Vetting a syndication deal

[Evan Loader]

I'm looking to invest in my second private syndication deal as a limited partner. I learned early on to always look for 2 things to ensure it is a legit deal - 1. The LLC of the syndication is registered as an entity with the SEC and 2. A sellers warranty dead is available upon closing.

The current deal I am looking at is a Delaware LLC that will hold 2 properties in the deal but the entity is not registered with the SEC. It is an extremely reputable syndicator/sponsor with 3 decades of experience. Should I be concerned?