All Forum Posts by: Brett Henricks

Thank you Leonid, so Shadowglen is in Manor, Texas and is a multifamily property. That make 5 student housing and 5 multifamily properties that have similar distress like suspended distributions and a severe lack of communication from the Sponsor. All ten are spread out geographically, we have Florida, Texas, Nevada, Arizona, California, Louisiana, Alabama. Doesn't seem like a unique/specific market problem. Let's see how many more we can find. Versity/Crew investors please contact me I'm interested in your story,

Dan, Steve, click on each other and the others profile will come up. In the right hand corner you will see a a box that says "connect". Click on it and you can each exchange information and accept each others connection. Then, when you are on your account. You will see a little bell in the upper right hand corner telling you you have messages to read.

Leonid, thanks for your post. I was aware of the Inspire on 22nd and the Astoria properties but had not yet heard about the Shadowglen property. Where is it? Is it multifamily? Student housing? I own an interest in Inspire on 22nd as well as another Versity/Crew property (Wolf Run) and have had the same experience as you.Your Shadowglen property now makes the 10th Versity/Crew property in some kind of similar distress. When did you purchase these properties?

Crew Enterprises investors (also known as Versity) thank you for continuing to tell me of your experiences with this DST Sponsor. A true 9th active property has been identified. This one is Multi-family in Celebration Florida known as Astoria. Distributions have also been suspended at this property. If you are an investor in this property or any of the other 8 in this post I would like to hear your story. Certainly if you have a 10th property that I do not yet know of I would like to hear from you as well.

I want to clarify that I made a mistake regarding the Skyloft property. Apparently this was a Nelson Partners LLC property, principal owner Patrick Nelson. Versity now Crew is the brother Brian Nelson, I'm told. The similarities are strong with the brothers with their behaviors, such as, suspending distributions to investors and other poor business practices. Their businesses have a lot of names, hard to keep up. Keep bringing me up to speed. I am interested in hearing from you.

Crew Enterprises Investors, (also known as Versity or NB Private Capital and numerous other names) I'm still interested in your stories. I am now aware of 8 active investments that Crew has that are in distress. Student housing in Austin, Reno, Louisiana, Alabama and Tempe. Multi-family in Houston, San Diego, and Tampa. Crew (Versity) had a 9th property, Skyloft that is student housing in Austin that they had taken from them by a bridge lender. Investors in Skyloft also won a litigation. I'm interested if there are other Crew Enterprises DST's that have similar issues.

Thank you for this Eric. I own two Versity/Crew properties and have similar frustrations and experiences with them AND the broker/dealers who handled my transactions. Unanswered e-mails and misleading investor updates from Versity/Crew. If you have a Versity/Crew story I'd like to hear it. I will also do as Melanie suggests and submit a complaint to the SEC. Versity/Crew currently has 8 active properties in distress, Tampa, Tempe, Reno, Austin, Houston, San Diego, Louisiana and Alabama. Five properties are student housing and 3 are multi-family. There are likely more. 

Wow, so this Tampa property makes an 8th Crew/Versity property with suspended distributions that I have been able to find. This Sponsor has at least 8 properties in some kind of distress all in different geographical areas. We now have properties in Houston, Austin, Reno, Tempe, San Diego, Alabama, Louisiana and now Tampa. Please keep reaching out if you have one of these properties or yet another Versity/Crew property with suspended distributions. I'd like to hear from you. 

Quote from @Jon Taylor:

Not good. 

Not surprised. 

Campus housing has been under tremendous headwinds for the last 4 years.

These properties were sold with extremely aggressively optimistic projections, as well as a price that represented a significant premium to fair market value.

So sorry to hear about your investment.

Crew Enterprises DST Investors with suspended distributions please PM me Since posting this I have learned of a 7th Crew property. One in Tempe, AZ. Can you expand on your comments that the student housing properties were bought using extremely optimistic projections and at an extreme premium to the Market? Turns out the 721 UPREITis limited to one student housing property in late 2025. So the communication from Crew to the other student housing investors was a misleading tease.

Thank you for your post Harlan. I am now aware of a 7th Crew Enterprises property in Distress. Please reach out to me if you are a Crew Enterprises investor and want to get updated.