Has anyone invested with Djuric Family Office aka Blake Capital Group

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Brian Baumann
Rental Property Investor · Mankato, MN · Member since 2014 · 8 posts · 8 votes
1y

I was asking for more information  from Blake Capital a year or so ago. After 2 emails and no reply I marked them off my list. After seeing this I'm glad I did. Thank you to the people that come forward and post about the bad and not just the good. You are doing more good for the community then just posting about your wins!  

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  • Cheryl A.
    OP
    Investor · UT · Member since 2018 · 33 posts · 26 votes
    1y

    Yeah, the operating agreements do not distinguish between GP created docs vs legal filed docs. I'm surprised there's not more legal guard rails in place for these types of deals given the large amount of $$ involved.

    Curious when a non accredited investor is let into an investment that states it's open to accredited investors only, how does that make sense? 

    0Reply
  • Brian Baumann
    Rental Property Investor · Mankato, MN · Member since 2014 · 8 posts · 8 votes
    1y

    I was asking for more information  from Blake Capital a year or so ago. After 2 emails and no reply I marked them off my list. After seeing this I'm glad I did. Thank you to the people that come forward and post about the bad and not just the good. You are doing more good for the community then just posting about your wins!  

    5Reply
  • Evan Polaski
    Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
    1y

    @Cheryl A., if this was a 506(c) offering, and the sponsor did not make "reasonable efforts" to confirm all investors are accredited, than that is a direct violation of rule 506(c) from the SEC.

    If this was a 506(b) offering, there needs to be an existing relationship with all investors before any investment opportunities are shared.  That being said, while the intent is that most investors in a 506(b) offering are accredited, the sponsor can accept up to 35 "sophisticated" investors into the offering and still be within the rules.

    All told, private offerings are 100% a buyer beware investment.  The intent of keeping offerings open to Accredited Investors (I am guessing) was to only allow investors that can bear the financial risk.  The intent of allowing some sophisticated investors was to allow people who fully understood the risks of what they are getting into.  

    At the end of the day, there have been and will continue to be a lot a salesman trying to make a quick buck off unwitting investors, whether accredited or "sophisticated".  

    Again, unfortunately, the only way to "resolve" this for yourself is to continually get educated.  The only way to help resolve this for everyone is to file complaints with the SEC, file lawsuits, etc.  If you think there was fraud, you may have a case, but you will need to spend money to pursue it, and at the end of the day, it very likely won't yield any results, other than less money in your bank account, and worst case, you could be countersued, as some sponsors have threatened.

    1Reply
  • Ian IppolitoBusiness Member
    Investor · Tampa, FL · Member since 2015 · 1k+ posts · 1k+ votes
    1y
    Quote from @Cheryl A.:
    Quote from @Chris Seveney:

    @Cheryl Abram

    Out of curiosity what type of return were they promoting?

    Curious as another poster is intrigued by the 24% but it sounds like your return is negative 100%.

    Common syndicator game of throwing out huge returns when other funds are going under because they want you to only look at that shiny number and not what their past performance has been

    @Chris Seveney

    25.7% Annualized Return / 21.7% IRR.

    This was my first passive investment and yes I was under educated, naive and attracted by the expressed returns. I did what I felt was good amount of due diligence, but in hindsight I missed some deeper layers of analysis. 

    My biggest frustration isn't with the deal failure itself, it's more with the operating performance of the GP and honestly I'm not sure how an LP can really determine this. Ask for references which are hand picked by the GP? I don't think so. Social media seems the best resource for this nowadays.

    Out of curiosity, what recourse do LPs have when GPs fail to operate according to the operating agreement? Fail to produce K-1s in time for LP tax returns to completed on time, refuse to communicate with LPs, when LPs start to express frustration.

    Cheryl


     Cheryl, I'm sorry to hear this.

    Many investors learn expensive lessons with their early investments.

    Knowing nothing about this deal (because I didn't invest) I can already tell you the 24% projected return was a major red flag (in my opinion). That is just not realistic in this current market.

    So in my opinion it's important to expose yourself to a large number of deals, so you can develop an intuitive sense of what's reasonable and what's not (and quickly discard the ones that aren't).

    And it's true that there is no way to 100% protect from fraud (and not just in passive real estate investments but even in public stocks etc.). But there are many things that can be done to greatly reduce the chance.

    For example, many sponsors are audited which provides an additional set of eyes.

    A sophisticated investor will also typically ask for the entire claimed track record and then run it through the wringer. They will do things like compare with public records/Internet records. And for example if they see a property was taken back by the bank and is not shown on the track record as a huge loss, then that is another type of red flag.

    Internet searches can also be done on the sponsor looking for lawsuits, etc.
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  • Cheryl A.
    OP
    Investor · UT · Member since 2018 · 33 posts · 26 votes
    1y

    Thanks to all who engaged in and offered advice here. I very much appreciate it! I hope the transparency is helpful to investors.

    Note: I have received an "Online Defamation" letter from the Blake Capital Group.  

    1Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1y
    Quote from @Cheryl A.:

    Thanks to all who engaged in and offered advice here. I very much appreciate it! I hope the transparency is helpful to investors.

    Note: I have received an "Online Defamation" letter from the Blake Capital Group.  


     online defamation for what? I received one once and sent it to my attorney. This person (not Blake capital) was trying to bully me (wrong move). I was thinking - go ahead and sue, when discovery comes into play and they have to testify under oath (for example were they raising money properly and how were they managing money) - many will not want to answer that question while on the stand. 

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  • Cheryl A.
    OP
    Investor · UT · Member since 2018 · 33 posts · 26 votes
    1y
    Quote from @Chris Seveney:
    Quote from @Cheryl A.:

    Thanks to all who engaged in and offered advice here. I very much appreciate it! I hope the transparency is helpful to investors.

    Note: I have received an "Online Defamation" letter from the Blake Capital Group.  




     online defamation for what? I received one once and sent it to my attorney. This person (not Blake capital) was trying to bully me (wrong move). I was thinking - go ahead and sue, when discovery comes into play and they have to testify under oath (for example were they raising money properly and how were they managing money) - many will not want to answer that question while on the stand. 

    Their assertion:

    Which is false based on this email sent to investors (note: redacted to protect privacy.)

    1Reply
  • Francois D.
    Investor · Houston, TX · Member since 2014 · 81 posts · 25 votes
    1y

    There is an active lawsuit against Mr Djuric in Harris County. It seems small-patato. Based on his claim of net-worth above 100M, it is strange that it has reached the lawsuit level.

    https://setexasrecord.com/stories/666762037-court-activity-o...

    0Reply
  • Cheryl A.
    OP
    Investor · UT · Member since 2018 · 33 posts · 26 votes
    1y
    Quote from @Francois D.:

    There is an active lawsuit against Mr Djuric in Harris County. It seems small-patato. Based on his claim of net-worth above 100M, it is strange that it has reached the lawsuit level.

    https://setexasrecord.com/stories/666762037-court-activity-o...


     Thanks for sharing! Where might an investor learn more about the nature of this lawsuit? 

    0Reply
  • Barry Minkow
    Member since 2024 · 18 posts · 6 votes
    1y

    The link below contains a report submitted to law enforcement on Blake Capital, currently reporting "46% historical IRRs," $1.6 billion in "total capitalization," and 1,867 fully cycled units (https://blakecapitalgroup.com/our-portfolio/). Now compare this claim, made at the exact same time with pages 4-5 of this "55% historical IRR" and where Blake Capital, in a document investors will rely upon, claims to own 33 properties and 6,436 units. Classic usage of accounting language without the scrutiny of audited financial statements--not to mention 9 points of discrepency in a "historical" number.

    Here is the link to the report and addendums sent in 2024 to law enforcement.  

    https://app.box.com/s/4sedcgxd2eqou5ugizjspk406zbp75aa

    I have absolutely personally nothing against Mr. Djurici (also at https://qccapitalgroup.com/team/), or for that matter his two partners Joe Fairless (https://qccapitalgroup.com/team/), and Chris Salerno (https://qccapitalgroup.com/team/), because I was them....  

    1Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1y
    Quote from @Cheryl A.:
    Quote from @Chris Seveney:
    Quote from @Cheryl A.:

    Thanks to all who engaged in and offered advice here. I very much appreciate it! I hope the transparency is helpful to investors.

    Note: I have received an "Online Defamation" letter from the Blake Capital Group.  




     online defamation for what? I received one once and sent it to my attorney. This person (not Blake capital) was trying to bully me (wrong move). I was thinking - go ahead and sue, when discovery comes into play and they have to testify under oath (for example were they raising money properly and how were they managing money) - many will not want to answer that question while on the stand. 

    Their assertion:

    Which is false based on this email sent to investors (note: redacted to protect privacy.)


     curious have you ever heard anything further?

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    1y
    Quote from @Barry Minkow:

    The link below contains a report submitted to law enforcement on Blake Capital, currently reporting "46% historical IRRs," $1.6 billion in "total capitalization," and 1,867 fully cycled units (https://blakecapitalgroup.com/our-portfolio/). Now compare this claim, made at the exact same time with pages 4-5 of this "55% historical IRR" and where Blake Capital, in a document investors will rely upon, claims to own 33 properties and 6,436 units. Classic usage of accounting language without the scrutiny of audited financial statements--not to mention 9 points of discrepency in a "historical" number.

    Here is the link to the report and addendums sent in 2024 to law enforcement.  

    https://app.box.com/s/4sedcgxd2eqou5ugizjspk406zbp75aa

    I have absolutely personally nothing against Mr. Djurici (also at https://qccapitalgroup.com/team/), or for that matter his two partners Joe Fairless (https://qccapitalgroup.com/team/), and Chris Salerno (https://qccapitalgroup.com/team/), because I was them....  


    this link just shows Joe Fairless as an advisor not a partner or principal.. Joe has his own issues right now with Ashcroft capital  lots of threads  on that entity on BP.. And I believe he is a principal in Ashcroft.. 
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  • Cheryl A.
    OP
    Investor · UT · Member since 2018 · 33 posts · 26 votes
    1y
    Quote from @Barry Minkow:

    The link below contains a report submitted to law enforcement on Blake Capital, currently reporting "46% historical IRRs," $1.6 billion in "total capitalization," and 1,867 fully cycled units (https://blakecapitalgroup.com/our-portfolio/). Now compare this claim, made at the exact same time with pages 4-5 of this "55% historical IRR" and where Blake Capital, in a document investors will rely upon, claims to own 33 properties and 6,436 units. Classic usage of accounting language without the scrutiny of audited financial statements--not to mention 9 points of discrepency in a "historical" number.

    Here is the link to the report and addendums sent in 2024 to law enforcement.  

    https://app.box.com/s/4sedcgxd2eqou5ugizjspk406zbp75aa

    I have absolutely personally nothing against Mr. Djurici (also at https://qccapitalgroup.com/team/), or for that matter his two partners Joe Fairless (https://qccapitalgroup.com/team/), and Chris Salerno (https://qccapitalgroup.com/team/), because I was them....  



    Thanks for sharing! I was an investor in Canopy Creek. This "current" investment failed and the property was sold in Dec 2023.

    0Reply
  • Barry Minkow
    Member since 2024 · 18 posts · 6 votes
    1y

    This is very bad. I would like to talk to you

    1Reply
  • Melissa Swanson
    Member since 2019 · 1 post · 1 vote
    1y

    @Cheryl A. Just last week he had an investor call stating we were set to lose 100% of our capital on on of their apartments.  Ian specifically said, just this past Thursday night, this is the first time he has had a deal fail and the first time he has had to tell investors they are losing their money- which clearly, based on the info Is a false statement

    1Reply
  • Cheryl A.
    OP
    Investor · UT · Member since 2018 · 33 posts · 26 votes
    1y

    Hi Melissa, sorry hear that, that's so unethical! When Waterford Grove failed I was told the same. I am surprised by the investor call, all we got were emails :)  

    0Reply
  • Stuart UdisPro Member
    Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
    1y

    Speaking of too good to be true, I stumbled across an Instagram Ad last night for Blake Capital. They are now promoting a "test us out" fund with a $25K minimum where the GP collects zero fees and the LP's recieve 100% of the profit split. Quite suspicous to say the least. @Barry Minkow Have you looked into this offering?

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  • Barry Minkow
    Member since 2024 · 18 posts · 6 votes
    1y

    Hi Stuart; The equivalent of re-arranging the deck chairs on the Titanic....and I don't like boats!...Mr. Djuric's past due debt to a lender who was funding down payments for Reg D properties for Mr. Djuric no appears to be trying to force him into bankruptcy because of default on more than one loan.  My friend, if people who have lost with him speak out, listen please to them long before me.  Thank you for the question

    1Reply
  • Aileen Ciocon
    Member since 2024 · 2 posts · 1 vote
    1y

    I am glad I saw your post @Cheryl A. 

    @Cheryl A. I am thankful I saw your post. I was looking at an offering by Blake Capital Group which is the Get To Know You Fund. Imagine, 2.35x Equity Multiple, NO FEES of any kind, ALL profits go to you, 4-8% Cash on Cash (CoC), Monthly distributions, 21+% Internal Rate of Return (IRR), 3-5 Year Hold Period, $25,000 minimum investment. Currently there are 3 assets in the portfolio (one of the lead co-sponsors in one of the assets has a good track record) - I don't know about the rest. Anyway, as tempted as I am to invest, I am now more skeptical after reading your post, because it just seems too good to be true? I am an LP in one of their offerings but what keeps me at ease is that the major sponsor is a reputable one.

    1Reply
    • Cheryl A.
      OP
      Investor · UT · Member since 2018 · 33 posts · 26 votes
      1y
      Quote from @Aileen Ciocon:

      I am glad I saw your post @Cheryl A. 

      @Cheryl A. I am thankful I saw your post. I was looking at an offering by Blake Capital Group which is the Get To Know You Fund. Imagine, 2.35x Equity Multiple, NO FEES of any kind, ALL profits go to you, 4-8% Cash on Cash (CoC), Monthly distributions, 21+% Internal Rate of Return (IRR), 3-5 Year Hold Period, $25,000 minimum investment. Currently there are 3 assets in the portfolio (one of the lead co-sponsors in one of the assets has a good track record) - I don't know about the rest. Anyway, as tempted as I am to invest, I am now more skeptical after reading your post, because it just seems too good to be true? I am an LP in one of their offerings but what keeps me at ease is that the major sponsor is a reputable one.

      Hi @Aileen Ciocon, thanks for joining the discussion. Your willingness to share helps make the investment community stronger.

      With their “Get To Know You Fund”, outside of the perfectly crafted sales pitch, some additional things for potential LPs to consider:

      * what is the underlying GP partnership structure? Do they have a documented partnership agreement they are willing to share?

      * are you investing with the primary sponsor or a secondary sponsor? My experience with secondaries, like Blake Capital, has been very painful.

      * are you investing directly in the deal, or in a fund of funds? Fund of funds was discussed earlier in this thread.

      * are they being completely transparent with their investment resume? I have yet to see a GP admit to past failures, lessons learned, how they are doing things differently now for LPs.

      Ask Blake Capital to share their investment resume with you, including when they were operating under the banner of Djuric Family Office.

      Also out of curiosity, what is the criteria for earning the “reputable” sponsor tag and what evidence does an LP have access to to fact check it?

      Best of luck in your investment journey.

      Cheryl

      1Reply
  • Cheryl A.
    OP
    Investor · UT · Member since 2018 · 33 posts · 26 votes
    1y

    Has anyone had success filing a SEC fraud complaint against bad acting GPs? If so, what was your experience, what was the context and what was the outcome?

    0Reply
  • Evan Polaski
    Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
    1y

    I have not heard of any, nor have I tried to.   My guess is between the current climate of both loosening the reigns around private offerings, the reduced restrictions on businesses, and the general reduction of agency autonomy, any SEC complaints are falling on deaf ears.

    Additionally, the optics of these cases will not warrant adequate political attention to get regulators attention.  First, most syndicators have not raised meaningful capital, at least meaningful in a business world. Second, the investor base is both not broad enough, typically, nor a sympathetic crowd to the average American.  Most are accredited, and even if you are not and in a 506(b) offering, the fact that someone has $25k/$50k, etc to invest is more than most Americans. 

    0Reply
    • Cheryl A.
      OP
      Investor · UT · Member since 2018 · 33 posts · 26 votes
      1y
      Quote from @Evan Polaski:

      I have not heard of any, nor have I tried to.   My guess is between the current climate of both loosening the reigns around private offerings, the reduced restrictions on businesses, and the general reduction of agency autonomy, any SEC complaints are falling on deaf ears.

      Additionally, the optics of these cases will not warrant adequate political attention to get regulators attention.  First, most syndicators have not raised meaningful capital, at least meaningful in a business world. Second, the investor base is both not broad enough, typically, nor a sympathetic crowd to the average American.  Most are accredited, and even if you are not and in a 506(b) offering, the fact that someone has $25k/$50k, etc to invest is more than most Americans. 


      So are you saying when SEC laws/rules are  broken there's really no SEC recourse? That's really bad for investors.  

      0Reply
  • Evan Polaski
    Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
    1y

    @Cheryl A., I won't say there isn't, as I have not ever submitted a claim to the SEC.  But, given how easy it is to submit a claim, and my general skepticism on the agency (not the intent of the agency, but the underlying reasons I noted), I don't hold high hopes, nor do I know of anyone that has successfully brought actions.  

    I would assume asking some securities attorneys would be a better direction to take this question, though. 

    0Reply
  • John Britton
    Member since 2026 · 2 posts · 1 vote
    5mo

    I am requesting assistance regarding a $300,000 investment I made with Blake Capital Group, managed by Ian Djuric, for the Natiivo Fort Lauderdale real estate development project.

    I invested based on representations that the project was properly capitalized, would move forward to construction, and had a clear path to execution. I later learned that approximately $22 million in investor capital had been raised for this development.

    However, the project never progressed to construction. No building was ever started, and no physical asset or development was delivered.

    In April 2026, I received formal notice from Blake Capital Group that the investment is being written off as a complete loss, following foreclosure by the land lender (Kushner Companies), who has now taken full control of the property. See attached copy of letter.

    Key concerns:

    • Despite raising approximately $22 million, the project never reached construction.
    • There is no completed asset or development tied to investor funds.
    • I have not received a detailed accounting of how investor capital was spent or allocated.
    • The firm has acknowledged significant issues (delays, presale failures, capital shortfalls), but no clear financial transparency has been provided.
    • Investors were informed of a potential total loss only after the project had already significantly deteriorated.

    This situation has resulted in the loss of my entire life savings, causing severe financial and personal stress.

    I am requesting assistance in or advisor as I see there are other investors reporting similar losses, which raises further concern that this may not be an isolated case.

    Given that no construction ever began and no asset was delivered, I cannot reconcile how such a large amount of capital was depleted without clear explanation. Any advise or help would be greatly appreciated. Is anyone else in the same boat with Ian Djuric. Thank you.

    Thanks,
    John
    Cell 727-537-9366

    1Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      5mo
      Quote from @John Britton:

      I am requesting assistance regarding a $300,000 investment I made with Blake Capital Group, managed by Ian Djuric, for the Natiivo Fort Lauderdale real estate development project.

      I invested based on representations that the project was properly capitalized, would move forward to construction, and had a clear path to execution. I later learned that approximately $22 million in investor capital had been raised for this development.

      However, the project never progressed to construction. No building was ever started, and no physical asset or development was delivered.

      In April 2026, I received formal notice from Blake Capital Group that the investment is being written off as a complete loss, following foreclosure by the land lender (Kushner Companies), who has now taken full control of the property. See attached copy of letter.

      Key concerns:

      • Despite raising approximately $22 million, the project never reached construction.
      • There is no completed asset or development tied to investor funds.
      • I have not received a detailed accounting of how investor capital was spent or allocated.
      • The firm has acknowledged significant issues (delays, presale failures, capital shortfalls), but no clear financial transparency has been provided.
      • Investors were informed of a potential total loss only after the project had already significantly deteriorated.

      This situation has resulted in the loss of my entire life savings, causing severe financial and personal stress.

      I am requesting assistance in or advisor as I see there are other investors reporting similar losses, which raises further concern that this may not be an isolated case.

      Given that no construction ever began and no asset was delivered, I cannot reconcile how such a large amount of capital was depleted without clear explanation. Any advise or help would be greatly appreciated. Is anyone else in the same boat with Ian Djuric. Thank you.

      Thanks,
      John
      Cell 727-537-9366


      This is not uncommon in the development world.. I suspect you went into this pre covid and pre interest rate spikes those events derailed many projects.. I suspect this is as the letter states total loss and there really is not much investors can do at this point.. litigation would be throwing good money after bad.. Its the risk folks take.. And I suspect also that the original offering docs unless it was a reg A filing also stated that the investors were accredited and therefore could sustain a total loss.. No one in hindsight should ever put more money into these deals than they can afford to lose. Risk reward simply is not worth it. 
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    • Cheryl A.
      OP
      Investor · UT · Member since 2018 · 33 posts · 26 votes
      5mo
      Quote from @John Britton:

      I am requesting assistance regarding a $300,000 investment I made with Blake Capital Group, managed by Ian Djuric, for the Natiivo Fort Lauderdale real estate development project.

      I invested based on representations that the project was properly capitalized, would move forward to construction, and had a clear path to execution. I later learned that approximately $22 million in investor capital had been raised for this development.

      However, the project never progressed to construction. No building was ever started, and no physical asset or development was delivered.

      In April 2026, I received formal notice from Blake Capital Group that the investment is being written off as a complete loss, following foreclosure by the land lender (Kushner Companies), who has now taken full control of the property. See attached copy of letter.

      Key concerns:

      • Despite raising approximately $22 million, the project never reached construction.
      • There is no completed asset or development tied to investor funds.
      • I have not received a detailed accounting of how investor capital was spent or allocated.
      • The firm has acknowledged significant issues (delays, presale failures, capital shortfalls), but no clear financial transparency has been provided.
      • Investors were informed of a potential total loss only after the project had already significantly deteriorated.

      This situation has resulted in the loss of my entire life savings, causing severe financial and personal stress.

      I am requesting assistance in or advisor as I see there are other investors reporting similar losses, which raises further concern that this may not be an isolated case.

      Given that no construction ever began and no asset was delivered, I cannot reconcile how such a large amount of capital was depleted without clear explanation. Any advise or help would be greatly appreciated. Is anyone else in the same boat with Ian Djuric. Thank you.

      Thanks,
      John
      Cell 727-537-9366

      Hi John, sorry to hear this. I'm curious how many times they have used these lines with investors "This is the first investment loss of any kind in Blake Capital Group's history" , "Blake Capital Group has never experienced a loss like this before".  :( :( 

      Please report this fraud to https://reportfraud.ftc.gov/ and keep sharing your experience with Blake Capital Group on Bigger Pockets, so future potential investors are informed.

      Cheryl
      0Reply
    • Ahmed Hamza
      Investor · Saint Clair Shores, MI · Member since 2016 · 14 posts · 3 votes
      5mo
      Quote from @John Britton:

      I am requesting assistance regarding a $300,000 investment I made with Blake Capital Group, managed by Ian Djuric, for the Natiivo Fort Lauderdale real estate development project.

      I invested based on representations that the project was properly capitalized, would move forward to construction, and had a clear path to execution. I later learned that approximately $22 million in investor capital had been raised for this development.

      However, the project never progressed to construction. No building was ever started, and no physical asset or development was delivered.

      In April 2026, I received formal notice from Blake Capital Group that the investment is being written off as a complete loss, following foreclosure by the land lender (Kushner Companies), who has now taken full control of the property. See attached copy of letter.

      Key concerns:

      • Despite raising approximately $22 million, the project never reached construction.
      • There is no completed asset or development tied to investor funds.
      • I have not received a detailed accounting of how investor capital was spent or allocated.
      • The firm has acknowledged significant issues (delays, presale failures, capital shortfalls), but no clear financial transparency has been provided.
      • Investors were informed of a potential total loss only after the project had already significantly deteriorated.

      This situation has resulted in the loss of my entire life savings, causing severe financial and personal stress.

      I am requesting assistance in or advisor as I see there are other investors reporting similar losses, which raises further concern that this may not be an isolated case.

      Given that no construction ever began and no asset was delivered, I cannot reconcile how such a large amount of capital was depleted without clear explanation. Any advise or help would be greatly appreciated. Is anyone else in the same boat with Ian Djuric. Thank you.

      Thanks,
      John
      Cell 727-537-9366

      I'm with you in the same boat. Just got the email and lost six figures worth of investment. Please let me know if you hear any updates or advise, and I'll do the same. 

      1Reply
    • Dylan Robertson
      Member since 2025 · 3 posts · 4 votes
      3mo
      Quote from @Ahmed Hamza:
      Quote from @John Britton:

      I am requesting assistance regarding a $300,000 investment I made with Blake Capital Group, managed by Ian Djuric, for the Natiivo Fort Lauderdale real estate development project.

      I invested based on representations that the project was properly capitalized, would move forward to construction, and had a clear path to execution. I later learned that approximately $22 million in investor capital had been raised for this development.

      However, the project never progressed to construction. No building was ever started, and no physical asset or development was delivered.

      In April 2026, I received formal notice from Blake Capital Group that the investment is being written off as a complete loss, following foreclosure by the land lender (Kushner Companies), who has now taken full control of the property. See attached copy of letter.

      Key concerns:

      • Despite raising approximately $22 million, the project never reached construction.
      • There is no completed asset or development tied to investor funds.
      • I have not received a detailed accounting of how investor capital was spent or allocated.
      • The firm has acknowledged significant issues (delays, presale failures, capital shortfalls), but no clear financial transparency has been provided.
      • Investors were informed of a potential total loss only after the project had already significantly deteriorated.

      This situation has resulted in the loss of my entire life savings, causing severe financial and personal stress.

      I am requesting assistance in or advisor as I see there are other investors reporting similar losses, which raises further concern that this may not be an isolated case.

      Given that no construction ever began and no asset was delivered, I cannot reconcile how such a large amount of capital was depleted without clear explanation. Any advise or help would be greatly appreciated. Is anyone else in the same boat with Ian Djuric. Thank you.

      Thanks,
      John
      Cell 727-537-9366

      I'm with you in the same boat. Just got the email and lost six figures worth of investment. Please let me know if you hear any updates or advise, and I'll do the same. 


       Yikes ! I know of several capital raisers / fund of funds who were involved in this development deal that went south. It grieves me deeply - please warn other LPs about this experience on their invest clearly page by writing a verified review  https://investclearly.com/sponsors/blake-capital-group

      2Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    5mo

    probably a bad sign that the website also cannot be accessed. 

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  • Evan Polaski
    Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
    5mo

    I am sorry to hear this, @John Britton.  There are a lot of questions that should be addressed.  

    When I googled this project, it appears that Newgard is/was the main developer.  Was it ever disclosed that Blake Capital was acting as a capital raiser for this deal?  This structure, while not uncommon, is certainly a grey area within SEC rules, as I am assuming Blake Capital collected fees or some other form of compensation to bring in the money they did.  

    So, then it becomes an issue of if there was any fraud or illegal activities performed by Blake.  This will involve some level of legal expense to just review the potential case.  Maybe you could call some legal firms to possibly work on retainer, if it was worth the time, effort and stress of pursuing litigation, if litigation is even founded.  Assuming there is a case, you and your attorneys then need to determine what an acceptable outcome would be. Most of the time, especially in cases like this, you will not see much, if any of your lost investment back:  That money has been spent, and any judgement will get eaten up by legal bills pretty quickly. 

    0Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      5mo
      Quote from @Evan Polaski:

      I am sorry to hear this, @John Britton.  There are a lot of questions that should be addressed.  

      When I googled this project, it appears that Newgard is/was the main developer.  Was it ever disclosed that Blake Capital was acting as a capital raiser for this deal?  This structure, while not uncommon, is certainly a grey area within SEC rules, as I am assuming Blake Capital collected fees or some other form of compensation to bring in the money they did.  

      So, then it becomes an issue of if there was any fraud or illegal activities performed by Blake.  This will involve some level of legal expense to just review the potential case.  Maybe you could call some legal firms to possibly work on retainer, if it was worth the time, effort and stress of pursuing litigation, if litigation is even founded.  Assuming there is a case, you and your attorneys then need to determine what an acceptable outcome would be. Most of the time, especially in cases like this, you will not see much, if any of your lost investment back:  That money has been spent, and any judgement will get eaten up by legal bills pretty quickly. 


      in other words good money chasing bad..  litigation for investors in these deals rarely if ever produces anything more than lost money
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    • Chris SeveneyBusiness Member
      Moderator
      Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
      5mo
      Quote from @Jay Hinrichs:
      Quote from @Evan Polaski:

      I am sorry to hear this, @John Britton.  There are a lot of questions that should be addressed.  

      When I googled this project, it appears that Newgard is/was the main developer.  Was it ever disclosed that Blake Capital was acting as a capital raiser for this deal?  This structure, while not uncommon, is certainly a grey area within SEC rules, as I am assuming Blake Capital collected fees or some other form of compensation to bring in the money they did.  

      So, then it becomes an issue of if there was any fraud or illegal activities performed by Blake.  This will involve some level of legal expense to just review the potential case.  Maybe you could call some legal firms to possibly work on retainer, if it was worth the time, effort and stress of pursuing litigation, if litigation is even founded.  Assuming there is a case, you and your attorneys then need to determine what an acceptable outcome would be. Most of the time, especially in cases like this, you will not see much, if any of your lost investment back:  That money has been spent, and any judgement will get eaten up by legal bills pretty quickly. 


      in other words good money chasing bad..  litigation for investors in these deals rarely if ever produces anything more than lost money

       I am not familiar with any cases where an LP was able to collect personally against syndicator who had a deal go bad and it was a complete loss.

      Also, when you are dealing with these funds of funds and the sponsor is not a RIA or has any true fidicuary duty, they are really just middle men who are typically really good at raising capital for people - but have no decision making authority over the investment. I am a control freak so I always want to be direct to the person who received my $.

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