I invested in two core properties with this sponsor. One was student housing, for which they fumbled and lost their lease with the school, drove down occupancy from 100% to something abysmal and ended up performing at a 0.4x equity multiple after a 5+ year hold. The 2nd investment was marketed as multi-family with a master lease but they fumbled that negotiation, drove down stabilized occupancy from 100% acquisition to 65% when the current submarket is at 90+% in downtown Memphis. They can't make debt payments so I'm pretty sure they're borrowing from one of their discretionary funds (other investor's money) to make the debt service. DO NOT INVEST WITH THESE GUYS.

One of the worst passive investments I have ever made! I invested (almost $200,000) with these guys back in 2015 and I have yet to exit any of the investments due to "worse than expected property performance compared to the pro-forma". Distributions all stopped within a year and very little has been done to exit any of these holdings since they wont get paid their mgmt fees anymore if they sell the properties. So my money is DEAD and earning me nothing until such time that they decide to exit these investments (it has been a decade already!!!)

Unfortunately, my experience as an investor in Alpha GP Fund I has been disappointing. The performance has been underwhelming, and it’s been frustrating that the quarterly reports are consistently late, creating a lag in understanding the current status of the Fund. I hope the situation improves, but so far, this investment experience has fallen well short of expectations.