Top1031 data report

Top1031 Sponsor Grades

Compare Sponsor Grades and NR across sponsors, with program counts and the record behind each. Available with a free account.

Talk to a 1031 specialistData updated Sep 5, 2026

Grade	Reason	Sponsor	Programs on record	Sold, result reported by the sponsor	Lost or impaired investor capital	Counted outcomes	Regulatory record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).	1031 CF Properties	8	0	0	0	None on record
—	A card needs three programs	ACG Financial	1	—	—	—	None on record
NROlder programs, no outcome found	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	AEI Capital	28	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Apollo	4	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (2 published results, 2 documented sales).	ARCTRUST	8	2	0	2	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Ares (ADREX)	22	0	0	0	None on record
—	A card needs three programs	Arrimus Capital Advisors	2	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	BDP Holdings	3	0	0	0	None on record
NROlder programs, no outcome found	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Behringer Net Lease Advisors	6	0	0	0	None on record
NROlder programs, no outcome found	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales). Sponsor status: acquired.	Black Creek Exchange	17	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Blackstone (BXREX)	3	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Blue Door AM	3	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Blue Owl	6	0	0	0	None on record
A0 losses · 14 reported	No documented loss found in searched sources. 14 sales with a sponsor-published result.	Bluerock Value Exchange	43	14	0	14	None on record
—	A card needs three programs	Bonaventure	2	—	—	—	None on record
—	A card needs three programs	Bourne Financial Group, LLC	2	—	—	—	None on record
—	A card needs three programs	Bridgeview Student Housing	2	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Brookfield	4	0	0	0	None on record
—	A card needs three programs	BT Ames Student Housing Depositor	1	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).	CAI Investments	10	0	0	0	None on record
B0 losses · 9 reported	No documented loss found in searched sources. 9 sales with a sponsor-published result; A needs 10.	Cantor Fitzgerald	53	9	0	9	None on record
D3 losses · 41 reported	3 of 44 resolved programs lost or impaired capital, 2 in the last 3 years.	Capital Square	135	41	3	44	None on record
B0 losses · 3 reported	No documented loss found in searched sources. 3 sales with a sponsor-published result; A needs 10.	Carter Exchange	26	3	0	3	None on record
—	A card needs three programs	Cottonwood Communities	1	—	—	—	None on record
B0 losses · 7 reported	No documented loss found in searched sources. 7 sales with a sponsor-published result; A needs 10.	Cove Capital Investments	99	7	0	7	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Croatan Investments	3	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (1 published results, 1 documented sales).	Cunat	9	1	0	1	None on record
—	A card needs three programs	Cypress Exchange Properties	1	—	—	—	None on record
NROlder programs, no outcome found	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Dahn America360	3	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	DPM	4	0	0	0	None on record
—	A card needs three programs	Driftwood Capital	1	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	ERP 1031	4	0	0	0	None on record
A0 losses · 27 reported	No documented loss found in searched sources. 27 sales with a sponsor-published result.	ExchangeRight	120	27	0	27	None on record
—	A card needs three programs	FG Communities	1	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Flatirons Asset Management	5	0	0	0	None on record
—	A card needs three programs	Fortress Real Estate Exchange	1	—	—	—	None on record
—	A card needs three programs	Forum Investment Group	1	—	—	—	None on record
B0 losses · 5 reported	No documented loss found in searched sources. 5 sales with a sponsor-published result; A needs 10.	Four Springs (FSX)	33	5	0	5	None on record
C0 losses · 0 reported	No documented loss found in searched sources. The sponsor published a result for 0 of 3 documented sales; a letter above C needs 3.	Go Store It Partners	22	0	0	0	None on record
C0 losses · 2 reported	No documented loss found in searched sources. The sponsor published a result for 2 of 4 documented sales; a letter above C needs 3.	Griffin Capital	10	2	0	2	None on record
—	A card needs three programs	Groma	2	—	—	—	None on record
C0 losses · 0 reported	No documented loss found in searched sources. The sponsor published a result for 0 of 7 documented sales; a letter above C needs 3.	Hamilton Point Investments	10	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 2 documented sales).	Hamilton Zanze	19	0	0	0	None on record
—	A card needs three programs	Hasta DST Ventures	1	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Hines	10	0	0	0	None on record
—	A card needs three programs	HPA Exchange	2	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	IDEAL Capital Group Holdings	8	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	InCommercial	7	0	0	0	None on record
A3 losses · 69 reported	3 of 72 resolved programs lost capital, all more than 5 years ago. 69 sales with a sponsor-published result.	Inland Private Capital	235	69	3	72	None on record
F24 losses · 0 reported	24 of 24 resolved programs lost or impaired investor capital.	Inspired Healthcare Capital	33	0	24	24	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Invesco Real Estate Exchange	5	0	0	0	None on record
—	A card needs three programs	Invest Direct Management	1	—	—	—	None on record
—	A card needs three programs	JFC (JF Capital Senior Living)	2	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).	JLL Exchange (JLLX)	35	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	JWCM Exchange I	3	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Keystone 1031	4	0	0	0	None on record
C0 losses · 0 reported	No documented loss found in searched sources. The sponsor published a result for 0 of 9 documented sales; a letter above C needs 3.	Kingsbarn Realty Capital	85	0	0	0	None on record
—	A card needs three programs	Landmark Dividend	1	—	—	—	None on record
C0 losses · 0 reported	No documented loss found in searched sources. The sponsor published a result for 0 of 3 documented sales; a letter above C needs 3.	Livingston Street Capital	19	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Madison Capital Group	15	0	0	0	None on record
D2 losses · 0 reported	2 of 2 resolved programs lost or impaired capital, 2 in the last 3 years. Regulatory record: Arizona Attorney General racketeering complaint (2024) and FINRA arbitration claims (2025) over senior-care programs (pending; scope: programs).	Madison Realty Companies	4	0	2	2	On record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Megatel (MCI Exchange)	6	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	MHC Capital	3	0	0	0	None on record
—	A card needs three programs	Mirae Asset Securities and Investments	2	—	—	—	None on record
C0 losses · 0 reported	No documented loss found in searched sources. The sponsor published a result for 0 of 4 documented sales; a letter above C needs 3.	Moody National	13	0	0	0	None on record
NROlder programs, no outcome found	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	NAS Investment Solutions	11	0	0	0	None on record
F7 losses · 0 reported	7 of 7 resolved programs lost or impaired investor capital. 1 further event reported without a primary record, not counted. Sponsor status: renamed.	Nelson Brothers	20	0	7	7	None on record
NROlder programs, no outcome found	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 2 documented sales).	Net Lease Capital Advisors	24	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	NewStar Exchange	5	0	0	0	None on record
NROlder programs, no outcome found	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).	NexPoint	34	0	0	0	None on record
—	A card needs three programs	NuCare (LPT REIT)	2	—	—	—	None on record
—	A card needs three programs	Nuveen	2	—	—	—	None on record
NROlder programs confirmed operating	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Olympus Property	3	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Origin Investments	4	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Osprey Storage	3	0	0	0	None on record
—	A card needs three programs	Pacific Oak Capital Advisors	2	—	—	—	None on record
A0 losses · 34 reported	No documented loss found in searched sources. 34 sales with a sponsor-published result.	Passco Companies	104	34	0	34	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Peachtree Group	15	0	0	0	None on record
—	A card needs three programs	PrimeDST	2	—	—	—	None on record
—	A card needs three programs	Principle Equity Properties	2	—	—	—	None on record
NROlder programs confirmed operating	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).	Rance King Properties	17	0	0	0	None on record
—	A card needs three programs	Reliant Real Estate	1	—	—	—	None on record
C0 losses · 0 reported	No documented loss found in searched sources. The sponsor published a result for 0 of 3 documented sales; a letter above C needs 3.	REVA Properties	25	0	0	0	None on record
NROlder programs, no outcome found	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 2 documented sales). Regulatory record: Affiliated broker-dealer expelled by FINRA in 2020 and its CEO permanently barred (final; scope: to adjudicate). 1 further event reported without a primary record, not counted.	Sandlapper Capital Investments	4	0	0	0	On record
—	A card needs three programs	Sealy & Company	1	—	—	—	None on record
—	A card needs three programs	Secure Properties	2	—	—	—	None on record
—	A card needs three programs	SLF 1031	1	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Southern Star Storage	3	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	SR Realty Trust	4	0	0	0	None on record
C0 losses · 2 reported	No documented loss found in searched sources. The sponsor published a result for 2 of 4 documented sales; a letter above C needs 3.	Starboard Realty Advisors	18	2	0	2	None on record
—	A card needs three programs	Starwood	1	—	—	—	None on record
NROlder programs, no outcome found	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).	Syndicated Equities	24	0	0	0	None on record
C1 loss · 0 reported	1 of 1 resolved programs lost capital, in a record under 20 resolved. The sponsor published a result for 0 of 5 documented sales; a letter above C needs 3. Regulatory record: FINRA fraud allegations against the founder, noted in our status record; sponsor filed Chapter 11 in 2019 (pending; scope: to adjudicate). Sponsor status: defunct.	Thompson National Properties	13	0	1	1	On record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).	Trilogy Real Estate Group	4	0	0	0	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 2 documented sales).	Valeo Groupe Americas	5	0	0	0	None on record
—	A card needs three programs	Velocis	2	—	—	—	None on record
NRNo program finished yet	No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).	Walton Global	10	0	0	0	None on record
—	A card needs three programs	WH DST Management	1	—	—	—	None on record

1031 CF Properties

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).
Programs on record: 8
Outcomes: No counted outcomes yet
Regulatory record: None on record

ACG Financial—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

AEI Capital

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 28
Outcomes: No counted outcomes yet
Regulatory record: None on record

Apollo

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 4
Outcomes: No counted outcomes yet
Regulatory record: None on record

ARCTRUST

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (2 published results, 2 documented sales).
Programs on record: 8
Sold, result reported by the sponsor: 2
Lost or impaired investor capital: 0
Counted outcomes: 2
Regulatory record: None on record

Ares (ADREX)

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 22
Outcomes: No counted outcomes yet
Regulatory record: None on record

Arrimus Capital Advisors—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

BDP Holdings

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

Behringer Net Lease Advisors

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 6
Outcomes: No counted outcomes yet
Regulatory record: None on record

Black Creek Exchange

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales). Sponsor status: acquired.
Programs on record: 17
Outcomes: No counted outcomes yet
Regulatory record: None on record

Blackstone (BXREX)

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

Blue Door AM

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

Blue Owl

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 6
Outcomes: No counted outcomes yet
Regulatory record: None on record

Bluerock Value Exchange

Reason: No documented loss found in searched sources. 14 sales with a sponsor-published result.
Programs on record: 43
Sold, result reported by the sponsor: 14
Lost or impaired investor capital: 0
Counted outcomes: 14
Regulatory record: None on record

Bonaventure—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Bourne Financial Group, LLC—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Bridgeview Student Housing—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Brookfield

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 4
Outcomes: No counted outcomes yet
Regulatory record: None on record

BT Ames Student Housing Depositor—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

CAI Investments

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).
Programs on record: 10
Outcomes: No counted outcomes yet
Regulatory record: None on record

Cantor Fitzgerald

Reason: No documented loss found in searched sources. 9 sales with a sponsor-published result; A needs 10.
Programs on record: 53
Sold, result reported by the sponsor: 9
Lost or impaired investor capital: 0
Counted outcomes: 9
Regulatory record: None on record

Capital Square

Reason: 3 of 44 resolved programs lost or impaired capital, 2 in the last 3 years.
Programs on record: 135
Sold, result reported by the sponsor: 41
Lost or impaired investor capital: 3
Counted outcomes: 44
Regulatory record: None on record

Carter Exchange

Reason: No documented loss found in searched sources. 3 sales with a sponsor-published result; A needs 10.
Programs on record: 26
Sold, result reported by the sponsor: 3
Lost or impaired investor capital: 0
Counted outcomes: 3
Regulatory record: None on record

Cottonwood Communities—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Cove Capital Investments

Reason: No documented loss found in searched sources. 7 sales with a sponsor-published result; A needs 10.
Programs on record: 99
Sold, result reported by the sponsor: 7
Lost or impaired investor capital: 0
Counted outcomes: 7
Regulatory record: None on record

Croatan Investments

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

Cunat

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (1 published results, 1 documented sales).
Programs on record: 9
Sold, result reported by the sponsor: 1
Lost or impaired investor capital: 0
Counted outcomes: 1
Regulatory record: None on record

Cypress Exchange Properties—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Dahn America360

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

DPM

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 4
Outcomes: No counted outcomes yet
Regulatory record: None on record

Driftwood Capital—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

ERP 1031

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 4
Outcomes: No counted outcomes yet
Regulatory record: None on record

ExchangeRight

Reason: No documented loss found in searched sources. 27 sales with a sponsor-published result.
Programs on record: 120
Sold, result reported by the sponsor: 27
Lost or impaired investor capital: 0
Counted outcomes: 27
Regulatory record: None on record

FG Communities—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Flatirons Asset Management

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 5
Outcomes: No counted outcomes yet
Regulatory record: None on record

Fortress Real Estate Exchange—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Forum Investment Group—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Four Springs (FSX)

Reason: No documented loss found in searched sources. 5 sales with a sponsor-published result; A needs 10.
Programs on record: 33
Sold, result reported by the sponsor: 5
Lost or impaired investor capital: 0
Counted outcomes: 5
Regulatory record: None on record

Go Store It Partners

Reason: No documented loss found in searched sources. The sponsor published a result for 0 of 3 documented sales; a letter above C needs 3.
Programs on record: 22
Outcomes: No counted outcomes yet
Regulatory record: None on record

Griffin Capital

Reason: No documented loss found in searched sources. The sponsor published a result for 2 of 4 documented sales; a letter above C needs 3.
Programs on record: 10
Sold, result reported by the sponsor: 2
Lost or impaired investor capital: 0
Counted outcomes: 2
Regulatory record: None on record

Groma—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Hamilton Point Investments

Reason: No documented loss found in searched sources. The sponsor published a result for 0 of 7 documented sales; a letter above C needs 3.
Programs on record: 10
Outcomes: No counted outcomes yet
Regulatory record: None on record

Hamilton Zanze

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 2 documented sales).
Programs on record: 19
Outcomes: No counted outcomes yet
Regulatory record: None on record

Hasta DST Ventures—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Hines

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 10
Outcomes: No counted outcomes yet
Regulatory record: None on record

HPA Exchange—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

IDEAL Capital Group Holdings

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 8
Outcomes: No counted outcomes yet
Regulatory record: None on record

InCommercial

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 7
Outcomes: No counted outcomes yet
Regulatory record: None on record

Inland Private Capital

Reason: 3 of 72 resolved programs lost capital, all more than 5 years ago. 69 sales with a sponsor-published result.
Programs on record: 235
Sold, result reported by the sponsor: 69
Lost or impaired investor capital: 3
Counted outcomes: 72
Regulatory record: None on record

Inspired Healthcare Capital

Reason: 24 of 24 resolved programs lost or impaired investor capital.
Programs on record: 33
Sold, result reported by the sponsor: 0
Lost or impaired investor capital: 24
Counted outcomes: 24
Regulatory record: None on record

Invesco Real Estate Exchange

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 5
Outcomes: No counted outcomes yet
Regulatory record: None on record

Invest Direct Management—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

JFC (JF Capital Senior Living)—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

JLL Exchange (JLLX)

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).
Programs on record: 35
Outcomes: No counted outcomes yet
Regulatory record: None on record

JWCM Exchange I

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

Keystone 1031

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 4
Outcomes: No counted outcomes yet
Regulatory record: None on record

Kingsbarn Realty Capital

Reason: No documented loss found in searched sources. The sponsor published a result for 0 of 9 documented sales; a letter above C needs 3.
Programs on record: 85
Outcomes: No counted outcomes yet
Regulatory record: None on record

Landmark Dividend—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Livingston Street Capital

Reason: No documented loss found in searched sources. The sponsor published a result for 0 of 3 documented sales; a letter above C needs 3.
Programs on record: 19
Outcomes: No counted outcomes yet
Regulatory record: None on record

Madison Capital Group

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 15
Outcomes: No counted outcomes yet
Regulatory record: None on record

Madison Realty Companies

Reason: 2 of 2 resolved programs lost or impaired capital, 2 in the last 3 years. Regulatory record: Arizona Attorney General racketeering complaint (2024) and FINRA arbitration claims (2025) over senior-care programs (pending; scope: programs).
Programs on record: 4
Sold, result reported by the sponsor: 0
Lost or impaired investor capital: 2
Counted outcomes: 2
Regulatory record: On record

Megatel (MCI Exchange)

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 6
Outcomes: No counted outcomes yet
Regulatory record: None on record

MHC Capital

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

Mirae Asset Securities and Investments—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Moody National

Reason: No documented loss found in searched sources. The sponsor published a result for 0 of 4 documented sales; a letter above C needs 3.
Programs on record: 13
Outcomes: No counted outcomes yet
Regulatory record: None on record

NAS Investment Solutions

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 11
Outcomes: No counted outcomes yet
Regulatory record: None on record

Nelson Brothers

Reason: 7 of 7 resolved programs lost or impaired investor capital. 1 further event reported without a primary record, not counted. Sponsor status: renamed.
Programs on record: 20
Sold, result reported by the sponsor: 0
Lost or impaired investor capital: 7
Counted outcomes: 7
Regulatory record: None on record

Net Lease Capital Advisors

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 2 documented sales).
Programs on record: 24
Outcomes: No counted outcomes yet
Regulatory record: None on record

NewStar Exchange

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 5
Outcomes: No counted outcomes yet
Regulatory record: None on record

NexPoint

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).
Programs on record: 34
Outcomes: No counted outcomes yet
Regulatory record: None on record

NuCare (LPT REIT)—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Nuveen—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Olympus Property

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

Origin Investments

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 4
Outcomes: No counted outcomes yet
Regulatory record: None on record

Osprey Storage

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

Pacific Oak Capital Advisors—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Passco Companies

Reason: No documented loss found in searched sources. 34 sales with a sponsor-published result.
Programs on record: 104
Sold, result reported by the sponsor: 34
Lost or impaired investor capital: 0
Counted outcomes: 34
Regulatory record: None on record

Peachtree Group

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 15
Outcomes: No counted outcomes yet
Regulatory record: None on record

PrimeDST—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Principle Equity Properties—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Rance King Properties

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).
Programs on record: 17
Outcomes: No counted outcomes yet
Regulatory record: None on record

Reliant Real Estate—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

REVA Properties

Reason: No documented loss found in searched sources. The sponsor published a result for 0 of 3 documented sales; a letter above C needs 3.
Programs on record: 25
Outcomes: No counted outcomes yet
Regulatory record: None on record

Sandlapper Capital Investments

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 2 documented sales). Regulatory record: Affiliated broker-dealer expelled by FINRA in 2020 and its CEO permanently barred (final; scope: to adjudicate). 1 further event reported without a primary record, not counted.
Programs on record: 4
Outcomes: No counted outcomes yet
Regulatory record: On record

Sealy & Company—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Secure Properties—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

SLF 1031—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Southern Star Storage

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 3
Outcomes: No counted outcomes yet
Regulatory record: None on record

SR Realty Trust

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 4
Outcomes: No counted outcomes yet
Regulatory record: None on record

Starboard Realty Advisors

Reason: No documented loss found in searched sources. The sponsor published a result for 2 of 4 documented sales; a letter above C needs 3.
Programs on record: 18
Sold, result reported by the sponsor: 2
Lost or impaired investor capital: 0
Counted outcomes: 2
Regulatory record: None on record

Starwood—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Syndicated Equities

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).
Programs on record: 24
Outcomes: No counted outcomes yet
Regulatory record: None on record

Thompson National Properties

Reason: 1 of 1 resolved programs lost capital, in a record under 20 resolved. The sponsor published a result for 0 of 5 documented sales; a letter above C needs 3. Regulatory record: FINRA fraud allegations against the founder, noted in our status record; sponsor filed Chapter 11 in 2019 (pending; scope: to adjudicate). Sponsor status: defunct.
Programs on record: 13
Sold, result reported by the sponsor: 0
Lost or impaired investor capital: 1
Counted outcomes: 1
Regulatory record: On record

Trilogy Real Estate Group

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 1 documented sales).
Programs on record: 4
Outcomes: No counted outcomes yet
Regulatory record: None on record

Valeo Groupe Americas

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 2 documented sales).
Programs on record: 5
Outcomes: No counted outcomes yet
Regulatory record: None on record

Velocis—

Reason: A card needs three programs
Programs on record: 2
Outcomes: Record Card not yet published
Regulatory record: None on record

Walton Global

Reason: No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales).
Programs on record: 10
Outcomes: No counted outcomes yet
Regulatory record: None on record

WH DST Management—

Reason: A card needs three programs
Programs on record: 1
Outcomes: Record Card not yet published
Regulatory record: None on record

Questions about this report

When is a sponsor's letter published?

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".

What does NR mean?

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.

Where does each count come from?

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 releases. Every count on a record card links to the programs it was counted from, and every program links to its document.