Riverworks
Multifamily property in Phoenixville, PA — sponsored by Cantor Fitzgerald
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
CF Riverworks Multifamily DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold a fractional interest in real estate — sponsored by Cantor Fitzgerald.1 It holds Riverworks, a Class A apartment community in Phoenixville, Pennsylvania, northwest of Philadelphia.2 The SEC record contains one Form D and no amendment; a marketplace listing now describes the offering as closed to new investors.5
Minimum investment
$250k
Offering size
$52.3M
How much has sold
None sold yet
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
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
Who is the tenant, and what's the lease?
Riverworks is an apartment community, so there is no single credit tenant behind the rent: income comes from many individual resident leases on short terms rather than one long-term corporate lease. Research did not locate a primary trust record identifying a master tenant or the property manager.
How did it end?
Still operating
Listed as a completed/full-cycle program on Cantor Fitzgerald's published track record.
349-unit Class A multifamily community built 2017 in Phoenixville, PA; 94.8% occupied; offering size $104.275M (equity $52.275M), 10-yr Fixed/10-yr IO at 5.71%, LTV 49.87%, min investment $250,000. Property acquired by Cantor Fitzgerald for $90.3M from Pantzer Properties in May 2024; re-transition listing marks status as Closed Offering. Located within Upper Chester County submarket, one mile from historic downtown Phoenixville across Schuylkill River footbridge.
349 unitsSupporting evidence
Counted on Cantor Fitzgerald’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
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.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
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. Research through September 6, 2026 surfaced no entity-specific sponsor development bearing on this Trust.
- Sponsor
- Cantor Fitzgerald
- May convert to a REIT
- No
- Offerings from this sponsor
- 5 active / 22 total offerings from Cantor Fitzgerald
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
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.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- CF Riverworks Multifamily DST
- Filings on record
- 1
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
What happened to Riverworks?
Top1031 lists Riverworks in the Historical cohort because its latest filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Riverworks?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Is this Trust still open to new investors?
The status is unresolved on the public record. The SEC file holds a single Form D filed May 2, 2024, with no amendment since, so nothing on EDGAR reports a close. The Real Estate Transition Solutions marketplace listing labels the property status "Closed Offering."[5] Treat any secondary listing as a marketplace claim, not a filed record.
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.[3] Vista.Today reported Pantzer Properties as the seller.[4] 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 private placement memorandum (PPM), the offering's governing disclosure document, controls the actual subscription terms.
How occupied is the property?
The Real Estate Transition Solutions marketplace listing reports Riverworks as 94.8% occupied.[5] The listing carries no date and no rent roll, and research located no primary or dated occupancy record, so treat the figure as a marketplace claim rather than a verified operating statistic.
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%.[5] Those are secondary marketplace figures; the loan documents and the PPM 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.
Chapter 9New York firm pays $90M for Phoenixville apartment complexCantor Fitzgerald bought the 349-unit Riverworks complex from Pantzer Properties for $90.3M in Chester County property records. Toll Brothers Apartment Living in a Joint Venture with The Davis Companies Announces Opening of Riverworks, a New Luxury Rental Community in Phoenixville, PAOriginal developer announcement for Riverworks, a 349-unit luxury apartment community at 45 North Main Street in Phoenixville, PA built by Toll Brothers Apartment Living and The Davis Companies.