Lloyd Companies Launches C.R. Lloyd Investment Services
Lloyd Companies has launched C.R. Lloyd Investment Services LLC, a registered broker-dealer created to connect investors with private investment opportunities tied to Lloyd-affiliated real estate projects.
The new firm, known as CRLIS, is registered withthe U.S. Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority, or FINRA, and of the Securities Investor Protection Corporation, or SIPC. It serves as a placement agent for private securities offerings, primarily associated with Lloyd-affiliated companies that invest in commercial real estate. These opportunities are typically available only to accredited investors.
For many investors, private real estate opportunities can feel unfamiliar. They are not broadly marketed, participation is selective and each investment requires careful evaluation. Lloyd Companies created CRLIS to bring more clarity and consistency to that process, with a team dedicated to helping investors understand available opportunities and how they may fit into their broader investment strategies.
“CRLIS strengthens how we engage with investors while preserving the relationship-driven approach that has always been core to our company,” said Jake Quasney, chief operating officer of Lloyd Companies.
The new firm does not change how Lloyd Companies develops or operates its projects. Instead, CRLIS focuses on the investment side of the business — introducing qualified investors to opportunities, helping them evaluate whether an investment is a good fit and guiding them through the process.
Investment opportunities marketed by CRLIS are selective by nature. The firm works to understand investor preferences and the characteristics of each offering — whether growth-focused, income-oriented or otherwise — to help connect investors with opportunities that align with their goals.
“CRLIS allows us to bring greater consistency to how investors are introduced to opportunities and supported throughout the investment process,” said Peter Kropp, chief compliance officer of C.R. Lloyd Investment Services. “It creates a disciplined framework for sharing opportunities and supporting investor evaluation.”
Kropp, who holds active Series 7, 24 and 63 registrations, earned his bachelor’s degree in economics from Duke University. He oversees the firm’s regulatory compliance and investment sales functions, leads the offering due diligence process and manages investor relations.
Other team members include:
Kellen Erpenbach, registered representative, who engages in thoughtful conversations with accredited investors regarding private placement opportunities offered through the firm’s affiliated issuers. Erpenbach draws on a deep understanding of each investor’s risk profile and objectives to guide them through the offering details. He holds active Series 7 and 63 registrations and earned bachelor’s degrees in business management and finance, as well as an MBA, from Dakota Wesleyan University.
Nicole Bell, registered representative, who connects accredited investors with private placement offerings designed to meet clearly defined investment goals. She brings a relationship-centered approach to each engagement, with a focus on transparency, suitability and strategic alignment. Bell holds active Series 7 and 63 registrations. She earned both her bachelor of business administration and MBA from the University of South Dakota and is a graduate of Leadership Sioux Falls, Class 38.
Mark Quasney, registered representative, who engages directly with accredited investors to discuss carefully vetted private offerings. He provides clarity and insight throughout the investment process, helping ensure that each opportunity aligns with the investor’s overall financial strategy. Quasney holds active Series 7 and 63 registrations. He earned bachelor’s degrees in economics and finance from Black Hills State University, graduating summa cum laude, and his MBA from Western Governors University.
“We’ve built a group that combines formal training in economics and finance with a genuine understanding of the investments offered through CRLIS. Each of our representatives holds active FINRA registrations and takes the time to understand each investor’s individual objectives before discussing any opportunity. That discipline is central to how we operate,” Kropp said.
The firm’s registered representatives focus on understanding investor preferences, evaluating investment opportunities and matching investors with appropriate offerings. They also work closely with Lloyd Companies’ project teams to ensure continuity from the time an opportunity is introduced through the transition to Lloyd’s asset management team.
CRLIS structures its work around a defined process designed to ensure alignment between investors and the opportunities presented to them. The firm’s team begins by taking time to understand each investor’s broader financial picture, including their investment objectives, risk tolerance and long-term strategy.
From there, the team evaluates each offering in detail once it is formally engaged by an affiliated issuer. This review process helps identify investors whose preferences align with the structure and objectives of a given opportunity. CRLIS then facilitates conversations and provides offering materials to support informed decision-making.
If an investor chooses to proceed, CRLIS assists with the execution of investment documentation and coordinates closely with the affiliated issuer to help ensure the process moves forward smoothly and in compliance with applicable regulations.
Following the completion of the investment process, the relationship transitions to Lloyd Asset Management Services, which becomes the primary point of contact for reporting and investor communications. That team works alongside Lloyd Companies’ development, design, construction and property management teams to oversee each project from initial development through long-term stabilization.
Together, the structure allows CRLIS to focus on investor engagement and opportunity alignment while Lloyd Companies’ broader platform continues to manage the performance and long-term operation of each investment.
“The launch of CRLIS reflects Lloyd Companies’ continued focus on growth and long-term relationships with investors,” Quasney said. “As we expand, the new firm provides a structured framework for connecting investors with opportunities in a disciplined and consistent way.”
CRLIS recently completed its first capital raise, an offering tied to a 128-unit multifamily development in northwest Sioux Falls. Investor interest in the offering was substantial, with available allocations filling quickly as accredited investors moved to participate. Through the back half of 2026 and into 2027, the firm anticipates raising capital for additional Lloyd-affiliated investment offerings.
Important risk disclosure: Private placement investments, including those offered through CRLIS, involve a high degree of risk, are speculative in nature, may result in the loss of invested capital and typically lack liquidity.
More information about C.R. Lloyd Investment Services is available through FINRA’s BrokerCheck at brokercheck.finra.org and at crlis.com.