AX DG St. Louis, DST
Net lease retail property in St. Louis, MO · sponsored by Apollo
AX DG St. Louis, DST was a DST sponsored by Apollo that owned a net lease retail property in St. Louis, MO. Its last Form D, filed Dec 19, 2025, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Dec 19, 2025, reports the offering fully sold.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $42,537,500Equity offered, per the Form D
- Sold
- 100%Form D, Dec 19, 2025; the % is our arithmetic
- Investors reported
- Form D, Dec 19, 202535
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,765,000 · 6.5% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: AX DG St. Louis, DST. Top1031 is not a broker-dealer.What did AX DG St. Louis, DST own?
Neither the Form D record nor the sponsor materials reviewed name a street address for the store; the collateral is identified only at the St. Louis market level. AltsWire's roundup of June 2025 DST fundraising described it as a single-tenant net-lease Dollar General offering from Apollo's exchange platform. 3 No year built, square footage, or acquisition date appears in the records reviewed.
- Property address
- Dollar General (St. Louis market), St. Louis, MO
- Property size
- 1 single-tenant Dollar General retail property
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
The public record reviewed does not state how this property was capitalized: no lender is named, and no mortgage or all-cash structure is disclosed. Whether the Trust carries debt is a question for the offering documents.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $2,765,000 · 6.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $497,500 · 1.1% of offeringForm D Item 16· The filing’s note: “Item 16 is an estimate of offering and organizational expenses that may accrue to one or more Related Persons.”
- Broker-dealers named in the Form D
- 4 named in the Form D
Show the firms
- Concorde Investment Services, LLC · CRD 151604
- FNEX Capital, LLC · CRD 166316
- Nationwide Planning Associates Inc. · CRD 31029
- Realized Financial, Inc. · CRD 22333
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jul 16, 2025
- Minimum investment
- $25,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind AX DG St. Louis, DST?
Apollo RE Exchange, LLC is the sponsor named in the Trust's Form D/A. 1 It runs Apollo Real Estate Exchange (AX), the firm's 1031 exchange DST program, under which this Trust was brought to market. AltsWire's July 1, 2025 summary of June DST fundraising listed this offering among the month's Apollo AX net-lease programs. 3
- Sponsor
- Offerings on record
What does the SEC record show?
Apollo filed an initial Form D — the short notice an issuer gives the SEC for a private placement — then amended it repeatedly, each amendment restating the offering's progress. 2 It is offered under Rule 506(b), which bars general advertising and limits sales to accredited investors reached through existing relationships.
- Legal Trust name
- AX DG St. Louis, DST
- SEC CIK
- 2075745
- First Form D
- Jul 30, 2025
- Latest Form D
- Dec 19, 2025
- Filings on record
- 7
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $42,537,500 | $42,537,500+$774,365 | 35+1 | EDGAR | |
| Form D/A | $42,537,500 | $41,763,135+$420,193 | 34+1 | EDGAR | |
| Form D/A | $42,537,500 | $41,342,942+$14,402,511 | 33+10 | EDGAR | |
| Form D/A | $42,537,500 | $26,940,431+$19,192,774 | 23+7 | EDGAR | |
| Form D/A | $42,537,500 | $7,747,657+$3,770,821 | 16+9 | EDGAR | |
| Form D/A | $42,537,500 | $3,976,836+$3,553,919 | 7+6 | EDGAR | |
| Form D | $42,537,500 | $422,917 | 1 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- What happened to AX DG St. Louis, DST?
- AX DG St. Louis, DST is a Historical offering. The last Form D, filed Dec 19, 2025, reports the offering fully sold.
- What does AX DG St. Louis, DST actually own?
- One single-tenant Dollar General retail property in the St. Louis, Missouri market, held in a Delaware statutory trust. The public filings reviewed identify the location only at the market level — no street address, square footage, or year built appears in the record.
- What does "net lease" mean for me as an investor here?
- In a net-lease structure, the tenant — here, Dollar General — pays operating costs such as property taxes, insurance, and maintenance in addition to rent, rather than the landlord. The specific lease term, escalation schedule, and expiration date are not disclosed in the records reviewed, so those belong in the offering-document review.
- Is the Trust leveraged?
- Not stated. The filings and sponsor materials reviewed name no lender and disclose no mortgage debt or all-cash structure. Leverage is one of the first items to confirm in the offering documents, because it affects both the debt replacement requirement in a 1031 exchange and the risk profile of the investment.
- Could this Trust convert into a REIT through a 721/UPREIT exit?
- The filing record for this Trust does not indicate a 721/UPREIT exit — a structure in which DST investors contribute the property to a REIT's operating partnership in exchange for partnership units. No completed sale, disposition, or conversion has been reported for this Trust in the records reviewed.
In the news
Sources
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These links support the record as a whole; individual details may come from different sources.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.