Uptown Apartments

Black Swan Historical Fund Updates

Q1 2026 Fund Update Webinar Replay

What to Expect When You Invest with Black Swan Real Estate

As part of our commitment to radical transparency and putting the needs of our investors first, here’s how we keep you informed:

First, we share regularly and openly. You can get real-time updates on what’s happening in the Black Swan portfolio— renovations, operations, refinances—by following us on Facebook, Instagram, and subscribing to our YouTube Channel. That’s where we share more informal, behind-the-scenes updates from the field, and it’s the quickest way to see progress as it unfolds.

Each week, we send an investor-focused newsletter with portfolio insights, market updates, and investor education. To be sure you receive it, add us to your contacts or move our emails into your primary inbox so future updates don’t get filtered out. The goal of our newsletter is simple: to help you make confident, well-informed decisions with your capital.

Every quarter, we host a live investor webinar where we walk through performance, renovations, economic conditions, and the decisions we’re making. You can attend live and ask questions in real time, or if you can’t join us, we email the replay, upload it to the Investor Portal, and share it on YouTube so it is easily accessible. We keep an archive of all our Fund Update Webinars at blackswanteam.com/updates.

Your secure investor portal blackswan.investnext.comis your home base. That’s where you’ll find your investment paperwork, quarterly reports, K-1 tax documents, distributions history, information on open offerings, and more. Everything tied to your investment is organized there and available to you at any time.

Finally, if you have questions that weren’t already addressed in an email, webinar, or the portal, you can reach out directly. We believe stewardship includes being accessible. You can email us or schedule a call with our team at blackswanteam.com/connect.

Read the latest fund updates below to see how your investments are performing, what progress we’ve made this quarter, and what’s coming next.

Q1 2026 Fund Update

Watch the Q1 2026 Fund Update Webinar for an update on all Black Swan Funds.

OR, download the full report to the left.

Watch the Q1 2026 Fund Update Webinar

Please note: this update is titled Q1 2026 rather than Q4 2025. Going forward, we are naming each fund update based on the quarter in which it is delivered, rather than the quarter being reflected on. This allows us to include the most current information, recent closings, and real time developments without holding updates for a later date. This is a simple update in naming convention; there is no missing quarter.

Q3 2025 Fund Update

Watch the Q3 2025 Fund Update Webinar for an update on all Black Swan Funds.

OR, download the full report to the left.

Watch the Q3 2025 Fund Update Webinar

Q2 2025 Fund Update

Watch the Q2 2025 Fund Update Webinar for an update on all Black Swan Funds.

OR, download the full report to the left.

Watch the Q2 2025 Fund Update Webinar

Q1 2025 Fund Update

Watch the Q1 2025 Fund Update Webinar for an update on all Black Swan Funds.

OR, download the full report to the left.

Watch the Q1 2025 Fund Update Webinar

Q4 2024 Fund Update

Watch the Q4 2024 Fund Update Webinar for an update on all Black Swan Funds.

OR, download the full report to the left.

Watch the Q4 2024 Fund Update Webinar

Q3 2024 Fund Update

Watch the Q3 2024 Fund Update Webinar for an update on all Black Swan Funds.

OR, download the full report to the left.

Watch the Q3 2024 Fund Update Webinar

Q2 2024 Fund Update

Watch the Q2 2024 Fund Update Webinar for an update on Fund I, Fund II, and Fund III.

OR, download the full report to the left.

Watch the Q2 2024 Fund Update Webinar

Q1 2024 Fund Update

Watch the Q1 2024 Fund Update Webinar for an update on Fund I, Fund II, and our first-ever update on Fund III.

OR, download the full report to the left.

Watch the Q1 2024 Fund Update Webinar

Q4 2023 Fund Update

Watch the Q4 2023 Fund Update Webinar for a year-end update on Fund I & Fund II.

OR, download the full report to the left.

Watch the Q4 2023 Fund Update Webinar

Q3 2023 Fund Update

Watch the Q3 2023 Fund Update Webinar for an update on Fund I & Fund II.

OR, download the full report to the left.

Watch the Q3 2023 Fund Update Webinar

Q2 2023 Fund Update

The Q2 2023 Fund Update Webinar recording did not convert. Review the slide deck below for an update on Fund I & Fund II.

OR, download the full report to the left.

Q1 2023 Fund Update

Watch the Q2 2023 Fund Update Webinar for an update on Fund I & Fund II.

OR, download the full report to the left.

Watch the Q1 2023 Fund Update Webinar

Q4 2022 Fund Update

Watch the Q4 2022 Fund Update Webinar for an update on Fund I & Fund II.

OR, download the full report to the left.

Watch the Q4 2022 Fund Update Webinar

Q3 2022 Fund Update

Watch the Q3 2022 Fund Update Webinar for an update on Fund I & our very first update on Fund II.

OR, download the full report to the left.

Watch the Q3 2022 Fund Update Webinar

Q2 2022 Fund Update

Watch the Q2 2022 Fund Update Webinar for an update on Fund I.

OR, download the full report to the left.

Watch the Q2 2022 Fund Update Webinar

Q1 2022 Fund Update

Watch the Q1 2022 Fund Update Webinar for an update on Fund I.

OR, download the full report to the left.

Watch the Q1 2022 Fund Update Webinar