You bear it, proportionally. This is the part worth reading twice.
Vacancy. If the property is unoccupied, there is less or no net rental to distribute. Operating and maintenance costs continue and are met from rental income or reserves, which reduces what reaches investors.
A sale below expectations. Proceeds are distributed proportionally. If the property sells for less than the purchase price plus costs, you receive back less than you invested.
There is no capital guarantee and no principal protection. Being under the SC's Regulatory Sandbox means the product is supervised — it does not mean losses are compensated.
Only invest what you can leave alone for the full period.