This is Issue No. 001 of The Docket. Each week: deals sourced, scored, and reviewed against a structured methodology. Four asset classes this week. One deal has already closed — published as a full Featured Dossier so you can see exactly what that looks like. Three remain open.

Nothing here is investment advice.

The full scoring framework is available at getthedocket.com/how-we-score.

Two Class A industrial distribution facilities totaling 540,345 sf, fully leased to FedEx Ground in Louisville and Chattanooga.

Operator: The Wideman Company, 50 years of operations, approximately $1.2B in commercial real estate under management across the Southeast. Target IRR: 15.1%. 6-year hold. 62.4% LTV. Sourced via RealtyMogul.

This offering closed on or around April 27, 2026. It is published here as a closed deal — the full Dossier shows what structured review of this deal looks like.

A junior (subordinated) asset-based note financing The Smarter Merchant, a merchant cash advance provider operating since 2013. 17–19% coupon. 22-month term. Closes May 14, 2026. $10,000 minimum. Sourced via Percent.

The score reflects two structural concerns that merit direct acknowledgment. First: this is a junior position — structurally subordinated to a senior participation. In a default scenario, senior noteholders are paid first. Second: zero overcollateralization means there is no buffer built into the structure. The 13.79% portfolio default rate disclosed in the offering materials is a real number; it is not buried in the fine print.

The offsetting case: TSM has raised $266M across 33 Percent deals since 2020, with 31 repaid on time. The track record is real and the platform is established. The coupon reflects the risk.

Worth watching for subscribers who understand subordinated credit and have priced in the relevant risks.

Close date: May 14, 2026. Act on your own timeline — not ours.

A 15-year-old organic dry cleaning operation in Hudson County — one of the densest consumer markets in the northeast. Asking price: $1.3M. Seller's Discretionary Earnings: $425,420. Revenue: $1.179M. Multiple: 3.06x SDE. 4,000 SF plant, fully equipped, absentee-owned with a manager in place. 12 full-time employees. Lease through January 2037 at $15,308/month. FF&E of $600,000 included in the asking price. SBA-eligible. Sourced via BizBuySell.

What the score reflects: the business is real, operating, and financeable. The multiple is fair for an absentee-operated service business with this revenue profile. The lease runway — eleven years remaining — removes a major acquisition risk. The organic positioning is a differentiated niche in a market where conventional dry cleaning faces long-term structural pressure from consumer behavior shifts.

What it does not reflect: EBITDA is not disclosed. Without it, debt service coverage math is incomplete. A buyer should request full financials before proceeding.

Seller is moving out of state. That is a real exit, not a distress signal — but it warrants verification in diligence.

Alumni Ventures is a Boston-based venture firm that raises small, accessible funds ($10K minimum) structured around university alumni networks. Fund 11 is the current offering — filed March 31, 2026, in early raise stages. Rule 506(c). Sourced via SEC EDGAR Form D.

The operator is established and verifiable. Alumni Ventures manages multiple concurrent fund vehicles and has a traceable history of Form D filings. The fund structure gives individual investors access to diversified venture portfolios at minimums that institutional managers do not offer.

The score reflects what the filing does not contain: no stated return targets, no fee disclosure in the public document, and very early raise activity ($100K raised from 1 investor at time of filing). These are information gaps, not disqualifiers — but they are gaps a subscriber should fill before committing capital. Request the full PPM directly from Alumni Ventures.

Worth watching for subscribers with venture allocation appetite and the patience to conduct additional diligence on the full fund terms.