Top1031
CX Retreat at the Park, DST
in Burlington, NC · sponsored by Carter Exchange
Historical · soldSold Jan 2026, as reported by Carter Exchange · last Form D Jan 22, 2021Sponsor source (opens in a new tab)
CX Retreat at the Park, DST, sponsored by Carter Exchange, filed its first Form D with the SEC on Jul 8, 2020 for a $18.7 million offering. Carter Exchange sold the property in Jan 2026, as reported by the sponsor.
How it ended
Sold, result reported by the sponsor
Sold Jan 2026.
- Total return
- 55.4% as reported by the sponsor
- Date
- Jan 21, 2026
- Held
- 5.8 years
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $18,708,724Equity offered, per the Form D
- Sold
- 100%Form D, Jan 22, 2021; the % is our arithmetic
- Investors reported
- Form D, Jan 22, 202181
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,734,557 · 9.2% of offering
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
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 →
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Ask a 1031 specialist about this recordFree. About: CX Retreat at the Park, DST. Top1031 is not a broker-dealer.What did CX Retreat at the Park, DST own?
The Trust's property is Retreat at the Park, a 249-unit garden-style apartment community of 11 residential buildings in Burlington, North Carolina. 1 The community sits at 122 Retreat Lane. 2 Carter Exchange's in-house manager, Allegiant-Carter Management, handled apartment upgrades, and the sponsor reported average occupancy of 95.5% and a 20.1% rise in average monthly rents on occupied units over its 5.75-year hold. 3
- Reported location
- Burlington, NC
How was it financed, and what did it cost to sell?
NorthMarq reported arranging $25.3 million of acquisition financing through Fannie Mae's DUS lending program in April 2020, with a 10-year term, five years of interest-only payments, then a 30-year amortization schedule. 2 Investor equity sat behind that mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $1,734,557 · 9.2% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,599,633 · 13.8% of offeringForm D Item 16· The filing’s note: “Item 16 is an estimate of acquisition fees, reimbursements for certain acquisition and financing costs and offering and organizational expenses that may accrue to one or more Related Persons.”
- Broker-dealers named in the Form D
- 15 named in the Form D
Show the firms
- Advisory Group Equity Services Ltd. · CRD 15427
- Cabot Lodge Securities LLC · CRD 159712
- Capulent LLC · CRD 155155
- Colorado Financial Service Corporation · CRD 104343
- Concorde Investment Services, LLC · CRD 151604
- DAI Securities, LLC · CRD 36673
- DFPG Investments, LLC · CRD 155576
- Emerson Equity LLC · CRD 130032
- Growth Capital Services, Inc. · CRD 124658
- Lightpath Capital, Inc. · CRD 34617
- McDermott Investment Services, LLC · CRD 154926
- Realized Financial, Inc. · CRD 22333
- Stax Capital · CRD 300607
- Titan Securities · CRD 131392
- Wealthforge Securities, LLC · CRD 152550
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jun 23, 2020
- Minimum investment
- $25,000
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 CX Retreat at the Park, DST?
Carter Exchange, the Delaware Statutory Trust arm of Carter Funds, sponsors the Trust. 1 The January 22, 2021 Form D names Carter Exchange Fund Management Company, LLC as sponsor. 4
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust's first Form D, the notice an issuer files with the SEC for a private offering, reported June 23, 2020 as the offering's first sale date. 4 Amendments followed over the next six months, each restating the figures reported to the SEC.
- Legal Trust name
- CX Retreat at the Park, DST
- SEC CIK
- 1811253
- First Form D
- Jul 8, 2020
- Latest Form D
- Jan 22, 2021
- Filings on record
- 19
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $18,708,724 | $18,708,724+$100,000 | 81+1 | EDGAR | |
| Form D/A | $18,708,724 | $18,608,724+$400,000 | 80+1 | EDGAR | |
| Form D/A | $18,708,724 | $18,208,724+$48,550 | 79+1 | EDGAR | |
| Form D/A | $18,708,724 | $18,160,174+$657,259 | 78+4 | EDGAR | |
| Form D/A | $18,708,724 | $17,502,915+$1,566,024 | 74+5 | EDGAR | |
| Form D/A | $18,708,724 | $15,936,891+$1,266,195 | 69+6 | EDGAR | |
| Form D/A | $18,708,724 | $14,670,696+$352,344 | 63+2 | EDGAR | |
| Form D/A | $18,708,724 | $14,318,352+$510,000 | 61+2 | EDGAR | |
| Form D/A | $18,708,724 | $13,808,352+$1,597,584 | 59+8 | EDGAR | |
| Form D/A | $18,708,724 | $12,210,768+$2,507,887 | 51+12 | EDGAR | |
| Form D/A | $18,708,724 | $9,702,881+$1,588,264 | 39+7 | EDGAR | |
| Form D/A | $18,708,724 | $8,114,617+$1,521,498 | 32+5 | EDGAR | |
| Form D/A | $18,708,724 | $6,593,119+$1,722,199 | 27+7 | EDGAR | |
| Form D/A | $18,708,724 | $4,870,920+$494,762 | 20+5 | EDGAR | |
| Form D/A | $18,708,724 | $4,376,158+$399,574 | 15+1 | EDGAR | |
| Form D/A | $18,708,724 | $3,976,584+$241,010 | 14+2 | EDGAR | |
| Form D/A | $18,708,724 | $3,735,574+$1,175,690 | 12+7 | EDGAR | |
| Form D/A | $18,708,724 | $2,559,884+$2,369,075 | 5+4 | EDGAR | |
| Form D | $18,708,724 | $190,809 | 1 | EDGAR |
Show all 19 SEC Form D filings
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 CX Retreat at the Park, DST?
- CX Retreat at the Park, DST is a Historical offering. Sold Jan 2026, as reported by Carter Exchange.
- What does CX Retreat at the Park, DST own?
- It owns Retreat at the Park, a 249-unit garden-style apartment community made up of 11 residential buildings in Burlington, North Carolina, according to Carter Exchange's offering page. NorthMarq's transaction record places the property at 122 Retreat Lane.
- Who pays the rent at an apartment DST like this one?
- Residents of the individual apartment homes pay the rent, not a single corporate tenant. That means the property's income follows occupancy and local market rents rather than one long-term lease, and the owner, not a tenant, carries operating costs such as taxes, insurance and upkeep.
- How was the property financed?
- NorthMarq reported arranging $25.3 million of acquisition financing for Retreat at the Park through Fannie Mae's DUS lending platform in April 2020. NorthMarq describes the loan as having a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule.
- How was the offering sold, and what was the minimum?
- The Form D filings show a Rule 506(b) offering, a private placement sold to accredited investors without general advertising. The filings list a $25,000 minimum investment. An accredited investor is one who meets SEC income or net worth thresholds.
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.