Top1031

Tapestry West Apartments

Multifamily property in Richmond, Virginia — sponsored by Capital Square

Files with the SEC as CS1031 Tapestry West Apartments, DST

Minimum investment
$50k
Offering size
$60.7M
How much has sold
None sold yet
Asset type
Multifamily property
Location
Richmond, Virginia
Financing
All cash. This offering reports no mortgage debt.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

CS1031 Tapestry West Apartments, DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold fractional real estate — owning a Class A apartment community in the Willow Lawn area of Richmond, Virginia. Capital Square bought it from developer Bristol Development Group for $91.7 million in a sale that closed September 1, 2022, and reported the offering fully capitalized on March 11, 2026.5

Show sources (13)Hide sources (13)

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.

Chapter 2

What exactly is the property?

Bristol Development Group developed Tapestry West in Richmond's Willow Lawn neighborhood, next door to Kinsale Capital Group's headquarters, and sold it to Capital Square for $91.7 million in a deal that closed September 1, 2022. The community's own leasing site was actively marketing apartments as of August 2026, advertising two months free rent for applicants moving in by October 31, 2026.4

Property address
2031 Maywill Street, Richmond, Virginia
Property size
262 units (Class A; construction completed 2022; unit sizes 436-1,254 sf)
Chapter 3

Who is the tenant, and what's the lease?

There is no single tenant here: a Class A apartment community leases to hundreds of residents on short-term leases. Capital Square's offering materials describe a master tenant arrangement, in which one entity leases the whole property from the Trust and operates, manages and maintains it, its capitalization supported solely by cash flow from the underlying lease.3

Chapter 4

How did it end?

What happened

No sale or other ending on record

A March 11, 2026 PR Newswire/Capital Square announcement confirms CS1031 Tapestry West Apartments, DST fully subscribed its $60.7 million equity raise (an equity raise completion, not a property sale), and the property continues to be operated by Capital Square Living [1][2][3].

Class A multifamily community in the Willow Lawn neighborhood of Richmond, VA; Bristol Development Group sold Tapestry West to Capital Square for $91.7M (closed Sept. 1, 2022); CS1031 Tapestry West Apartments, DST raised $60.7M in equity from 160 accredited investors and was reported fully capitalized in the March 2026 Capital Square completion announcement; subject of an investor-lawsuit investigation notice in August 2025.

262 units (Class A; construction completed 2022; unit sizes 436-1,254 sf)
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

Neither the Form D nor the sponsor material reviewed for this record discloses the debt on this Trust — no loan amount, lender, or loan-to-value appears. Whether the Trust is leveraged or all-cash is not established by the public record here.

Chapter 7

What does the paperwork say?

Capital Square filed one Form D for this Trust and never amended it, so the SEC record captures the offering only as it stood at launch, years before the sponsor's completion announcement. Rule 506(c) permits the offering to be advertised publicly, provided every buyer is verified as an accredited investor.

  1. 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.

Chapter 8

Common questions

What happened to Tapestry West Apartments?

Top1031 lists Tapestry West Apartments as historical. It is no longer raising money.

Where does Top1031 get the data for Tapestry West Apartments?

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 this Trust?

No. Capital Square announced on March 11, 2026 that CS1031 Tapestry West Apartments, DST was fully capitalized, with equity raised from 160 accredited investors. The Trust is closed to new investors, and it appears in this directory as a historical record rather than a live offering.

Why does the SEC record show so little activity?

A Form D is a short notice of an exempt offering, not an ongoing report. Capital Square filed one for this Trust on September 26, 2022 and never amended it, so the SEC page still reflects the day the offering launched. The sponsor's later press release, not EDGAR, is what documents the completed raise.

What is the August 2025 investor lawsuit investigation about?

On August 25, 2025, The White Law Group, a securities law firm, published a notice saying it was investigating potential claims on behalf of investors in CS1031 Tapestry West Apartments DST. Such notices are law-firm solicitations, not court findings or regulatory actions. No adverse proceeding against the Trust appears in the primary records reviewed for this profile.

Who actually runs the apartments?

Capital Square's offering materials describe a master tenant structure: the Trust leases the entire property to a master tenant that collects rent and handles operations, leasing and maintenance. That keeps the Trust passive, which is what 1031 exchange treatment requires, but it also means beneficial owners depend on the master tenant's performance. The master tenant and on-site property manager are not identified in the sources reviewed.

Is the Trust leveraged, and what happens at exit?

The debt on this Trust — amount, lender and loan-to-value — is not disclosed in the Form D or the sponsor material reviewed here; investors should look to the PPM, the private placement memorandum that governs the offering. The Trust is not flagged as convertible into a REIT, so a 721/UPREIT exit, where investors swap into REIT operating-partnership units, is not indicated in this record.

Chapter 9

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