The Ironleaf Real Estate Cash Flow Fund
CASH FLOW
Disciplined Income Generation Through Strategic Real Assets
Ironleaf Equity Partners invites accredited investors to participate in a diversified vehicle designed for durable yield and capital preservation. By targeting stabilized multifamily and mixed-use assets in high-conviction markets, the Fund prioritizes consistent distributions and risk-adjusted performance.
$25,000 Minimum Investment*
Monthly Preferred Returns
Low 2% Management Fee
*Available to accredited investors only.
FUND MISSION & CORE PURPOSE
Build Durable Wealth with the Ironleaf Cash Flow Fund
At Ironleaf, our investment approach is designed with one priority: protecting and growing investor capital through disciplined ownership.
Founded by professionals with deep roots in development and asset management, we understand that true wealth is built through patience, transparency, and the active management of high-quality real assets.
Our goal is to put institutional-grade real estate within reach—delivering straightforward, cash-flowing solutions that help our partners grow their portfolios with confidence across every market cycle.
FUND STRATEGY
Consistent Distributions. Institutional Asset Backing.
The Ironleaf Cash Flow Fund is a private equity vehicle designed to deliver steady, durable income to accredited investors. The fund holds a diversified portfolio of stabilized multifamily and mixed-use assets—all underwritten with a significant margin of safety and managed by our in-house operational team. We prioritize assets in high-demand markets like the Pacific Northwest and Midwest to ensure resilience and consistent performance.
Targeted Preferred Returns
The fund offers an 8% annual preferred return, distributed monthly, providing investors with immediate and consistent cash flow.
Performance Participation
Beyond the preferred return, investors benefit from profit-sharing upside as assets appreciate, targeting a total annualized return of 12%–15%.
Defined Liquidity Path
Following an initial 12-month hold period, the fund offers quarterly redemption windows, providing a thoughtful balance between long-term growth and capital access.
Strategic Asset Diversification
Risk is mitigated by spreading capital across multiple high-conviction geographies and property types, reducing exposure to any single market or asset.
A Partnership Built on Accountability and Co-Investment
The Ironleaf Cash Flow Fund is built for investors seeking predictable distributions, transparent reporting, and the confidence that their capital is being managed with the utmost discipline. We believe in true partnership, which is why our fee and profit structures are designed to prioritize the investor first.
TARGETED RETURNS & PROFIT SHARING
Priority Distributions and Scaled Profit Sharing for Long-Term Partners
The Ironleaf Cash Flow Fund is designed for accredited investors seeking superior, risk-adjusted returns through carefully underwritten real estate equity. By focusing on stabilized multifamily assets and select mixed-use developments, we provide a foundation of durable cash flow and capital preservation.
Investors benefit from a substantial annual preferred return, paid monthly, which serves as a priority distribution before any profit-sharing occurs. To further align with our partners, the Fund features a tiered participation structure where larger capital commitments receive an increased share of the excess profits generated by the portfolio.
*Reflects Ironleaf's specific $25,000 minimum investment threshold.
Each investment is backed by active ownership and direct involvement throughout the asset lifecycle, ensuring that every property is managed to maximize value and maintain structural demand.
Performance Allocation
At Ironleaf, we believe a successful partnership is rooted in a clear, performance-driven allocation of profits. Our incentive structure is designed to reward larger capital commitments with a greater share of the upside, while ensuring our team remains focused on long-term value creation.
Investor Priority Distributions Profits are allocated to investors (Limited Partners) first until the 8% preferred return is fully satisfied.
Scaled Profit Participation Once the preferred return is met, remaining profits are split between the Limited Partners and the General Partner (Ironleaf) based on the tiered commitment levels.
True Alignment of Interests This "investor-first" waterfall ensures that Ironleaf only prospers after we have delivered the preferred return and generated strong overall profits for our partners.
Incentivized Commitment Our structure specifically rewards larger capital allocations with an increased percentage of the excess profit, providing a strategic advantage for significant long-term commitments.
LEADERSHIP
Leadership Built on Discipline and Alignment
Keelan Flowers
CO-FOUNDER
Keelan Flowers is a Seattle-based real estate developer, investor, and broker with more than 20 years of experience sourcing, structuring, and executing value-driven real estate projects. He is the Founder and Owner/Broker of Flowers Investments Inc., where he focuses on identifying high-quality development and investment opportunities across residential, commercial, and mixed-use asset classes throughout the greater Seattle region.
Keelan brings a development-first perspective to every transaction, evaluating opportunities through a rigorous highest-and-best-use lens informed by land use, entitlement strategy, construction feasibility, and project-level financial modeling. His hands-on experience across the full lifecycle of real estate—from acquisition and entitlements through development, stabilization, and disposition—allows him to mitigate risk and drive consistent outcomes for capital partners.
To date, Keelan has been instrumental in delivering more than 150 residential and commercial units to market and has guided a wide range of investors, from first-time participants to seasoned operators, toward long-term wealth creation through disciplined real estate investing. His approach is grounded in transparency, alignment of interests, and thoughtful capital deployment.
Committed to responsible development and community-centered growth, Keelan actively collaborates with local organizations and stakeholders to expand access to real estate investment and promote sustainable neighborhood revitalization. He currently serves on the Real Estate Advisory Board of the Rainier Beach Action Coalition in Seattle.
Eric Frank
CO-FOUNDER
Eric Frank is a real estate developer and fund manager with over 25 years of experience in real estate, spanning brokerage, investment, and development. Over the last 10 years, he has operated as a principal developer, leading residential, multifamily, and workforce housing projects across several U.S. markets. To date, Eric has overseen more than $50 million in development activity, leveraging disciplined underwriting, value-add strategies, and long-term asset management to deliver risk-adjusted returns. He brings deep expertise in real estate finance and affordable housing execution and is a participant in Amazon’s Affordable Housing cohort. Eric leads a mission-aligned investment platform designed to provide limited partners with institutional-quality real estate exposure alongside measurable community impact.
Caleb Jackson
PARTNER
Caleb Jackson is the Executive Director of Resource Equity Association, a nonprofit focused on helping Black legacy homeowners stay rooted in their communities while protecting and growing generational wealth. Through a culturally responsive, trauma-informed Housing Navigator model, his work connects families to estate planning, financial tools, and property development strategies that turn homeownership into long-term stability and opportunity.
Caleb works at the intersection of housing preservation, development, and anti-displacement, partnering with homeowners, agents, city agencies, and community organizations to create practical pathways that keep families in place as neighborhoods change. His guiding belief is simple: when Black families are equipped to steward their homes, they strengthen their families, their neighborhoods, and future generations.
Sustain and grow your wealth through a fund designed for stewardship, by operators who invest alongside you.
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We invest with patience. We operate with integrity. We build for generations.
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Securities offered through private placements to qualified investors only. Past performance is not indicative of future results. Investments involve risk, including possible loss of principal. This website is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities.