Top1031

Summit Ridge Apartments

Multifamily property in Lee'S Summit, MO · sponsored by Cantor Fitzgerald

HistoricalLast Form D, filed Mar 21, 2025, reports the offering fully sold (opens in a new tab)

Summit Ridge Apartments was a DST sponsored by Cantor Fitzgerald that owned a multifamily property in Lee'S Summit, MO (432 units). Its last Form D, filed Mar 21, 2025, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Mar 21, 2025, reports the offering fully sold.

Cantor Fitzgerald has 5 active offerings on record →

Key facts

Minimum investment
$250,000
From the Form D
Offering size
$45,060,000
Equity offered, per the Form D
Sold
100%
Form D, Mar 21, 2025; the % is our arithmetic
Investors reported
155
Form D, Mar 21, 2025
Selling commissions
$2,253,000 · 5.0% 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.
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: Summit Ridge Apartments. Top1031 is not a broker-dealer.

What did Summit Ridge Apartments own?

The community sits at 701 NE Tudor Road in Lee's Summit, Missouri, a suburb southeast of Kansas City. 1 Broker marketing material dates its construction to 2001. 2 JVM Management bought the property in 2018; a Cantor Fitzgerald affiliate acquired it in late September 2024, weeks before this Trust's first Form D filing. 1

Reported location
Lee'S Summit, MO
Property size
432 units (Class A garden-style apartment community)

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

The Trust's Form D filings do not disclose whether the property carries mortgage debt. Jackson County records reportedly show the buyer obtained a $50.2 million Freddie Mac loan in connection with Summit Ridge, which would make this a leveraged DST — one where a lender's mortgage sits ahead of investors. 1

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
$2,253,000 · 5.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$4,972,448 · 11.0% of offering
Form D Item 16
· The filing’s note: “Estimate of certain fees and expenses including Managing Broker-Dealer Fee, Marketing and Due Diligence Allowance, Offering & Organizational Expenses, Loan and Lender Expenses and Acquisition Fee, which may accrue to one or more related persons.”
Broker-dealers named in the Form D
28 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Oct 9, 2024
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.

What does the SEC record show?

The record consists of the initial Form D — the short notice a private issuer files with the SEC after its first sale — and one later amendment that updated the sales and investor totals. The Trust was offered privately rather than by general advertising, limiting it to accredited investors introduced through existing relationships.

Legal Trust name
CF Summit Ridge Multifamily DST
SEC CIK
2037062
First Form D
Oct 16, 2024
Latest Form D
Mar 21, 2025
Filings on record
2
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$45,060,000
$45,060,000+$44,195,584
155+152
EDGAR
Form D$45,060,000
$864,416
3
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 Summit Ridge Apartments?
Summit Ridge Apartments is a Historical offering. The last Form D, filed Mar 21, 2025, reports the offering fully sold.
Where is the property?
Summit Ridge Apartments is at 701 NE Tudor Road in Lee's Summit, Missouri, a suburb southeast of Kansas City. Independent reporting in the Kansas City Business Journal placed the 432-unit community at that address when a Cantor Fitzgerald affiliate acquired it in late September 2024. Broker marketing material dates the community's construction to 2001.
Does this DST use mortgage debt?
The Form D filings do not say. The Kansas City Business Journal reported that Jackson County records showed the buyer obtained a $50.2 million Freddie Mac loan in connection with Summit Ridge. Top1031's data field for leverage is marked unknown because no Trust-level loan disclosure was located, so the mortgage terms and the identity of the borrowing entity are not publicly established.
Who is the tenant?
There is no single tenant. This is a multifamily property, so its revenue comes from many individual apartment leases, generally about a year in length, rather than one corporate tenant on a long-term net lease. That means income depends on occupancy, rent levels, and turnover in the Lee's Summit rental market. No authoritative public occupancy rate was located.
What does it mean that the offering was made under Rule 506(b)?
Rule 506(b) is the private placement exemption that lets an issuer raise money without registering the offering, provided it does not advertise publicly. Investors are generally accredited — meeting SEC income or net-worth tests — and come in through existing relationships with the sponsor or a broker-dealer. The full terms of such an offering live in its offering documents, not in the Form D.

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.