Inland Long Island Residential DST

Matthew Fries is the sole named GP on an EDGAR filing with zero prior history, indicating this is either a debut fund from this manager or a first-time SEC filing from an existing operator; the 06b exemption (no public solicitation) combined with four unnamed GPs suggests a small, relationship-driven team raising from a closed network rather than building institutional infrastructure across multiple vintages.

Filing an amendment in June 2026 with $19M of $108M raised (17% committed) reflects mid-cycle capital collection during a period when Long Island residential real estate faces pressure from higher borrowing costs and inventory constraints—the amendment timing signals either a revised timeline, LP commitment pace slower than modeled, or changes to fund terms being communicated to existing investors.

Verify whether Matthew Fries or the unnamed GPs have prior residential DST or real estate operating history outside EDGAR; confirm the identity and roles of the four GPs before committing, as the filing provides no transparency on team depth, acquisition track record, or property management capability in the Long Island market.