Riverworks
Multifamily property in Phoenixville, PA · sponsored by Cantor Fitzgerald
Riverworks was a DST sponsored by Cantor Fitzgerald that owned a multifamily property in Phoenixville, PA (349 units). Its last Form D was filed May 2, 2024.
How it ended
No outcome recorded · under 7 years
Last Form D filed May 2, 2024.
Key facts
- Minimum investment
- $250,000From the Form D
- Offering size
- $52,275,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (May 2, 2024)Form D, May 2, 2024
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,613,750 · 5.0% 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 →
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: Riverworks. Top1031 is not a broker-dealer.What did Riverworks own?
Riverworks opened for leasing in June 2016, developed by Toll Brothers Apartment Living in a joint venture with The Davis Companies at 45 North Main Street in Phoenixville. 2 The community sits about a mile from downtown Phoenixville, across a Schuylkill River footbridge. The Philadelphia Business Journal reported on May 16, 2024 that an entity tied to Cantor Fitzgerald paid $90.3 million for the six-building complex. 3 Vista.Today reported the seller as Pantzer Properties. 4
- Reported location
- Phoenixville, PA
- Property size
- 349 units
How was it financed, and what did it cost to sell?
The Trust carries mortgage debt rather than owning the property free and clear, which matters to an exchanger whose relinquished property had a loan to replace. The Form D on file does not name a lender or describe the loan.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $2,613,750 · 5.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $5,703,425 · 10.9% of offeringForm 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 & Acquisition Fee, which may accrue to one or more related persons.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Cantor Fitzgerald & Co. · CRD 134
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- 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. The issuer marked these amounts as an estimate.
Who's behind Riverworks?
The Form D names Cantor Fitzgerald Investors, LLC as the sponsor of this Trust. 1 Cantor Fitzgerald is a New York–based financial services firm whose asset management arm sponsors 1031 exchange programs alongside its broader institutional real estate businesses.
- Sponsor
- Offerings on record
What does the SEC record show?
No amendment has followed the original Form D notice, so nothing in the SEC record updates the offering's progress or its close. Rule 506(b) means the Trust may be offered privately, without public advertising, to accredited investors — those meeting SEC income or net-worth tests — who already have a relationship with the sponsor or its selling group.
- Legal Trust name
- CF Riverworks Multifamily DST
- SEC CIK
- 2021468
- First Form D
- May 2, 2024
- Latest Form D
- May 2, 2024
- 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 | $52,275,000 | $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 Riverworks?
- Riverworks is a Historical offering. Last Form D filed May 2, 2024.
- What did Cantor Fitzgerald pay for Riverworks, and from whom?
- The Philadelphia Business Journal reported on May 16, 2024 that an entity tied to Cantor Fitzgerald paid $90.3 million for the six-building Phoenixville apartment complex. Vista.Today reported Pantzer Properties as the seller. No primary deed or closing record was located tying that purchase specifically to CF Riverworks Multifamily DST, so the buying entity's exact identity remains unconfirmed.
- What is the minimum investment?
- The Form D filed May 2, 2024 reports a minimum outside-investor investment of $250,000. That is the filed figure; the offering documents control the actual subscription terms.
- How occupied is the property?
- The Real Estate Transition Solutions marketplace listing reports Riverworks as 94.8% occupied.
- What does the public record say about the loan?
- The Form D itself says nothing about the mortgage. The Real Estate Transition Solutions marketplace listing describes 10-year fixed-rate, 10-year interest-only financing at 5.71% with a loan-to-value ratio of 49.87%. Those are secondary marketplace figures; the loan documents and the offering documents are the controlling sources.
- Can this Trust convert into REIT shares at exit?
- Top1031's record marks no 721/UPREIT exit for this Trust — that is the structure where a DST's property is contributed to a REIT's operating partnership in exchange for units, deferring tax but ending direct 1031 eligibility. Nothing in the Form D describes such a conversion.
In the news
Sources
Show sources (9)Hide sources (9)
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.