Phoenix MSA, LLC is a real estate fund based in Phoenix, Arizona. According to its most recent Form D, filed Dec 31, 2025, it has sold $27,510,000 of interests to 32 investors since its first sale in Dec 2025. The minimum investment it accepts from an outside investor is $25,000. The offering uses Rule 506(b), which does not permit general solicitation. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Keith Mishkin.
- Total raised
- $27,510,000Cumulative sales reported on Form D
- Investors
- 32
- First sale
- Dec 5, 2025
- Minimum investment
- $25,000
- Who can invest
- Not stated
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Keith Mishkin
- Latest Form D
- Dec 31, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Returns are not part of SEC filings. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Phoenix MSA, LLC
What is the minimum investment for Phoenix MSA, LLC?
According to its latest Form D, filed Dec 31, 2025, the minimum investment Phoenix MSA, LLC accepts from an outside investor is $25,000.
Who can invest in Phoenix MSA, LLC?
Phoenix MSA, LLC is generally open only to investors who meet the eligibility rules in its offering documents. It uses Rule 506(b), which does not allow general advertising.
How much has Phoenix MSA, LLC raised?
Phoenix MSA, LLC reports $27,510,000 sold from 32 investors on its Form D filed Dec 31, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Phoenix MSA, LLC based?
Phoenix MSA, LLC is based in Phoenix, Arizona.
When did Phoenix MSA, LLC launch?
Phoenix MSA, LLC reports its first sale in Dec 2025, which makes it an emerging manager by AltMountain's definition (first sale in 2021 or later and under $50 million raised).
Size compared with every real estate fund
Raised more than 93% of the 343 real estate funds based in Arizona, and more than 90% of all 7,337 that report sales.