Asheville NC Apartment Portfolio
Multifamily property in Asheville, NC · sponsored by Capital Square
Asheville NC Apartment Portfolio was a DST sponsored by Capital Square that owned a multifamily property in Asheville, NC (305 units). Its last Form D was filed Sep 23, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed Sep 23, 2022.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $73,090,000Equity offered, per the Form D
- Sold
- Not reported in its Form D filings (latest Sep 23, 2022)Form D, Sep 23, 2022
- Selling commissions
- Form D Item 15; the % is our arithmetic$6,212,650 · 8.5% of offering
- 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(c)May be advertised publicly. Every buyer’s accredited status must be verified.
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: Asheville NC Apartment Portfolio. Top1031 is not a broker-dealer.Asheville NC Apartment Portfolio · Asheville, NC · Photo: capitalsq.com
What did the Trust own?
Capital Square acquired the two-property portfolio in September 2022: River Mill Lofts at 100 River Mill Drive and Skyloft Apartments at 500 S Skyloft Drive, sitting on 10.887 acres close to downtown Asheville. 1 Michael Saclarides, Devin Bryan, and Jacqui Aaron of Cushman & Wakefield brokered the sale. Hurricane Helene caused catastrophic flooding and damage at River Mill Lofts in September 2024. 2 Griffin reported on July 10, 2026 that rebuilding was progressing. 3
- Reported location
- Asheville, NC
- Property size
- 305 units (River Mill Lofts: 253 units; Skyloft Apartments: 52 units)
How was it financed, and what did it cost to sell?
The Trust's Form D filings say nothing about debt, and no public source reviewed establishes whether the properties were bought with a mortgage or all-cash. Any loan terms would appear in the offering documents.
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
- $6,212,650 · 8.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,413,530 · 3.3% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Wealthforge Securities, LLC · CRD 152550
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $50,000
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 the Trust?
Capital Square is a real estate sponsor based at 10900 Nuckols Road in Glen Allen, Virginia, and a long-running issuer of DST offerings for 1031 exchange investors. 5 The Trust's Form D named Capital Square Realty Advisors, LLC as promoter, CSRA Manager, LLC as a director, and Louis Rogers as an executive officer. 6 A Marsh McLennan case study dated May 12, 2026 described Capital Square's insurance claim, flood response, and tenant support after Hurricane Helene struck River Mill Lofts. 2
- Sponsor
- Offerings on record
What does the SEC record show?
Capital Square filed the Trust's initial Form D — the brief SEC notice for an exempt private offering — in September 2022 and amended it days later without changing the offering size or minimum investment. Nothing further has been filed on EDGAR. Rule 506(c) permits general advertising so long as every investor's accredited status is verified.
- Legal Trust name
- CS1031 Asheville NC Apartment Portfolio, DST
- SEC CIK
- 1946502
- First Form D
- Sep 13, 2022
- Latest Form D
- Sep 23, 2022
- Filings on record
- 2
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D/A | $73,090,000 | $0 | EDGAR | |
| Form D | $73,090,000 | $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 Asheville NC Apartment Portfolio?
- Asheville NC Apartment Portfolio is a Historical offering. Last Form D filed Sep 23, 2022.
- What does this Trust actually own?
- Two apartment communities in Asheville, North Carolina, acquired by Capital Square in September 2022: River Mill Lofts at 100 River Mill Drive and Skyloft Apartments at 500 S Skyloft Drive, together on 10.887 acres near downtown Asheville. Capital Square described the portfolio as 305 apartment homes across the two properties.
- Who is the tenant, and how is the property operated?
- No public source reviewed names a master tenant or spells out lease terms for this Trust. Capital Square's offering materials describe a master tenant arrangement in generic terms only. An investor would need the offering documents to see the actual lease.
- Is the Trust leveraged?
- Not established in the public record. The Form D filings disclose no debt, and no reviewed sponsor or trade-press source states a purchase price, loan amount, or loan-to-value for the Asheville portfolio.
- Could this Trust convert into a REIT interest?
- The record for this Trust does not indicate a 721/UPREIT exit — the structure in which DST investors contribute their property interest to a REIT's operating partnership in exchange for OP units. Any exit path would be described in the offering documents.
In the news
Sources
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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.