Parkland Apartments (The Villas at Ibis Landing)
Multifamily property in Parkland, FL — sponsored by Capital Square
Files with the SEC as CS1031 Parkland Apartments, DST
Minimum investment
$50k
Offering size
$105.7M
How much has sold
None sold yet
Asset type
Multifamily property
Location
Parkland, FL
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
CS1031 Parkland Apartments, DST is a Delaware statutory trust — the fractional-ownership vehicle 1031 exchangers use to swap into institutional real estate — holding The Villas at Ibis Landing, a 396-unit apartment community in Parkland, Florida. Capital Square acquired the property on January 4, 2023.3 Capital Square announced on March 11, 2026 that the offering was fully subscribed, so it is closed to new investors.5
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These links support the historical public record; 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?
The Villas at Ibis Landing occupies roughly 45.43 acres at 5851 Holmberg Road in Parkland, Florida, a Broward County suburb within the Parkland school district.2 Multi-Housing News reported on January 5, 2023 that Capital Square bought the Class A garden- and townhome-style community from Bell Partners for this Trust.4 The sponsor reports $9.4 million of capital improvements since 2018, including $6.8 million of interior renovation work across every unit.2
- Reported location
- Parkland, FL
- Property size
- 396 units
Who is the tenant, and what's the lease?
This is an apartment property, so income comes from hundreds of individual residential leases turning over on roughly annual cycles rather than from one corporate tenant on a long lease. Capital Square reported the community as 95.5% occupied when it announced the acquisition on January 4, 2023.3 No located record names the master tenant or manager.
How did it end?
No sale or other ending on record
DST remains operating as DST; the March 11, 2026 Capital Square announcement of completing three DST offerings totaling $396M was a successful equity-raise close (Parkland raised $105.7M), not a property sale, and the 396-unit Parkland, FL community at 5851 Holmberg Rd continues to be actively leased in 2026 as The Villas at Ibis Landing, with no full-cycle or UPREIT announcement naming CS1031 Parkland Apartments, DST located.
Class A garden-style/townhome-style multifamily on ~45.43 acres in affluent Parkland, FL (Broward County); part of Parkland school district. Property is one of only two apartment communities in the Parkland school zone. Acquired on behalf of CS1031 Parkland Apartments, DST seeking $105.7M in equity from accredited investors. Acquired Jan 4, 2023. DST fully subscribed Mar 11, 2026.
396 unitsSupporting evidence
How is it financed, and what does it pay?
Neither the Form D nor any sponsor or press record located for this Trust states a loan amount, a lender, or whether the property carries mortgage debt at all. Delaware statutory trusts are typically offered either all-cash or with fixed-rate debt already placed at closing; which applies here is not established in the public record.
Who's behind it?
The Form D names Capital Square Realty Advisors, LLC as promoter, CSRA Manager, LLC as a director and promoter, and Louis Rogers as an executive officer and promoter.1 Capital Square runs a continuous 1031 exchange program, bringing Delaware statutory trusts to market in a steady stream rather than as one-off deals. On March 11, 2026 it announced the completion of three DST offerings totaling $396 million, this Trust among them, reporting 249 accredited investors here, 156 of whom had invested with the sponsor before.5
- Sponsor
- Capital Square
- Legal Trust name
- CS1031 Parkland Apartments, 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 Trust filed with the SEC before any interests had sold and never amended, so EDGAR still shows the offering at its pre-sale stage; the raise finishing is known only from the sponsor's March 2026 announcement.5 Rule 506(c) permits public advertising of an offering provided every buyer's accredited status is verified.
- 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
What happened to Parkland Apartments (The Villas at Ibis Landing)?
Top1031 lists Parkland Apartments (The Villas at Ibis Landing) as historical. It is no longer raising money.
Where does Top1031 get the data for Parkland Apartments (The Villas at Ibis Landing)?
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.
Can I still invest in CS1031 Parkland Apartments, DST?
No. Capital Square announced on March 11, 2026 that the offering was fully subscribed, meaning it is closed to new investors. The sponsor said the offering drew 249 accredited investors, 156 of whom had invested with Capital Square previously. Interests in a closed DST are not sold on any public market.
Why does the SEC filing show no sales?
The Trust filed one Form D on December 19, 2022, before its first sale, and never amended it. Form D figures are a snapshot as of the filing date, and issuers are not required to keep amending as a raise progresses. The completion of this raise is documented by Capital Square's press release, not by EDGAR.
What property does the Trust own?
The Villas at Ibis Landing, a Class A garden- and townhome-style apartment community at 5851 Holmberg Road in Parkland, Florida, on roughly 45.43 acres in Broward County. Capital Square acquired it on behalf of the Trust and announced the purchase on January 4, 2023; Multi-Housing News reported the seller as Bell Partners.
What was the minimum investment?
The Form D filed December 19, 2022 listed a $50,000 minimum outside investment. That figure applied to the offering when it was open; the offering is now closed to new investors.
Is there a 721/UPREIT exit planned?
The record for this Trust does not indicate a planned 721 exchange — contributing the property to a REIT's operating partnership in return for OP units instead of selling it. Nothing located in the public file or sponsor materials describes such a conversion for this Trust.
How much debt is on the property?
Not established. No Form D disclosure, sponsor page, or press account located for this Trust states a loan amount, lender, or loan-to-value ratio. An investor would look to the private placement memorandum — the offering document delivered to prospective investors — for the financing terms.
Chapter 9Capital Square Successfully Completes Three DST Offerings Totaling $396 MillionPress release announcing CS1031 Parkland Apartments, DST fully subscribed, having raised $105.7M in equity from 249 accredited investors. Capital Square Acquires Miami Multifamily Community for DST OfferingTrade-press coverage of Capital Square's acquisition of a 396-unit Parkland, FL multifamily property for the CS1031 Parkland Apartments, DST.