Top1031

Palms Property

Multifamily property in Houston, TX · sponsored by Cantor Fitzgerald

Historical · convertedConverted into REIT units (721 exchange) Feb 2026, as reported by Cantor Fitzgerald · last Form D Apr 3, 2023Sponsor source (opens in a new tab)

Palms Property was a DST sponsored by Cantor Fitzgerald that owned a multifamily property in Houston, TX. Converted into REIT units (721 exchange) Feb 2026, as reported by Cantor Fitzgerald.

How it ended

Moved into a REIT, per the REIT's SEC filing

Converted into REIT units (721 exchange) Feb 2026.

Date
Feb 1, 2026

Sponsor document (opens in a new tab)

Cantor Fitzgerald has 5 active offerings on record →

Key facts

Minimum investment
$250,000
From the Form D
Offering size
$32,570,000
Equity offered, per the Form D
Sold
100%
Form D, Apr 3, 2023; the % is our arithmetic
Investors reported
52
Form D, Apr 3, 2023
Selling commissions
$1,628,500 · 5.0% of offering
Form D Item 15; the % is our arithmetic
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 →

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: Palms Property. Top1031 is not a broker-dealer.

What did Palms Property own?

The Trust holds a single multifamily residential community — one asset, not a portfolio. It was purchased on August 31, 2022 for approximately $48.0 million, exclusive of closing costs. 2 Cantor Fitzgerald Income Trust's SEC filings describe the property as 222,672 square feet. 3 No filing reviewed discloses a street address, unit count, or year built.

Reported location
Houston, TX

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

This is a leveraged Trust — mortgage debt sits alongside investor equity, so the lender is repaid before owners. Cantor Fitzgerald Income Trust filings identify a $20,000,000 loan on the Palms Property from JPMorgan Chase Bank, scheduled to mature September 1, 2032. 5

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.
Converted to a REIT (721)
Yes: converted into REIT units Feb 2026
Sponsor document

Costs and terms from the Form D

Selling commissions
$1,628,500 · 5.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$2,715,917 · 8.3% of offering
Form D Item 16
· The filing’s note: “Estimate of certain fees & expenses including Managing Broker-Dealer Fee, Marketing & Due Diligence Allowance, Offering & Organizational Expenses, Loan & Lender Expenses, Closing Costs and Structuring Fee, which may accrue to one or more related persons.”
Broker-dealers named in the Form D
17 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Sep 30, 2022
Minimum investment
$250,000

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.

What does the SEC record show?

Each amendment restated the raise as it filled, and the last one reported the offering fully subscribed. 7 That final filing also listed a slightly different offering total than the earlier ones — a discrepancy left standing in the record rather than explained. 7 The offering was private rather than advertised, open only to accredited investors.

Legal Trust name
CF Palms Multifamily DST
SEC CIK
1946905
First Form D
Sep 20, 2022
Latest Form D
Apr 3, 2023
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$32,570,000
$32,570,000+$243,070
52+1
EDGAR
Form D/A$32,570,000
$32,326,930+$1,546,188
51+5
EDGAR
Form D/A$32,570,000
$30,780,742+$30,780,742
46
EDGAR
Form D$32,570,000
$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 Palms Property?
Palms Property is a Historical offering. Converted into REIT units (721 exchange) Feb 2026, as reported by Cantor Fitzgerald.
Did Palms Property convert into REIT units through a 721 exchange?
Converted into REIT units (721 exchange) Feb 2026, as reported by Cantor Fitzgerald. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
How a DST-to-721 UPREIT exit works
What happened with the Cantor Fitzgerald Income Trust tender offer?
On February 1, 2026, Palms DST interests were among several DSTs included in a tender-offer exchange with Cantor Fitzgerald Income Trust. That is the 721/UPREIT path: DST holders swap their interests for units in a REIT's operating partnership, which defers tax but ends direct real estate ownership and future 1031 eligibility. As of March 31, 2026, the operating partnership held 22.58% of the Trust and consolidated it in its financial statements.
Why is there so little property detail?
SEC filings describe the asset only as the Palms Property, a multifamily residential property in Houston, Texas, reported at 222,672 square feet. Research as of August 27, 2026 found no authoritative source giving a street address, unit count, year built, or property-specific occupancy. Those fields remain unresolved and were not filled in from similarly named Houston properties.
Is there litigation involving this Trust?
The White Law Group, a securities law firm, published a page dated April 21, 2025 discussing investor lawsuits and citing the Trust's raise; pages of that type are generally claim solicitations aimed at investors.
Who owns the property and who runs the Trust?
The Trust itself owns the property. Cantor Fitzgerald Investors, LLC is the sponsor, CF Palms Depositor, LLC the depositor, and CF Palms Manager, LLC the administrative trustee. Under DST rules the trustee's powers are deliberately limited, so investors are passive owners with no management role.
What debt sits on the property?
Cantor Fitzgerald Income Trust's SEC filings report a $20,000,000 Palms Loan from JPMorgan Chase Bank, requiring monthly interest payments and maturing September 1, 2032. Because the loan is fixed-rate and interest-only per that disclosure, the principal balance is scheduled to come due at maturity, when the property would need to be sold or the debt refinanced.

In the news

Sources

Show sources (11)Hide sources (11)

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.