The Ellington

Top1031 lists The Ellington as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.

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.

Lender-owned, or REO (real-estate-owned), describes property a bank holds on its own books after taking it back from a borrower who defaulted. Cove Capital said in a release dated July 24, 2026 that it acquired this 170-unit San Antonio community through a lender's REO disposition process, at a price below the appraised value and below the outstanding loan balance. The San Antonio Business Journal dated the purchase to May 2026. No deed, appraisal, or closing statement has been located to verify that price comparison, and no numeric purchase price is public.

Yes, from reporting and the property's own marketing rather than from SEC filings. The San Antonio Business Journal reported on July 29, 2026 that this Cove Capital offering is tied to The Ellington, an apartment community on San Antonio's Northeast Side, and The Ellington's official website gives the address as 5315 Gawain Drive, San Antonio, TX 78218. The Form D names only the legal issuer, SAN ANTONIO MULTIFAMILY 119 DST, with no property address.

Only accredited investors — broadly, individuals meeting SEC income or net-worth thresholds. The Offering is made under Rule 506(c), the exemption that permits general advertising but requires the sponsor to verify accredited status with documents such as tax returns or a letter from a CPA or attorney. The Form D filed June 11, 2026 reports a $1,000 minimum investment accepted from an outside investor, though sponsors and their selling agents commonly apply higher practical minimums for 1031 exchange buyers.

This record lists the Trust as leveraged, meaning debt would sit ahead of investor equity in the payment order. No public source verifies the loan itself: Cove Capital's acquisition release does not state a loan amount, interest rate, or maturity, and the Form D filed June 11, 2026 does not name a lender. The sponsor's reference to an outstanding loan balance describes what the prior borrower owed at the time of the REO sale, not necessarily debt this Trust carries. Financing terms appear in the Private Placement Memorandum (PPM), the private offering document a sponsor gives prospective investors.

The Trust remains open to new investors. The only Form D on record, filed June 11, 2026, reports a total offering amount of $15,821,820; the amount sold, amount remaining, and investor count from that filing appear in the sales rows on this page and are a June 2026 snapshot, not a current balance. No reviewed source reports the Offering as fully subscribed, and the SEC showed no later amendment as of August 23, 2026.

A fair amount. No retrieved public source establishes the year the building was constructed, the site acreage, current occupancy, a renovation budget or scope, or the owner of record after closing. A HAR.com listing for 5315 Gawain Drive names Tipton Group in connection with managing the apartments, but that is a secondary listing rather than a primary confirmation, and the official property site does not identify a manager. Operating history, capital plans, and management arrangements would be set out in the PPM.