Syndication records
What to track in a real estate syndication
The investment cannot be understood from a distribution number alone.
Position facts
Record capital invested, ownership units or percentage, sponsor and legal entity, acquisition date, current stated value and valuation date, cumulative and latest distributions, preferred-return terms, fees, property-level debt if disclosed, maturity, refinance assumptions, lockup, transfer restrictions, and exit provisions.
Freshness and change
Date sponsor updates and financial statements. A stale appraisal or changed loan maturity can matter even when distributions continue. Preserve prior terms so refinancings, extensions, fee disclosures, and redemption changes do not disappear into the latest document.