Le Meridien Fort Worth Downtown
Hospitality - full-service hotel (zero-coupon ground-lease DST) property in Fort Worth, TX — sponsored by Capital Square
Files with the SEC as CS1031 Zero Coupon DFW Hospitality, DST
Minimum investment
$50k
Offering size
$9.2M
How much has sold
None sold yet
Asset type
Hospitality - full-service hotel (zero-coupon ground-lease DST) property
Location
Fort Worth, TX
Financing
Zero coupon. Cash flow from the property goes to servicing the debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
This Trust owns the land beneath a Fort Worth hotel, not the hotel itself. Capital Square's Delaware statutory trust — fractional real estate ownership that qualifies for 1031 exchange treatment — holds fee-simple title to the roughly 0.92-acre site, the ground landlord's interest in the ground lease, and a reversionary interest in the improvements, a Le Méridien hotel.1 It is zero coupon: no distributions before disposition.1
Zero-coupon: no distributions until disposition; highly leveraged; 100% leased to single ground tenant; 313 parking spaces; 0.92-acre site
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These links support the public record as a whole; individual details may come from different 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?
Capital Square did not buy the hotel; it bought the ground beneath it and the landlord's position in the lease over it.1 The building is the former Hotel Texas Annex, vacant for nearly two decades before its conversion, and Hotel Dive reported that Remington Hospitality would manage the hotel.4 It opened as Le Méridien Fort Worth Downtown on August 29, 2024.5 Capital Square's brochure gives the acquisition date as August 19, 2025.3
- Property address
- 815 Commerce Street, Fort Worth, TX
- Property size
- 188 rooms / 254,778 SF, 14 stories
Who is the tenant, and what's the lease?
Capital Square's offering materials name 815 Commerce LLC as the ground tenant, state that it owns all improvements on the land, and describe the property as 100% leased to that single tenant.1 The lease is a 99-year unsubordinated ground lease with 95 years remaining as of September 3, 2025 — unsubordinated meaning the land position ranks ahead of the leasehold.2
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
The sponsor reported this offering sold out without filing per-sale amendments, so there is no raise history to show.
How is it financed, and what does it pay?
Zero coupon means the ground rent goes to servicing the mortgage rather than to investors during the hold, so capital comes back, if at all, only on a sale or refinancing.1 The lender is not identified in the brochure extract reviewed.3
- Financing
- Zero coupon. Cash flow from the property goes to servicing the debt.
- Loan-to-value
- 77.78capitalsq.com
Who's behind it?
Capital Square is a repeat sponsor of 1031 exchange DST programs, and here it takes the ground-landlord position rather than owning or operating a hotel. It announced the Fort Worth ground-lease purchase on behalf of this Trust on September 3, 2025.2 On August 25, 2026 the firm added Phillip Jensen as senior vice president of national accounts, covering the Northwest and working with broker-dealers and registered investment advisers on its platform of tax-advantaged offerings.
- Sponsor
- Capital Square
- Legal Trust name
- CS1031 Zero Coupon DFW Hospitality, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 28 total offerings from Capital Square
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The original Form D — the brief notice an issuer files with the SEC for an unregistered offering — has never been amended, so the subscription figures in the SEC file still date from launch. The exemption claimed permits general advertising while limiting purchasers to verified accredited investors, those meeting SEC income or net-worth tests.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- 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
Is Le Meridien Fort Worth Downtown still raising money?
Top1031 lists Le Meridien Fort Worth Downtown as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Le Meridien Fort Worth Downtown?
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.
What does the Trust actually own — the hotel or the land?
The land and the landlord's position over it. Capital Square's offering page states the Trust was formed to hold fee-simple title to an approximately 0.92-acre site at 815 Commerce Street in Fort Worth, the ground-landlord interest in the existing ground lease, and a reversionary interest in the improvements — the Le Méridien hotel.[1] The improvements themselves belong to the ground tenant, 815 Commerce LLC.[1]
Why does this offering pay no distributions?
It is a zero-coupon structure. Capital Square's offering materials state that because the property is highly leveraged, it will produce no distributions to purchasers before disposition — the ground rent services the debt instead.[1] Capital Square's brochure reports a $32,300,000 principal balance at closing against a $41,530,000 investment cost, a 5.81% initial blended interest rate and a November 15, 2061 maturity.[3] Investors in such structures look to a sale or refinancing rather than to ongoing income.
Who operates the hotel, and under what brand?
Not the Trust. Capital Square's brochure states that the hotel operator is an affiliate of the ground tenant and entered a 25-year franchise agreement with Marriott International to operate the renovated hotel under the Le Méridien brand.[3] Hotel Dive reported that Remington Hospitality would manage the property.[4] Lodging Magazine reported on August 6, 2026 that Remington's in-house social media team took over the hotel's accounts four months after opening. The Trust is landlord of the land, not the hotel operator.
Does "100% leased to a single tenant" mean the hotel is full?
No. That phrase refers to the land being leased to one ground tenant, not to guest-room occupancy. Capital Square's September 3, 2025 announcement describes the property as subject to a 99-year unsubordinated ground lease with 95 years remaining and 2% annual rent increases, and states the property is 100% leased to a single tenant.[2] No guest-room occupancy percentage or hotel operating result for this property appears in the exact-entity materials reviewed.
Is the Offering still open to new investors?
This record lists the raise as fully subscribed. No amendment to the original Form D has been filed to update the offering, and no primary closing record was located in the sources reviewed as of August 31, 2026 — Capital Square's March 11, 2026 completion release named three other programs, not this one. Confirm current availability with the sponsor or your broker-dealer.
What happens to the land position if the hotel underperforms?
The Trust's contractual income is land rent from the ground tenant rather than hotel revenue, and Capital Square describes the lease as unsubordinated, which places the land position ahead of the tenant's leasehold interest.[2] How hotel performance could reach the land position depends on the lease's remedies and any credit support — items governed by the PPM (the Private Placement Memorandum, the offering's full disclosure document), the loan documents and the recorded lease.
Chapter 9Capital Square Purchases Fort Worth Ground Lease for High-Leverage DST InvestmentAltsWire coverage of Capital Square procuring a 99-year unsubordinated ground lease (with 95 years remaining, 2% annual rent escalations) beneath the Le Méridien Fort Worth Downtown hotel on behalf of CS1031 Zero Coupon DFW Hospitality, DST. (Included per instructions since no 2026 coverage exists.)