Mode at Hyattsville
Multifamily property in Hyattsville, MD · sponsored by Carter Exchange
Mode at Hyattsville was a DST sponsored by Carter Exchange that owned a multifamily property in Hyattsville, MD (396 units). Its last Form D was filed Nov 30, 2023.
How it ended
No outcome recorded · under 7 years
Last Form D filed Nov 30, 2023.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $73,433,727Equity offered, per the Form D
- Sold
- 24.9%Form D, Nov 30, 2023; the % is our arithmetic
- Investors reported
- Form D, Nov 30, 202354
- Selling commissions
- Form D Item 15; the % is our arithmetic$6,792,621 · 9.2% 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 →
Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.
Ask a 1031 specialist about this recordFree. About: Mode at Hyattsville. Top1031 is not a broker-dealer.What did Mode at Hyattsville own?
The community was built in 2009 and operated as Post Park until it was renamed Mode at Hyattsville at closing. 2 The Trust bought it from Park Land Development, LLC, a Georgia company the sponsor described as an unaffiliated third party, at a disclosed purchase price of $103.5 million. 2 Sponsor materials describe roughly 6.8 acres, ten buildings, one commercial unit, and 502 parking spaces. 2
- Reported location
- Hyattsville, MD
- Property size
- 396 units
How was it financed, and what did it cost to sell?
This Trust is leveraged rather than all-cash: sponsor materials report about $57.2 million of debt inside roughly $130.6 million of total capitalization, on a ten-year loan that is interest-only for its full term, so no principal amortizes before maturity. 2 The lender is not named in the public record.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $6,792,621 · 9.2% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $3,263,231 · 4.4% 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
- 9 named in the Form D
Show the firms
- Centaurus Financial, Inc. · CRD 30833
- Concorde Investment Services, LLC · CRD 151604
- DAI Securities, LLC · CRD 36673
- DFPG Investments, LLC · CRD 155576
- Huntwicke Securities, LLC · CRD 146993
- Lightpath Capital, Inc. · CRD 34617
- McDermott Investment Services, LLC · CRD 154926
- Realized Financial, Inc. · CRD 22333
- The Strategic Financial Alliance, Inc. · CRD 126514
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jan 19, 2023
- 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 Mode at Hyattsville?
Carter Exchange is the 1031 exchange platform of Carter Funds. The Form D names Carter Exchange Fund Management Company, LLC as sponsor, CX Mode at Hyattsville Manager, LLC as manager and signatory trustee, CX Mode at Hyattsville Depositor, LLC as depositor, and John E. Carter as the manager's president. 1 A Carter Exchange platform overview published March 1, 2024 listed this Trust among its portfolio offerings. 4 The property's own website credits Allegiant-Carter Management on the operating side. 3
- Sponsor
- Offerings on record
What does the SEC record show?
The amendments on file read as progress updates rather than changes to terms: each restated cumulative sales while the offering size held constant. The issuer reported its first sale on January 19, 2023, before the initial notice reached EDGAR. 1 No later amendment appears in the record reviewed here.
- Legal Trust name
- CX Mode at Hyattsville, DST
- SEC CIK
- 1959310
- First Form D
- Feb 1, 2023
- Latest Form D
- Nov 30, 2023
- Filings on record
- 14
- 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 | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $73,433,727 | $18,325,277+$1,022,033 | 54+3 | EDGAR | |
| Form D/A | $73,433,727 | $17,303,244 | 51 | EDGAR | |
| Form D (new notice) | $73,433,727 | $17,303,244 | 51 | EDGAR | |
| Form D/A | $73,433,727 | $13,122,034+$2,341,102 | 40+5 | EDGAR | |
| Form D/A | $73,433,727 | $10,780,932+$1,575,071 | 35+4 | EDGAR | |
| Form D/A | $73,433,727 | $9,205,861+$1,179,655 | 31+7 | EDGAR | |
| Form D/A | $73,433,727 | $8,026,206+$412,909 | 24+2 | EDGAR | |
| Form D/A | $73,433,727 | $7,613,297+$4,790,049 | 22+9 | EDGAR | |
| Form D/A | $73,433,727 | $2,823,248+$633,611 | 13+3 | EDGAR | |
| Form D/A | $73,433,727 | $2,189,637+$481,000 | 10+2 | EDGAR | |
| Form D/A | $73,433,727 | $1,708,637+$922,206 | 8+4 | EDGAR | |
| Form D/A | $73,433,727 | $786,431+$70,000 | 4+1 | EDGAR | |
| Form D/A | $73,433,727 | $716,431+$200,000 | 3+1 | EDGAR | |
| Form D | $73,433,727 | $516,431 | 2 | EDGAR |
Show all 14 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 Mode at Hyattsville?
- Mode at Hyattsville is a Historical offering. Last Form D filed Nov 30, 2023.
- What am I actually buying?
- A beneficial interest in CX Mode at Hyattsville, DST, a Delaware Statutory Trust that holds a 396-unit apartment midrise in Hyattsville, Maryland. A DST interest is treated as real property for 1031 exchange purposes, so it can serve as replacement property, but holders have no management role — the trustee and master tenant make the operating decisions.
- Who runs the property day to day?
- The Trust leases the property to a master tenant affiliated with Carter Exchange, which handles operations and pays rent to the Trust. The property's own leasing site identifies Allegiant-Carter Management in connection with Mode at Hyattsville. The exact legal name of the master tenant entity is not established in the public record reviewed here.
- Is there debt on the property?
- Yes. Sponsor materials report about $57.2 million of debt against roughly $130.6 million of total capitalization, structured as a ten-year loan that is interest-only for its full term. The lender is not named in the sources reviewed. Loan terms, guaranties and refinancing risk are set out in the offering documents.
- Can this Trust convert into a REIT through a 721/UPREIT exit?
- The record shows no 721/UPREIT feature for this Trust — that is, no disclosed mechanism to contribute the property to a REIT's operating partnership in exchange for REIT units at the end of the hold. Exit is expected to come from a sale of the property, on terms described in the offering documents.
- What is the minimum investment, and who can invest?
- The Form D filings report a $25,000 minimum for outside investors. The Trust is offered under Rule 506(c), an exemption that allows general solicitation but requires the sponsor to take reasonable steps to verify that every investor is accredited — typically through tax documents, brokerage statements or a third-party letter.
- How current is this record?
- The most recent Form D amendment on file was made November 30, 2023, and no later filing was established in the sources reviewed. Because Form D updates are periodic rather than continuous, anyone mid-exchange should confirm directly with the sponsor or their representative whether the Offering is still open and whether any post-2023 refinancing or sale has occurred.
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.