J.P. Morgan
$3.7TAUM
No full-cycle (realized) track record reported yet.
Baker 1031 tracks 82 DST and 1031 sponsors managing a combined platform AUM in the trillions, including J.P. Morgan ($3.7T), Goldman Sachs ($3.1T), Blackstone ($1.3T). 21 have reported realized full-cycle results — led by Bluerock (97), Inland (72), Walton Global Holdings (68) — and 25 have offerings currently on the Baker 1031 platform.
Goldman Sachs
$3.1TAUM
No full-cycle (realized) track record reported yet.
Blackstone
$1.3TAUM
No full-cycle (realized) track record reported yet.
Brookfield
$1.0TAUM
No full-cycle (realized) track record reported yet.
View Profile →On Platform
Apollo Global Management
$840.0BAUM
No full-cycle (realized) track record reported yet.
View Profile →On Platform
KKR
$686.0BAUM
No full-cycle (realized) track record reported yet.
Mirae Asset Management
$600.0BAUM
No full-cycle (realized) track record reported yet.
Ares Management
$595.7BAUM
No full-cycle (realized) track record reported yet.
Greystar
$320.0BAUM
No full-cycle (realized) track record reported yet.
Blue Owl
$273.0BAUM
No full-cycle (realized) track record reported yet.
View Profile →On Platform
PGIM
$208.0BAUM
No full-cycle (realized) track record reported yet.
Nuveen
$137.0BAUM
No full-cycle (realized) track record reported yet.
Cliffwater
$120.0BAUM
No full-cycle (realized) track record reported yet.
Starwood Capital
$115.0BAUM
No full-cycle (realized) track record reported yet.
Hines
$93.0BAUM
No full-cycle (realized) track record reported yet.
LaSalle Investment Management
$89.0BAUM
No full-cycle (realized) track record reported yet.
FS Investments
$85.0BAUM
No full-cycle (realized) track record reported yet.
Invesco
$85.0BAUM
No full-cycle (realized) track record reported yet.
View Profile →On Platform
Arrimus Capital Advisors
$75.0BAUM
No full-cycle (realized) track record reported yet.
Fortress Investment Group
$49.0BAUM
No full-cycle (realized) track record reported yet.
View Profile →On Platform
Kay Properties
$30.0BAUM
No full-cycle (realized) track record reported yet.
Madison Realty Companies
$24.0BAUM
No full-cycle (realized) track record reported yet.
Bluerock
$19.0BAUM
97Full-Cycle
21.39%Avg Return
1.77×Equity Mult.
View Profile →On Platform
NexPoint
$15.0BAUM
3Full-Cycle
16.83%Avg Return
1.65×Equity Mult.
View Profile →PreferredOn Platform
Cantor Fitzgerald
$13.0BAUM
9Full-Cycle
11.67%Avg Return
1.45×Equity Mult.
View Profile →On Platform
Inland
$12.3BAUM
72Full-Cycle
8.10%Avg Return
1.53×Equity Mult.
Silverstein Properties
$10.0BAUM
No full-cycle (realized) track record reported yet.
Net Lease Capital Advisors
$9.2BAUM
3Full-Cycle
8.72%Avg Return
2.74×Equity Mult.
View Profile →On Platform
Olympus Property
$9.2BAUM
No full-cycle (realized) track record reported yet.
WW Olympus Investment Company
$9.2BAUM
No full-cycle (realized) track record reported yet.
ExchangeRight
$7.0BAUM
28Full-Cycle
7.77%Avg Return
1.41×Equity Mult.
View Profile →PreferredOn Platform
SmartStop
$7.0BAUM
No full-cycle (realized) track record reported yet.
View Profile →On Platform
JLL
$6.5BAUM
No full-cycle (realized) track record reported yet.
Capital Square
$6.0BAUM
19Full-Cycle
15.20%Avg Return
1.83×Equity Mult.
View Profile →PreferredOn Platform
Time Equities
$5.4BAUM
17Full-Cycle
20.77%Avg Return
3.04×Equity Mult.
Baker Tilly
$5.1BAUM
No full-cycle (realized) track record reported yet.
ARCTRUST
$5.0BAUM
No full-cycle (realized) track record reported yet.
Passco
$4.1BAUM
34Full-Cycle
12.33%Avg Return
1.92×Equity Mult.
View Profile →On Platform
Go Store It Partners
$4.0BAUM
No full-cycle (realized) track record reported yet.
Madison Capital
$4.0BAUM
No full-cycle (realized) track record reported yet.
Hamilton Point Investments
$3.8BAUM
No full-cycle (realized) track record reported yet.
Griffin Capital
$3.5BAUM
2Full-Cycle
18.04%Avg Return
1.72×Equity Mult.
View Profile →PreferredOn Platform
Pacific Oak Capital
$3.5BAUM
No full-cycle (realized) track record reported yet.
NAS Investment Solutions
$3.36BAUM
No full-cycle (realized) track record reported yet.
Walton Global Holdings
$3.35BAUM
68Full-Cycle
8.20%Avg Return
1.35×Equity Mult.
View Profile →On Platform
Carter Exchange
$3.0BAUM
3Full-Cycle
20.07%Avg Return
1.75×Equity Mult.
View Profile →Preferred
Moody National
$3.0BAUM
2Full-Cycle
14.56%Avg Return
2.00×Equity Mult.
View Profile →On Platform
Origin Investments
$3.0BAUM
No full-cycle (realized) track record reported yet.
Sealy & Company
$3.0BAUM
No full-cycle (realized) track record reported yet.
View Profile →On Platform
1031 Crowdfunding
$2.8BAUM
No full-cycle (realized) track record reported yet.
Kingsbarn Realty Capital
$2.7BAUM
No full-cycle (realized) track record reported yet.
Bonaventure
$2.6BAUM
No full-cycle (realized) track record reported yet.
Trilogy Real Estate Group
$2.6BAUM
No full-cycle (realized) track record reported yet.
Peachtree Group
$2.5BAUM
28Full-Cycle
31.18%Avg Return
2.15×Equity Mult.
View Profile →PreferredOn Platform
Beacon Real Estate Group
$2.36BAUM
No full-cycle (realized) track record reported yet.
American Capital Group
$2.0BAUM
No full-cycle (realized) track record reported yet.
Denholtz
$2.0BAUM
14Full-Cycle
38.05%Avg Return
2.55×Equity Mult.
View Profile →Preferred
Platform Ventures
$2.0BAUM
No full-cycle (realized) track record reported yet.
Syndicated Equities
$2.0BAUM
60Full-Cycle
0.41%Avg Return
1.23×Equity Mult.
View Profile →On Platform
AEI Capital Corporation
$1.61BAUM
48Full-Cycle
6.75%Avg Return
1.55×Equity Mult.
View Profile →On Platform
CAI Investments
$1.6BAUM
No full-cycle (realized) track record reported yet.
Croatan Investments
$1.5BAUM
No full-cycle (realized) track record reported yet.
Four Springs Capital
$1.3BAUM
24Full-Cycle
7.05%Avg Return
1.47×Equity Mult.
View Profile →On Platform
Cantor Silverstein
$1.0BAUM
No full-cycle (realized) track record reported yet.
RK Properties
$1.0BAUM
No full-cycle (realized) track record reported yet.
Cove Capital
$958.0MAUM
No full-cycle (realized) track record reported yet.
Cunat
$800.0MAUM
No full-cycle (realized) track record reported yet.
Core
$600.0MAUM
No full-cycle (realized) track record reported yet.
Core Pacific
$600.0MAUM
No full-cycle (realized) track record reported yet.
HPA Exchange
$580.0MAUM
No full-cycle (realized) track record reported yet.
View Profile →On Platform
Spartan
$500.0MAUM
No full-cycle (realized) track record reported yet.
Starboard Realty Advisors
$500.0MAUM
4Full-Cycle
6.34%Avg Return
1.35×Equity Mult.
View Profile →On Platform
Virtua Capital
$500.0MAUM
No full-cycle (realized) track record reported yet.
Bridgeview
$440.0MAUM
2Full-Cycle
37.25%Avg Return
3.83×Equity Mult.
View Profile →Preferred
Livingston Street Capital
$400.0MAUM
4Full-Cycle
8.52%Avg Return
1.38×Equity Mult.
View Profile →On Platform
Nelson Brothers
$400.0MAUM
No full-cycle (realized) track record reported yet.
Nelson Partners
$400.0MAUM
No full-cycle (realized) track record reported yet.
GK Real Estate
$300.0MAUM
No full-cycle (realized) track record reported yet.
Urban Catalyst
$250.0MAUM
No full-cycle (realized) track record reported yet.
Resource Royalty
$173.0MAUM
No full-cycle (realized) track record reported yet.
View Profile →On Platform
Keystone National Properties
$130.0MAUM
No full-cycle (realized) track record reported yet.
ERP
UndisclosedAUM
No full-cycle (realized) track record reported yet.
AUM reflects each sponsor's broader platform, not its DST program alone. Full-cycle metrics are realized, net-to-investor results reported by sponsors and compiled by Baker 1031; sponsors with no full-cycle data have not yet completed a program. Past performance does not guarantee future results. This is not an offer to sell or a solicitation to buy any security. “Preferred” is Baker 1031's own designation, not an endorsement, recommendation, or guarantee of any security or future performance, and may reflect business relationships. Baker 1031 is not affiliated with, sponsored by, or endorsed by the firms listed; names and marks are the property of their respective owners, and a listing is not a recommendation or an indication that a sponsor's offerings are available. Figures are generated from the sponsor data sheet and are subject to change.
How the field compares
Of the 82 sponsors tracked, 21 have reported realized (full-cycle) results. Below: the curated Preferred cohort versus the rest of the field, the strongest realized track records, and how returns vary by property sector. Sector and dispersion figures are computed from 494 realized full-cycle properties compiled across Baker 1031's sponsor track-record sheets.
Metric
Preferred · 8
All other tracked · 13
Avg. annual return
23.05%
10.37%
Avg. equity multiple
2.11×
1.75×
Avg. hold period
4.57 yrs
6.52 yrs
Success rate
100%
90.18%
Preferred sponsors have realized a 23.05% average annual return versus 10.37% across the rest of the tracked field, at a 100% success rate — curation, measured.
Top Realized Annual Returns
Full-cycle, net-to-investor · 21 tracked sponsors
- 1Denholtz★ Pref38.05%
- 2Bridgeview★ Pref37.25%
- 3Peachtree Group★ Pref31.18%
- 4Bluerock21.39%
- 5Time Equities20.77%
- 6Carter Exchange★ Pref20.07%
- 7Griffin Capital★ Pref18.04%
- 8NexPoint★ Pref16.83%
Realized Performance by Sector
Median annual return · full-cycle property sample
- ·Multifamily12.3% med · 201
- ·Net Lease6.7% med · 55
- ·6.6% med · 55
- ·Retail7.3% med · 49
- ·Land3.9% med · 49
- ·Hotel22.8% med · 29
- ·Office9.8% med · 18
- ·Industrial15.1% med · 15
Strongest Equity Multiples
Total equity returned ÷ invested
- 1Bridgeview★ Pref3.83×
- 2Time Equities3.04×
- 3Net Lease Capital Advisors2.74×
- 4Denholtz★ Pref2.55×
- 5Peachtree Group★ Pref2.15×
- 6Moody National2×
- 7Passco1.92×
- 8Capital Square★ Pref1.83×
Most Consistent Track Records
Success rate, with downside frequency from the deal sample
- 1AEI Capital Corporation100% · 0% down
- 2Bridgeview★ Pref100%
- 3Cantor Fitzgerald100% · 0% down
- 4Capital Square★ Pref100% · 0% down
- 5Carter Exchange★ Pref100% · 0% down
- 6Denholtz★ Pref100% · 0% down
- 7ExchangeRight★ Pref100% · 0% down
- 8Four Springs Capital100% · 0% down