Top1031

Tapestry West Apartments

Multifamily property in Richmond, Virginia · sponsored by Capital Square

HistoricalLast Form D filed Sep 26, 2022 (opens in a new tab)

Tapestry West Apartments was a DST sponsored by Capital Square that owned a multifamily property in Richmond, Virginia (262 units). Its last Form D was filed Sep 26, 2022.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed Sep 26, 2022.

Capital Square has 5 active offerings on record →

Key facts

Minimum investment
$50,000
From the Form D
Offering size
$60,687,000
Equity offered, per the Form D
Sold
Not reported after the first Form D (Sep 26, 2022)
Form D, Sep 26, 2022
Selling commissions
$5,158,395 · 8.5% of offering
Form D Item 15; the % is our arithmetic
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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Tapestry West Apartments. Top1031 is not a broker-dealer.
Tapestry West Apartments image

Tapestry West Apartments · Richmond, Virginia · Photo: richmondbizsense.com

What did Tapestry West Apartments own?

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)

How was it financed, and what did it cost to sell?

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.

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$5,158,395 · 8.5% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$2,309,000 · 3.8% of offering
Form D Item 16
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

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.

What does the SEC record show?

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.

Legal Trust name
CS1031 Tapestry West Apartments, DST
SEC CIK
1947831
First Form D
Sep 26, 2022
Latest Form D
Sep 26, 2022
Filings on record
1
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$60,687,000
$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 Tapestry West Apartments?
Tapestry West Apartments is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Sep 26, 2022.
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 offering documents. 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.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

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.