We’ve been offered capital before entitlements were locked. We’ve always passed. Here’s why: Raising before approvals sounds efficient. Until the timeline drags and the equity burns.

A family office offered to fill our entire LP raise. No syndication. No retail onboarding. Just one wire. We said no.

We’ve tokenized real estate. $52M across multiple assets. Smart contracts. Audited financials. Reg D compliance. But we’ve also passed on tokenizing certain deals. Here’s why:

The waterfall isn’t just a split. It’s the ruleset for when friction shows up. LPs don’t forget where they rank when distributions stall.

Buying real estate is not flashy. It is not fast. But it works. Barbara Corcoran said it best. Real estate is a slow way to get very rich. That is exactly why it is one of the most reliable vehicles for long-term wealth preservation. At Primior, we structure every deal with

We’ve passed on $2M equity checks. The terms would’ve blocked our next three developments. Capital’s not valuable if it controls your future.

Tokenization isn’t a value-add if the asset can’t pass an audit. Investors still want real financials, real documents, real legal structure. On-chain nonsense doesn’t replace underwriting.

IRR means nothing if your project can’t survive a 90-day delay. Most models assume velocity. We model drag.

What kills your interest fastest in a new deal?

We’ve never closed a raise because the design was compelling. We’ve closed raises because the documents made sense. Trust starts with clarity, not branding.

Many investors are still getting it wrong about Opportunity Zones in 2025. The biggest misconception is that the benefits are no longer relevant. But the truth is, OZ investments still offer some of the most powerful tax advantages in real estate when executed correctly. ➡️

Serious LPs read the PPM before they look at the rendering. They ask who signs the loan and who controls distributions. The ones who don’t are usually first to email when timing slips

We’ve delayed raises until entitlements cleared. Not because we couldn’t raise, but because we won’t raise on assumptions. That saved our LPs from chasing risk we didn’t control.

When reviewing a capital stack, where do you look first?

Every time someone says it’s “fully leased,” we ask to see the rent roll. Leases don’t mean anything without context. Collections, escalations, and actual use tell the real story.

Liquidity isn’t magic. It’s the result of planning, structure, and timing coming together. Most deals don’t have a liquidity problem—they have a design problem.

One Bad Tenant Can Cost 10X More Than a Vacant Unit Professional squatters know tenant protection laws better than most landlords. With California's evolving tenant protection acts, screening has never been more crucial. Primior's 6-Point Tenant Screening System: ✅ Credit

Here are some updates from us this week: 🏗 GLENDALE CONDO DEVELOPMENT • Grading complete • L-beams ordered • Upcoming: Build the underground parking structure 🔵 GAIA • Internal testing of our investor portal starts next month • First step toward a streamlined,

We reported Q2 results and a clear path ahead. Income +134% y/y; margin 88.1%; EPS $0.0001803. Next: Gaia tokenization platform enters internal testing by end of Sept. Corporate actions pending approval and note conversion planned. Full release: primior.com/primior-holdin…