Arrived vs EquityMultiple 2026

Arrived: $100 for individual SFR and STR property series and the Debt Fund; $20,000 for the SFR Genesis Fund institutional product. EquityMultiple: $1,000 for Alpine Notes (short-term fixed-rate notes); $5,000 for the Ascent Income Fund; $15,000 for EMIP equity fund vehicles. The platforms serve fundamentally different investors — Arrived is built for low-minimum retail access, EquityMultiple is designed for accredited investors making meaningful commercial real estate allocations.

No. EquityMultiple is exclusively for accredited investors across all three product pillars — Alpine Notes, Ascent Income Fund, and EMIP equity funds. All offerings are Regulation D 506(b) or 506(c), which require accredited investor status. If you are not accredited, Arrived is the relevant platform — it operates under Regulation A Tier 2, which permits non-accredited investors subject to a 10% income or net worth investment cap.

EquityMultiple's marketing cites a 17% net IRR. AltStreet's analysis of the Q1 2025 track record PDF — sourced directly from EquityMultiple's own document — shows a 12.10% post-IC (post-Investment Committee) net IRR across 58 realized deals (2019–Q1 2025). The methodology behind the 17% figure is not explained in marketing materials. AltStreet uses 12.10% for comparative analysis. The track record also shows nine deals with negative returns, including Hudson Yards Luxury Condo II at -86.19% IRR in 23 months.

Yes — on its equity entities. Every Arrived equity entity (Core SFR, SFR Genesis, STR, STR 2, Homes 3, Homes 4, Homes 5, Seattle Fund) carries a going-concern qualification from auditor Stephano Slack LLC in FY2024 and FY2025 annual reports. The going-concern reflects the manager entity's reliance on continued Regulation A fundraising to cover operating expenses — not distress at the individual property level. Arrived's Debt Fund is the single exception: it holds a clean audit opinion, $70.3M in assets, and $3.55M net income in FY2025. EquityMultiple equity entities do not carry going-concern flags, but several Ascent Fund loans (Camp Creek, Holmdel, Beacon Hotel) have disclosed performance issues.

At the investor level — yes, investors do not pay a fee on Alpine Notes directly. However, the underlying lending structure carries a 4% annual management fee paid to EM Advisor LLC (an affiliated SEC-registered investment adviser), deferred and subordinated until the notes are repaid. This fee is disclosed on page 42 of the offering documents, not on the product page. EquityMultiple's own disclosure language acknowledges: 'The Management Fee may give EM Advisor an incentive to propose Company Investments that are riskier or more aggressive than would be the case in the absence of the Management Fee.' Investors should read the offering documents, not only the product page, before allocating.

Arrived issues 1099-DIV for all equity series and the Debt Fund — a significant operational advantage for retail investors. No K-1s, no tax extensions, no pass-through complexity. EquityMultiple issues Schedule K-1 for the Ascent Income Fund and EMIP equity funds (partnership structures), and 1099-INT for Alpine Notes (promissory notes). K-1s are promised within 120 days of fiscal year-end with 'commercially reasonable efforts' — qualifying language that has historically resulted in investors needing to file tax extensions. The real estate crowdfunding without K-1s narrative is a genuine Arrived differentiator.

Neither platform offers reliable near-term liquidity — both are fundamentally illiquid alternative investments. Arrived equity series offer quarterly Secondary Market trading windows via PPEX ATS after a 6-month hold, but volume and pricing are not publicly disclosed. The Debt Fund offers the same quarterly mechanism. EquityMultiple's Alpine Notes (3–9 months) are the closest to liquid — but early redemption forfeits all accrued interest unless reinvested in EM products. The Ascent Income Fund has a 1-year lockup then quarterly redemptions at GP discretion. EMIP equity funds are fully locked for the investment term. For investors who prioritize current income without principal access, the Arrived Debt Fund's 8.7% monthly yield is more relevant than the redemption window discussion.

Arrived Debt Fund: 8.7% current yield with monthly distributions, $100 minimum, clean audit, $10.00 stable NAV. This is the standout income product for retail investors between the two platforms. EquityMultiple's Alpine Notes offer competitive short-term rates (5.84%–7.72%) but are not monthly — they pay at maturity (3–9 months). The Ascent Income Fund targets 11–13% annualized but has averaged 8.39% since inception and pays quarterly, with Q2 2025 at 5.84% following the Camp Creek default. For consistent monthly cash flow at low minimum, Arrived Debt Fund is the stronger option. For accredited investors seeking commercial real estate income at scale, Ascent Fund is the relevant vehicle — with the performance and credit risk understood.

Between Arrived and EquityMultiple, only Arrived is available to non-accredited investors. More broadly, Arrived's $100 minimum and Regulation A structure make it one of the most accessible fractional real estate platforms in the market — alongside Fundrise, which also uses Regulation A. For investors with under $5,000 to allocate, Arrived's individual property series and Debt Fund are the practical choices. The 10% income/net worth cap under Reg A Tier 2 limits position sizing for non-accredited participants, but this is a regulatory constraint, not a platform policy.

Not hidden in the legal sense — all fees are SEC-filed. But the disclosure hierarchy is structured such that the most economically significant terms appear deep in offering documents rather than on product pages. The Ascent Income Fund's 20% carried interest after an 8% hurdle is in the 105-page PPM, not on the product page. The Alpine Notes' 4% EM Advisor fee is on page 42 of the offering document, not the homepage. The EMIP equity funds carry double management fee layers — EM Manager LLC's 1% annual servicing fee plus sponsor-level fees of 1.5%+ — that aggregate to approximately 2.5% annually before deal-level carry. Investors evaluating EquityMultiple from the marketing layer are missing material structural information. Read the PPMs.