Why This Question Comes Up
If you're looking into apartment syndications, you've probably run into this term fast. Some offerings, including ones structured like our Fund III, are open only to accredited investors, with third-party verification required before you can invest. That's not us being exclusive for its own sake. It's a securities law requirement tied to how the offering is structured.
We're not attorneys, and this isn't legal advice. For how the rule applies to your situation, talk to your own attorney or financial advisor. What follows is the plain version of what the rule generally asks for.
The Income Test
One path is income. You generally qualify if you've earned income above a certain threshold (individually, or combined with a spouse or partner) for the past two years, with a reasonable expectation of the same this year. The exact dollar thresholds are set by the SEC and can change, so check current figures rather than relying on an old number you heard somewhere.
The Net Worth Test
The other common path is net worth. You generally qualify if your net worth, excluding the value of your primary residence, is above a certain threshold, alone or with a spouse or partner. Again, the specific figure is set by regulation, not by us, and it's worth confirming the current number before assuming you qualify.
Professional Credentials
There's also a newer path based on certain professional licenses or credentials recognized by the SEC. If you hold one of these, it may qualify you regardless of income or net worth. This is a narrower path and worth a conversation with your advisor if it applies to you.
How Verification Actually Works
Meeting the definition isn't the same as self-certifying on a form. For offerings like ours that require it, a third party, often a CPA, attorney, or licensed broker-dealer, reviews documentation (tax returns, bank or brokerage statements, or a written confirmation) and verifies your status. We don't do this verification ourselves, and we wouldn't want to. It needs to come from someone independent.
Why This Matters Before You Commit Capital
Here's the honest reason this process exists: it's meant to confirm you can bear the risk of a less liquid, less regulated investment. Apartment syndications aren't something you can sell next week if you need cash. We underwrite conservatively and report what goes wrong alongside what goes right, but none of that changes the nature of the asset. It's a long hold, and the structure assumes you've thought that through.
What to Do Next
If you think you qualify, the next step with us is usually a short conversation, not a sales pitch. We'd rather you understand the structure, the projections (which are projections, not promises), and the verification process before anything moves forward.
If you want the background on how we evaluate deals and markets before they ever reach an investor, read our full thesis. If you have questions about the mechanics of investing with us, the investor FAQ covers more.
If you'd rather just talk it through, schedule a call with John. No pitch, no pressure, just a clear answer on whether this fits.