Cypress McKinney Falls
Multifamily property — sponsored by Carter Exchange
Files with the SEC as CX Cypress McKinney Falls, DST
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
CX Cypress McKinney Falls, DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional interests in institutional real estate — sponsored by Carter Exchange Fund Management Company, LLC.5 It owns a garden-style apartment community in southeast Austin, Texas, and no longer accepts new subscriptions: Carter's offering page describes the offering as closed.2 No sale, refinancing, or other outcome has been publicly reported since.
Show sources (8)Hide sources (8)
These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The community sits at 7000 Janes Ranch Rd in southeast Austin.1 Carter's offering page describes a garden-style property on 24.86 acres with 151 one-bedroom, 92 two-bedroom, and 21 three-bedroom units, built in 2021.2 Developer Daniel Corporation says the project delivered in Summer 2020 and sold in Fall 2021.3 A 2024 Carter overview instead lists the year built as 2018–2019 and 306 apartment homes; the sources are not reconciled.4
- Property size
- 264 units; 8 buildings
Who is the tenant, and what's the lease?
Apartments are leased unit by unit on short residential terms, so there is no single credit tenant behind the income — it depends on occupancy and rents across the whole community. Allegiant-Carter Management is listed as the property manager.1
How did it end?
No sale or other ending on record
No public full-cycle or disposition announcement naming CX Cypress McKinney Falls, DST has been located; the property (a 264-unit Austin, TX multifamily community) remains listed on Carter Funds' active portfolio [1].
Carter's offering page describes an eight-building, 24.86-acre garden-style multifamily property built in 2021 with 151 one-bedroom, 92 two-bedroom, and 21 three-bedroom units; it says the offering is closed to new subscriptions, but no dated news article establishing a subscription status was located, so status_signal is none.
264 units; 8 buildingsWho's behind it?
Carter Exchange Fund Management Company, LLC is the sponsor named in the Trust's Form D.5 Its affiliated manager, Allegiant-Carter Management, runs the property day to day.1 On April 1, 2026, The White Law Group, a securities law firm, published an investigation naming this Trust among Carter Exchange 1031 DST offerings it is reviewing in connection with investor complaints and recovery options.
- Sponsor
- Carter Exchange
- Legal Trust name
- CX Cypress McKinney Falls, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 0 active / 10 total offerings from Carter Exchange
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The final amendment reports that the first sale occurred on April 28, 2022.5 Interests were sold privately to accredited investors — people meeting SEC income or net-worth tests — rather than by public advertising, and each later amendment updated the running tally of dollars raised and investors admitted.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 8
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
What happened to Cypress McKinney Falls?
Top1031 lists Cypress McKinney Falls as historical. It is no longer raising money.
Where does Top1031 get the data for Cypress McKinney Falls?
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.
Can I still invest in CX Cypress McKinney Falls, DST?
No. Carter Exchange's offering page describes the offering as closed to new subscriptions, and the Trust's last Form D amendment was filed September 6, 2022. It is a historical record here, useful mainly for comparison against Trusts currently raising.
What does the Trust actually own?
A garden-style apartment community called Cypress McKinney Falls at 7000 Janes Ranch Rd in southeast Austin, Texas. Carter's page describes eight buildings on 24.86 acres with a mix of one-, two-, and three-bedroom units, managed by Allegiant-Carter Management.
Why do sources disagree on the unit count and year built?
Carter Exchange's offering page reports 264 units and a 2021 completion, while a 2024 Carter overview reports 306 apartment homes and a 2018–2019 year built. Developer Daniel Corporation says the project delivered in Summer 2020 and sold in Fall 2021. Top1031 lists each claim to its source rather than merging them; the PPM and sponsor reporting govern.
Is there any information on the debt or the exit plan?
No. The Form D filings do not disclose loan terms, and no public source located as of August 19, 2026 identifies a lender, loan balance, leverage level, or a stated 721/UPREIT exit — the option some sponsors include to roll investors into a REIT operating partnership. Those terms would appear in the private placement memorandum.
What is the White Law Group investigation about?
The White Law Group, a securities law firm, published a piece on April 1, 2026 naming CX Cypress McKinney Falls, DST among Carter Exchange 1031 DST offerings and discussing investor complaints and recovery options. It is a law firm's own investigation notice, not a regulatory action or a court finding.
How was the offering sold?
Privately, under Rule 506(b) — an exemption that lets an issuer raise money from accredited investors without general advertising or public solicitation. Investors typically came through broker-dealers and registered representatives, and the first sale is reported as April 28, 2022.