Cadre logo

Cadre

Institutional-quality commercial real estate

real estate
Founded 2014Regulation Reg D
Min Investment
$25K
Target Return
10–18%Annualized
Annual Fee
1.5%of AUM
Liquidity
3–7 years
Accredited
Yes

Pros & Cons

Pros

  • Goldman Sachs backed
  • Institutional quality
  • Secondary market

Cons

  • $25K minimum
  • Accredited only
  • High carry fee
01

The Brief

MoneyMade Verdict

Cadre is one of the most credible institutional-grade commercial real estate platforms available to accredited investors, with a reported 18.2% historical IRR and $4.3 billion in total transaction volume — but its $25,000–$50,000 minimums, multi-year hold periods, and unguaranteed liquidity make it a poor fit for anyone who can't lock up capital for the long term.

Cadre is a New York-based commercial real estate investment platform founded in 2014 by Ryan Williams, Jared Kushner, and Josh Kushner — the last of whom is no longer actively involved. The company specializes in institutional-grade, value-added commercial real estate investments for accredited investors, with a focus on multifamily, industrial, office, and hospitality properties in gateway U.S. markets. As of 2024, Cadre has facilitated over $5 billion in cumulative real estate transaction volume and reports a historical net IRR of approximately 18.2% on exited deals — a track record that places it among the better-performing crowdfunded real estate platforms when measured against sophisticated institutional benchmarks.

The platform offers three main products: individual deal investments (single-property opportunities with minimums typically in the $25,000 to $50,000 range), diversified funds pooling capital across multiple properties, and a more recent Cadre Direct Access Fund. All investments are structured as LLC interests where investors own a pro-rata share of the underlying real estate, with hold periods typically running 3 to 7 years before disposition. Cadre charges a 1.5% annual management fee plus 20% performance fees on returns above a preferred return hurdle — fee structures that are in line with institutional private equity but meaningfully higher than platforms like Fundrise or Arrived Homes. Exits occur when the underlying property is sold; there is no guaranteed secondary market, though Cadre has occasionally offered secondary trading opportunities to enable partial exits before full deal maturity.

02

Target Projection

If the 1018% target is achieved every year, net of fees

Target low · 10%

$22,610

Target mid · 14%

$32,473

Target high · 18%

$46,053

Reality checkThis projection assumes the target return range is achieved every single year, net of fees. Real-world returns vary significantly — Cadre's actual history includes years of negative returns. Target ranges describe what the platform aims to achieve, not guaranteed outcomes. Past performance does not guarantee future results.
03

The Cost of Fees

InvestmentHorizon
What a 1.5% annual fee actually costs over time.$10,000 · 10 yr · 14% gross return
$9K$19K$28K 0yr2yr4yr6yr8yr10yr
Value after fees
Fees paid (cumulative)
Value if fees were 0%

Gross ending value

$37,072

Net ending value

$32,473

Total fees paid

$4,599

04

Head-to-Head

PlatformMinTarget ReturnAnnual FeeLiquidityAccredited
Cadre logoCadre$25K10–18%1.5% AUM + 10% carry3–7 yearsYes
Prologis REIT logoPrologis REIT3–5% dividend yieldBrokerage commissionDaily (NYSE)No
STAG Industrial logoSTAG Industrial4–5% dividend yieldBrokerage commissionDaily (NYSE)No
Nuveen Real Estate logoNuveen Real Estate4–8%Expense ratioDaily (REIT)No
Doorvest logoDoorvest8–12%Management fee5+ yearsNo
06

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