Brother · Nelson Partners Student Housing · not these DSTs
Patrick Nelson
Brother. Nelson Partners student housing. Different company from 4th & J and Vintage.
Different company, different offerings. National coverage, then the NYT (18 Mar 2024, plus 2021/2022): at least $115M in judgments (Skyloft $50M settlement + Fortress about $57M + more), civil contempt twice (about $3M of company money on personal expenses; misuse of Skyloft restitution). Investor suits allege Ponzi-like use of one project’s equity to pay the next.
The 25 May 2025 FBI post on the investor forum names Patrick and Blake together — that is the mix-up. He sued Wettengel/Muro in Orange County in 2020; that case is still alive. 4th & J and Vintage are Brian’s line, not Patrick’s.
The 24 Dec 2025 Versity I complaint recites Brian Nelson v. Patrick Nelson, Orange County 30-2021-01197655: split confirmed by judgment 24 Jun 2021. That pleading is not in this archive.
He is a related person (not a commissioned seller) on the older NB-* Form Ds: Darby Row, The Plaza, Tuscany Place, Molly Barr, Grant Street, Element, CP Cincy. That is the pre-split Nelson Brothers book, not Skyloft.
Timeline
- 2007–2018Nelson Brothers. Split ~2018: Patrick to development, Brian to student housing → NB Private Capital → Versity Investments. Wettengel joins ~2015 as COO/GC; CEO from 2018. Muro is Nelson Brothers IR from 2009, COO from 2018.
- 30 Nov 2020Nelson Partners Property Management, Inc. v. Blake William Wettengel filed in Orange County (Patrick’s company). Tanya Muro is later on the caption. Jury trial continued to 30 Nov 2026. A pre-Vintage OC suit BDs could have seen.
- 24 Jun 2021Judgment on arbitration award, Brian Nelson v. Patrick Nelson, Orange County 30-2021-01197655-CU-PA-CJC. Recited in the later Versity I complaint (ROA 2). Split of Nelson Brothers assets; Brian’s line became NB Private Capital → Versity Investments. Pleading not pulled.