 0 | 0 | 0 | None on record |
B | 4 completed sales; 0 losses or impairments; 4 counted Programs. Grade method · 2.1 | Starboard Realty Advisors | 18 | 2 | 0 | 4 | 4 | None on record |
| — | A card needs three programs Grade method | Starwood | 1 | — | — | — | — | None on record |
NR | 1 completed sale; 0 losses or impairments; 1 counted Program. Fewer than three counted Programs. Grade method · 2.1 | Syndicated Equities | 25 | 0 | 0 | 1 | 1 | None on record |
C | 2 completed sales; 1 loss or impairment; 3 counted Programs. Fewer than three completed sales. Regulatory record: FINRA fraud allegations against the founder; sponsor filed Chapter 11 in 2019. Grade method · 2.1 | Thompson National Properties | 13 | 0 | 1 | 2 | 3 | On record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Trilogy Real Estate Group | 4 | 0 | 0 | 0 | 0 | None on record |
NR | 2 completed sales; 0 losses or impairments; 2 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Valeo Groupe Americas | 5 | 0 | 0 | 2 | 2 | None on record |
| — | A card needs three programs Grade method | Velocis | 2 | — | — | — | — | None on record |
NR | 0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. Grade method · 2.1 | Walton Global | 10 | 0 | 0 | 0 | 0 | None on record |
| — | A card needs three programs Grade method | WH DST Management | 1 | — | — | — | — | None on record |
A letter publishes after three checks for that sponsor: every match between its published performance table and its SEC filings is audited, its own publications are attached to each finished program, and court and county records are searched for every program it has run. Until then the report shows the counts with "Grade pending verification".
Not rated: fewer than three counted outcomes and fewer than three documented sales. Too little finished history to grade. Any loss found is still printed on the sponsor's record card. NR is not a failing grade.
Losses come from court, county and docket records or the sponsor's own published figures. Reported results come only from the sponsor's own brochure, offering documents or press release. Every count on a record card links to the programs it was counted from.