INDEPENDENT VERDICT
Amiricon Phoenix Fund I, LLC is a newly formed Wyoming private real estate fund tied through SEC records to Hassan Amiri and the operating Amiricon Properties platform in Silver Spring, Maryland. The September 18, 2026 Form D reports a $2 million Rule 506(c) offering of pooled investment fund interests, a $50,000 minimum investment, $0 sold, zero investors and that the first sale had not yet occurred. The issuer is classified under Commercial Real Estate, claims Investment Company Act Section 3(c)(1), and uses 12069 Tech Road, Silver Spring, Maryland as its principal business address. Hassan Amiri is the only related person named in the filing, while Kyle Swafford signed by power of attorney from Hassan Amiri as Manager. The filing therefore verifies a genuine new private fund structure, but it does not establish that the $2 million target had already been raised or that investor capital had been deployed as of September 18.
The strongest operating evidence comes from Amiricon Properties and Hassan Amiri's public activity rather than from the new fund alone. The University of Texas at El Paso's Center for Transportation Infrastructure Systems alumni directory identifies Hassan Amiri as CEO and Founder of Amiricon Properties, LLC and lists an `@amiricon.com` email address. His public professional profile also identifies Amiricon Properties in Silver Spring and shows current real-estate operating activity. Most importantly, recent public posts describe an Amiricon-sponsored Phoenix multifamily opportunity for accredited investors involving a 104-unit property built in 2023, a planned five-year hold, projected 14% annualized return language, 5% annual cash-flow distribution language and a roughly $1 million Amiricon allocation. Those are sponsor marketing statements rather than SEC-verified performance projections, but they strongly support the connection between the "Phoenix" fund name and an actual Phoenix multifamily transaction being marketed by the same Hassan Amiri named in the Form D.
AMIRICON PROPERTIES, WEBSITE / DOMAIN EVIDENCE AND OPERATING HISTORY
Amiricon's operating footprint predates the 2026 fund. Public real-estate listing records show Amiricon Properties-branded renovation and resale activity in Maryland going back years. For example, Compass records for 4100 71st Avenue in Hyattsville identify the property as an Amiricon Properties renovation and list Hassan Amiri as the listing agent; similar older residential listings in Silver Spring and Germantown also reference Amiricon Properties. These records do not establish the performance of Amiricon Phoenix Fund I, but they independently support that Hassan Amiri has a real operating history in residential real estate rather than appearing for the first time in the 2026 SEC filing.
The domain evidence is also useful, although not yet as strong as for firms with a fully indexed institutional website. UTEP's alumni directory lists Hassan Amiri as CEO and Founder of Amiricon Properties and provides the email address `[email protected]`, which links the Amiricon brand to the `amiricon.com` domain. Public professional records also consistently use the Amiricon Properties name. However, FilingDossier did not locate a sufficiently detailed indexed public website showing a complete fund page, current property portfolio, audited track record or legal disclosures for Amiricon Phoenix Fund I itself. For that reason, `amiricon.com` can be treated as a plausible and independently supported operating domain tied to Hassan Amiri, but fund-specific claims should still be verified against offering documents rather than inferred from the domain alone.
The September 2026 Form D is especially important because it clarifies the legal product. Amiricon Phoenix Fund I is not simply an operating property company; it is a pooled investment vehicle. The filing selects Pooled Investment Fund Interests as the security type, Rule 506(c) as the exemption and Section 3(c)(1) as the Investment Company Act exclusion. Rule 506(c) permits general solicitation provided investors satisfy accredited-investor verification requirements. The $50,000 minimum reinforces that this is being marketed as a private investment product rather than a small retail crowdfunding offering.
PHOENIX MULTIFAMILY STRATEGY, DEAL EVIDENCE AND CAPITAL STRUCTURE
The public sponsor marketing around Phoenix provides the most relevant strategy clue. Hassan Amiri's recent posts state that Amiricon secured a limited $1 million allocation in a Phoenix multifamily investment with experienced local operators, involving a 104-unit building completed in 2023. The posts also say the operating partners specialize in Phoenix multifamily and own the building next door. That combination suggests Amiricon Phoenix Fund I may function as a feeder, co-investment or syndication vehicle allocating investor capital into a larger multifamily transaction rather than directly owning and operating an entire property by itself. This interpretation is plausible from the available evidence, but the Form D does not identify the property, operator, ownership percentage or legal downstream structure, so investors should confirm those details directly in the PPM and operating agreement.
The difference between the $2 million SEC offering and the publicly mentioned $1 million Amiricon allocation is especially important. The Form D authorizes a $2 million fund offering, while Hassan Amiri's public marketing refers to a roughly $1 million allocation in the underlying Phoenix deal. These numbers may fit together if the fund includes reserves, fees, multiple closings or additional investment capacity, but that relationship is not explained in the SEC filing. Investors should therefore not assume the full $2 million will be invested directly into the 104-unit property or that the $1 million allocation represents total property equity. The sponsor should provide a clear sources-and-uses schedule showing investor capital, sponsor capital, reserves, fees, downstream entity investment and any leverage at the property level.
The projected return language also needs disciplined treatment. Public marketing references approximately 14% annualized return projection, 5% annual cash-flow distributions and a five-year hold. These are forward-looking sponsor projections, not realized historical returns and not SEC-reviewed estimates. The actual outcome will depend on purchase basis, property debt, occupancy, rents, expenses, exit cap rate, financing costs and the economics of any master sponsor or operating partner. FilingDossier therefore treats those numbers as deal-marketing assumptions rather than verified expected returns.
Phoenix multifamily can benefit from long-term population and employment growth, but it is also exposed to substantial recent supply. New apartment deliveries can pressure occupancy and rent growth, while higher interest rates can reduce valuations and make refinancing more expensive. A recently built property may have lower near-term capital-expenditure requirements than an older value-add asset, but newer construction can also be purchased at a higher basis and may depend more heavily on continued rent growth to achieve return targets. Investors should know current occupancy, rent concessions, trailing NOI, debt-service coverage and the underwriting assumptions used to support the projected five-year outcome.
MANAGEMENT, ALIGNMENT, FEES AND INVESTOR DILIGENCE
Hassan Amiri is the central sponsor-level figure. SEC records identify him directly as a Director of Amiricon Phoenix Fund I, while public professional and academic records identify him as founder of Amiricon Properties. His public posts also state that he intends to invest his own money alongside investors in the Phoenix opportunity. Sponsor co-investment can improve alignment, but investors should verify the actual dollar amount, whether the sponsor investment is made on identical economic terms and whether any promoted interest, acquisition fee, management fee or disposition fee changes effective alignment.
The Form D reports $0 sales commissions, $0 finder's fees and $0 of offering proceeds proposed to be used for payments to the named related person under Item 16. Those are narrow SEC disclosure categories and do not mean the fund or underlying property is fee-free. Investors should request the full sponsor-compensation schedule, including acquisition, asset-management, financing, construction-management, disposition, refinance and property-management fees, as well as any carried interest or promote payable to Amiricon or the underlying operator.
The use of a power-of-attorney signer also deserves simple clarification rather than suspicion. Kyle Swafford signed the Form D "By POA from Hassan Amiri, Manager." This confirms delegated filing authority but does not identify Swafford as the investment manager or sponsor. Investors should understand whether Swafford is legal counsel, fund administrator, filing agent or another service provider and should avoid describing him as a fund principal without additional evidence.
FINAL ASSESSMENT
Amiricon Phoenix Fund I has a credible identity-verification chain for a newly launched private real estate vehicle. SEC EDGAR confirms a Wyoming fund, a Maryland operating address, Hassan Amiri's control role, a $2 million Rule 506(c) pooled-fund offering, a $50,000 minimum and a Section 3(c)(1) structure. Independent public evidence then links Hassan Amiri to Amiricon Properties, the `amiricon.com` domain and years of Maryland property activity. Recent sponsor communications go further by describing a specific Phoenix multifamily opportunity involving a 104-unit 2023-built property, an Amiricon allocation of roughly $1 million and a planned five-year investment horizon.
The main weakness is not identity but fund-level transparency. The initial Form D reports $0 sold and no first sale, while public marketing does not provide the exact property address, operator identity, purchase price, debt terms, cap rate, ownership percentage or full fee waterfall in the evidence reviewed. The strongest next step is therefore property-level reconciliation: investors should map the $2 million fund offering to the $1 million stated deal allocation and verify precisely how investor capital reaches the underlying 104-unit Phoenix asset.
SEC SNAPSHOT
ADDRESS: 12069 Tech Road, Silver Spring, Maryland 20904 | PHONE: 404-532-9531 | INDUSTRY: Commercial Real Estate | SECURITY: Pooled Investment Fund Interests | EXEMPTION: Rule 506(c) | ICA EXCLUSION: Section 3(c)(1).
RELATED PERSON: Hassan Amiri | FORM D RELATIONSHIP: Director | FORM D SIGNER: Kyle Swafford | SIGNING AUTHORITY: By POA from Hassan Amiri, Manager.
PUBLIC PHOENIX DEAL EVIDENCE: Amiricon public marketing describes a roughly $1M allocation in a Phoenix multifamily deal | 104 units | building completed in 2023 | planned five-year hold | 14% projected annualized-return language | 5% annual cash-flow distribution language. These are sponsor-reported projections, not SEC-verified performance.
IMPORTANT CAPITAL DISTINCTION: $2M is the SEC offering amount; $0 was reported sold at filing. The approximately $1M public Amiricon allocation refers to a reported underlying Phoenix opportunity and is not automatically the same as total fund capital, property equity or current NAV.
WEBSITE / ENTITY PENETRATION
AMIRICON PHOENIX FUND I SEC ISSUER — CONFIRMED | HASSAN AMIRI SEC RELATIONSHIP — CONFIRMED | SILVER SPRING ADDRESS — CONFIRMED | RULE 506(c) / SECTION 3(c)(1) — CONFIRMED.
AMIRICON PROPERTIES — independently corroborated through UTEP alumni records and historical real-estate listings | HASSAN AMIRI — identified as CEO / Founder of Amiricon Properties by UTEP | DOMAIN LINK: `amiricon.com` supported through `[email protected]` email published by UTEP.
HISTORICAL PROPERTY ACTIVITY — Maryland renovation / resale evidence independently visible in public listing records, including Amiricon Properties-branded transactions in Hyattsville and Silver Spring.
PHOENIX MULTIFAMILY CONNECTION — strongly supported through Hassan Amiri's current public marketing | EXACT PROPERTY ADDRESS — NOT IDENTIFIED IN FORM D | UNDERLYING OPERATOR — NOT NAMED IN THE SEC FILING | PROPERTY PURCHASE PRICE — NOT PUBLICLY ESTABLISHED | PROPERTY DEBT — NOT PUBLICLY ESTABLISHED | FUND OWNERSHIP PERCENTAGE — NOT PUBLICLY DISCLOSED.
DEDICATED FUND WEBSITE — NOT LOCATED | FULL AMIRICON FUND PORTFOLIO — NOT PUBLICLY DISCLOSED | CURRENT FUND NAV — NOT PUBLICLY DISCLOSED | MANAGEMENT / PROMOTE ECONOMICS — REQUIRE OFFERING DOCUMENTS | CURRENT AUDITOR / ADMINISTRATOR — NOT IDENTIFIED IN FORM D.
CORE INVESTOR QUESTIONS
What exact 104-unit Phoenix property will Fund I invest in | Who is the operating partner or master sponsor | What is the property purchase price and current appraisal | How does the $2M fund offering reconcile with Amiricon's publicly stated $1M allocation | What percentage of the underlying property will Fund I own | How much property-level debt is outstanding | What interest rate, maturity and loan-to-value apply | What are current occupancy, rent, concessions and trailing NOI | What assumptions support the projected 14% annualized return and 5% annual cash distribution | What acquisition, management, refinance and disposition fees apply | What sponsor promote or carried interest applies | How much personal capital is Hassan Amiri investing and on what terms | Are investor and sponsor interests pari passu | Who independently values and administers the fund | What rights do investors have if the five-year hold is extended | What happens if refinancing or property sale is delayed
CORE RISKS
Single-property or concentrated multifamily exposure | Phoenix apartment supply | Rent-growth risk | Occupancy pressure | Interest-rate and refinancing risk | Cap-rate expansion | Property valuation risk | Sponsor / operator execution risk | Fee and promote drag | Related-party and co-investment complexity | Limited fund-level operating history | Newly formed issuer | No first sale reported in initial filing | Projected returns are not guaranteed | Underlying operator not identified in Form D | $2M offering is not capital already raised | $1M public allocation is not automatically fund NAV.
INDEPENDENT CONCLUSION
Amiricon Phoenix Fund I, LLC is a verifiable 2026 private real estate fund connected directly to Hassan Amiri and the Amiricon Properties operating platform.
The September 18, 2026 Form D reports a $2 million Rule 506(c) offering, a $50,000 minimum, Section 3(c)(1), $0 sold, zero investors and no first sale as of filing.
Independent public evidence provides a meaningful operating-history layer.
UTEP identifies Hassan Amiri as CEO and Founder of Amiricon Properties and links him to the `amiricon.com` domain.
Historical real-estate records show Amiricon Properties-branded renovation and resale activity in Maryland.
Recent sponsor communications then connect Amiricon directly to a Phoenix multifamily opportunity involving a 104-unit property completed in 2023 and a reported roughly $1 million Amiricon allocation.
That evidence makes the "Phoenix" fund name commercially plausible and materially strengthens sponsor verification.
The remaining diligence questions are transaction-specific.
The SEC filing does not identify the underlying property, operating partner, purchase price, debt structure, ownership percentage or fee waterfall.
Prospective investors should therefore reconcile the $2 million fund offering with the roughly $1 million stated deal allocation and obtain the property-level underwriting before evaluating the projected return.
The $2 million Form D amount is an offering amount.
It is not evidence that $2 million had already been raised.
Likewise, the advertised 14% annualized return and 5% annual cash-flow figures are sponsor projections, not realized results or SEC-approved estimates.
SEC Form D confirms an exempt securities offering.
It does not constitute SEC approval of Amiricon Phoenix Fund I, Amiricon Properties, Hassan Amiri, the Phoenix property, projected returns, valuations or future investment performance.
PRIMARY EVIDENCE REVIEWED
U.S. Securities and Exchange Commission — Amiricon Phoenix Fund I, LLC — CIK 0002155807 — Form D filed September 18, 2026 — $2M offering — $0 sold — zero investors — $50K minimum — Rule 506(c) — Section 3(c)(1).
SEC EDGAR filing detail — File No. 021-598149 — Film No. 261390741 — Wyoming issuer — 12069 Tech Road, Silver Spring.
University of Texas at El Paso — CTIS alumni directory — Hassan Amiri identified as CEO and Founder of Amiricon Properties, LLC — `[email protected]`.
Hassan Amiri public professional profile — Amiricon Properties — Silver Spring — current Phoenix multifamily investor communications and reported $1M allocation / 104-unit deal characteristics.
Public real-estate listing records — Amiricon Properties historical Maryland renovation / resale activity associated with Hassan Amiri.
IMPORTANT FORM D NOTICE:
Form D is a notice filing for an exempt securities offering. It does not mean that the SEC approved Amiricon Phoenix Fund I, Amiricon Properties, Hassan Amiri, the underlying Phoenix multifamily property, sponsor projections or future investment performance.