What is normal reporting from Sponsors (GPs) to LPs?

[Mike Smith]

I invested in two different multi-family syndications last summer.  It was my first venture in syndications and multi-family in general.  I read through the PPM diligently, crunched numbers on the PPMs, and even have some local knowledge of both areas.  I was very excited about the projects and the possible returns.

It's now been 9 months since the syndications closed, and I'm aghast at the lack of financial reporting on both syndications.

New construction project - is completing at least 6 months behind schedule on the first phase, received no communication from sponsor regarding the construction delays, in fact, I was proudly emailed a construction camera link that showed the foundation being poured about the time the PPM showed a Certificate of Occupancy was scheduled.  That was corrected, but there has not been any revised financial projects provided showing how the 6 month delay in rents will affect the projections.  There has been zero communication regarding if the project is on budget with construction costs or not.  I was issued a K1 but zero other financial communication.

Value add project - The rehab of the common areas, etc, has gone according to schedule.  Units are being rehabbed as they turn over.  However, when I couldn't find any financial information in my investor portal other than a K1 showing a large loss,  I was told "the sponsor doesn't like to share financial data with LPs"??  This is an active project with an income stream of rents and operating expenses.  The PPM showed detailed financial projections on a yearly basis with projected rents, operating expenses and capital improvement costs.  It sounds like the sponsor is going to work with me personally to provide some financial data, but I'm worried about the sponsor in general who "doesn't like to share financial data with LPs".

I'm very new to syndications.  Am I expecting too much of sponsors to provide quarterly financial reports to LPs?  What is normal for reporting on multi-family syndications?