Sponsor review
Track record, balance sheet, management depth, and how they behaved in past downturns.
Why choose us
The Breakwater Difference
We are not a sponsor. We mystery-shop the offerings we review. And Josh invests his own money in the strategies he recommends.
The difference
Six things that set Breakwater apart.
Education first
200+ seminars delivered. Clients make decisions because they understand them — not because they were pitched.
Independent of sponsors
We are not a sponsor and are not affiliated with sponsors — our due diligence works for you, not for an offering.
We mystery-shop DST properties
Site visits and secret shopping on real offerings — not just reading the marketing package.
Full-market inventory
Typically 30 to 45 DST offerings tracked at any given time, including off-market, all-cash, and leveraged structures.
Skin in the game
Josh personally invests in offerings he recommends — he walks the walk.
A single point of contact
You work directly with the President, supported by a dedicated exchange-coordination team.
Due diligence
Three reviews before anything reaches your desk.
Property review
Market, tenancy, lease terms, financials, and the assumptions under the pro forma.
Offering structure review
Fees, leverage, distribution coverage, and exit provisions — read line by line.
Investment criteria
What we recommend — and what we won’t.
Where we focus
- Essential-business triple net
- Self storage
- Multi-family (B to A-)
- Healthcare & senior living
- Industrial
- Student housing
- Medical office
- Data centers
- Distribution centers
- U.S. government & utility leases
What we pass on
- Hotels
- Office space
- Luxury multi-family
- Specialty retail franchises
- Oil & gas
- Minerals
“We will tell you what we won't recommend — and why — before we ever talk about what we will.”
Our broker-dealer
Emerson Equity LLC
Breakwater's broker-dealer — an independent firm that raises 12–15% of the annual DST market with more than 150 investment professionals. Every offering Breakwater presents has passed Emerson's separate due-diligence and compliance review.
Meet the Emerson leadershipNext step
Put the difference to work.
Bring us the property, the timeline, and the goal. You'll leave the first conversation knowing every option on the table — and what we'd do in your position.