Brighton Woodstock (Brighton Townhomes)
Build-for-rent property in Acworth, GA · sponsored by Capital Square
Historical · convertedConverted into REIT units (721 exchange) Jan 2026, as reported by Capital Square · last Form D Jan 25, 2023Sponsor source (opens in a new tab)
Brighton Woodstock (Brighton Townhomes) was a DST sponsored by Capital Square that owned a build-for-rent property in Acworth, GA. Converted into REIT units (721 exchange) Jan 2026, as reported by Capital Square.
How it ended
Moved into a REIT, value not stated
Converted into REIT units (721 exchange) Jan 2026.
- Date
- Jan 28, 2026
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $22,530,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Jan 25, 2023)Form D, Jan 25, 2023
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,915,050 · 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: Brighton Woodstock (Brighton Townhomes). Top1031 is not a broker-dealer.What did the Trust own?
Brighton Woodstock, leased to residents as Brighton Townhomes, sits at 5900 Woodstock Road in Acworth, Georgia, roughly five miles from Kennesaw State University. 1 Construction finished in 2022, and Capital Square bought the newly completed community in January 2023 for this Trust. 2 Capital Square Living, the sponsor's own management arm, lists the community in its resident-facing directory. 3
- Reported location
- Acworth, GA
- Property size
- 100-unit build-for-rent townhome community
How was it financed, and what did it cost to sell?
The Form D does not report whether the Trust used debt, and the sponsor's public materials in the pipeline record do not resolve it. Trade press reported that before the sale the community carried a $2.6 million construction loan from Lime One Capital, a detail attributed to Yardi Matrix. 2
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
- Converted to a REIT (721)
- Yes: converted into REIT units Jan 2026
Costs and terms from the Form D
- Selling commissions
- $1,915,050 · 8.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,029,000 · 4.5% 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 Glen Allen, Virginia sponsor of Delaware Statutory Trusts and related private real estate programs, active mainly in Sun Belt apartments and build-for-rent housing. 5 On January 28, 2026, the sponsor announced it had completed a 721 UPREIT transaction for this Trust's investors, swapping their DST interests for REIT ownership; that release said the property outperformed its offering-document pro forma by more than 17% on income and nearly 30% on net operating income over the hold period.
- Sponsor
- Offerings on record
What does the SEC record show?
The SEC record here is a single Form D new notice, filed before the first sale and never amended, so the raise's progress was reported by the sponsor rather than by later filings. 5 Rule 506(c) allowed the Trust to advertise publicly, provided every buyer was a verified accredited investor.
- Legal Trust name
- CS1031 Brighton Woodstock BFR Housing, DST
- SEC CIK
- 1963107
- First Form D
- Jan 25, 2023
- Latest Form D
- Jan 25, 2023
- Filings on record
- 1
- 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 | $22,530,000 | $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 Brighton Woodstock (Brighton Townhomes)?
- Brighton Woodstock (Brighton Townhomes) is a Historical offering. Converted into REIT units (721 exchange) Jan 2026, as reported by Capital Square.
- Did Brighton Woodstock (Brighton Townhomes) convert into REIT units through a 721 exchange?
- Converted into REIT units (721 exchange) Jan 2026, as reported by Capital Square. 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 is a build-for-rent community?
- Build-for-rent (BFR) means single-family homes or townhomes constructed specifically as rentals and operated as one professionally managed community, rather than sold off individually to homeowners. Brighton Woodstock is a townhome BFR community in Acworth, Georgia, whose construction finished in 2022 before Capital Square acquired it in January 2023.
- Who was the tenant?
- Residents on individual apartment-style leases, not a corporate tenant. As is standard in a DST, the Trust leased the property to a Master Tenant that handled rent collection, leasing, management and maintenance; the offering materials note the Master Tenant is capitalized from property cash flow and that the sponsor is not required to contribute capital to it.
- Why does the SEC filing show no sales?
- The single Form D was filed on January 25, 2023, before the first sale of interests, and it was never amended. Sponsors are not required to amend a Form D simply because a raise fills, so the SEC record froze at the day-one snapshot while Capital Square reported full subscription separately in August 2023.
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.