Crowd Street specializes in commercial equity investments, and offers both direct investments and funds.
Volume is good and they do a good job of focusing on sponsors that are adept at packaging portfolios to sell to institutional investors. The pools are very high quality, high yield, and offer fair liquidity terms.
Typical structure includes preferred return to investor (~8%) with equity kicker resulting in historical IRRs of 12-17%.
Sponsors are seasoned and offers HML funds as well.
Minimums are also high which prevents retail $$ from bidding yields down.
Advantages: Substantial and growing investment volume, no investor fees (unless investing in a fund with underlying fees).