Top1031

ADREX Diversified 3 DST

Multifamily property · sponsored by Ares (ADREX)

HistoricalLast Form D, filed Mar 19, 2024, reports the offering fully sold (opens in a new tab)

ADREX Diversified 3 DST was a DST sponsored by Ares (ADREX) that owned a multifamily property. Its last Form D, filed Mar 19, 2024, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Mar 19, 2024, reports the offering fully sold.

Ares (ADREX) has 4 active offerings on record →

Key facts

Minimum investment
$500,000
From the Form D
Offering size
$223,800,000
Equity offered, per the Form D
Sold
100%
Form D, Mar 19, 2024; the % is our arithmetic
Investors reported
156
Form D, Mar 19, 2024
Selling commissions
$12,330,579 · 5.5% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: ADREX Diversified 3 DST. Top1031 is not a broker-dealer.

What did ADREX Diversified 3 DST own?

The Trust's Form D filings name no property, address, or market, and no acquisition date, purchase price, or unit count for the Diversified 3 portfolio appears in the public record. The only asset-class signal is the ADREX program's own description of itself as focused on professionally managed multifamily communities in high-demand U.S. markets. That leaves the specific buildings behind this Trust unidentified.

How was it financed, and what did it cost to sell?

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
$12,330,579 · 5.5% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$10,480,993 · 4.6% of offering
Form D Item 16
· The filing’s note: “Estimate includes Dealer Manager Fee, Facilitation Fee and Organizational Exp. and RE Transaction Cost Allowance”
Broker-dealers named in the Form D
16 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
May 2, 2023
Minimum investment
$500,000

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.

What does the SEC record show?

The initial Form D reported that the first sale had yet to occur and identified equity securities. 3 A later amendment reported a $246,611,570 offering and a first sale date of May 2, 2023. 4 The final amendment restated the offering at the lower original figure and is the last issuer filing on record. 1

Legal Trust name
ADREX Diversified 3 DST
SEC CIK
1970105
First Form D
Mar 20, 2023
Latest Form D
Mar 19, 2024
Filings on record
4
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$223,800,000was $246,611,570
$223,800,000+$166,970,952
156+114
EDGAR
Form D/A$246,611,570
$56,829,048+$56,829,048
42
EDGAR
Form D/A$246,611,570was $223,800,000
$0
EDGAR
Form D$223,800,000
$0
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 ADREX Diversified 3 DST?
ADREX Diversified 3 DST is a Historical offering. The last Form D, filed Mar 19, 2024, reports the offering fully sold.
What property does ADREX Diversified 3 DST own?
The public record does not say. The Trust's Form D filings disclose no property name, address, city, or state, and no trade press or sponsor release identifying the Diversified 3 portfolio was located. The offering is categorized as multifamily, consistent with the ADREX program's stated focus on professionally managed multifamily communities in high-demand U.S. markets, but no specific community has been matched to this Trust.
How is it financed, and is there a lender?
Unknown from the public record. The Form D filings for this Trust do not disclose capitalization, a lender, loan amount, maturity, or loan-to-value, and no third-party source establishing them was located. Leverage is therefore recorded as unknown rather than assumed. The offering documents issued at the time of the offering would be the documents that set out the debt structure.

Sources

Show sources (7)Hide sources (7)

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.