The Villages at Miami Gardens
Build-for-rent townhomes in Miami Gardens, FL · sponsored by Capital Square
The Villages at Miami Gardens is a DST sponsored by Capital Square that owns a build-for-rent townhomes in Miami Gardens, FL (50 units). Its latest Form D, filed Oct 17, 2025, lists a $10.4 million offering with a $50,000 minimum.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $10,400,000Equity offered, per the Form D
- Sold so far
- Not reported after the first Form D (Oct 17, 2025)Form D, Oct 17, 2025
- Selling commissions
- Form D Item 15; the % is our arithmetic$873,600 · 8.4% of offering
- 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 →
Can I still invest?
No new interests: the offering is reported fully subscribed.
Other Capital Square offerings on record
- CS1031 Texas Active Living New Braunfels, DSTNew Braunfels, TX · $50,000 minimum · $37,350,000 offeringActive offering · latest Form D Oct 6, 2026
- Colony at Centerpointe ApartmentsMidlothian, VA · $50,000 minimum · $42,950,000 offeringActive offering · latest Form D Jun 24, 2026
- Emerald Cottages of Kerrville + Emerald Cottages Round RockTX · $50,000 minimum · $32,700,000 offeringActive offering · latest Form D Jun 24, 2026
- Cacema TownhomesKissimmee, FL · $50,000 minimum · $41,850,000 offeringActive offering · latest Form D Jun 15, 2026
Availability changes without a filing. The sponsor or a registered representative can confirm what is open.
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Ask a 1031 specialist about this recordFree. About: The Villages at Miami Gardens. Top1031 is not a broker-dealer.The Villages at Miami Gardens · Miami Gardens, FL · Photo: capitalsq.com
What does The Villages at Miami Gardens own?
These are build-for-rent homes: three- and four-bedroom townhomes developed as rentals rather than for individual sale, near the Miami Dolphins' Hard Rock Stadium. 1 The South Florida Business Journal reported an October 2025 sale of the property for $18.5 million. 3 Capital Square described the community as 98% occupied when it announced the offering on October 21, 2025. 1 An April 1, 2026 announcement described it as 100% occupied. 2
- Property address
- 3400 NW 191st Street, Miami Gardens, FL
- Property size
- 50 units
How is it financed, and what did it cost to sell?
The trust holds the community subject to mortgage debt, so an exchanger replacing a loan from a sold property can match part of that debt without adding cash. Capital Square said the property carries a fixed-rate loan with a ten-year term, so the rate does not change. 1
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $873,600 · 8.4% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $565,250 · 5.4% 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 The Villages at Miami Gardens?
Capital Square sponsors 1031 exchange DST offerings sold as Regulation D private placements to accredited investors, people who meet SEC income or net-worth tests. It announced this offering's launch on October 21, 2025. 1 On April 1, 2026 it announced that the offering had been fully subscribed. 2
- Sponsor
- Offerings on record
What does the SEC record show?
Form D is the brief notice an issuer sends the SEC when it sells securities privately instead of registering them; it reports the offering's size, not its progress. Selling under Rule 506(c) lets a sponsor advertise publicly, but it must verify that every buyer is accredited.
- Legal Trust name
- CS1031 The Villages at Miami Gardens BFR Housing, DST
- SEC CIK
- 2092246
- First Form D
- Oct 17, 2025
- Latest Form D
- Oct 17, 2025
- 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 | $10,400,000 | $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
- Can I still invest in The Villages at Miami Gardens?
- No new interests: The Villages at Miami Gardens is reported fully subscribed. Top1031 lists it as recently fully subscribed and does not count it as an active offering.
- What does this Trust own?
- It owns The Villages at Miami Gardens, a 50-unit build-for-rent townhome community at 3400 NW 191st Street in Miami Gardens, Florida, with three- and four-bedroom homes. Capital Square reported acquiring the property in October 2025. The South Florida Business Journal reported that the property sold that month for $18.5 million.
- Who pays the rent at the property?
- Residents pay rent under individual apartment-style leases, not a single corporate tenant. Capital Square's offering page says beneficial owners rely on a master tenant, an operating entity that leases the whole property from the trust and is responsible for collecting rent and for operating, managing, leasing and maintaining it. The same page says the master tenant's capitalization is supported solely by cash flow from the underlying tenant lease.
- How is the property financed?
- The trust holds the community subject to mortgage debt. Capital Square's October 21, 2025 launch announcement described debt on the community as approximately 54% and said the property is encumbered by a fixed-rate loan with a ten-year term. Full debt terms sit in the offering documents.
- How occupied was the community?
- Capital Square described the community as 98% occupied in its October 21, 2025 launch announcement and as 100% occupied in its April 1, 2026 announcement. Both are dated sponsor snapshots rather than continuing measurements, and occupancy is reported to investors by the sponsor rather than through SEC filings.
- What was the minimum investment and the offering size?
- The Form D filed October 17, 2025 states a $50,000 minimum investment and a $10.4 million total offering amount. The offering amount is the size the issuer filed, not a record of proceeds received.
- Can this Trust convert into a REIT?
- No. This offering is not structured with a 721 exchange, sometimes called an UPREIT, which is a feature in some DSTs that lets the property be contributed to a real estate investment trust's operating partnership so investors receive REIT units instead of cash.
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.