Real Estate Platform Comparison· Updated July 15, 2026

CrowdStreet vs. DiversyFund 2026 Real Estate Investing Comparison

A side-by-side breakdown of returns, liquidity, fees, and trustworthiness to help you decide where to invest your money.

★ Our Pick CrowdStreet logo

3.0

CrowdStreet is a credible way for accredited investors to access vetted commercial real estate deals, but $25,000 minimums, sponsor-driven fees, and 3–10 year holds put it out of reach for most retail investors. The 2022 Nightingale fraud case is also a sobering reminder that sponsor risk on crowdfunding platforms is real.

1.5

DiversyFund marketed a $500-minimum, non-accredited growth REIT that reinvested all cash flow instead of paying regular dividends. The product you may remember no longer exists for new investors: the SEC permanently suspended the second fund's Regulation A exemption in June 2023 (a settled order with no fines and no admission of wrongdoing), the original fund's SEC filings show mounting losses and minimal distributions ($11,822 paid to all investors in the first half of 2025), and a shareholder lawsuit continues with three surviving claims after a June 2025 ruling. The company now markets a separate accredited-only fund. Existing investors are effectively waiting on asset sales with no redemption option.

At a Glance

CrowdStreet vs. DiversyFund, Key Stats

$25,000Minimum$500 (historical, closed)

3–7 years typical (can extend to 10+)Holding PeriodIndefinite: no redemption program, investors wait for asset sales

Unavailable, no secondary marketEarly WithdrawalN/A: there has never been an early withdrawal option

Per project (typically quarterly)Rent PayoutMinimal (SEC filings show $525,872 paid in all of 2024 and $11,822 in H1 2025 across the entire investor base)

~18.3% historical IRR before fees on realized dealsAvg. ReturnsN/A for new investors; REIT I reported a $7.9M net loss in 2024 and a $2.4M net loss in H1 2025 per SEC filings

Pros & Cons

What each platform does well and poorly

Institutional-quality commercial deals
CrowdStreet curates commercial real estate deals: multifamily, industrial, hospitality, medical office, data centers, that retail investors typically cannot access directly.
Comprehensive deal documentation
Each offering ships with a detailed business plan, sponsor profile, financial model, and a project launch webinar. Documentation depth is among the best in the space.
Long track record
Founded in 2014, CrowdStreet has facilitated more than 600 commercial real estate deals worth over $4 billion since launch. The platform publishes performance data on realized deals and an investor portal that aggregates across the portfolio.
Vetted sponsors
CrowdStreet approves only a small percentage of sponsor applicants (publicly cited ~2–5%) and runs background, asset, and offering-terms reviews on each listing.
$25,000 minimum
Most offerings require a $25,000 commitment, which prevents proper diversification for all but high-net-worth investors. Spreading capital across 5+ deals (the typical recommendation) requires $125k+.
Accredited investors only
CrowdStreet is closed to non-accredited investors. You must verify $200k+ income ($300k for couples) or $1M+ net worth excluding primary residence.
Long lock-ups, sponsor-controlled exits
Hold periods are typically 3–7 years and CrowdStreet warns investors may be forced to hold for 10+ years. Sponsors decide when to sell. There is no secondary market.
Sponsor risk and the Nightingale case
In 2022–2023, Nightingale Properties offerings on CrowdStreet were the subject of a high-profile fraud case. In February 2025, Nightingale CEO Elie Schwartz pleaded guilty to wire fraud involving roughly $54 million raised from CrowdStreet investors. The episode forced the platform to overhaul its escrow controls and remains a key cautionary tale about sponsor risk on crowdfunding platforms.
Returns reported before fees
CrowdStreet's headline 18.3% historical IRR is calculated before sponsor fees. Sponsor fees can be substantial and vary deal-by-deal, materially reducing what investors actually receive.

Real multifamily assets in the portfolio
DF Growth REIT's SEC filings show roughly $66.8 million in rental real estate (net of depreciation) and $97.9 million in total assets as of June 30, 2025. Unlike some failed platforms, there is a real, reported portfolio behind investor shares.
Current SEC reporting
DiversyFund's funds still file semiannual and annual reports with the SEC, so investors can track the portfolio, cash position, and litigation status through primary sources rather than marketing updates.
Low minimum brought new investors into real estate
The original $500 minimum with no accreditation requirement made private multifamily investing accessible to people who had never had access before, and helped prove demand for low-minimum real estate products.
SEC matter resolved without fines or fraud findings
The SEC's June 2023 order permanently suspended REIT II's Regulation A exemption, but the settlement imposed no fines or penalties, and in August 2023 the SEC closed its investigation without recommending enforcement action against the company, its funds, or its principals.
The original product is closed and there is no way in or out
REIT II's offering ended in 2022 and its Regulation A exemption was permanently suspended in June 2023. The original growth REITs never offered a redemption program, so existing investors cannot withdraw; they are waiting on property sales that have not yet returned meaningful capital.
Mounting losses and a thin cash position
Per the fund's own SEC filing for the first half of 2025, DF Growth REIT reported a $2.38 million net loss for the period (after a $7.9 million net loss in 2024), an accumulated deficit of $26.3 million, and cash of $305,385, down from $1.95 million at the end of 2024.
Ongoing shareholder litigation
A shareholder suit filed in December 2022 against the funds, DiversyFund, Inc., and its principals was largely dismissed in April 2024, but after an amended complaint, a June 2025 ruling allowed three claims to proceed. The company disputes the claims and says it will contest them; the parties were preparing for discovery as of the fund's most recent filing.
Pivot to a high-minimum accredited fund
While original investors wait, DiversyFund now markets a separate fund for accredited investors with dramatically higher minimums. The $500-minimum retail product that built the brand is not available to new investors.

Deep Dive

Detailed comparison

What You're Investing In

Individual commercial real estate deals (multifamily, industrial, hospitality, office, retail, medical office, data centers, parking) and the C-REIT diversified fund. Most carry a $25,000 minimum.

Nothing, at the original entry point. The $500-minimum growth REITs are closed. The current DiversyFund offering is accredited-only with a much higher minimum.

Property Locations

Deals span the U.S. with concentration in growth-market metros: Texas, Florida, Arizona, Georgia, the Carolinas, Tennessee, and the Mountain West. Each project's location is disclosed in its offering documents.

Value-add multifamily properties in various U.S. markets, held directly and through joint ventures.

Expected Returns

CrowdStreet reports a historical realized IRR of approximately 18.3% before fees across exited deals. After typical sponsor fees, real net IRR is meaningfully lower and varies deal-by-deal. Some realized deals have lost all investor capital, a reality CrowdStreet discloses in its annual performance report.

For existing growth REIT investors, returns depend on eventual asset sales. The funds reinvested cash flow by design, so there was never meaningful income along the way, and recent filings show losses: a $7.9 million net loss in 2024 and a $2.4 million net loss in the first half of 2025 for DF Growth REIT, with an accumulated deficit of $26.3 million. Past performance does not guarantee future results.

Fees

Reported returns are gross of fees. Sponsors charge investors whatever they see fit, fees can exceed 20% of invested capital over the hold period. CrowdStreet itself charges sponsors 0.5–2% to list, indirectly built into deal pricing.

The funds paid management and other fees to affiliates of the sponsor, detailed in offering circulars and annual reports. The SEC's 2023 order cited inaccurate statements about fees on the DiversyFund website relative to REIT II's offering documents.

Liquidity

Hold periods are typically 3–7 years. CrowdStreet's own disclosures warn investors may be forced to hold for 10+ years if sponsors delay sale.

Indefinite. The growth REITs never had a redemption program, and the eventual liquidation has not yet returned meaningful capital to investors.

Who Can Invest

Accredited investors only. Verification of income ($200k+ individual / $300k+ couple) or net worth ($1M+ excluding primary residence) is required before investing.

No one, for the original product: the growth REITs are closed to new investment. The company's current offering is limited to accredited investors at much higher minimums.

The Verdict

Which is better, CrowdStreet or DiversyFund?

★ Our Pick

3.0

CrowdStreet is a credible option for high-net-worth, accredited investors who want curated access to institutional commercial real estate. Documentation is strong, the sponsor vetting is real, and historical IRRs look attractive. But the $25,000 minimum, sponsor-controlled exits, lack of secondary market, and the lessons of the 2022 Nightingale case make this a platform that demands sophistication and diversification. Retail investors and anyone looking for liquidity will find better options elsewhere.

Full CrowdStreet review →

1.5

DiversyFund is not an option for new retail investors, and that is the most important fact about it: the $500-minimum product that made the brand famous is closed, and its successor fund is accredited-only. Existing growth REIT investors hold shares in funds whose own filings show mounting losses, minimal distributions, thin cash, and unresolved litigation, with no redemption mechanism while they wait. Investors drawn to low-minimum real estate should study the structural lesson here before choosing any platform: products that defer all returns to a sponsor-controlled liquidation leave you with no income and no exit if the plan slips. Platforms with investor-controlled liquidity and regular distributions, such as Lofty, Fundrise, or Arrived, put structurally more control in investors' hands, though each has its own trade-offs worth comparing.

Full DiversyFund review →

Bottom Line

CrowdStreet scores higher (3.0/5) and edges out DiversyFund on our investment quality criteria.

Frequently Asked Questions

CrowdStreet vs. DiversyFund FAQ

Which is better, CrowdStreet or DiversyFund?

Based on our scoring criteria, returns, fees, liquidity, transparency, minimums, and track record, CrowdStreet (3.0/5) scores higher than DiversyFund (1.5/5). CrowdStreet is a credible way for accredited investors to access vetted commercial real estate deals, but $25,000 minimums, sponsor-driven fees, and 3–10 year holds put it out of reach for most retail investors. The 2022 Nightingale fraud case is also a sobering reminder that sponsor risk on crowdfunding platforms is real.

What is the minimum investment for CrowdStreet vs. DiversyFund?

CrowdStreet's minimum investment is $25,000. DiversyFund's minimum investment is $500 (historical, closed).

How do CrowdStreet and DiversyFund compare on liquidity?

CrowdStreet: Hold periods are typically 3–7 years. CrowdStreet's own disclosures warn investors may be forced to hold for 10+ years if sponsors delay sale. DiversyFund: Indefinite. The growth REITs never had a redemption program, and the eventual liquidation has not yet returned meaningful capital to investors.

What returns can investors expect from CrowdStreet vs. DiversyFund?

CrowdStreet reports average yearly returns of ~18.3% historical IRR before fees on realized deals. DiversyFund reports average yearly returns of N/A for new investors; REIT I reported a $7.9M net loss in 2024 and a $2.4M net loss in H1 2025 per SEC filings. Past performance does not guarantee future results.

One of the most flexible ways to invest in real estate

Start building generational wealth with Lofty

$50 minimums · Daily rent payouts · No lock-up periods · 24/7 exchange

View Properties

Real Estate Platform Comparison· Updated July 15, 2026

CrowdStreet vs. DiversyFund 2026 Real Estate Investing Comparison

A side-by-side breakdown of returns, liquidity, fees, and trustworthiness to help you decide where to invest your money.

★ Our Pick CrowdStreet logo

3.0

1.5

At a Glance

CrowdStreet vs. DiversyFund, Key Stats

$25,000Minimum$500 (historical, closed)

3–7 years typical (can extend to 10+)Holding PeriodIndefinite: no redemption program, investors wait for asset sales

Unavailable, no secondary marketEarly WithdrawalN/A: there has never been an early withdrawal option

Per project (typically quarterly)Rent PayoutMinimal (SEC filings show $525,872 paid in all of 2024 and $11,822 in H1 2025 across the entire investor base)

~18.3% historical IRR before fees on realized dealsAvg. ReturnsN/A for new investors; REIT I reported a $7.9M net loss in 2024 and a $2.4M net loss in H1 2025 per SEC filings

Pros & Cons

What each platform does well and poorly

Institutional-quality commercial deals
CrowdStreet curates commercial real estate deals: multifamily, industrial, hospitality, medical office, data centers, that retail investors typically cannot access directly.
Comprehensive deal documentation
Each offering ships with a detailed business plan, sponsor profile, financial model, and a project launch webinar. Documentation depth is among the best in the space.
Long track record
Founded in 2014, CrowdStreet has facilitated more than 600 commercial real estate deals worth over $4 billion since launch. The platform publishes performance data on realized deals and an investor portal that aggregates across the portfolio.
Vetted sponsors
CrowdStreet approves only a small percentage of sponsor applicants (publicly cited ~2–5%) and runs background, asset, and offering-terms reviews on each listing.
$25,000 minimum
Most offerings require a $25,000 commitment, which prevents proper diversification for all but high-net-worth investors. Spreading capital across 5+ deals (the typical recommendation) requires $125k+.
Accredited investors only
CrowdStreet is closed to non-accredited investors. You must verify $200k+ income ($300k for couples) or $1M+ net worth excluding primary residence.
Long lock-ups, sponsor-controlled exits
Hold periods are typically 3–7 years and CrowdStreet warns investors may be forced to hold for 10+ years. Sponsors decide when to sell. There is no secondary market.
Sponsor risk and the Nightingale case
In 2022–2023, Nightingale Properties offerings on CrowdStreet were the subject of a high-profile fraud case. In February 2025, Nightingale CEO Elie Schwartz pleaded guilty to wire fraud involving roughly $54 million raised from CrowdStreet investors. The episode forced the platform to overhaul its escrow controls and remains a key cautionary tale about sponsor risk on crowdfunding platforms.
Returns reported before fees
CrowdStreet's headline 18.3% historical IRR is calculated before sponsor fees. Sponsor fees can be substantial and vary deal-by-deal, materially reducing what investors actually receive.

Real multifamily assets in the portfolio
DF Growth REIT's SEC filings show roughly $66.8 million in rental real estate (net of depreciation) and $97.9 million in total assets as of June 30, 2025. Unlike some failed platforms, there is a real, reported portfolio behind investor shares.
Current SEC reporting
DiversyFund's funds still file semiannual and annual reports with the SEC, so investors can track the portfolio, cash position, and litigation status through primary sources rather than marketing updates.
Low minimum brought new investors into real estate
The original $500 minimum with no accreditation requirement made private multifamily investing accessible to people who had never had access before, and helped prove demand for low-minimum real estate products.
SEC matter resolved without fines or fraud findings
The SEC's June 2023 order permanently suspended REIT II's Regulation A exemption, but the settlement imposed no fines or penalties, and in August 2023 the SEC closed its investigation without recommending enforcement action against the company, its funds, or its principals.
The original product is closed and there is no way in or out
REIT II's offering ended in 2022 and its Regulation A exemption was permanently suspended in June 2023. The original growth REITs never offered a redemption program, so existing investors cannot withdraw; they are waiting on property sales that have not yet returned meaningful capital.
Mounting losses and a thin cash position
Per the fund's own SEC filing for the first half of 2025, DF Growth REIT reported a $2.38 million net loss for the period (after a $7.9 million net loss in 2024), an accumulated deficit of $26.3 million, and cash of $305,385, down from $1.95 million at the end of 2024.
Ongoing shareholder litigation
A shareholder suit filed in December 2022 against the funds, DiversyFund, Inc., and its principals was largely dismissed in April 2024, but after an amended complaint, a June 2025 ruling allowed three claims to proceed. The company disputes the claims and says it will contest them; the parties were preparing for discovery as of the fund's most recent filing.
Pivot to a high-minimum accredited fund
While original investors wait, DiversyFund now markets a separate fund for accredited investors with dramatically higher minimums. The $500-minimum retail product that built the brand is not available to new investors.

Deep Dive

Detailed comparison

What You're Investing In

Individual commercial real estate deals (multifamily, industrial, hospitality, office, retail, medical office, data centers, parking) and the C-REIT diversified fund. Most carry a $25,000 minimum.

Nothing, at the original entry point. The $500-minimum growth REITs are closed. The current DiversyFund offering is accredited-only with a much higher minimum.

Property Locations

Value-add multifamily properties in various U.S. markets, held directly and through joint ventures.

Expected Returns

Fees

Liquidity

Hold periods are typically 3–7 years. CrowdStreet's own disclosures warn investors may be forced to hold for 10+ years if sponsors delay sale.

Indefinite. The growth REITs never had a redemption program, and the eventual liquidation has not yet returned meaningful capital to investors.

Who Can Invest

Accredited investors only. Verification of income ($200k+ individual / $300k+ couple) or net worth ($1M+ excluding primary residence) is required before investing.

No one, for the original product: the growth REITs are closed to new investment. The company's current offering is limited to accredited investors at much higher minimums.

The Verdict

Which is better, CrowdStreet or DiversyFund?

★ Our Pick

3.0

Full CrowdStreet review →

1.5

Full DiversyFund review →

Bottom Line

CrowdStreet scores higher (3.0/5) and edges out DiversyFund on our investment quality criteria.

Frequently Asked Questions

CrowdStreet vs. DiversyFund FAQ

Which is better, CrowdStreet or DiversyFund?

What is the minimum investment for CrowdStreet vs. DiversyFund?

CrowdStreet's minimum investment is $25,000. DiversyFund's minimum investment is $500 (historical, closed).

How do CrowdStreet and DiversyFund compare on liquidity?

What returns can investors expect from CrowdStreet vs. DiversyFund?

One of the most flexible ways to invest in real estate

Start building generational wealth with Lofty

$50 minimums · Daily rent payouts · No lock-up periods · 24/7 exchange

View Properties

About Lofty

CrowdStreet vs. DiversyFund 2026 Real Estate Investing Comparison

CrowdStreet vs. DiversyFund, Key Stats

What each platform does well and poorly

Detailed comparison

Which is better, CrowdStreet or DiversyFund?

CrowdStreet vs. DiversyFund FAQ

Start building generational wealth with Lofty

CrowdStreet vs. DiversyFund 2026 Real Estate Investing Comparison

CrowdStreet vs. DiversyFund, Key Stats

What each platform does well and poorly

Detailed comparison

Which is better, CrowdStreet or DiversyFund?

CrowdStreet vs. DiversyFund FAQ

Start building generational wealth with Lofty