Multifamily syndicator Vision & Beyond goes into the great beyond

Looks like Vision & Beyond, a Cincinnati-based multifamily syndicator that raised capital primarily from Israeli investors, has gone under. Per Israeli financial newspaper Calcalist, the company went under last month and investors are claiming that they were left in the dark about properties that they owned but were foreclosed upon. The GP blamed the interest-rate shocks for the firm's demise; the investors allege the shady behavior started well before that.

Will try to get a fuller picture going in Friday's ed. of The Promote. Some of the details in the Calcalist piece are really interesting: "The controlling shareholders even established a 2141 customer club for discharged officers, which contributed to the branding of Vision & Beyond as a company for military and reserve personnel."