Top1031

Cacema Townhomes

Multifamily property in Kissimmee, FL · sponsored by Capital Square

Active offeringLatest Form D filed Jun 15, 2026 (opens in a new tab)

Cacema Townhomes is a DST sponsored by Capital Square that owns a multifamily property in Kissimmee, FL (176 units). Its latest Form D, filed Jun 15, 2026, lists a $41.8 million offering with a $50,000 minimum.

Key facts

Minimum investment
$50,000
From the Form D
Offering size
$41,850,000
Equity offered, per the Form D
Sold so far
None reported as of Jun 15, 2026
Form D, Jun 15, 2026
Selling commissions
$3,515,400 · 8.4% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
How it is financed ↓
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Sponsor buyout right
Yes
Offering documents, May 2026 · Deal terms ↓

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 →

Sales so far

Latest Form D
Jun 15, 2026 · 1 filing

No sales reported in a Form D amendment yet. Latest notice Jun 15, 2026.

Weighing this offering for your exchange? A licensed 1031 specialist from our affiliated partner can go through these filings with you.

Ask a 1031 specialist about this recordFree. About: Cacema Townhomes. Top1031 is not a broker-dealer.
Cacema Townhomes image 1 of 2

Cacema Townhomes · Kissimmee, FL · Photo: cdngeneral.rentcafe.com

Location map2670 Meadow Creek Road, Kissimmee, FLAddress matched to a cited source

What does Cacema Townhomes own?

A newly built rental townhome community in the Orlando metro, with three- and four-bedroom homes and attached garages. The offering documents say the community was completed in 2024 and that the Trust bought it from an unaffiliated seller on May 19, 2026 for $65,200,000. 1 JLL announced on May 26, 2026 that the sale of the same community had closed and named Capital Square, LLC as buyer. 2

Property address
2670 Meadow Creek Road, Kissimmee, FL
Property size
176 units

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

Leveraged, not all-cash: a nonrecourse mortgage from Walker & Dunlop sits ahead of investor equity, and the lender's remedy runs to the property, not to investors personally. The memorandum describes $33,405,000 of original principal, interest-only for eight years, with an initial maturity of June 1, 2036. 1

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.
May convert to a REIT (721)
See Deal terms ↓
Target hold
10 years From Capital Square’s offering documents (May 2026). As reported by the sponsor.

Costs and terms from the Form D

Selling commissions
$3,515,400 · 8.4% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,713,050 · 4.0% of offering
Form D Item 16
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

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.

What are the deal terms?

From Capital Square’s offering documents (May 2026).

Your exit

Can the sponsor's affiliate buy investors out?
Yes

Rent and the bills

Who pays rent to the trust?
A master tenant affiliated with the sponsor
Who pays for roof and structural repairs?
Investors, through the trust
Who pays if taxes or insurance go up?
Investors, through the trust
Was the property bought from a sponsor affiliate?
No

Your rights

Can investors remove the manager?
No
How are disputes with the sponsor resolved?
Mandatory arbitration

What does the SEC record show?

A Form D, the notice an issuer files as a private placement begins, opened the offering. 4 It is sold under the rule that permits public advertising, so Capital Square must verify that each buyer is an accredited investor, one meeting SEC income or net-worth tests; the filing set a $50,000 minimum. 4

Legal Trust name
CS1031 Cacema Townhomes, DST
SEC CIK
2140598
First Form D
Jun 15, 2026
Latest Form D
Jun 15, 2026
Filings on record
1
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$41,850,000
$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

Is Cacema Townhomes an active offering?
Cacema Townhomes is an Active offering: its latest Form D was filed Jun 15, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
Does Cacema Townhomes have a 721 UPREIT exit?
The record lists a possible 721 exit for Cacema Townhomes. It is an option, not a completed transaction; the offering documents set whether and when it can happen. 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 does this Trust actually own?
One build-for-rent townhome community, Cacema Townhomes, at 2670 Meadow Creek Road in Kissimmee, Osceola County, Florida, inside the greater Orlando market. The Trust's offering documents identify 176 townhomes completed in 2024, with three- and four-bedroom floor plans and attached garages. It is a young community with a short operating history.
Who is the tenant, the residents or a master tenant?
Both, in effect. Residents sign leases on individual townhomes, and the memorandum states the Trust leased the entire property to CS1031 Cacema Townhomes Master Lessee, LLC, an indirect wholly owned subsidiary of the sponsor, for an initial ten-year term beginning at acquisition, with three optional five-year renewals exercisable by the master tenant. The memorandum also says the master tenant may defer up to half of monthly annual rent under stated conditions, with deferred amounts accruing interest at 3% a year.
How is the property financed?
With mortgage debt rather than all cash. The memorandum describes a $33,405,000 nonrecourse loan from Walker & Dunlop at a fixed rate, with eight initial interest-only years and an initial maturity of June 1, 2036. Nonrecourse means the lender's remedy runs to the property, not to investors personally. The memorandum also measures initial loan-to-investment-cost at roughly 44.39%, a ratio taken against total investment cost rather than against the property's purchase price.
What did the Trust pay for the property?
The memorandum states the Trust acquired Cacema Townhomes from an unaffiliated seller on May 19, 2026 for $65,200,000, within a maximum offering investment cost of $75,255,000 that also covers estimated debt and offering costs. JLL, which advised on the transaction, announced on May 26, 2026 that the sale of the same 176-unit community had closed and identified Capital Square, LLC as the buyer rather than the DST.
Is the community fully leased?
Not as of the most recent dated measurement in the sponsor's document. The memorandum reports the property was approximately 87% occupied as of May 8, 2026, while completing its initial lease-up. The sponsor also carries a stabilized occupancy assumption, which is a forecast rather than an achieved result, and is not restated here.
Who manages the property day to day?
Capital Square affiliates. The memorandum states the master tenant engaged Capital Square Asset Management, LLC under a property-management agreement, and that Capital Square Living, LLC was designated the initial on-site manager under a sub-management arrangement. Both are affiliated with the sponsor, so leasing, maintenance and resident services sit inside the Capital Square organization rather than with a third-party operator.

In the news

Cacema TownhomesYield PRO covers the launch of the DST offering and the townhome community’s floor plans and amenities.
Yield PRO ↗

Sources

Show sources (6)Hide sources (6)

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.