Quote Originally Posted by CJ View Post
My understanding is most of these syndication deals are just set up to earn fees for the managers.

This is how DNZ started out wasn't it. A collection of single building syndication that weren't doing well that had to be combined, and management bought out to make it a good investment.

I was stick to the listed property investments if you want to get into commercial/industrial/retail but cant afford to go it alone. Very transperent, highly liquid. Most are PIE's I think so also tax efficient.
You are absolutely right if you refer to the syndicate properties promoted and managed by SPI Capital (www.nzspi.com). Majority of its syndicates have performed poorly. Two have already been sold with a big loss.
Another one (Hunua Syndicate) would be voted by shareholders for its fate. It stopped paying interest about 2 years ago.

It is easy to get into property syndicate, but difficult to exit. In Hunua's case it is not possible to exit.