Screen by screen, as one limited partner sees it. No download, no form.
This is the Solsten investor view for an example syndication: one office building, a general partner, three limited partners, five quarters of preferred return already paid. You are looking at it as one of the three investors.
Example data. The property is Innovation Plaza, the same example office building as the sample offering memorandum, now owned and reporting to its investors. Every name on this page is an example.
Five screens, in the order the investor meets them. Click any image to expand it.
An investor login is viewer access. It is not an editor seat and it does not count against the sponsor's plan. The landing page lists every portfolio where the investor holds an active position, with their own equity, distributions to date, projected remaining, and returns on that card. One investor, one position; no sponsor dashboard, no other investors.
The banner names the investor and the disclosure level the sponsor chose. Under it: equity, distributions received, projected remaining, preferred return paid and still accrued, NOI share, blended ownership, property count, the LP-slice IRR and equity multiple before the promote, and the projected NPV at the property discount rate. Two kinds of figure sit here, both computed from the sponsor's underwriting model. The distribution tiles are this investor's slice of the deal-level waterfall on operating cash. The IRR, equity multiple, and NPV tiles are the investor's pro-rata share of the property's cash flows including the projected net sale proceeds, before the promote.
Each row is a distribution the sponsor recorded: paid date, type, amount, the period it covers, and the variance against the projected amount the sponsor entered when recording it. Here the sponsor has recorded five quarterly preferred-return distributions, each at its projected amount, so the variance column reads zero.
This is the part a portal cannot do. The projected operating distributions come out of the same engine that underwrote the property: rent roll, expenses, recoveries, debt service, reserves, and the GP/LP waterfall. The total projected less what has already been paid equals the projected remaining tile above. The projected sale is not in this table; it is carried in the IRR, equity multiple, and NPV tiles. When the sponsor changes the model, this table changes with it.
The sponsor picked Line Items for this portfolio, so the investor sees per-property operating context: their ownership and equity in each property, their NOI share, occupancy, and the cap rate on estimated market value. At Summary Only these columns are hidden. At Full the portfolio operating statement is added below.
The eleven figures on the position screen, in the investor's terms.
The capital this investor contributed, as the sponsor entered it on the investor record.
The sum of distributions the sponsor has recorded as paid to this investor.
Total projected operating distributions from the waterfall, less what has already been paid. The projected sale is not included.
Paid is the recorded distributions tagged as preferred return. Accrued is the projected unpaid preferred return still owed.
Net operating income weighted by this investor's ownership. Hidden at the Summary Only level.
The investor's equity share across the portfolio, and how many properties carry their position.
The annualized return on this investor's pro-rata share of the property's cash flows, including the projected net sale proceeds, before the promote is applied. The whole-deal IRR lives on the property's Reports page.
The investor's pro-rata share of the property's cash flows, including the projected sale and the return of capital, divided by their equity, before the promote. The timeline above holds operating distributions only, so it does not multiply out to this figure. The cash-on-cash yield sits under it.
This investor's pro-rata share of the property's cash flows, including the projected sale, discounted at the blended property discount rate from the model.
The sponsor previews any investor's page, picks how much each portfolio discloses, and sees the fund-level split the investors never do.
Every investor row in the portfolio has a Preview View button. The sponsor sees the investor page exactly as the server would scope it for that investor, with a banner naming who is being previewed and an Exit Preview button. No second login, no guessing what the invite will show.
Org members always keep full visibility of their own portfolio regardless of the disclosure setting. The setting applies to external investor logins.
Summary Only
Equity, NOI share, blended ownership, property count, and a property list with the investor's ownership and equity. No occupancy, cap rate, or per-property NOI.
Line Items
Adds NOI share, occupancy, and cap rate per property. This is the level shown in the walkthrough above.
Full
Adds the portfolio operating statement below the property table.
On the sponsor's side of the same portfolio: total equity across the investors, total distributable operating cash by year, how the waterfall splits it between the GP and the LPs, how much of the LP share is preferred return, and a per-investor table with total distributed and the post-promote equity multiple. In this example the promote first reaches the GP in 2030. Both tables are operating cash only; the projected sale is not in them, which is why the per-investor multiple here sits below the investor's own pre-promote multiple above.
Investors get their slice of this table as the projected timeline on their own page. The GP column, the other investors, and the split itself stay on the sponsor side.
Honest scope, so you can decide quickly.
The investor view is a login rendered from the live model. Solsten does not produce a per-investor PDF today.
Solsten records the distribution you paid. It does not execute wires or capital calls.
No subscription documents, no accreditation workflow, no K-1 delivery. Your attorney and administrator keep those.
No. The investor report is a login, not a document. The limited partner signs in and the page is rendered from the sponsor's live model, so it is current every time they open it. Solsten does not generate a per-investor PDF statement today. Its PDF outputs are deal-level documents: the offering memorandum, the JV packet, and the investment report.
No. Every screenshot shows an example syndication seeded for product screenshots: one property, Innovation Plaza, the same example office building used on the sample offering memorandum page, with an example general partner and three example limited partners. The figures are what the engine computes from that example model.
No. The investor view is scoped to the requesting investor on the server, not hidden in the browser. The investor sees their own equity, their own distribution history, and their own projected returns. GP fees, carry, acquisition costs, waterfall internals, and other investors' positions are never included in an investor response.
From the same underwriting model the sponsor used to buy the property. The engine runs the rent roll, expenses, recoveries, debt service, and reserves, then the GP/LP waterfall on operating cash, and the projected distribution timeline is the investor's slice of that result by year. The IRR, equity multiple, and NPV tiles are the investor's pro-rata share of the property's cash flows including the projected sale, before the promote. Distributions the sponsor records as paid sit next to the projection, with the variance against the projected amount the sponsor entered.
Three disclosure levels per portfolio. Summary Only shows the investor their equity, NOI share, blended ownership, and a simple property list. Line Items adds per-property NOI share, occupancy, and cap rate. Full adds the portfolio operating statement. The sponsor can preview the exact page any investor will see before sending the invite.
Portfolios and investor logins are included from the Starter plan ($99/month, 1 portfolio) and the Professional plan ($179/month, 3 portfolios). Investor logins never count as editor seats.
Investor reporting for small sponsors
How the login works, the four steps from underwriting to the quarterly distribution, and what is never in an investor response.
Waterfall distribution modeling
Preferred return, catch-up, and promote tiers, the engine behind the projected timeline.
The portfolio behind the investor login
Ownership-weighted KPIs, a combined operating statement, and the fund-level waterfall across every property.
The same building before the acquisition
The sample offering memorandum for Innovation Plaza, every page viewable online.
Underwrite the deal, set the waterfall, add your investors, record each distribution as you pay it. Their page builds itself from your model.
No credit card required. Investor logins from $99 a month.