Real estate · Exchange by Taidou

Unit type	Units	In-place	Market	Occ.
1BR · 612 sf	128	$1,640	$1,710	95.3%
2BR · 940 sf	142	$2,120	$2,205	93.7%
3BR · 1,210 sf	42	$2,680	$2,790	92.9%

On the desk

Browse, underwrite, commit, collect.

Built from sponsor data rooms, third-party appraisals and property-management rent rolls. Blank where nothing supports a figure.

HomeReal estateBrowse+⌘K search · Elena M.

Filter

⤢ ⋯

Type

MultifamilyIndustrialMixed-useStorageBTROfficeRetail

Strategy

CoreCore-plusValue-addDevelopment

Market

SoutheastTexasMountainNortheastMidwest

Cap rate

5.5%7.5%

Minimum

$100k$250k$1M

Alert on new deals

Dealssponsor data rooms

⤢ ⋯

14 open vehicles · 212 listed assets · sorted by target IRR

Open to commitSecondary LP interestsListed assets

Property	Sponsor	Price	Cap	Target IRR	Closes
Harbor Square Value-add · Charlotte, NC	Harborline Capital	$71.5M	6%	17.5%	Open	Open
Meridian Lofts Core-plus · Brooklyn, NY	Claridge & Mott	$96.0M	5.3%	13.2%	12 Nov	Open
Ridgeway 44 Logistics Core · Fort Worth, TX	Ridgeway Industrial	$58.2M	6.7%	15.1%	Open	Open
Stillwater Storage · Phoenix IV Value-add · Phoenix, AZ	Stillwater Storage Partners	$24.6M	6.5%	18.8%	30 Oct	Open
Cedar Commons · Build-to-rent Development · Nashville, TN	Harborline Capital	$64.0M	—	19.5%	15 Dec	Open
Lakeside Office · Tower B Opportunistic · Minneapolis, MN	Claridge & Mott	$41.0M	6.1%	11%	Secondary	Open
Pinecrest Village II Core-plus · Raleigh, NC	Harborline Capital	$38.0M	5.8%	14.0%	20 Nov	Open
Gateway Crossing Logistics Core · Dallas, TX	Ridgeway Industrial	$112.4M	6.4%	13.6%	Open	Open
Stillwater Storage · Mesa II Lease-up · Mesa, AZ	Stillwater Storage Partners	$19.8M	6.6%	17.9%	8 Dec	Open

Cap rates by market · sourced transactions · 12m

Charlotte

Nashville

Dallas–FW

Phoenix

Brooklyn

Multifamily

5.9

5.7

6

6.2

5.2

Industrial

6.6

6.4

6.7

6.5

5.8

Storage

6.4

6.3

6.6

6.5

6.1

Selected · Stillwater Storage · Phoenix IVSourced

⤢ ⋯

SponsorStillwater Storage Partners

StrategyValue-add · lease-up

Price · cap$24.6M · 6.5% (stabilised)

Target IRR · CoC18.8% · 5.9%

Equity · min$10.5M · $250k

Closes30 Oct 2026

Fit · mandateFits · Orrin Ventures LLC

Raise progress

$6.2M committed · 7 LPs$10.5M target

Data room · 4 of 11 documents

Offering memorandum

Sponsor · Sep 26

Rent roll · 30 Sep

Property manager

Appraisal · Aug 2026

Third party

Sponsor model · v3

Modeled

Sponsor track9 storage deals · 2.0× · 0 losses

DebtTerm sheet · 57% LTV · 6.10% · rate cap

Open dealUnderwriteWatch

Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%

Reference prices · 16 of 3,109 on tapeProvenance onTue 14 Oct 2026 · 09:41 ET

Browse deals

Open vehicles, secondary LP interests and listed assets; cap rates by market.

HomeReal estateStillwater IVUnderwriting+⌘K search · Elena M.

InputsModeled

⤢ ⋯

SponsorYour caseDownside

Purchase price

$24,600,000

Going-in cap · stabilised

5.1% · 6.5%

Rent growth

4.0% · 3.5% · 3.0% · 3.0% · 3.0%

Lease-up

88.5% → 92% by Q4 2027

Exit cap · year

6.25% · year 5

Debt

57% LTV · 6.10% · IO 2y

Fees

1.0% AM · 8% pref · 30% promote

Your overrides vs sponsor

Exit cap6.25% (sponsor 6.00%)

Rent growth · Y14.0% (sponsor 4.5%)

Lease-upQ4 2027 (sponsor Q2 2027)

Sponsor model inputs with your overrides; outputs are modelled and carry the Modeled tag when exported.

ReturnsModeled

⤢ ⋯

18.8%LP IRR · sponsor case

2.1×LP multiple

5.9%avg cash-on-cash

1.35×DSCR · year 2

Capital called $MDistributions $M · exit in Y5

Multiple at 6.75% exit1.8× · 15.9% IRR

Breakeven exit cap7.9% · at +3% rent

Downside · 2-year delay13.1% IRR · 1.7×

IRR sensitivity · exit cap × rent growthModeled

⤢ ⋯

5.75%

6.25%

6.75%

7.25%

Rent +2%

18.9

15.6

12.8

10.3

Rent +3%

21.4

18.8

15.9

13.3

Rent +4%

23.8

21.1

18.3

15.6

LP IRR % · base case in the sponsor deck: 6.25% · +3%

DSCR · rate × year

Year 1

Year 2

Year 3

6.10%

1.21

1.35

1.48

6.60%

1.14

1.27

1.4

Covenant 1.20× · rate cap at 6.60% expires Nov 2027

Sources & usesSourced

⤢ ⋯

Sources	$M	Uses	$M
Senior loan · 57%	14.1	Purchase price	24.6
LP equity	9.5	Closing costs	0.5
GP co-invest	1.0	Capex · lease-up	0.9
		Reserves · fees	0.6
Total	24.6	Total	26.6

Gap of $2.0M funded from operations in year 1 per sponsor model — flagged.

Acquisition fee1.0% · $246k · at close

Asset management1.0% of equity · $105k per year

Promote30% above 1.5× after 8% pref

Comparable sales · storage · PhoenixSourced

⤢ ⋯

Asset	Units	Price	Cap	Date
Desert Ridge Storage	980	$21.2M	6.4%	Aug 26
Camelback Self Storage	1,240	$29.8M	6.3%	May 26
Mesa Gateway Storage	1,050	$23.1M	6.6%	Feb 26
Sonoran Storage Center	860	$19.4M	6.5%	Nov 25

Implied value at 6.4% cap$25.0M · 1.6% above price

Price per unit$21,964 · comps $21,600–24,000

SourceCounty records · broker packages · sponsor

Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%

Reference prices · 16 of 3,109 on tapeProvenance onTue 14 Oct 2026 · 09:41 ET

Underwriting

Sponsor model with your overrides; IRR sensitivity; sources & uses; comps.

HomeReal estateHarbor SquareVehicle · HSQ Partners LP+⌘K search · Elena M.

Vehicle

HSQ Partners LPDelaware · 2024

LP equity

$25.2M31 LPs

Your interest

16.1%Orrin Trust II · $4.5M

Distributed to date

$2.3M9.2% of equity

Pref

8%then 70 / 30 after 1.5×

K-1 · 2025

Receivedrouted to CPA

Waterfall · projected at exit (2031)Modeled

⤢ ⋯

Sponsor model · exit at 5.75% cap · 2.1× LP multiple · 17.5% IRR

Your share at exit$8.6M · 1.9× net of promote

Hold remaining4.5 years · exit window 2030–31

InvestorsSourced

31 LPs⤢ ⋯

LP	Commitment	Share
Meridian Endowment	$5.0M	17.9%
Orrin Family Office Trust II	$4.5M	16.1%
Harborline GP co-invest	$2.8M	10.0%
Greyfell Capital	$2.0M	7.1%
Whitlock Family Trust	$1.0M	3.6%
26 other LPs	$9.9M	45.3%

TransfersGP consent · 2 secondary trades in 2026

Distributions by quarterSourced

⤢ ⋯

Called$25.2M · Jun 2024 · fully called

Distributed$2.33M · 9.2% · 8 quarters

DPI · TVPI0.09× · 1.32× (mark)

TermsSourced

⤢ ⋯

Asset management fee1.0% of equity

Acquisition fee1.0% · paid

Pref · promote8% · 30% over 1.5×

Hold5–7 years

ReportingQuarterly · 45 days

Governing lawDelaware

Key personsC. Harrington · I. Burke

GP removal75% LP vote · for cause

Side letters2 · MFN applies to you

Documents

⤢ ⋯

Document	Status
LP agreement · HSQ Partners	Signed
Subscription · Orrin Trust II	Signed
Amendment #1 · reporting cadence	Signed
Q3 2026 report	Data room
Appraisal · Aug 2026	Data room
Distribution notice · Q3 2026	New
Insurance certificate · 2026	Data room
K-1 · 2025	To CPA

Thread · # HSQ Partners1

⤢ ⋯

HI

Hannah ItoYesterday

Q3 distribution notice is in — $82,100 to Trust II on 28 Oct. Insurance renewal is quoting +9%; sponsor is running two more bids.

EM

Elena MarshYesterday

Thanks — booking the insurance line as a watch item. Can we get the other two bids before the 28th?

HI

Hannah ItoToday

Sponsor expects both by Friday. I will attach them to the deal room and the flag clears on its own.

Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%

Reference prices · 16 of 3,109 on tapeProvenance onTue 14 Oct 2026 · 09:41 ET

Vehicle page

LP interests, waterfall, calls and distributions, terms, documents, thread.

HomeReal estateDistributions+⌘K search · Elena M.

Distributions YTD

$1.9M+12%vs 2025

Next 90 days

$1.4M5 payments

Cash yield · T12

7.9%on equity

Capital calls due

$3.2MCedar Commons · 2 draws

Distributions by quarter · $MSourced

⤢ ⋯

Harbor SquareMeridian LoftsRidgeway 44Stillwater IVLakeside

Run-rate$7.4M per year · 7.9% on $44.6M equity

Growth+10.8% YoY · Harbor Square and Ridgeway renewals

ScheduleSourced

⤢ ⋯

Property	Amount	Date	Entity
Harbor Square	$0.51M	28 Oct	Trust II
Ridgeway 44	$0.48M	20 Oct	Ventures LLC
Meridian Lofts	$0.52M	31 Oct	Trust I
Stillwater · Phoenix IV	$0.17M	15 Nov	Ventures LLC
Lakeside Office	$0.12M	15 Nov	Trust I
Harbor Square	$0.49M	Paid 29 Jul	Trust II
Ridgeway 44	$0.46M	Paid 22 Jul	Ventures LLC

Capital calls

Vehicle	Amount	Due
Cedar Commons BTR LP · draw #7	$1.6M	5 Nov
Cedar Commons BTR LP · draw #8	$1.6M	10 Feb

By entityDerived

⤢ ⋯

Trust II · $0.93MVentures LLC · $0.62MTrust I · $0.31M

Trust IIHarbor Square · Cedar Commons · 2 vehicles

Ventures LLCRidgeway 44 · Stillwater IV

Trust IMeridian Lofts · Lakeside Office

Bank routingPer entity · verified · changes need 2 approvers

Net cash · next 12 monthsModeled

⤢ ⋯

Distributions less calls · cumulative · Cedar Commons draws in Nov and Feb

Expected distributions · 12m$7.6M

Expected calls · 12m$3.2M · Cedar Commons

Lakeside sale · if closed+$3.3M · Q2 2027 · not included

TaxDerived

⤢ ⋯

Depreciation passed through · 2025$1.14M

Taxable share of distributions31%

K-1s expected6 · Mar 2027

1031 candidatesLakeside Office (on sale)

CPAWhitlock & Co.

Estimated taxes · Q4$118k · due 15 Jan

State filingsNC · NY · TX · AZ · TN · MN

Cost segregationHarbor Square · Cedar Commons

Alerts4

⤢ ⋯

Watch

Lakeside Office · occupancy 71% · appraisal −6%

Repositioning plan · leasing update due Nov · 1d

Info

Harbor Square · Q3 distribution notice · $0.51M

Payable 28 Oct · Orrin Trust II · 2h

Info

Cedar Commons · construction 38% · on budget

Draw #6 approved · sponsor report · 3d

Watch

Stillwater IV · rate cap expires Nov 2027

Hedge decision · sponsor memo · 5d

Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%

Reference prices · 16 of 3,109 on tapeProvenance onTue 14 Oct 2026 · 09:41 ET

Distributions

Schedule by property and entity, net cash forecast, tax and K-1s.

Track records on record.

A sponsor profile carries realised multiples and IRRs by deal, reporting quality, open vehicles and the co-investors you already know.

HomeReal estateHarborline Capital+⌘K search · Elena M.

Harborline Capital✓ Verified sponsorMultifamily · Southeast

Charlotte, NC · founded 2011 · $1.25B AUM · 38 deals · 14 realised · 2 with Orrin

Realised multiple

2.1×

Realised IRR

18.4%

Loss ratio

0 of 14

Open vehicles

2

LPs on Exchange

61

Track recordaudited · realised deals

38 deals · 8 shown · * mark / projected⤢ ⋯

Deal	Vintage	Equity	Multiple	IRR	Status
Harbor Square	2024	$28.0M	1.3×*	17.5%*	Held
Cedar Commons · BTR	2026	$25.6M	—	19.5%*	Dev
Riverbend Flats	2019	$18.2M	2.4×	21.0%	Realised 2024
Oakmont Terrace	2018	$14.0M	2.0×	17.2%	Realised 2023
Pinecrest Village	2017	$11.5M	1.8×	15.9%	Realised 2022
Brookhaven Commons	2020	$16.4M	1.9×	16.8%	Realised 2025
Marsh Landing	2016	$9.8M	2.3×	20.4%	Realised 2021
Tidewater Apartments	2015	$8.2M	2.6×	22.1%	Realised 2020

Realised multiplesSourced

⤢ ⋯

14 realised · median 2.1× · none below 1.0×

Realised equity$127M across 14 deals

Average hold4.2 years

Distributions on time100% · 56 quarters

TeamReported

⤢ ⋯

CH

Caleb Harrington

Managing Partner

Connect

IB

Imani Burke

Partner · acquisitions

Connect

LF

Luis Ferraro

Partner · asset management

Connect

SQ

Sana Qureshi

CFO

Connect

DA

Devon Ashby

Head of investor relations

Connect

ML

Mira Lindqvist

Director · construction

Connect

Headcount24 · Charlotte · Nashville · Atlanta

Open vehicles

⤢ ⋯

Vehicle	Target	Closes
Cedar Commons BTR LP	$25.6M	15 Dec
Multifamily Fund III	$150M	Q1 2027
HSQ Partners LP · secondary units	$1.2M	Rolling

Minimum$250k · $100k for existing LPs

Next closeCedar Commons · 15 Dec · $5.6M remaining

Fund III strategyValue-add multifamily · Southeast · 12–16 assets

Reporting qualityDerived

⤢ ⋯

Quarterly reports on time38 of 38

Audited financialsYes · Thornfield LLP

AppraisalsAnnual · third party

Distribution variance vs plan+2.1% avg

Investor rating4.8 ★ (41)

Fee transparencyFull · ILPA template

Valuation policyAnnual appraisal · quarterly mark

Data room updatesWithin 5 days of each report

Last audit findingNone · FY2025

Co-investorsDerived

⤢ ⋯

+ 57 LPs on Exchange

Shared deals with you2

Mutual connections6

Co-investor	Deals	Committed
Meridian Endowment	3	$11.0M
Orrin Family Office	2	$8.6M
Greyfell Capital	2	$4.5M
Pellbrook Capital	1	$2.0M

Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%Quillon$4.25▲ +3.5%Aerolith$11.60▲ +1.2%Halvern Health$3.10▼ −1.8%Sablewood Energy$9.80▲ +0.6%Meridian Loom$3.60▲ +2.1%Corvid Labs$1.40▲ +6.9%Pellucid$5.20▼ −0.4%Tessaline$0.75— 0.0%Brightwater Labs$1.10▲ +1.0%Orison Mobility$8.20▼ −2.6%Fathomline$2.90▲ +0.8%Veridia$1.55▲ +4.1%Solenne$0.90▼ −3.3%Ironvale$14.30▲ +0.3%Nimbus Freight$2.40▲ +1.9%Cobalt Forge$1.75▲ +2.4%

Reference prices · 16 of 3,109 on tapeProvenance onTue 14 Oct 2026 · 09:41 ET

Harborline Capital

Multifamily · Southeast · Charlotte, NC

14 realised · 2.1× avg · 18.4% IRR

Verified

Ridgeway Industrial

Industrial · logistics · Sun Belt · Dallas, TX

21 realised · 1.9× avg · 16.1% IRR

Verified

Claridge & Mott

Mixed-use · urban infill · New York, NY

7 realised · 1.7× avg · 13.9% IRR

Verified

Stillwater Storage Partners

Self-storage · value-add · Phoenix, AZ

26 realised · 2.3× avg · 19.2% IRR

Verified

Sample sponsors for design; names and figures are fictional.

How it works

List → verify → open → commit → distribute.

01Sponsor listsProperty or vehicle, with the data room: OM, rent roll, appraisal, loan documents, model.

02Taidou verifiesAppraisal and rent roll reconciled to bank and property-management exports; every figure tagged.

03Deal opensMandate-matched investors see it; co-investors and existing LPs first where the sponsor says so.

04CommitSubscription from the page; entity, bank and accreditation already on file.

05Distribute & reportQuarterly reports, distributions to the right entity, K-1s routed to your CPA.

Bring a sponsor, or a deal

Real estate opens next to approved accounts. Sponsors list first.

Request access Sign in

Sponsor deals, with the numbers on the page.

Browse, underwrite, commit, collect.

Track records on record.

List → verify → open → commit → distribute.

Bring a sponsor, or a deal

One page shape for every private asset.

Sponsor deals, numbers on the page.

Graded, vaulted, traded on a book.