The Buckingham
Nelson-track Chicago student housing. Midland/Wells ~$45.7M foreclosure, March 2026. Later still named on the Waterfall nine list.
- Offering
- Form D 20 Aug 2018 · first sale 27 Jul 2018 · $44,326,195 · CIK 0001748033
- Selling group
- Brian Nelson and David Gillimore at Emerson Equity. Pending disputes are allegations.
- Live legal posture
- Plaintiff in OC 30-2026-01543537 (filed 29 Jan 2026). Allegations.
- 12206 conservative line
- 27 Jul 2024, if the actual close is near the Form D first sale. Actual subscription dates, not Form D dates, are the ones that matter.
- Alleged capital call
- 1 Sep 2022 (forum). Holder said the cash was later treated as extra equity.
Independent confirmation that Nelson-track assets (not Vintage, not 4th & J) are taking senior-lender fire. A warning about the rest of the Nelson book, not Vintage’s KHCA problem. Named plaintiff in OC 30-2026-01543537. Allegations in that suit.
Forum: distributions paused April 2020. A holder reports an alleged capital call 1 Sep 2022, later treated as extra equity rather than repaid (8 Sep 2026 post).