Client Relationship Summary, CrowdStreet Capital, LLC

June 2022

Introduction CrowdStreet Capital LLC (“CrowdStreet Capital”, “we”, “our” or “us”) is a broker-dealer registered with the Financial Industry Regulatory Authority (“FINRA”) and a member of the Securities Investor Protection Corporation (“SIPC”). CrowdStreet Capital is a wholly-owned subsidiary of its parent company, CrowdStreet, Inc. CrowdStreet, Inc. offers investment opportunities on its website (the “Marketplace”). CrowdStreet Capital is under common control with CrowdStreet Advisors, LLC (“CrowdStreet Advisors”), a federally registered investment adviser. It is important for you to understand the differences between the types of products offered by CrowdStreet Capital and the fees and costs associated with those products. Free and simple tools are available to research firms and financial professionals at, which also provides educational materials about broker-dealers, investment advisers, and investing.
What investment services and advice can you provide me? CrowdStreet Capital offers brokerage services to accredited retail investors. Our primary business is providing accredited retail investors with an internet-based platform, the Marketplace, that offers private placement securities, specifically commercial real estate investment opportunities. These offerings are conducted pursuant to an exemption from registration, namely the private offering exemption of Section 4(a)(2) of the Securities Act of 1933 and the safe harbor provided under Rule 506 of Regulation D. These private placement securities are equity securities issued by entities (“Issuers”) in connection with real estate projects structured and managed by real estate developers and other real estate businesses (“Sponsors”) who list the offerings on the Marketplace. We also provide educational content for investors to learn about commercial real estate investing. While we provide a platform to invest in these opportunities, you make the ultimate decision regarding the purchase of investments. Generally, investors must invest a minimum of $25,000 in each investment opportunity offered on the Marketplace, though investment minimums do vary and may be increased or waived. You must be an accredited investor as defined in Regulation D of the Securities Act of 1933 to invest with us. CrowdStreet Capital is a placement agent. We do not hold custody of client assets, customer funds or securities, and do not accept discretionary authority. We will neither possess nor control any of the funds or securities in connection with the private placement offerings on our Marketplace. We do not employ a clearing firm. Funds and securities will be handled directly between the investor and the Sponsor. For more information about our offerings and services, please visit our website at

Questions to ask your Broker:

  • Given my financial situation, should I choose a brokerage service? Why or why not?
  • How do you choose investments to offer to me?
  • What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?
What fees will I pay? CrowdStreet Capital does not charge commissions to investors for their participation in an offering nor does it charge investors any fees for accessing or creating an account on the Marketplace. However, other fees may apply: (a) CrowdStreet Capital charges Sponsors due diligence and placement fees in connection with the private placement offerings, ranging from 1% to 5% of total offering size, and affiliates of CrowdStreet Capital charge Sponsors services and technology fees. Sponsors may pass these costs on to the Issuer. (b) Sponsors, their affiliates, and third parties charge fees and expenses related to the real estate project to the Issuer in pursuant to the governing documents for the Issuer. These fees and expenses charged to the Issuer reduce the Issuers’ proceeds available for distribution to investors, and therefore the amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. These fees vary and are described in the offering memorandum for each offering on the Marketplace. For additional information, please see the fees and expenses detailed on the Marketplace and the attached offering memorandum for each investment prior to participating in an offering.

Questions to ask your Broker:

  • Help me understand how these fees and costs might affect my investments.
  • If I give you $25,000 to invest, how much will go to fees and costs, and how much will be invested for me?
What are your legal obligations to me when providing recommendations? How else does your firm make money and what conflicts of interest do you have?

Your account with CrowdStreet Capital is self-directed and should you decide to participate in an offering on the Marketplace, you must be comfortable with investing your assets on your own. The offerings on our Marketplace and the Sponsors of the investment opportunities on our Marketplace undergo significant diligence by a team of financial professionals involved in analyzing the specifics of the offering and its Sponsor. These financial professionals are appropriately licensed with necessary industry licenses, such as a Series 79, and their relevant work is reviewed and ultimately approved by financial professionals with appropriate industry licenses and experience, such as the Series 24. We have a segregated Office of the Chief Investment Officer (the “Office”) which is responsible for the ultimate approval of both Sponsors and offerings on our Marketplace. However, the posting of an offering on the CrowdStreet Marketplace should not be construed as, and is not, a recommendation, endorsement, or affirmation that the offering is suitable for you. You must carefully review each offering to make an independent determination as to the suitability of the offering. Instances may arise where our interests and the interests of our affiliates conflict with your interests. Here are some examples and how we address them:

(1) CrowdStreet Capital and/or its affiliates often will be presented with investment opportunities that satisfy the investment objectives of multiple investors on the Marketplace, investment vehicles sponsored by or advised by our affiliates, and investment accounts advised by our affiliates. In instances where demand for these investment opportunities exceeds the allocation available to CrowdStreet Capital, we manage this potential conflict of interest by allocating those investment opportunities through an objective allocation policy.

(2) When you make an investment on the Marketplace you do not pay a direct fee to us. Instead, the Sponsor pays CrowdStreet Capital and/or its affiliates placement fees and other services fees. Indirectly, this compensation is used to fund our employee compensation, including employees of CrowdStreet Capital, which could create a conflict.

There can be no assurance that we will resolve any conflict of interest in a manner that is favorable to you. However, we have internal controls in place to monitor, mitigate, and disclose these issues should they materialize.

Questions to ask your Broker:

  • How might your conflicts of interest affect me, and how will you address them?
For additional information, please see Legal Documents and Important Disclosures.
How do your financial professionals make money? Our registered associated persons are largely paid via a salary plus the opportunity for performance-based or discretionary-based bonuses and may also receive stock options in the parent company. Some registered associated persons’ performance-based compensation is based on the amount of the placement fees received by CrowdStreet Capital. Unregistered associated persons are compensated via a salary and may also receive stock options in the parent company and discretionary-based bonuses.
Do you or your financial professionals have legal or disciplinary history? No. Visit for a free and simple search tool to research us and our financial professionals.

Questions to ask your Broker:

  • As a financial professional, do you have any disciplinary history? For what type of conduct?
Additional Information Additional information about our services can be obtained by visiting our website at or by contacting us at (888) 432-7693.

Questions to ask your Broker:

  • Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer?
  • Who can I talk to if I have concerns about how this person is treating me and my investments?