I do
I have put the minimum investment (usually $10,000) in each for the last few years (my usual way of trying out an investment).
On the plus side they seem to be quite high yield, deliver on their forecasts and are reasonably open with their investors. The fact that all of their new syndicates are always subscribed reasonably quickly is a good endorsement for a company that has been around for a while.
On the downside there is no or limited liquidity, they are usually single building trusts (risk of downside due to tenancy vacancies, problems with the building and so on), and are fixed term syndicates (the risk being if the commercial property market is in a down turn - and those down turns can be upwards of 60% off original valuation - the building must be sold at that point locking in the losses). The syndicate managers do have risk management controls for those risks but they are still prevalent and can lose investors in this type of syndicate a lot of money if they kick in.
All in all if you want to invest in syndicates I think you could easily do worse, however they are not yet robust enough for us (as financial planners) to add them to our "approved list" to recommend to clients so maybe there is something in that too.
