Real Estate Platform Comparison· Updated May 5, 2026
A side-by-side breakdown of returns, liquidity, fees, and trustworthiness to help you decide where to invest your money.
Cadre is a credible accredited-only commercial real estate platform with strong reported historical IRRs and institutional backing, but its $50,000 minimum, the January 2024 acquisition by Yieldstreet (now Willow Wealth), and a 2018 Kushner Cos. property controversy mean retail investors and platform-trust-sensitive investors should weigh it carefully.
CrowdStreet is a credible way for accredited investors to access vetted commercial real estate deals, but $25,000 minimums, sponsor-driven fees, and 3–10 year holds put it out of reach for most retail investors. The 2022 Nightingale fraud case is also a sobering reminder that sponsor risk on crowdfunding platforms is real.
At a Glance
Pros & Cons
Institutional-quality commercial deals
Cadre curates commercial real estate offerings — multifamily apartments, office, hotels, industrial — that typically only institutional investors can access directly.
Established platform with track record
Founded in 2014, Cadre has reported approximately $184 million in cumulative gross distributions to investors and a roughly 17.8% historical IRR across realized deals.
Cadre Direct Access Fund
Investors who don't want to pick deals one-by-one can use the Cadre Direct Access Fund, which builds a diversified portfolio across roughly 15 high-growth U.S. markets.
Backed by a larger alt-investment platform
Since January 2024, Cadre has operated as part of Yieldstreet (rebranded to Willow Wealth in October 2025), a multi-asset alternatives platform with broader product distribution. Cadre's CEO Ryan Williams continues to lead the brand and Cadre's investment team transitioned with the deal.
$50,000 minimum
Cadre's typical direct-deal minimum is $50,000 — among the highest in our comparison set. Spreading capital across multiple deals (the prudent diversification strategy) requires several hundred thousand in available capital.
Accredited investors only
Cadre is closed to non-accredited investors. You must verify $200K+ income (or $300K+ jointly), $1M+ net worth excluding primary residence, or hold relevant financial licenses.
5–8 year hold periods, limited liquidity
Cadre deals typically run 5–8 years with no formal early-exit option. Sponsors decide when to liquidate. Capital should be considered locked for the full hold.
Now part of Willow Wealth (formerly Yieldstreet)
Yieldstreet completed its acquisition of Cadre on January 23, 2024 and rebranded the parent platform to Willow Wealth in October 2025. Investors who want a fully independent commercial real estate platform should factor in that Cadre's parent company has faced significant investor-loss coverage tied to other (non-Cadre) parts of its business.
2018 Kushner Cos. controversy
In 2018, Fortune Magazine and Bloomberg reported Cadre benefited from misleading rent filings on a Kushner Cos. property deal. The episode prompted significant scrutiny of the platform's underwriting and disclosure practices.
Limited public transparency
Independent reviewers (notably the Real Estate Crowdfunding Review) have flagged Cadre for declining to answer detailed performance and methodology questions. The platform reports its own IRR figures but external scrutiny is limited.
Institutional-quality commercial deals
CrowdStreet curates commercial real estate deals — multifamily, industrial, hospitality, medical office, data centers — that retail investors typically cannot access directly.
Comprehensive deal documentation
Each offering ships with a detailed business plan, sponsor profile, financial model, and a project launch webinar. Documentation depth is among the best in the space.
Long track record
Founded in 2014, CrowdStreet has facilitated more than 600 commercial real estate deals worth over $4 billion since launch. The platform publishes performance data on realized deals and an investor portal that aggregates across the portfolio.
Vetted sponsors
CrowdStreet approves only a small percentage of sponsor applicants (publicly cited ~2–5%) and runs background, asset, and offering-terms reviews on each listing.
$25,000 minimum
Most offerings require a $25,000 commitment, which prevents proper diversification for all but high-net-worth investors. Spreading capital across 5+ deals (the typical recommendation) requires $125k+.
Accredited investors only
CrowdStreet is closed to non-accredited investors. You must verify $200k+ income ($300k for couples) or $1M+ net worth excluding primary residence.
Long lock-ups, sponsor-controlled exits
Hold periods are typically 3–7 years and CrowdStreet warns investors may be forced to hold for 10+ years. Sponsors decide when to sell. There is no secondary market.
Sponsor risk and the Nightingale case
In 2022–2023, Nightingale Properties offerings on CrowdStreet were the subject of a high-profile fraud case. In February 2025, Nightingale CEO Elie Schwartz pleaded guilty to wire fraud involving roughly $54 million raised from CrowdStreet investors. The episode forced the platform to overhaul its escrow controls and remains a key cautionary tale about sponsor risk on crowdfunding platforms.
Returns reported before fees
CrowdStreet's headline 18.3% historical IRR is calculated before sponsor fees. Sponsor fees can be substantial and vary deal-by-deal, materially reducing what investors actually receive.
Deep Dive
What You're Investing In
Individual commercial real estate deals (multifamily apartments, office, hotels, industrial) and the Cadre Direct Access Fund. Both carry meaningful minimums and accreditation requirements. Cadre branding lives inside the broader Willow Wealth platform.
Individual commercial real estate deals (multifamily, industrial, hospitality, office, retail, medical office, data centers, parking) and the C-REIT diversified fund. Most carry a $25,000 minimum.
Property Locations
The Cadre Direct Access Fund covers approximately 15 high-growth U.S. markets, with concentration in Sun Belt metros. Direct deals are sourced across the U.S.
Deals span the U.S. with concentration in growth-market metros — Texas, Florida, Arizona, Georgia, the Carolinas, Tennessee, and the Mountain West. Each project's location is disclosed in its offering documents.
Expected Returns
Cadre reports a historical IRR of approximately 17.8% across realized deals and roughly $184 million in cumulative gross distributions. Advertised target returns on individual offerings typically range 10–15%. Past performance is platform-reported and not independently audited.
CrowdStreet reports a historical realized IRR of approximately 18.3% before fees across exited deals. After typical sponsor fees, real net IRR is meaningfully lower and varies deal-by-deal. Some realized deals have lost all investor capital — a reality CrowdStreet discloses in its annual performance report.
Fees
Cadre's fee structure varies by offering and includes both platform-level and sponsor-level fees. Read each deal's fee schedule carefully. Fund products typically include both management and carried-interest fees.
Reported returns are gross of fees. Sponsors charge investors whatever they see fit — fees can exceed 20% of invested capital over the hold period. CrowdStreet itself charges sponsors 0.5–2% to list, indirectly built into deal pricing.
Liquidity
Typical hold periods run 5–8 years. Sponsors decide when to liquidate; investors do not control exit timing.
Hold periods are typically 3–7 years. CrowdStreet's own disclosures warn investors may be forced to hold for 10+ years if sponsors delay sale.
Who Can Invest
Accredited investors only. SEC accreditation requirements apply: $200,000+ annual income (or $300,000+ jointly), $1,000,000+ net worth excluding primary residence, or holding relevant financial licenses.
Accredited investors only. Verification of income ($200k+ individual / $300k+ couple) or net worth ($1M+ excluding primary residence) is required before investing.
The Verdict
Cadre is a credible institutional-quality commercial real estate platform with a strong reported track record and a diversified fund product. The $50,000 minimum and accredited-only access already limit it to high-net-worth investors, and the January 2024 acquisition by Yieldstreet — now Willow Wealth — plus the lingering 2018 Kushner Cos. controversy and limited public transparency add additional considerations. High-net-worth investors who already have institutional CRE exposure may still find selective value here, but most retail investors should look elsewhere.
Full Cadre review →CrowdStreet is a credible option for high-net-worth, accredited investors who want curated access to institutional commercial real estate. Documentation is strong, the sponsor vetting is real, and historical IRRs look attractive. But the $25,000 minimum, sponsor-controlled exits, lack of secondary market, and the lessons of the 2022 Nightingale case make this a platform that demands sophistication and diversification. Retail investors and anyone looking for liquidity will find better options elsewhere.
Full CrowdStreet review →Bottom Line
CrowdStreet scores higher (3.0/5) and edges out Cadre on our investment quality criteria.
CrowdStreet is a credible way for accredited investors to access vetted commercial real estate deals, but $25,000 minimums, sponsor-driven fees, and 3–10 year holds put it out of reach for most retail investors. The 2022 Nightingale fraud case is also a sobering reminder that sponsor risk on crowdfunding platforms is real.
Frequently Asked Questions
Based on our scoring criteria — returns, fees, liquidity, transparency, minimums, and track record — CrowdStreet (3.0/5) scores higher than Cadre (2.5/5). CrowdStreet is a credible way for accredited investors to access vetted commercial real estate deals, but $25,000 minimums, sponsor-driven fees, and 3–10 year holds put it out of reach for most retail investors. The 2022 Nightingale fraud case is also a sobering reminder that sponsor risk on crowdfunding platforms is real.
Cadre's minimum investment is $50,000 (typical direct deal). CrowdStreet's minimum investment is $25,000.
Cadre: Typical hold periods run 5–8 years. Sponsors decide when to liquidate; investors do not control exit timing. CrowdStreet: Hold periods are typically 3–7 years. CrowdStreet's own disclosures warn investors may be forced to hold for 10+ years if sponsors delay sale.
Cadre reports average yearly returns of ~17.8% historical IRR per Cadre's own platform reporting. CrowdStreet reports average yearly returns of ~18.3% historical IRR before fees on realized deals. Past performance does not guarantee future results.
One of the most flexible ways to invest in real estate
$50 minimums · Daily rent payouts · No lock-up periods · 24/7 exchange