Review of MCProperties Syndication Experience (written with help of AI) The cost basis of the lost property was in excess of 68 million dollars total. That was the total of all investors and bank financing. I invested in a syndication offered through MCProperties involving two separate properties. At the time of investment, the opportunity was presented as a diversified position across both assets, with projected returns based on the combined performance of the portfolio. Unfortunately, one of the two properties has been lost, which represents approximately two-thirds of my total invested capital in this deal. This outcome has had a significant impact on the overall return profile of the investment and materially changed the risk/return balance from what was initially expected. While I understand that real estate investments carry inherent risks, including the possibility of property-level losses, the concentration of loss in a single asset within what was marketed as a two-property structure has been difficult to absorb as an investor. At this point, I am still reviewing the full outcome, including any remaining value in the second property, the final disposition details, and any communications regarding asset management decisions that led to this result. Transparency and clear updates throughout the lifecycle of the investment are especially important in situations where losses of this magnitude occur. I am sharing this feedback so other investors can understand the importance of evaluating structure, risk concentration, and downside scenarios carefully before participating in similar syndicated offerings.

Invested in their fund in 2022. Given the unusual environment of near zero interest rates, knew there could be choppy waters ahead with rising interest rates coming soon. Given the level of uncertainty at that time, I gave the bulk of my investment money to the guys whose entire reputation is that of veterans who can navigate choppy waters and difficult environments. Their entire social media presence is discussing what all the "other" syndicators did wrong during this time and how they know better from experience. We investors just received a letter stating of the 2 properties, BriarCrest has been taken back by the bank and is in forced sale situation. This is a total loss of all investor capital in this property which is about 2/3 of the value of the fund. The other property is not and has never made distributions so not looking good there either. Ross, one of the principals, stated these deals were "too aggressively underwritten". Of the 4 syndications I invested in at the time this is the only one that performed poorly. The 3 others are all making distributions and performing as expected so this is not just a matter of everyone having trouble from the rise in interest rates from that time. They also have just recently announced a merger and name change. Timing seems to suggest this may be due to financial issues and possibly obscuring a total loss on their record.