Stadium View
Student housing property in Ames, IA · sponsored by Arrimus Capital Advisors
Stadium View was a DST sponsored by Arrimus Capital Advisors that owned a student housing property in Ames, IA (197 units). Its last Form D was filed Feb 1, 2018.
How it ended
No public outcome foundThe record lists the offering as fully subscribed; the last Form D was filed Feb 1, 2018.
Key facts
A free account shows how much of each active offering has sold and the Sponsor Grade letters.- Minimum investment
- $25,000From the Form D
- Offering size
- $18,790,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Feb 1, 2018)Form D, Feb 1, 2018
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,813,235 · 9.6% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.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: Stadium View. Top1031 is not a broker-dealer.What did Stadium View own?
Stadium View Suites stands at 1206 S 4th Street, near the Iowa State University campus, with 518 beds across the community. 1 Arrimus Capital acquired the property in December 2017. 2 The trust that holds it was organized in Delaware in 2017. 3
- Reported location
- Ames, IA
- Property size
- 197 units
How was it financed, and what did it cost to sell?
The trust carries mortgage debt. The sponsor's original offering summary described a fixed-rate loan of $25,220,000 on the property, so investors hold equity that sits above a loan rather than an all-cash position. 4
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $1,813,235 · 9.6% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $4,869,936 · 25.9% of offeringForm D Item 16· The filing’s note: “ACA Stadium View Depositor, LLC will be responsible for paying certain fees and costs of approximately $3,202,061.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Orchard Securities, LLC · CRD 133378
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- 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 Stadium View?
Arrimus Capital Advisors sponsored this trust and is named as a promoter on its Form D. 3 Stadium View was the firm's first DST offering, reported as fully subscribed on June 18, 2018. 2 BRIX REIT bought about 31.6% of the trust's beneficial interests for $5,500,000 on April 23, 2018. 6 It sold the last of that stake on March 18, 2022 for $1,750,000, a sale of its own interest, not of the building. 7
- Sponsor
- Offerings on record
What does the SEC record show?
The interests were sold privately, without general advertising, to accredited investors who meet SEC income or net worth tests.
- Legal Trust name
- ACA Stadium View Student Housing DST
- SEC CIK
- 1728596
- First Form D
- Feb 1, 2018
- Latest Form D
- Feb 1, 2018
- Filings on record
- 1
- 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 | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $18,790,000 | $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 Stadium View?
- Stadium View is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Feb 1, 2018.
- What does ACA Stadium View Student Housing DST own?
- It owns Stadium View Suites, a 518-bed student housing community at 1206 S 4th Street in Ames, Iowa, within reach of the Iowa State University campus. Arrimus Capital's portfolio page describes the property, and a BRIX REIT application filed with the SEC identifies the trust as its owner. Arrimus acquired the property in December 2017.
- Who pays the rent, and how are the leases written?
- Students pay the rent, and the property's website advertises individual, rent-by-the-room leases, so each resident is responsible for a bed rather than a whole apartment. Arrimus Capital's original offering summary states the property would be subject to a master lease with a sponsor affiliate, and that the master lease would survive a sale of the property by the trust. The same summary names Asset Campus Housing as property manager.
- How was the purchase financed?
- With a mix of mortgage debt and investor equity. Arrimus Capital's original offering summary specifies a $25,220,000 fixed-rate loan and labels the acquisition cost at $44,010,000, a figure that includes the debt.
- Who is Arrimus Capital Advisors?
- Arrimus Capital Advisors is the real estate firm behind this trust and is named as a promoter on its Form D. Stadium View was the firm's first DST offering, which an industry announcement on June 18, 2018 reported as fully subscribed. That announcement also described the property as 99% occupied and more than 80% pre-leased for the 2018 to 2019 academic year.
- Did BRIX REIT's 2022 sale mean the property was sold?
- No. BRIX REIT's SEC filings describe the sale of BRIX's own beneficial interest in the trust, completed on March 18, 2022 for $1,750,000, after earlier partial sales on December 17, 2021 and January 31, 2022. The underlying building was not part of those transactions, and no sale of the property or liquidation of the trust has been reported.
- Is the property involved in a tax assessment dispute?
- Yes. The City of Ames assessor's 2025 open appeals list names ACA Stadium View Student Housing DST, doing business as Stadium View Suites at 1206 S 4th Street, as the appellant in an assessment appeal alleging the property was valued above market. The list schedules a Property Assessment Appeal Board hearing for December 2, 2026.
In the news
Sources
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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.