Texas Active Living Portfolio I

The sponsor’s SEC filings show the offering raising money within the past 15 months. A filing does not by itself confirm you can still buy in.

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.

Intermediary Baker 1031's offering page reports that the Trust acquired the properties on March 3, 2026 at a $32,225,000 unloaded price. Capital Square's own March 5, 2026 launch announcement describes an all-cash acquisition but names no price or closing date, and no deed or closing record was located in the reviewed material. The Private Placement Memorandum (PPM) — the offering's disclosure document — carries the sources-and-uses table showing price, closing costs, fees and reserves.

Not the Trust directly. Intermediary Baker 1031 reports each property is net-leased to an affiliated master tenant — one for McKinney, one for Waco — and that a Capital Square affiliate manages the communities, subcontracting operations to a firm called Carbon Shepherd. The master tenants collect resident rent and pay rent up to the Trust. Legal names, lease terms, how each master tenant is capitalized, and affiliate fees appear in the PPM.

No. Capital Square describes the acquisition as all-cash with no mortgage debt, so the real estate is owned free and clear, with no lender, no loan covenants and no refinancing deadline during the hold. An exchanger who must replace debt that was paid off on a relinquished property will not find that debt here and would need to satisfy the requirement elsewhere in the exchange.

In its March 5, 2026 launch announcement, Capital Square reported both communities 100% occupied, with waitlists of 18 prospective residents in McKinney and 12 in Waco, plus trailing-12-month resident retention of 86% in McKinney and 78% in Waco, with zero bad debt and no rental concessions. Those are sponsor-reported figures from launch; nothing later was located, so current reporting is worth requesting directly from the sponsor or your representative.

Capital Square markets both Emerald Cottages communities as build-for-rent housing for residents aged 55 and older — age-restricted rentals, not licensed care. Nothing in the reviewed material describes healthcare or assisted-living services provided by the Trust. The PPM should state the age restriction, how it is enforced and what services management provides.

The SEC record holds a single Form D, filed April 2, 2026, listing a $50,000 minimum investment. Separately, intermediary Baker 1031's page for the Trust, updated July 31, 2026, described the offering as closed with no equity available — a later, unfiled characterization the SEC record neither confirms nor contradicts. Form D data lags real activity, since issuers need not report subscription progress between filings, so confirm availability with the sponsor or your representative before identifying this Trust on a 45-day list.