Three ways to invest alongside us.
Every vehicle we sponsor runs on the same discipline: buy the building right, execute the plan with our own people, and let the math decide. The difference is how involved, how concentrated and how long you want to be.
Joint venture
Horizon: per project plan. Co-invest on a single building you help select. Preferred return, then a profit split with the sponsor. Highest involvement, highest concentration. Our 2024 headquarters purchase returned 75% of partner capital at a 2026 refinance.
Single-asset LP
Horizon: 3 to 10 years. A passive limited partner position in one building with a written business plan, 6–8% preferred returns and a share of profits. You know exactly which roof you own.
AlphaDiv Real Estate Fund
Horizon: 5 to 20 years. Open-end, diversified across 23 Twin Cities properties, quarterly distributions, K-1 depreciation, dividend reinvestment and a 721 contribution program. The vehicle most of our investors choose.
Target returns and fund terms.
Sponsor targets. Dividend is the cumulative preferred return on unreturned capital under the Operating Agreement; the balance of the target is expected from unit-price appreciation as assets are leased, renovated, refinanced and sold. Targets are objectives, not guarantees.
Historical, Series A members since July 2022
| Net annualized return | 14.0% |
| Average cash yield, lifetime · trailing four quarters | 4.4% · 4.8% |
| Unit price, July 2022 / Sept 2026 | $1.00 / $1.39 |
| Net equity multiple on contributed capital | 1.36x |
Net of fees and carried interest, on a sale-at-9/30/2026-valuation basis. Past performance is not indicative of future results.
| Fund | AlphaDiv Real Estate Fund LLC, Minnesota LLC formed 2021; perpetual, open-end |
| Managing Member | CIG Holdings LLC dba Northstar Growth Companies; Mike Sowers, Manager |
| Securities | Series A Units; Rule 506(c); accredited investors only, verified |
| Minimum | $250,000, waivable by the Managing Member |
| Preferred return | 5% per annum, cumulative, on unreturned capital; 6% if enrolled in dividend reinvestment |
| Distributions | Quarterly, at Managing Member discretion after reserves |
| Liquidity | Redemption on notice, subject to a holding-period multiplier and Managing Member discretion |
| Leverage | Target 50–65% loan-to-cost; fund-level debt capped at 70% of AUM |
| 721 contributions | Accepted at then-current unit price; capital credited at net asset value |
Summary only. Governed by the Fourth Amended and Restated Operating Agreement dated July 1, 2026 and the Confidential Private Placement Memorandum, which control in all respects and contain risk factors and conflicts of interest that should be read in full.
The sponsor invests first.
Mike Sowers has committed more than $8.6 million of his own capital across CIG vehicles, including more than $4.5 million in AlphaDiv, where he holds one of the two largest Series A positions. Same units, same distributions, same downside.
Every acquisition is solved backward from a 20% project-level IRR and a minimum 4% dividend on equity within 18 months. Purchase price is what the plan can support, not what the seller is asking.
Investing with Commercial Investors Group.
What is AlphaDiv Real Estate Fund?
An open-end, perpetual-life private real estate fund sponsored by Commercial Investors Group and formed in Minnesota in 2021. It owns multi-tenant office, flex, industrial, multi-family and retail buildings in the Minneapolis–Saint Paul suburbs and accepts both cash investment and 721 contributions of property. Series A Units are offered under Rule 506(c) to verified accredited investors.
What is the minimum investment?
$250,000, waivable by the Managing Member. Many investors enter through a 721 contribution of a building rather than cash.
How are investors paid?
Quarterly distributions at the Managing Member's discretion after reserves, targeting a 5% annual preferred return on unreturned capital, or 6% if enrolled in dividend reinvestment. Investors also receive a K-1 with their share of depreciation. Targets are objectives, not guarantees.
Is AlphaDiv a REIT?
No. It is a Minnesota LLC taxed as a partnership. That is what makes the 721 contribution work and what passes depreciation through to investors on a K-1. It is not publicly traded and there is no daily liquidity.
How do I get my money out?
Redemption on notice, subject to a holding-period multiplier and Managing Member discretion. The fund is built for investors who intend to compound capital for a decade or more, not for short holds. The Operating Agreement in the data room sets out the exact terms.
What is the difference between the fund, a single-asset LP and a joint venture?
The fund is diversified across the whole portfolio with the lowest involvement. A single-asset LP is a passive position in one building with a written business plan. A joint venture is co-investment on a building you help select, with the highest involvement and concentration. Same operator, same discipline, different level of concentration.
How is Mike Sowers invested?
Mike has committed more than $8.6 million of his own capital across CIG vehicles, including more than $4.5 million in AlphaDiv, where he holds one of the two largest Series A positions. Investors are in the same units with the same distributions.
Tell Mike what you're looking for.
Accredited investors can request the AlphaDiv data room: Operating Agreement, PPM, quarterly reports, valuations and the full asset register. Every message goes to Mike directly.