Equity Residential (EQR) has long provided exposure to residential real estate through a publicly traded REIT structure. With publicly traded REITs, you own company shares representing a broader real estate portfolio rather than interests in specific properties, and share prices can move with broader market conditions as well as company and property performance.
The good news? A growing range of fractional real estate platforms provides another way to access real estate through property-specific ownership structures. These platforms can differ in property selection, ownership format, distributions, fees, and liquidity.
Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.
Key Takeaways
mogul provides property-specific access through investment-club interests associated with individually selected residential properties
Equity Residential has become Vivmark Residential following its combination with AvalonBay Communities
Arrived, Ark7, and Lofty use property-level structures that let investors select individual real estate offerings
Fundrise uses pooled private real estate funds across multiple underlying assets and strategies
RealtyMogul, CrowdStreet, Concreit, EquityMultiple, and Streitwise use different private-market or non-traded structures across commercial real estate, real estate debt, and diversified portfolios
How REITs and Fractional Platforms Differ
Equity Residential historically provided residential real estate exposure through a publicly traded REIT structure. When you buy shares in a public REIT, you own shares representing exposure to the company's broader real estate portfolio rather than an interest in a specific property.
The REIT structure: Publicly traded REITs generally provide:
Company-level exposure across a broader property portfolio
Public-market liquidity through exchange-traded shares
Property acquisition and disposition decisions managed at the company level
Share prices that can reflect both real estate performance and broader public-market conditions
Dividend distributions determined through the REIT structure
Property-specific fractional platforms use a different model. Depending on the platform and legal structure, your investment may be associated with an individual property or property-level entity. Tax treatment can also differ by ownership structure, including how rental property depreciation is handled.
1) mogul
Investment Model: Property-specific fractional residential real estate
Distribution Frequency: Generally monthly once a property is operational and has distributable net rental income
Average Annual Return: 18.8% average return, measured as IRR
mogul was founded by former Goldman Sachs real estate professionals. The team has more than $10 billion experience in real estate investing, and Less than 1% of reviewed properties pass the full diligence process.
mogul uses property-specific investment-club structures that allow you to review individual residential properties and select the assets represented in your portfolio.
Key Features
Property-specific selection: Members select individual residential properties
Institutional underwriting: Market research, property-level underwriting, inspections, acquisition analysis, and investment-committee review support property selection
Professional management: Property operations, leasing, maintenance, and tenant coordination are professionally managed
Monthly distributions: Distributable net rental income is generally processed monthly once a property is operational
Governance rights: Property-level interests can include proportional voting rights on supported decisions
Property-level reporting: Members receive visibility into the individual assets associated with their investments
mogul's fractional real estate model combines individual property selection with professional property operations and digital administration.
Fee Structure
mogul uses a one-time 5% capitalized platform fee in the initial property capitalization rather than a recurring AUM-based management charge.
Qualifying new members can also receive up to $10,000 loss protection for qualifying investments made during their first seven days, subject to the applicable promotion terms. Eligible coverage is funded from mogul's own balance-sheet capital.
2) Arrived
Investment Model: Fractional rental properties and real estate funds
Liquidity Structure: Monthly secondary-market windows for eligible individual-property shares, with separate redemption programs for certain funds
Arrived provides individual rental-property offerings alongside real estate fund products. Individual-property offerings let investors choose identifiable rental homes, while its funds pool capital across multiple assets.
Key Features
Individual-property selection: Investors can select specific rental-property offerings
Single-family rentals: Offerings include residential rental homes
Vacation rentals: The platform also includes vacation-rental properties
Secondary market: Eligible individual-property shares can be listed during monthly trading windows
Fund structures: Certain funds use separate quarterly redemption programs
Equity Residential Comparison
Arrived uses property-level and fund-based structures, while the former Equity Residential model provided public-market exposure through shares representing a company-wide apartment portfolio.
If you prefer to see the individual property associated with an investment, Arrived's property-level offerings use a different ownership framework from a publicly traded residential REIT.
3) Ark7
Investment Model: Fractional rental-property ownership
Distribution Frequency: Monthly
Ark7 provides fractional shares associated with individual rental properties. Its offerings include single-family and multifamily residential real estate.
Key Features
Property selection: Investors can review and select individual rental properties
Monthly distributions: Property distributions are made on a monthly schedule
Property-level entities: Individual offerings use separate property ownership structures
Secondary trading: Eligible shares can access a secondary-market structure after the applicable holding period
Equity Residential Comparison
Ark7 provides property-level fractional interests, while the former Equity Residential structure provided exposure through publicly traded company shares.
The distinction is primarily between selecting individual real estate offerings and holding shares representing a broader apartment portfolio.
4) Fundrise
Investment Model: Private real estate funds
Liquidity Structure: Most funds review liquidation requests quarterly
Fundrise provides pooled private real estate exposure through funds that can hold residential, multifamily, industrial, and real estate-backed income assets.
Key Features
Private fund structure: Capital is pooled across multiple underlying assets
Multiple property categories: Funds can include residential, multifamily, and industrial real estate
Quarterly liquidity process: Most funds review eligible liquidation requests quarterly
Portfolio-level exposure: Investors participate through fund interests rather than selecting individual rental homes
Equity Residential Comparison
Fundrise and the former Equity Residential model both provide portfolio-level real estate exposure, but they use different market structures. Fundrise primarily uses private funds, while Equity Residential used publicly traded REIT shares.
That difference affects how the investment is held, priced, and administered.
5) Lofty
Investment Model: Fractional property ownership
Distribution Frequency: Daily rental-income credits
Marketplace: Property-share marketplace
Lofty provides fractional interests in individual U.S. rental properties through property-level LLC structures. Its marketplace includes single-family, multifamily, vacation-rental, and commercial properties.
Key Features
Property-specific ownership: Each property is associated with its own LLC
Daily rental income: Rental income is credited on a daily schedule when a property is producing rent
Property marketplace: Property shares can be listed through Lofty's marketplace
Multiple property types: Offerings span residential and commercial categories
Equity Residential Comparison
Lofty provides property-level fractional interests and a marketplace for property shares. The former Equity Residential model provided public-market exposure through company shares representing its broader apartment portfolio.
The two structures therefore provide different levels of visibility into the underlying properties associated with an investment.
6) RealtyMogul
Investment Model: Private commercial real estate
Structures: Non-traded REITs, individual properties, and 1031 exchange offerings
RealtyMogul provides private-market commercial real estate through several structures, including non-traded REITs, individual property offerings, and 1031 exchange opportunities.
Key Features
Commercial real estate: Offerings can include multifamily, industrial, office, and other commercial property categories
Individual properties: Certain private placements provide access to specific real estate offerings
REIT structures: The platform includes non-traded REIT products
1031 exchanges: Certain offerings use structures designed for qualifying exchanges
Some private placements are limited to accredited investors. The SEC's accredited investor rules explain the financial and professional criteria used for that classification.
Equity Residential Comparison
RealtyMogul primarily provides private-market commercial real estate structures, while Equity Residential operated as a publicly traded apartment REIT before becoming part of Vivmark Residential.
The comparison is therefore between public company-level apartment exposure and private commercial real estate structures.
7) CrowdStreet
Investment Model: Private-market investments
Investor Type: Accredited investors
CrowdStreet provides accredited investors access to private-market offerings that include commercial real estate, private equity, private credit, and other alternative assets.
Key Features
Direct commercial offerings: Certain investments are associated with individual commercial real estate projects
Private funds: The platform also includes pooled private-market structures
Accredited-investor access: Platform offerings are intended for accredited investors
Offering-specific terms: Structure, holding period, and distribution schedules vary by investment
Equity Residential Comparison
CrowdStreet uses private-market structures, while the former Equity Residential model used exchange-traded REIT shares.
For readers comparing the two, the main distinction is between private offerings with deal-specific terms and public company shares representing a larger apartment portfolio.
8) Concreit
Investment Model: Managed private real estate portfolio
Distribution Frequency: Weekly dividends
Concreit provides a managed private real estate portfolio with strategies that can include real estate debt and income-producing property exposure.
Key Features
Managed portfolio: Capital is allocated across a managed real estate portfolio
Weekly dividends: Distributions are made on a weekly schedule
Multiple strategies: The platform uses fixed-income and property-based real estate strategies
Digital account access: Investors can review portfolio and asset-level information through the platform
Equity Residential Comparison
Concreit uses a managed private portfolio, while the former Equity Residential structure provided exchange-traded exposure to a large apartment REIT.
The models differ in portfolio construction, distribution cadence, and how ownership interests are administered.
9) EquityMultiple
Investment Model: Private commercial real estate and real estate credit
Investor Type: Accredited investors
EquityMultiple provides private real estate investments through common equity, preferred equity, debt, fund, and short-term note structures.
Key Features
Multiple capital structures: Offerings can use common equity, preferred equity, or debt
Accredited-investor access: Platform offerings require accredited-investor status
Individual and fund offerings: Structures can be tied to specific assets or pooled investments
Alpine Notes: The platform also offers short-term note products
Equity Residential Comparison
EquityMultiple provides private commercial real estate and credit structures, while Equity Residential historically provided public-market apartment REIT exposure.
The two models differ primarily in asset type, market structure, and offering-specific terms.
10) Streitwise
Investment Model: Non-traded commercial real estate REIT
Property Focus: Office and mixed-use commercial real estate
Streitwise operates a non-traded REIT that owns commercial real estate properties. Investor.gov explains how non-traded REITs differ structurally from exchange-traded REITs.
Key Features
Non-traded REIT structure: Shares are held outside a national securities exchange
Commercial properties: The portfolio includes office and mixed-use assets
Company-level exposure: Investors participate through the REIT rather than selecting individual property interests
Redemption structure: Share redemptions operate under the REIT's applicable redemption program
Equity Residential Comparison
Streitwise and Equity Residential both use REIT structures, but Streitwise is non-traded and focused on commercial properties, while Equity Residential historically traded publicly and focused on apartment communities.
How mogul Compares for Equity Residential Alternatives
When comparing different residential real estate structures, mogul provides property-specific access alongside institutional real estate experience, professional management, and an investment-club ownership model.
Institutional Real Estate Experience
mogul's founding team brings Goldman Sachs experience to residential real estate investing. The team has more than $10 billion in real estate investing experience, and Less than 1% of reviewed properties pass the full diligence process.
The property-selection process includes:
Property-specific selection based on market and property-level analysis
Institutional underwriting before properties advance through diligence
Professional management across supported rental strategies
No recurring AUM fees under mogul's current platform fee structure
Property-Specific Ownership Structure
mogul uses property-specific investment-club structures associated with individual residential properties. This gives members visibility into the assets represented in their portfolios.
The structure includes:
Property-specific interests associated with identifiable residential assets
Governance rights proportional to supported ownership decisions
Property-level reporting throughout the investment lifecycle
Monthly distributions once properties are operational and generate distributable net rental income
Members can review individual property information and underwriting before selecting the residential properties represented in their portfolios. The ownership structure provides a different model from company-level REIT exposure.
First-Year Loss Protection
Qualifying new members can receive up to $10,000 loss protection for qualifying investments made during their first seven days.
If the combined total return on those qualifying investments is negative after one year, mogul covers eligible losses of up to $10,000 using its own balance-sheet capital, subject to the applicable promotion terms.
The property analysis tools also provide property-level analysis for U.S. addresses.
Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.
Frequently Asked Questions
What changed with Equity Residential?
Equity Residential combined with AvalonBay Communities and became Vivmark Residential. If you are searching for Equity Residential alternatives, the relevant comparison is now between Vivmark's public REIT structure and other models such as property-specific fractional ownership, private real estate funds, non-traded REITs, and real estate debt.
What is the main difference between Equity Residential and fractional platforms?
Equity Residential historically provided company-level exposure through publicly traded REIT shares, while fractional platforms associate investments with individual properties or property-level entities. mogul uses property-specific investment-club interests, allowing members to select the residential properties represented in their portfolios.
How does liquidity differ across these real estate structures?
Public REIT shares trade on national exchanges, while private real estate platforms use their own liquidity structures. Arrived uses scheduled secondary-market windows for eligible property shares, Ark7 uses a secondary-market framework after the applicable holding period, Lofty operates a property-share marketplace, and private funds or non-traded REITs use their own redemption processes.
How can tax treatment differ between REITs and property-level structures?
Tax treatment depends on the entity and the investor's circumstances. Property-level partnership structures can allocate real estate tax items through partnership reporting, while REIT shareholders receive distributions through the REIT structure. The IRS provides general guidance on depreciation, rental income, and expenses for residential rental property, while each platform's legal structure determines the applicable reporting process.
Which alternatives let you select individual properties?
mogul, Arrived, Ark7, and Lofty all provide forms of individual-property selection. The structures differ, but mogul combines property-specific investment-club interests with institutional underwriting, professional management, monthly distributions once properties are operational, and a diligence process in which less than 1% of reviewed properties pass.