Open Door Capital: Verified Investor Reviews on Invest Clearly

The multifamily asset class is facing serious headwinds, particularly in the Sunbelt markets. These challenges aren't unique to us. Across the industry, operators have been dealing with an unprecedented rise in interest rates—largely the result of aggressive fiscal policy in response to a once-in-a-lifetime pandemic. At the same time, we've seen surging insurance premiums, rising property taxes, and an overwhelming wave of new supply that’s flattened or even reversed rent growth in many markets. At the property you’re invested in, we’ve managed to maintain strong occupancy and have grown both revenue and NOI during our hold period to near underwriting targets. However, local cap rates have expanded by 1-2% during that same time, more than offsetting those gains and putting downward pressure on valuations beyond what anyone could have underwritten. Underperforming properties represent a small minority of our overall portfolio, but we’ve taken major operational and company-wide steps in response: - We’ve significantly slowed acquisitions since the headwinds began, including no new acquisitions in 2025—not because we can't, but because we want to maintain strategic focus on the assets already under management - We’ve relentlessly explored creative solutions to protect asset performance—though some were ultimately disrupted by last-minute legislative changes. - We continue to open all major decisions to investor votes, because transparency and alignment matter more now than ever. We know it's disappointing to be in a deal that doesn't go as planned. Please know we’re doing everything in our power to protect and preserve assets. If you have questions, we're always here to talk things over and we’ll keep sharing updates every step of the way.

We understand how concerning paused distributions can feel, but it's important to note that paused distributions aren’t always a sign of distress. In many cases, we pause as a proactive, strategic decision (to preserve capital, reinvest in the asset, or position the fund to weather market headwinds, etc). We'd love to talk do you about your specific investments and give you more detail into the strategy behind the decision and what we expect moving forward. Feel free to reach out at any time at investors@odcfund.com.