Retreat at Arden Farms
Multifamily property in Arden, NC · sponsored by Capital Square
Retreat at Arden Farms was a DST sponsored by Capital Square that owned a multifamily property in Arden, NC (312 units). Its last Form D was filed Jun 17, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed Jun 17, 2022.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $68,000,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Jun 17, 2022)Form D, Jun 17, 2022
- Selling commissions
- Form D Item 15; the % is our arithmetic$5,780,000 · 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: Retreat at Arden Farms. Top1031 is not a broker-dealer.Retreat at Arden Farms · Arden, NC · Photo: capitalsq.com
What did Retreat at Arden Farms own?
Developer Tynes Development lists the community as finished in 2021 and since sold. 5 It sits on 28 acres off Interstate 26 in Arden, North Carolina, in the Asheville area. 4 Capital Square announced on July 6, 2022 that it had acquired the property for this DST. 2 CoStar reported the complex traded for $116.5 million; Capital Square's own release called the purchase price undisclosed. 3
- Reported location
- Arden, NC
- Property size
- 312 units; average 957 sq ft
How was it financed, and what did it cost to sell?
The Form D carries no debt terms, and no reviewed source names a lender, loan amount, or leverage level for this Trust. Whether the Trust holds mortgage financing is not established in the public record.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $5,780,000 · 8.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,995,750 · 4.4% 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 Retreat at Arden Farms?
Capital Square Realty Advisors, LLC is named in the Form D as promoter, with CSRA Manager, LLC as director and promoter and Louis Rogers as an executive officer and promoter. 1 Capital Square is a repeat sponsor of 1031 exchange DST programs, and an affiliate, Capital Square Living, runs the community's leasing site. 6 Reviewed sources report no later sponsor development bearing specifically on this Trust.
- Sponsor
- Offerings on record
What does the SEC record show?
A Form D is a short notice that a private offering is underway, not a registration statement, and sponsors often amend it as an offering progresses. Here that original notice stands alone. The Trust was offered under the exemption permitting public advertising, which obliges the sponsor to verify each buyer's accredited status rather than accept self-certification.
- Legal Trust name
- CS1031 Retreat at Arden Farms Apartments, DSTS
- SEC CIK
- 1934449
- First Form D
- Jun 17, 2022
- Latest Form D
- Jun 17, 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 | $68,000,000 | $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 Retreat at Arden Farms?
- Retreat at Arden Farms is a Historical offering. Last Form D filed Jun 17, 2022.
- What did Capital Square pay for the property?
- Two accounts exist. CoStar reported on June 21, 2022 that the Retreat at Arden Farms complex sold for $116.5 million. Capital Square's own July 6, 2022 acquisition release said the purchase price was undisclosed. Both are retained here as reported; the sponsor never confirmed a figure.
- Why do two different street addresses appear for this property?
- Capital Square's acquisition release gives 539 Long Shoals Road, Arden, North Carolina, while the resident-facing website gives 10 Arden Farms Lane — described in Top1031's record as the marketing entrance address, which the operator website and the property's Facebook page also use. The reviewed sources do not explain the discrepancy, and no rebrand or address change should be inferred from it.
- What was the minimum investment?
- The June 17, 2022 Form D reported a $50,000 minimum investment for outside investors. That is a 2022 filing snapshot; a sponsor can set different terms in the offering documents.
- Does this Trust offer a 721/UPREIT exit?
- The record shows no REIT conversion feature for this Trust. A 721 or UPREIT exit is where the DST's property is contributed to a real estate investment trust's operating partnership in exchange for OP units, converting a property interest into a REIT-linked one. Nothing in the reviewed filings or sponsor materials describes that path here.
- What is still unknown about this Trust?
- Several things an investor would normally want: current occupancy and rents, whether the Trust carries mortgage debt and with which lender, whether the offering was fully subscribed, and who owns the property today. None of those are established by the SEC filing or by the sponsor and press coverage reviewed as of August 22, 2026.
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.