Generating Asymmetrical Returns Through Real Estate Syndication.

A real estate syndication is a group of investors pooling capital to fund a single property or project together. A sponsor, acting as general partner, sources the deal, raises the equity and manages execution. Investors participate as limited partners: they contribute capital, hold a passive stake, and share in profits according to terms agreed in advance.

The sponsor identifies a property and underwrites it, then forms an entity for that project and raises equity from investors. Once funded, the sponsor executes the business plan — entitlement, construction, repositioning or lease-up. On sale or refinance, proceeds are distributed through a waterfall set out in the offering documents: typically return of capital, then a preferred return to investors, then a split of remaining profit between investors and sponsor.

A preferred return is a rate investors are paid before the sponsor participates in profit. It is a priority in the distribution order, not a guarantee — if a project does not produce enough proceeds, the preferred return is not paid. The specific rate and structure vary by project and are defined in each offering's documents.

Both are exemptions that let a private offering raise capital without registering with the SEC. Under 506(b) the sponsor cannot advertise the offering publicly and generally relies on pre-existing relationships with investors; a limited number of sophisticated non-accredited investors may participate. Under 506(c) the sponsor may market the offering publicly, but every investor's accredited status must be verified rather than self-certified.

Private placements are generally limited to accredited investors, a status defined by SEC rules using income, net worth or professional-credential thresholds. Whether a particular person qualifies depends on their own circumstances and is determined through the offering's subscription process, not by this website. See our guide to accredited investor requirements.

Start with a conversation. Request one here and tell us about your goals and experience with private real estate. We set up an introductory call, and when a specific project is a fit, qualified investors review its business plan and offering documents privately. Subscriptions, documents and reporting are then handled in our secure investor portal.

Minimums are set project by project in each offering's documents, so we cover them in a one-on-one conversation rather than publishing them here.

No. The principals personally guarantee the loans on every Assemble Capital project, and investors never sign personal guarantees on project financing. The guarantee runs to the lender, not to investors, so it does not protect investor capital; it means the debt obligations sit with the principals rather than with you.

Through our secure investor portal: regular project updates and reporting, construction progress, annual K-1s, and every investment document in one place. You can also reach the principals directly.

Business plans typically run 12 to 36 months. An SB 684 project, for example, takes about 12 months from entitlement start to ready-to-issue permits and about 12 months to build, followed by home-by-home sales; these are estimates, not commitments. Interests in a private project LLC are illiquid and subject to transfer restrictions, so plan on holding for the full term or longer.

Each project is its own LLC, and investors receive a Schedule K-1 for that LLC each year. How the income and any deductions affect you depends on your own situation, so review it with your tax advisor.

SB 684, expanded by SB 1123, lets a qualifying infill lot be subdivided into as many as ten fee-simple parcels through ministerial approval, with no discretionary hearings or CEQA review. Each new home sits on its own APN and sells individually to an owner-occupant with a conventional mortgage. We were among the first to execute it in Culver City, and the appraisals and construction financing we have seen are why it is a core strategy. See the SB 684 strategy.

It is where the principals built their record: studs-out rebuilds, expansions and new homes in the Hollywood Hills and on the Westside, including three sales that set neighborhood price records at closing. We take on single-family projects in Class A, A− and B+ neighborhoods where we can add square footage and resell efficiently. See the luxury strategy.

A value-add investment improves something that already exists, such as a remodel or expansion of an under-improved home. An opportunistic investment creates something that does not exist yet, such as entitling a lot and building new homes on it. Opportunistic projects carry more execution risk and typically take longer; our strategies page shows where each of ours sits.

Los Angeles infill: the Westside (Culver City, Santa Monica, Mar Vista, Westchester and nearby), Hollywood and the Hills, and the Valley from Studio City to North Hollywood. SB 684 projects focus on flat Westside neighborhoods. Agents and owners can see our full buy box on the Submit a Deal page.

Local operators underwrite against submarket-level knowledge rather than citywide averages — which streets carry a premium, how a specific planning department behaves, what a build actually costs in that neighborhood. As a real estate syndication and development firm, we also do the work in-house: the same principals source, entitle, build and sell, which is how a plan holds when a project moves.

Development carries real risk: construction costs can rise, schedules can slip, approvals and financing can take longer than planned, and homes can take longer to sell or sell for less than expected. Investors can lose some or all of their capital. Each offering's documents describe the risks for that project; see also our risks & disclosures.

The completed projects were developed by the principals through Thornton Development Group and affiliated companies, which are separate from Assemble Capital. They were not Assemble Capital offerings and did not involve Assemble Capital investors. They show what the principals have built, not what any Assemble Capital offering has returned.

Yes. Assemble Capital's first project, The Gonzaga Residence in Westchester, sold in 2026 for $2,700,000. Investor-level results are reported privately to that project's investors.

Our projects are private offerings, so we keep performance figures and offering terms for one-on-one conversations with qualified investors rather than publishing them. Request a conversation and we will walk you through the record and how a specific project is structured.