Risk Registers
These registers are the source for the Risk Management pack in the
Report Center
— Enterprise Risk, Cybersecurity & Operational, Business Continuity,
Key Person & Succession and Risk Appetite. Nothing else writes them.
| Risk | L | I | Score | Severity | Owner | Mitigation | Status | Target | Reviewed | |
|---|---|---|---|---|---|---|---|---|---|---|
|
Interest-rate reset on the floating-rate property loans
Three property loans reset in the next 18 months; a 150 bp move takes DSCR on Summitwoods below 1.20x.
|
3 | 4 | 12 | High | Casey Lin | Rate caps bought on Summitwoods and Oakline; refinance Lakeshore Terrace ahead of the 2027 reset. | open | Q1 2027 | 09/19/26 | |
|
Concentration in Southeast multifamily
Eleven of fifteen properties and 46% of real estate value sit in NC/SC multifamily.
|
3 | 3 | 9 | Medium | Toviya Slager | No new Carolina multifamily until the industrial and credit allocations reach target. | open | Ongoing | 09/04/26 | |
|
Property insurance renewal pricing
Coastal wind premiums rose 31% at the last renewal across the Georgia and Florida assets.
|
4 | 2 | 8 | Medium | Casey Lin | Renewals marketed 90 days out through two brokers; higher wind deductibles accepted on Clearwater Storage. | open | Nov 2026 | 09/24/26 | |
|
Sponsor concentration - Harbor Lane Partners
Four deals and the Mill Street bridge loan share one sponsor; a sponsor failure touches 18% of the book.
|
2 | 4 | 8 | Medium | Toviya Slager | Quarterly sponsor financials under the side letter; key-person clause triggers a redemption right. | open | Each quarter | 09/09/26 | |
|
Development cost overrun - Birch Lane Townhomes
Hard-cost bids came in 9% over budget; contingency is 6%.
|
3 | 2 | 6 | Medium | Toviya Slager | Value-engineering round with the GC; sponsor funds the first 5% of any overrun under the OA. | open | Mar 2027 | 10/04/26 | |
|
Liquidity: capital calls on three funds in one quarter
Harbor Point IV, Cedar Ridge V and Northgate III could call $2.1M inside a single quarter.
|
2 | 3 | 6 | Medium | Casey Lin | Treasury holds two quarters of expected calls in T-bills; the 13-week forecast flags any week below $1.5M. | open | Monthly | 10/03/26 | |
|
Private credit borrower default (Westfield Bridge)
Bridge loan matures in 2027 against a retail asset still in lease-up.
|
2 | 3 | 6 | Medium | Morgan Hale | Monthly rent-roll covenant; extension priced at 1 point; second lien perfected. | open | Oct 2027 | 09/27/26 |
| Risk | L | I | Score | Severity | Owner | Mitigation | Status | Target | Reviewed | |
|---|---|---|---|---|---|---|---|---|---|---|
|
Cyber: wire fraud through a spoofed sponsor email
Distribution and capital-call instructions arrive by email; a spoofed change of bank details is the likeliest loss.
Cyber
|
2 | 5 | 10 | High | Jordan Park | Call-back on every new or changed wire instruction; two approvers over $25,000; annual phishing drill. | open | Each quarter | 08/30/26 | |
|
Single point of failure in the month-end close
One controller runs the reconciliation, the QuickBooks pull and the statement board; a two-week absence stops all three.
Operational
|
3 | 3 | 9 | Medium | Casey Lin | Written close checklist with named backups per step; the associate shadowed the September close end to end. | mitigating | Dec 2026 | 09/27/26 | |
|
Banking-portal credential compromise
A phished controller login could release wires up to the daily limit before the call-back catches it.
Cyber
|
2 | 4 | 8 | Medium | Jordan Park | Hardware keys on every banking login; dual approval on the portal itself, not only in the app; quarterly access review. | mitigating | Q4 2026 | 09/19/26 | |
|
Manager statements arriving late or in a changed format
Three sponsors changed their reporting format this year; each change stalled the RE financials for a month.
Operational
|
3 | 2 | 6 | Medium | Toviya Slager | Format profiles pinned per manager in RE Financials; the review queue flags a changed chart before it is mapped. | open | Ongoing | 10/01/26 | |
|
Ransomware on the office file server
The deal folders and the tax archive sit on one SharePoint tenant; a tenant-wide encryption event would stop the close.
Cyber
|
2 | 3 | 6 | Medium | Jordan Park | Immutable 30-day backups to a second cloud; restore drill twice a year; the last drill restored the tax archive in 40 minutes. | open | Mar 2027 | 09/06/26 |
| Risk | Person | Successor | Readiness | L | I | Score | Severity | Owner | Mitigation | Status | Target | Reviewed | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Key person: Toviya Slager (investment lead)
Deal sourcing, sponsor relationships and IC memos run through one person.
|
Toviya Slager | Morgan Hale | in training | 2 | 4 | 8 | Medium | Morgan Hale | Morgan Hale shadows every sponsor meeting; written investment memos for every deal since 2024. | open | Dec 2026 | 08/10/26 | |
|
Key person: Casey Lin (controller)
QuickBooks, treasury and the tax season sit with one controller.
|
Casey Lin | Jordan Park | ready | 2 | 3 | 6 | Medium | Toviya Slager | Outsourced CPA firm holds read access and a documented month-end close checklist; cross-trained Jordan Park on wires. | open | Jun 2027 | 08/25/26 | |
|
Key person: Jordan Park (treasury and wires)
Wire preparation, the weekly cash position and the bank-portal access run through one associate.
|
Jordan Park | — | none | 2 | 2 | 4 | Low | Casey Lin | The controller holds a second set of portal credentials; wire templates are saved in the app rather than in a personal file. | open | Jun 2027 | 09/24/26 |