How can we help?

You can contact the Cadre team in one of three ways:

• By emailing your assigned Investor Relations sales representative
• By emailing us at investments@cadre.com
• By calling us at +1 (646) 494-7233

Our hours of customer support are between 9 AM - 6 PM EST, Monday through Friday.

If you visit Get Started, you will be directed to short survey-style questions about your contact information, whether you’re an accredited investor, the details of your investment objectives, etc. Once you submit, we will grant you access to our platform. You will then receive an email from a member of our Investor Relations team to schedule an introductory call if desired.

In order to invest in Cadre Funds, investors must meet the criteria of being an accredited investor.

“Accredited investor” has been defined by the Securities and Exchange Commission (SEC) as a test to determine who is eligible to participate in certain private capital market offerings. Generally an individual person is an accredited investor if they: (1) had an income of $200,000 over the last two years (or $300,000 jointly with a spouse or spousal equivalent) and reasonably expect to satisfy the same criteria in the current year, (2) have a net worth of over $1,000,000, either alone or together with a spouse or spousal equivalent (excluding the person’s primary residence) or (3) hold a Series 7, Series 82, or Series 65 financial services license and is in good standing. An individual must be an accredited investor to invest with Cadre.

Generally, as a non-U.S. investor you must be a qualified purchaser to invest with Cadre. Generally, an investor is a qualified purchaser if the investor (1) holds investments greater than $5,000,000 or (2) is acting on behalf of other qualified purchasers who, in aggregate, own and invest greater than $25,000,000 in investments. 

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Our website and offerings are directed solely to persons located within the United States. If you live outside the United States, it is your responsibility to fully observe the laws of any relevant territory or jurisdiction outside the United States in connection with any purchase of membership interests, including obtaining required governmental or other consents or observing any other required legal or other formalities. Unless otherwise expressly indicated by us, we have not registered or qualified the offering of shares in any jurisdiction outside the United States.

In addition to qualifying as an individual, there are other categories of accredited investors which will satisfy the SEC’s definitions: (1) any trust, with total assets in excess of $5 million, not formed specifically to purchase the subject securities, whose purchase is directed by a sophisticated person, or (2) certain entity with total investments in excess of $5 million, not formed to specifically purchase the subject securities, or (3) any entity in which all of the equity owners are accredited investors.

Cadre Funds are offered pursuant to an SEC rule referred to as 506(c). The rule requires that Cadre verify the accreditation status of each investor. For this reason, investors in Cadre Funds are asked to provide documents that attest to their accreditation to satisfy the rule.

The following documents can be provided to verify your status as an Accredited Investor:
(1) W-2s;

(2) tax form 1040;

(3) a letter from a broker-dealer, SEC-registered investment adviser, licensed attorney or CPA stating that you are an accredited investor (“a verification letter”);

(4) Individual BrokerCheck Reports (as applicable).

An accredited investor verification letter can be provided by a qualified broker-dealer, SEC-registered investment adviser, licensed attorney or CPA with knowledge of your finances who can certify as to your accreditation. The best way to get a third party verification letter is to use our easy-to-follow template verification letter and then submit it once finalized. The verification letter is only valid for three months from when it is completed by the third party.

If you are relying solely on your income to satisfy the “accredited investor” requirement ($200,000 of annual income) and your tax returns include income from another person, please provide your W2s or other individual tax documents for the last 2 years. If your returns show that you can satisfy the joint income test ($300,000 of annual income) you can provide 1040s for the last two years. Alternatively, you can submit a verification letter that confirms your status as an accredited investor (see “What is a verification letter?” above, which explains what a verification letter is).

Verifying your accreditation status through an approved method is required to invest in Cadre Funds. Accredited investors who do not want to provide these documents can still invest in most of our Deal-by-Deal offerings.

Cadre has created a template verification letter that can be shared with an appropriate verifier for completion.

Generally no. Typically only realized income (like what appears in your tax returns or is specifically exempt from tax) will be recognized as income for purposes of the accredited investor definition.

Yes, RSU dividends reported on your W-2 will count as income for purposes of satisfying the accredited investor definition.

No. Currently the SEC has only approved the Series 7, Series 82, and Series 65 licenses for accredited investor status. If the SEC expands the approved licenses to include the Series 79 in the future, then holders of the licenses in good standing could qualify as an accredited investor at that time.

No. The SEC requires that an individual hold the Series 7, 65, or 82 and be in good standing. If you no longer hold the license, you are not an accredited investor. However, if (1) your income for the last two years was above $200,000 as an individual (or $300,000 jointly with a spouse or spousal equivalent), or (2) you have a net worth over $1 million, either alone or together with a spouse or spousal equivalent (excluding the value of the person’s primary residence), you may qualify as an accredited investor under the definition.

Maintaining the integrity and security of our investors’ data is a priority for Cadre. We follow industry standards and address security in three major components: physical security, corporate IT security, and production security. Learn more by reviewing our Privacy Policy, which is available here.

Verified investors will need to re-submit verification documents for any new investment in Cadre Funds made more than one year after their most recent Cadre Funds investment.

Review of your accreditation documents can take up to 3 business days. Our team will contact you if we require any further information or documentation beyond what you have provided. Follow up requests could cause the verification of your accredited status to take longer than 3 business days.

If the materials you upload are not sufficient, we will contact you to discuss whether additional documents may be provided to establish your status as an accredited investor.

The minimum investment amount is typically $25,000 for the Fund. Deal-by-Deal investing but may be higher or lower in some cases.

Investors can submit non-binding allocation requests via the platform. Cadre then grants allocations taking into account timing, interest level, and overall opportunity size. Once an allocation is accepted, investors receive an online subscription agreement for completion prior to funding.

We take a fundamental, value-driven approach to investing. We seek to identify commercial real estate opportunities that offer attractive risk-adjusted value relative to replacement cost, stabilized cash flow, and comparable sales. We target income-producing properties in major U.S. markets with compelling fundamentals. Our focus is primarily on office, multifamily, and industrial assets, though we broadly seek opportunities with the potential for value-add through capital improvements, proactive lease management, and market positioning.

Each Cadre investment partnership is incorporated under Delaware law. In the event the General Partner (Cadre) files for bankruptcy or is declared insolvent, the General Partner would be deemed to have withdrawn from the Partnership. Pursuant to the agreements governing each partnership, investors would then decide how to replace the General Partner and continue or dissolve the fund.

No. The commercial real estate opportunities available on our platform are not meant to be used in 1031 exchange transactions.

Achieving liquidity prior to the full hold period will not necessarily negate the tax benefits to you: the rules permit further rollover of gains realized upon a sale of your interest in the QOF (it’s important to note that the purchaser of your interest may not be able to receive any of the O-Zone tax benefits). To this point, we do not intend to offer investors the ability to list their interests on our Secondary Market during our hold period. The availability and use of the Secondary Market is subject to the terms of that feature and there is no guarantee that a buyer will be found if you do list interests (See our Secondary Market FAQ for more information). Investors should therefore plan to hold the asset for the full life of the QOF.

Investors can participate in the Opportunity Zone program in the same way they participate in non-OZ deals. Once a transaction is available for subscription, we will open that deal for allocation requests on the Cadre platform. Subject to set asides for managed accounts or institutional commitments, allocation requests are accepted on a first-come, first-serve basis.

All investors should consult their tax advisors to confirm their local requirements.

The Opportunity Zone Regulations allow you to invest in a QOF immediately. For that QOF to qualify prior to actually undertaking a development/investment, the manager must produce a written schedule that describes the planned expenditure of the cash (and other working capital). This schedule must be produced prior to the end of the first 6 month period of the QOF (and in all events by December 31 of the O-Fund’s first year) and must generally contemplate the expenditure of the QOF assets within a 31-month period, thereby providing the flexibility to extend the window between gain recognition and capital deployment to as much as three years. Please reach out to us to discuss specifics related to your situation in order to arrive at an optimal funding strategy.

Unlike a 1031, the Opportunity Zone rules allow you to reinvest any gain, not just gain from the sale of “like-kind” real estate assets. Moreover, Opportunity Zone investment requires no intermediaries. You can hold your gain on your own and still benefit on any part of it you invest in an Opportunity Zone within 180 days. Please reach out to us for a more comprehensive side-by-side between 1031s and Opportunity Zones.

QOFs will self-certify using Form 8996 as a part of their tax return. Given the self-certification, there is no initial approval process by the IRS. Cadre, as the manager of the QOF, will need to file IRS Form 8996 every year to report compliance with the 90% asset test and other matters required by the IRS. When filing tax returns, investors will elect a deferral using Form 8949 and Form 8897. All investors should consult their tax advisors regarding their individual reporting requirements.

For U.S. taxpayers, we aim to provide annual K-1 statements by the first week of April for principal deals. For U.S. taxpayers, we aim to provide annual K-1 statements in a timely manner for curated deals but cannot guarantee that they will be available prior to April 15th. Investors can find all current and historical statements on the Documents tab on the asset page.

Through the Cadre Secondary Market, you may have an option to offer your position for sale on our platform at a target sale price based on the net asset value (“NAV”) of the investment at that time. Investments typically are first eligible to post on the Secondary Market six months after the Initial Close. However, liquidity and pricing are not guaranteed. Prior to investing, you should assume that you may be required to hold your investment for the duration of Cadre’s hold period.

Investors will purchase an ownership interest in a Delaware limited partnership managed by Cadre. Typically, the Cadre managed partnership(s) and an affiliate of the Sponsor entered into an LLC joint venture that indirectly owns the Asset.

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Investors can expect to receive the following:

• Property Updates: We provide quarterly updates for each property within 45 days of quarter-end (your first quarterly report may follow the first complete calendar quarter). An online summary and full downloadable report can be accessed through our Portfolio page.
• Investor NAVs: We aim to publish Investor NAVs roughly 60 days after quarter-end. ‍
• Tax Reporting: For U.S. taxpayers, we aim to provide annual K-1 statements by the first week of April for principal deals. For U.S. taxpayers, we aim to provide annual K-1 statements in a timely manner for curated deals but cannot guarantee that they will be available prior to April 15th. Investors can find all current and historical statements on the Documents tab on the asset page.

For each investment, we typically target 3-8 year hold periods. However, Cadre maintains the right to exit investments outside of this time frame to the extent that it determines that doing so would be in the collective best interest of its investors. 

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You may be able to offer your interests for sale on the Cadre Secondary Market at a sale price based on the net asset value of the investment and a secondary market discount rate. The Cadre Secondary Market is open once a quarter. However, liquidity, pricing and individual asset eligibility to be listed on the Secondary Market are not guaranteed. Prior to investing, you should assume that you may be required to hold your investments for the duration of Cadre’s hold period.

Clients are typically subject to

1) A one-time transaction fee, which is included in the investor’s funding amount for each transaction, and

2) An annual asset management fee, which is deducted from distributable cash flow.

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Specific fee levels can vary by product and deal. Please refer to a deal’s Private Placement Memorandum for a detailed breakdown of fees.

Sell orders can be placed by any eligible investors in partnerships that have been approved by the general partner for secondary transfers. This feature is not available yet for partnerships that were established for U.S. tax-exempt or non-U.S. investors (so-called “parallel partnerships”).

Partnerships are generally first eligible to trade on the secondary market after the partnership is fully syndicated and first valuation is complete, which generally occurs nine months from the date of an asset’s acquisition. Once this threshold is met, sellers in eligible partnerships will generally have the opportunity to place their interests for sale during quarterly windows established by Cadre. We expect these windows will take place for approximately 1 to 2 weeks in the middle of each quarter.

Sellers can place 100% of their interests for sale in any eligible partnership. Sellers also have the option to place a portion of their interest for sale. Partial sales require a $50,000 minimum and can then be increased in increments of $5,000. The remaining investment after a partial sale must be at least $10,000. Please contact investments@cadre.com to learn more.

Sellers will have the ability to offer their positions at a specified discount or premium to their “Marked Value.” Discounts/premiums for eligible assets are based on prior quarters’ supply and demand levels and are determined separately from the Marked Value. See the definition of “Marked Value” below for more detail. As we continue to refine the Cadre Secondary Market, we expect to update (and could restrict) the range of prices that positions can be offered at.

In order to facilitate an efficient experience on the Cadre Secondary Market, we do not currently accept orders at prices that vary from the specified discount to the Marked Value.

The Marked Value represents an updated assessment of an investment’s value and is determined quarterly by Cadre and then adjusted throughout each quarter to reflect distributions made to owners. Marked Values determined by Cadre for investments in the Secondary Marketplace are also audited semi-annually by a third-party auditor. Marked Value is stated net of partnership-level expenses and prior distributions. Please note that updated Marked Values are released within 45 days of each quarter end (read more about marked values and net asset values here).

The parameters of the partnership or order usually require that your sell order represent a non-binding expression of interest until it has been posted to buyers for at least 15 days. Your order will remain cancellable by you (by contacting investments@cadre.com) at any time until the expiration of the 15 day period. The only exception to this is if your order is not required to be posted to our specialized platform – in that case, Cadre may include additional information in our emails to you.

If your order is successfully matched in part, we may proceed with a sale of that part of your listed interest that matched with an eligible buyer. The limitations that apply to partial sales (see “How much of my interest can I sell?” above) will not necessarily apply to partial sale matches. If for any reason you do not want to allow a partial sale of your listed interest, please contact investments@cadre.com before the buyer window starts.

Upon closing of your secondary sale, Cadre will send your proceeds (net of fees and charges) to the bank account we have on file. We will seek to facilitate closing and settlement as reasonably early as possible, but we generally expect to distribute sale proceeds at least 45 days after the buyer window for your sale started.

The effective date of the transaction will be at least 45 days after interests in the sales window were posted for sale (e.g., when the buyer windows open). For example, if the buyer window opens on May 30th, the effective date of a trade made in that window would be July 14th or later. Allocation of taxable income/loss will be made as of the last day of the calendar quarter that immediately precedes the effective date of your sale. For example, if the effective date of a transaction is July 14th, allocations of taxable income/loss to you will be through June 30th.

Distributions generated prior to the effective date will accrue to the benefit of the seller. For example, if the effective date of your transaction is July 14th and a distribution is generated prior to July 14th, the seller will receive the benefit of that distribution.

You will not be able to re-list your interest until after the 60th calendar day following the day your originally listed interest is removed. We do not guarantee liquidity or pricing. Prior to investing, you should assume that you may be required to hold your investment for the duration of the partnership. In certain limited circumstances, and only to the extent consistent with tax and regulatory requirements, Cadre may offer, as a buyer pursuant to the rules above, to acquire certain interests that you have posted, which may be at a price and on terms which differ from the price ranges set forth above (but which will in all cases comply with the tax regulations applicable to the matching services discussed herein).

We expect to generally permit sell orders after all applicable hold periods have been satisfied. However, there may be circumstances that we determine would prevent an asset listing, such as an active sale process at the property level, triggering of property loan covenants, and certain natural disasters, given their potentially material effect on valuation and projections. Cadre reserves the discretion on whether or not a particular window will open or a particular trade can be executed.

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Additionally, the general partner of a partnership may restrict transfers including to comply with tax regulations that cap certain transfers to no more than 10% of the partnership interests during any taxable year. This may result in the cancellation of an offer to sell and a bid to purchase that would otherwise have become a binding agreement, and the transfer of the offered interest will not occur. All determinations regarding this and other limitations on transactions in a partnership will be made by the applicable general partner in its sole discretion.

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Buyers must be “accredited investors” that are either U.S. taxpayers or otherwise able to own interests in a U.S. pass-through partnership.

Buyers will generally have a 1 to 2 week window to review and evaluate secondary offerings. These windows will typically take place in the first two weeks of the last month of a calendar quarter (i.e., early March, June, September, December).

Investment memorandums and quarterly updates available in the Documents tab of each investment page reflect the partnership’s targeted returns at the original closing (based on underwriting information) and property and business plan performance at each valuation date. Due to differences in purchase prices and investment timing, the potential returns of a secondary purchase will differ from the partnership’s targeted returns. You can always contact investments@cadre.com to learn more.

For sales where the parameters of the partnership or order will require posting to our specialized platform, your buy order will represent a non-binding indication of interest (“IOI”) that expresses your interest in buying the interest. In those cases, your IOI will become a binding commitment on the 15th day after the seller’s interest has been posted (when the buyer window opens) and you may cancel your IOI any time before it becomes a binding commitment by contacting investments@cadre.com.

You generally need to fund your secondary purchase on the 45th day after the seller’s interest has been posted (when the buyer window opens). If your buy order is matched, a representative from the Cadre team will reach out to you to provide wiring instructions and timelines.

You will receive an email notification that you are closed into the investment and will be able to view your investment on your Portfolio page. You will receive reporting and any future distributions for that investment as of the effective date of purchase.

Sell orders are matched with eligible buyers on a first-come, first-served basis except that we will prioritize matching any available positions that were for sale in the prior quarter. If for any reason the first matched buyer fails to proceed with the transaction, the interest can be awarded to the next eligible buyer.

To be prioritized, the same position (less any portions sold in the prior quarter) needs to be offered in the immediately following quarter although the position’s price may be changed to account for the Marked Value or a new specified discount rate.

Sellers are charged 1.5% and buyers are charged 3.25% on the gross transaction price, which is paid to Cadre at the time of transfer. Funding amounts and target returns are always stated net of fees unless otherwise indicated.

No. Participants remain anonymous to one another unless disclosure is required to comply with law or to effectuate the transaction.

Cadre Cash is an interest bearing savings account. The bank services for Cadre Cash are provided by Evolve Bank & Trust (“Bank”), Member FDIC, through our technology partner.

Some of the main benefits of the Cadre Cash program are:

• FDIC insurance for up to $750k. Cash in the Cadre Cash Account is FDIC insured through our partner banks, with accounts eligible for up to $750k of FDIC insurance via the Multi-Bank Program.[1]
• No fees. There are neither fees to you associated with the Cadre Cash account nor additional charges to you for withdrawals or transfers.[2] Fees charged by Cadre are tied to our real estate investment products. Any fees charged by the bank providers will be covered by Cadre.
• Make regular withdrawals and deposits. Easily move your money in and out of your cash account at no cost. Your Cadre Cash account is your own bank account so you can make deposits and withdrawals regularly.
• Limit your market risk. Since your cash deposits are in a savings account at a bank, they are not invested in the stock market and you can rest easily that the cash will not be subject to market volatility.

1. Decide how much you want to invest with Cadre.
2. As part of our sign up flow, we will open a Cadre Cash account for you
3. Fund your real estate investments using your Cadre Cash account and deposit or withdraw from your Cadre Cash account regularly.

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At this time, Cadre Cash is available to U.S.-based individual investors and joint tenants who meet our accreditation criteria and invest in Cadre real estate offerings. Additionally, you’ll need a U.S.-based external bank account to fund your Cadre Cash account.

Cadre Cash is currently not available for international investors, or U.S. individuals who invest through limited liability companies, trusts or other arrangements.

Your annual percentage yield, or APY, provided by our partner bank is variable and can change.[3] Our partner bank’s interest rate is tied to the federal funds rate, which is the rate at which banks can loan money to each other and is set by the Federal Reserve.

Our partner bank offers a variable interest rate on the Cadre Cash account. The variable APY is 4.58% as of April 7, 2023.

We do not charge you any fees associated for the Cadre Cash account.[2] Fees at Cadre are tied to our real estate investment products.

There is no additional charge for any withdrawals or transfers.

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Interest on your account accrues no later than the business day that deposits are applied and will be credited to your Cadre Cash account on a monthly basis. Interest is paid by the bank partner.

There is no minimum balance requirement to open or maintain your Cadre Cash account.

You will receive statements and/or year end tax forms from the bank partner for the interest paid to your Cadre Cash Account.

When you sign up for Cadre Cash, you will link your external bank account to deposit funds into your Cadre Cash account via ACH.

You can initiate a withdrawal from your Cadre Cash account to your linked external account at any time and for no fee² by scheduling a transfer on the Portfolio page.

²You are not charged maintenance or activity fees for your Cadre Cash Account. Certain fees charged by the bank partner(s) may be covered by Cadre Cash LLC.

When you invest in a new real estate opportunity with Cadre (or your existing investment calls for an additional capital contribution), you will be notified by Cadre of the funding deadline and, for users of Cadre Cash, we will automatically initiate the withdrawal from your Cadre Cash account to fund your investment.

If you would like to close your Cadre Cash account, please contact your assigned sales representative or email investments@cadre.com, and we will assist you.

Cadre Cash facilitates efficiently making capital contributions to and receiving distributions from Cadre investments. Investors who qualify for a Cadre Cash account (i.e., U.S. based individuals investing through their individual account) are asked to open a Cadre Cash account before they can invest. If you would like to not open a Cadre Cash account, you can still use wire to fund your investments.

Your Cadre Cash deposits are eligible for insurance by the Federal Deposit Insurance Corporation (FDIC) at our partner banks up to an amount of $750,000, or $250,000 per bank through the Multi-Bank Program.[1]

No fees There are no fees associated with opening or closing your Cadre Cash account. And you pay no monthly service charge or transaction fees. Certain fees charged by the bank providers are covered by Cadre Cash LLC.

Though we don’t expect to ever charge fees for Cadre Cash, we reserve the right to change the Cadre Cash fee structure - any changes will be communicated to you in advance. Your continued use of Cadre Cash after any fee change(s) comes into effect will constitute your agreement to pay the fees.

While you can make regular withdrawals and deposits from your Cadre Cash account, and easily move your money in and out of your Cadre Cash account at no cost,[2] there are transaction limits based on the type of transfer. See below for the regular limits.

As a savings account, the number of withdrawal transactions that can be made monthly are also capped based on banking regulations. There is usually a 6x per month cap on withdrawals.

If your Cadre Cash account is configured to have increased transaction limits then the following limits are in place.

Your Cadre Cash account operates as a savings account, so your deposits are liquid and can be withdrawn as needed.* However, it is important to maintain enough deposits to satisfy capital calls for real estate investments you subscribe to with Cadre. We expect most users will receive quarterly capital calls while investments are being made.

* Subject to transaction limits.

Your deposits into your Cadre Cash account will be held at Evolve Bank and other banks in the multibank program including a custodial account where they are held in an FBO account. See the Cadre Cash terms for more detail.

The services provided to you for your Cadre Cash account are subject to the applicable account agreements available in your document folder and our terms of service. Your investment agreements will also allow Cadre to make electronic transfers to/from your Cadre Cash account. These documents contain the definitive terms and conditions of your account.

You can link your bank account to your Cadre Cash account via our integration with Plaid. When you are ready to request an allocation to one of our real estate investments, you will be prompted to submit your bank information as you go through the signing flow.

You can withdraw your funds to the bank account you linked with the Plaid integration.

You can contact the Cadre team in one of three ways -

1. By emailing your assigned sales representative
2. By emailing us at investments@cadre.com
3. By calling us at 646-494-7233

Our hours of customer support are between 9 AM - 6 PM EST, Monday through Friday.

Maintaining the integrity and security of our client’s and partner’s data is a priority for Cadre. We address security in three major components, physical security, corporate IT security, and production security, to maintain industry standards.

If you are having trouble logging in, please contact your assigned sales representative or email us at investments@cadre.com.

If you did not receive your email verification code, please check your spam folder. If you still cannot find your verification code, please reach out to your assigned sales representative or email us at investments@cadre.com.

Cadre needs to verify your identification because of federal regulations intended to deter illegal or fraudulent activity.

We will ask you to upload either your driver’s license or passport, and in some cases your social security card.

Your identification documents will be verified by our team and our certified third-party vendor.

We intend to make regular (roughly quarterly) distributions from available cash flow once a project is stabilized. These distributions may vary depending on each period’s cash flow and capital requirements. Size and timing of distributions depend on the business plan and performance of each transaction. Distributions are automatically deposited into your bank account on file. You will be notified of upcoming distributions and are able to track your distribution history through our online platform.