Crew Enterprises DST Investors with suspended distributions please PM me

[Brett Henricks]

If you are a DST investor with Crew Enterprises formerly known as Versity, and before that NB Private Capital, and have had your monthly distributions suspended I'd like to hear from you. Please PM me. Thanks to Bigger Pockets members I am now aware of six Crew DSTs that have or had their distributions suspended. Four of the DSTs are student housing in Reno, Austin, Alabama and Louisiana and two are apartments in San Diego and Houston. Crew expects some relief through the 721 UPREIT for the student housing properties but details on the execution are hard to come by. I'd like to hear about your experience. I'm curious if there are additional distressed Crew DSTs out there.

POST HAS BEEN AMENDED at the original posters request TO ADD THE FOLLOWING AS OF July 2025

"Versity/Crew Investors thank you all that have participated in this Post. If you are a Versity/Crew Investor and are new to this Post, welcome, and thank you for adding your experience and knowledge to our growing list of Investors.

Below you will find links to help you take action on your personal situation. It’s critical that as many investors as possible file complaints with the SEC and FINRA. You’ll find all these forms come populated with information and/or instructions on what to do. In some cases, all you need to do is fill out a few blanks with your property etc. Many thanks to the investor who spent their time refining and compiling this. Let’s put their excellent work into action.

1. Please review condensed reddit discussion with OK Mirror (https://docs.google.com/document/d/1Od0qYaCqXlkuBFl-FA9Q0yPr8ycenIUQ/edit?usp=sharing&ouid=117259389996581272315&rtpof=true&sd=true)

2. Please fill out and submit an SEC complaint - template here (https://drive.google.com/file/d/1Hhv8X-kXLKArz1gJALImES08L4TTuQOM/view?usp=drive_link)

3. Please send the form email to your broker and / or broker dealer - template here (https://drive.google.com/file/d/10u1IqlF8R1iY3JjpJX4vgDhJ_SR1gry5/view?usp=drive_link)

4. Please fill out and submit FINRA complaint regarding your broker and/or broker dealer (https://www.finra.org/investors/need-help/file-a-complaint)

5. Please send a demand letter to Crew - template here (https://drive.google.com/file/d/1Lzyf1YcngYEvW36P2Jr7xXsTiLqtPz-E/view?usp=drive_link)

6. Please consult someone from the list of lawyers shown in this doc file (https://docs.google.com/document/d/1pTOHKoH2cME-pHYqCt3OePWLJE94uYXH_oOsztNvZvc/edit?usp=sharing)

7. Please attend and ask these questions on all webinars - A. How do we find our properties market value at time of purchase, what was actually paid for the property and the current property value? B. Going forward, we want independent book quarterly reviews C. Going forward, we would like an independent management company. Any other questions?"

[David Walser]

The process will be expensive. At this point, I think we're just out our monthly distributions and legal fees would be expensive to try to collect that now. My long term concern is that Crew will destroy the future sales value of the properties. I would like to figure out a way to get the properties into some sort of a receivership to protect the cash flow and keep them from pilfering further. It seems that there are over 20 properties that could be in this predicament. I've connected with Brett via email and expect to have a phone chat later this week. We'll be attending an investor day DST event with a Kay Properties in Torrance, CA on April 23rd. I'm hoping to get some good advice about going after our broker from that event. At this point our broker isn't responding to my emails.