Top1031

Texas Active Living Portfolio I

Multifamily property in McKinney and Waco, TX · sponsored by Capital Square

Active offeringLatest Form D filed Apr 2, 2026 (opens in a new tab)

Texas Active Living Portfolio I is a DST sponsored by Capital Square that owns a multifamily property in McKinney and Waco, TX. Its latest Form D, filed Apr 2, 2026, lists a $39.3 million offering with a $50,000 minimum.

Key facts

A free account shows how much of each active offering has sold and the Sponsor Grade letters.
Minimum investment
$50,000
From the Form D
Offering size
$39,300,000
Equity offered, per the Form D
Sold so far
None reported as of Apr 2, 2026
Form D, Apr 2, 2026
Selling commissions
$3,301,200 · 8.4% of offering
Form D Item 15; the % is our arithmetic
Financing
All cash. This offering reports no 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 →

Sales so far

A free account shows how much of each active offering has sold and the Sponsor Grade letters.
Latest Form D
Apr 2, 2026 · 1 filing

No sales reported in a Form D amendment yet. Latest notice Apr 2, 2026.

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Ask a 1031 specialist about this recordFree. About: Texas Active Living Portfolio I. Top1031 is not a broker-dealer.
Texas Active Living Portfolio I image

Texas Active Living Portfolio I · Waco, TX · Photo: capitalsq.com

Multiple property locations are on record; no single map.

What does the Trust own?

Capital Square names the communities Emerald Cottages of Stonebridge in McKinney and Emerald Cottages of Waco, single-story build-for-rent cottages restricted to residents 55 and older, so age-restricted housing rather than licensed care. 2 Baker 1031, summarizing offering materials, reports the Trust bought the pair on March 3, 2026 for an unloaded price of $32,225,000. 3 Capital Square reported both fully occupied as of March 1, 2026. 1

Property address
2551 Alma Road, McKinney, Texas; 2412 Marketplace Drive, Waco, Texas
Property size
76 units total (44 in McKinney and 32 in Waco); cottages average 1,350 SF per cottage

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

Capital Square describes the purchase as having no mortgage debt, so the real estate is owned free and clear, with no lender, no loan covenants and no refinancing deadline. 2 An exchanger replacing debt paid off on a relinquished property would need to satisfy that elsewhere in the exchange.

Debt

Financing
All cash. This offering reports no mortgage debt.

Costs and terms from the Form D

Selling commissions
$3,301,200 · 8.4% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$669,500 · 1.7% 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?

One Form D, the brief notice an issuer files for a private placement instead of a registered public offering, sits on the SEC record. 4 Because the Trust may be advertised publicly, the sponsor verifies each buyer's accredited status rather than accepting a self-certification.

Legal Trust name
CS1031 Texas Active Living Portfolio I, DST
SEC CIK
2126714
First Form D
Apr 2, 2026
Latest Form D
Apr 2, 2026
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$39,300,000
$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

Is Texas Active Living Portfolio I an active offering?
Texas Active Living Portfolio I is an Active offering: its latest Form D was filed Apr 2, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
What did the Trust pay for the two communities?
Baker 1031, an intermediary summarizing the offering materials, reports the Trust acquired both properties on March 3, 2026 for an unloaded price of $32,225,000. Capital Square's own March 5, 2026 launch announcement describes the acquisition as all-cash with no mortgage debt.
Who collects the rent from residents?
Two affiliated master tenants do, one associated with the McKinney property and one with Waco, according to Baker 1031's summary of the offering materials. Each property is net-leased to its master tenant, which collects resident rent and pays rent up to the Trust. A Capital Square affiliate manages the communities and subcontracts operations to a firm called Carbon Shepherd. Capital Square states that each master tenant's capitalization depends solely on cash flow from the underlying resident leases, and that the sponsor has no obligation to contribute capital to the master tenants.
Is there a mortgage on the properties?
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. An exchanger who needs to replace debt that was paid off on a relinquished property would not find that debt inside this Trust.
What operating history has Capital Square reported?
Capital Square reported both communities 100% occupied as of March 1, 2026, with waitlists of 18 prospective residents in McKinney and 12 in Waco, each backed by a $1,000 deposit. Its March 5, 2026 launch release also reported trailing twelve month resident retention of 86% in McKinney and 78% in Waco, with zero bad debt and no rental concessions.
What does active adult mean for this portfolio?
Capital Square markets both Emerald Cottages communities as build-for-rent housing for residents aged 55 and older. That is age-restricted rental housing rather than licensed assisted living or skilled nursing, and the homes are single-story cottages averaging about 1,350 square feet.
Could investors end up owning REIT shares through this Trust?
No. This Trust is not structured to convert into a REIT through a 721 or UPREIT exit, the arrangement in which investors trade their Trust interests for operating partnership units in a real estate investment trust instead of taking cash. It is a Delaware statutory trust holding the two Texas communities under the master-lease structure described in the offering materials.

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.