Syndications: Idle Cash Prior to Deployment

[Mark S.]

I'm looking at a self storage syndication fund that has some language in the PPM that capital shall be placed within 90 days.  If it isn't the sponsor can either choose to return it to the investor or the preferred return will start to accrue after 90 days.  Is this normal? 

I understand that funds are constantly seeking properties/facilities to put into the fund and the money may not exactly be "working" 24/7 until placed, but wouldn't an investor normally expect to earn a return (whether full preferred return or even a lesser amount) on their cash sitting in escrow (since there's always an opportunity cost)?  Or am I being too picky here?