Parkland Apartments (The Villas at Ibis Landing)
Multifamily property in Parkland, FL · sponsored by Capital Square
Parkland Apartments (The Villas at Ibis Landing) was a DST sponsored by Capital Square that owned a multifamily property in Parkland, FL (396 units). Its last Form D was filed Dec 19, 2022.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Dec 19, 2022.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $105,700,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Dec 19, 2022)Form D, Dec 19, 2022
- Selling commissions
- Form D Item 15; the % is our arithmetic$8,984,500 · 8.5% of offering
- 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.
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: Parkland Apartments (The Villas at Ibis Landing). Top1031 is not a broker-dealer.What did the Trust own?
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
How was it financed, and what did it cost to sell?
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.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $8,984,500 · 8.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $3,884,240 · 3.6% 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?
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
- Offerings on record
What does the SEC record show?
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.
- Legal Trust name
- CS1031 Parkland Apartments, DST
- SEC CIK
- 1958746
- First Form D
- Dec 19, 2022
- Latest Form D
- Dec 19, 2022
- 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 | $105,700,000 | $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 Parkland Apartments (The Villas at Ibis Landing)?
- Parkland Apartments (The Villas at Ibis Landing) is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Dec 19, 2022.
- 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.
- 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 offering documents for the financing terms.
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.