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Good morning, Sunil
Thursday, July 23 · 3 active funds · 248 investors
Assets under management
$214.6M
▲ 4.2% vs. last quarter
Committed capital
$128.0M
across 3 funds
Uncalled capital
$31.4M
$8.2M callable this quarter
Distributed (ITD)
$42.9M
DPI 0.44x · TVPI 1.38x
Capital position
all funds · inception to date$31.4MUncalled
$5.1MCalled · unpaid
$91.5MFunded & deployed
$42.9MDistributed
Active funds
View all funds →| Fund | Vintage | Committed | Funded | Net IRR | Raise |
|---|---|---|---|---|---|
| Residential Growth Fund II Value-add multifamily · 506(c) | 2025 | $50.0M | $38.5M | 17.2% | |
| Austin Tech Park SPV Commercial · single asset · 506(b) | 2026 | $50.0M | $29.0M | — | |
| Sunbelt Industrial Fund I Industrial · core-plus · 506(b) | 2023 | $28.0M | $28.0M | 13.8% |
Pending actions
9 openCapital Call #7 · RGF II
3 investors overdue · $1.45M outstanding
Patricia Lang — accreditation review
506(c) verification letter awaiting compliance
Subscription docs — Hartwell Family Trust
Countersignature required (GP)
Q2 Distribution · Sunbelt Industrial
$2.30M calculated — awaiting approval
4 payments unmatched
Wire references need reconciliation
Investors
248 records · 212 active investors · 36 prospects
AllActiveProspectsOnboardingKYC review
Showing 8 of 248
| Investor | Type | Funds | Committed | Funded | Distributed | Compliance | Status |
|---|---|---|---|---|---|---|---|
| Patricia Lang p.lang@midwestcap.com | Individual | RGF II | $800,000 | $616,000 | $74,500 | Accreditation | Onboarding |
| Hartwell Family Trust Trustee: D. Hartwell | Trust | RGF II · ATP | $2,500,000 | $1,830,000 | $212,400 | Verified | Active |
| Bluestone Capital LLC Institutional · Class A | Entity | ATP · SIF I | $5,000,000 | $4,120,000 | $1,004,000 | Verified | Active |
| Marcus & Elena Reyes Joint account | Individual | SIF I | $350,000 | $350,000 | $96,200 | Verified | Active |
| Kessler Retirement IRA Custodian: Equity Trust | IRA | RGF II | $500,000 | $385,000 | $41,300 | Verified | Active |
| Anders Holt Referred by Bluestone | Individual | — | — | — | — | Not started | Prospect |
| Crestview Partners LP Family office | Entity | ATP | $3,000,000 | $1,500,000 | — | Verified | Active |
| Yuki Tanaka yuki.t@gmail.com | Individual | RGF II | $250,000 | — | — | KYC failed | Onboarding |
Patricia Lang
Investors / Patricia Lang · INV-0187
PL
Patricia Lang Onboarding
Individual · Accredited (verification pending) · Chicago, IL · Joined Mar 2026
Capital account
$652,300
Net IRR 15.9% · TVPI 1.21x
OverviewInvestmentsActivityDocumentsCommunicationsCompliance
Emailp.lang@midwestcap.com
Share classRGF II — Class A
Phone(312) 555-0164
Preferred return8.0%
Tax formW-9 on file
Mgmt fee1.50% committed
BankFirst Republic ····4410 (verified)
Side letterNone
Capital position
Residential Growth Fund II$144,000Uncalled
$40,000Called · unpaid
$616,000Funded
$74,500Distributed
Commitment $800,000 · Capital Call #7 due Aug 10 — $40,000 outstanding.
Onboarding checklist
86% complete✓Profile & entity informationMar 12
✓KYC identity verification — PersonaMar 13
✓AML screening — clearMar 13
!Accreditation (506(c)) — CPA letter in review4h ago
✓Subscription agreement — signedMar 18
✓W-9 & banking detailsMar 18
GP countersignature—
Residential Growth Fund II
Funds / RGF II · 506(c) · Vintage 2025 · 64 LPs
Committed
$50.0M
64 investors · 2 classes
Funded
$38.5M
$11.5M uncalled
Distributed
$4.8M
DPI 0.12x
Net IRR
17.2%
TVPI 1.24x · RVPI 1.12x
Entity structure
Edit structureFUNDResidential Growth Fund II, LP$50.0M committed
SPVAustin Residential SPV, LLC100% owned
ASSETGreen Valley Apartments · 220 units · Austin, TX$46.5M · 94% occ.
SPVDallas Residential SPV, LLC100% owned
ASSETLake View Apartments · 168 units · Dallas, TX$38.2M · 91% occ.
Share classes
Manage terms| Class | Pref | Mgmt fee | Promote | LPs |
|---|---|---|---|---|
| Class A Standard terms | 8.0% | 1.50% | 20 / 80 | 51 |
| Class B ≥ $2.5M commitments | 8.0% | 1.00% | 15 / 85 | 13 |
Waterfall (per class)
1
Return of capital
100% to LPs until contributions returned
2
Preferred return — 8%
Cumulative, compounded annually
3
GP catch-up
50/50 until GP holds 20% of profits
4
Carried interest split
80% LP / 20% GP thereafter (Class B: 85/15)
Fundraising — Austin Tech Park
Target $50.0M · Committed $32.5M · Funded $29.0M · Closes Sep 30, 2026
Raise progress
target $50.0M$29.0MFunded
$3.5MCommitted · unfunded
$6.2MSoft commitments
$11.3MRemaining to target
Invited18$—
Anders Holt
Northgate Family Office
S. Okafor
Viewed11$—
Delia Marsh
Ridgeline Ventures
Interested7$4.1M
Kessler Retirement IRA
~$500,000
M. & E. Reyes
~$350,000
Tovar Holdings
~$1,200,000
Soft commit5$6.2M
Crestview Partners LP
$3,000,000
J. Whitfield
$750,000
Halloran Trust
$1,000,000
Committed22$32.5M
Bluestone Capital LLC
$5,000,000
Hartwell Family Trust
$1,500,000
Crestview Partners LP
$3,000,000
Offerings
3 offerings · 2 open · 1 fully subscribed
| Offering | Exemption | Target | Committed | Min. invest | Target IRR | Status | Progress |
|---|---|---|---|---|---|---|---|
| Austin Tech Park Investment Commercial · Austin, TX | 506(b) | $50.0M | $32.5M | $50,000 | 15.0% | Open | |
| Residential Growth Fund II Multifamily · TX | 506(c) | $50.0M | $50.0M | $100,000 | 16.0% | Fully subscribed | |
| Sunbelt Industrial II Industrial · Southeast | 506(c) | $40.0M | $3.1M | $100,000 | 14.0% | Draft |
Capital Call #7
Capital Calls / RGF II · Purpose: Green Valley — Phase 2 renovation · Due Aug 10, 2026
Call amount
$4.00M
8.0% of commitments
Received
$2.55M
41 of 64 investors paid
Outstanding
$1.45M
3 overdue · 20 pending
Days to due
18
Notices sent Jul 10
Investor allocations
Validated against uncalled commitmentsExport CSV| Investor | Class | Commitment | Amount due | Received | Outstanding | Status |
|---|---|---|---|---|---|---|
| Bluestone Capital LLC | B | $5,000,000 | $400,000 | $400,000 | — | Paid |
| Hartwell Family Trust | A | $2,500,000 | $200,000 | $200,000 | — | Paid |
| Patricia Lang | A | $800,000 | $64,000 | $24,000 | $40,000 | Partial |
| Kessler Retirement IRA | A | $500,000 | $40,000 | — | $40,000 | Pending |
| Tovar Holdings | A | $1,200,000 | $96,000 | — | $96,000 | Overdue 2d |
| J. Whitfield | A | $750,000 | $60,000 | — | $60,000 | Overdue 2d |
Q2 2026 Distribution
Distributions / Sunbelt Industrial Fund I · Source: operating income + partial refinance
Distributable amount
$2.30M
Net of $105,000 mgmt fee offset
Status
Awaiting approval
Draft → Approved → Processing → Paid
Recallable portion
$0.40M
Restores uncalled commitments
Waterfall calculation
View per-investor breakdown1$400,000
Return of capital
Recallable · flagged to restore uncalled
2$1,120,000
Preferred return — 8%
Accrued through Jun 30 · fully satisfied
3$280,000
GP catch-up
50/50 to 20% of profits
4$500,000
Residual split 80 / 20
LP $400,000 · GP promote $100,000
Return of capital 17%Preferred return 49%Profit 34%
Largest payouts
38 investors| Investor | RoC | Pref | Profit | Total |
|---|---|---|---|---|
| Bluestone Capital LLC | $54,300 | $152,100 | $67,900 | $274,300 |
| Crestview Partners LP | $32,600 | $91,200 | $40,700 | $164,500 |
| M. & E. Reyes | $7,600 | $21,300 | $9,500 | $38,400 |
| Hartwell Family Trust | $6,500 | $18,200 | $8,100 | $32,800 |
| ＋ 34 more investors | $1,690,000 | |||
Character carries to capital accounts, statements, and DPI. GP promote of $100,000 records to carried-interest tracking.
Investor Portal
What Patricia Lang sees — white-labeled, read-only preview
Welcome back, Patricia
Your portfolio with Meridian Capital Partners
Current value
$652,300
Net IRR 15.9% · TVPI 1.21x
Contributed / Committed
$616K / $800K
$144,000 remaining commitment
Distributions received
$74,500
Last: $12,400 on Jun 28
Capital Call #7 — $40,000 due August 10
Residential Growth Fund II · Green Valley Phase 2 renovation · $24,000 already received
Your investments
| Investment | Contributed | Value | Distributed |
|---|---|---|---|
| Residential Growth Fund II Class A · since Mar 2026 | $616,000 | $652,300 | $74,500 |
Recent documents
All documents✓Q2 2026 Capital Account StatementJul 15
✓Capital Call Notice #7Jul 10
✓2025 Schedule K-1Mar 30
✓Subscription Agreement (executed)Mar 18