Cunat Exchange VII DST
Multifamily property in Richmond, IL · sponsored by Cunat
Cunat Exchange VII DST was a DST sponsored by Cunat that owned a multifamily property in Richmond, IL. Its last Form D, filed Aug 7, 2024, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Aug 7, 2024, reports the offering fully sold.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $41,064,053Equity offered, per the Form D
- Sold
- 100%Form D, Aug 7, 2024; the % is our arithmetic
- Investors reported
- Form D, Aug 7, 202492
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,971,075 · 4.8% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- 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 →
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: Cunat Exchange VII DST. Top1031 is not a broker-dealer.What did Cunat Exchange VII DST own?
The public record establishes this Trust's identity and its offering, but not its real estate. Filings and published coverage reviewed as of September 5, 2026 do not name the property, its address, or a unit count; the Form D describes only the issuer, at 5400 W. Elm St. in McHenry, Illinois. 1 Cunat, Inc.'s Illinois apartment deals appear in trade coverage, but those reports name the operating company rather than this Trust. 2
- Reported location
- Richmond, IL
How was it financed, and what did it cost to sell?
Leveraged means the Trust's real estate carries mortgage debt alongside investor equity, and the lender is repaid ahead of equity in any sale or refinancing. The lender's identity, the loan amount, and the maturity date for this Trust do not appear in the reviewed public record.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $1,971,075 · 4.8% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 12 named in the Form D
Show the firms
- Arete Wealth Management, LLC · CRD 44856
- Arkadios Capital · CRD 282710
- Cabin Securities, Inc. · CRD 137608
- Capulent LLC · CRD 155155
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Great Point Capital LLC · CRD 114203
- Lightpath Capital, Inc. · CRD 34617
- Metric Financial, LLC · CRD 33324
- Realta Equities, Inc. · CRD 23769
- Wealthforge Securities, LLC · CRD 152550
- Willow Cove Investment Group, Inc. · CRD 107824
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Dec 27, 2023
- Minimum investment
- $100,000
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.
Who's behind Cunat Exchange VII DST?
Cunat, Inc. is a McHenry, Illinois multifamily owner-operator whose first Exchange-series DST launched in 2019. 4 The Form D for this Trust lists Brian Cunat and John Cunat as executive officers. 3 On September 30, 2025 the sponsor announced the full-cycle completion of Cunat Exchange I DST — a separate, earlier trust holding five Illinois apartment properties — reporting a 12.14% annual return to those investors. 5
- Sponsor
- Offerings on record
What does the SEC record show?
The paperwork here is short: an initial Form D, then a single amendment that refreshed the sales figures and reported a first sale on December 27, 2023. 6 Nothing further has been filed with the SEC under this Trust's CIK.
- Legal Trust name
- Cunat Exchange VII DST
- SEC CIK
- 2005455
- First Form D
- Dec 21, 2023
- Latest Form D
- Aug 7, 2024
- Filings on record
- 2
- 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 | $41,064,053 | $41,064,053+$41,064,053 | 92 | EDGAR | |
| Form D | $41,064,053 | $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
- What happened to Cunat Exchange VII DST?
- Cunat Exchange VII DST is a Historical offering. The last Form D, filed Aug 7, 2024, reports the offering fully sold.
- What property does Cunat Exchange VII DST actually own?
- The public record does not say. The Trust's SEC filings identify it as a multifamily offering sponsored by Cunat, Inc. of McHenry, Illinois, but they do not name a property, address, or unit count, and no sponsor press release or trade coverage reviewed as of September 5, 2026 ties a specific apartment community to this Trust. Investors in the offering would find the property description in the Trust's offering documents.
- What does it mean that the Trust is leveraged?
- Leveraged means the Trust's real estate is financed partly with mortgage debt rather than being bought entirely with investor cash. For a 1031 exchanger, trust-level debt can help replace debt that was on the relinquished property; it also means the lender is paid before equity holders in a sale, and that a loan maturity is a date the trust has to manage. The lender and loan terms for this Trust are not disclosed in the public filings.
- Has Cunat taken any of its DSTs full cycle?
- Yes, a different one. On September 30, 2025 Cunat, Inc. announced the full-cycle completion of Cunat Exchange I DST, a separate 2019-vintage trust of five Illinois multifamily properties, reporting a 12.14% annual return to those investors. That result belongs to Exchange I, not to Exchange VII; JRW Investments' sponsor tracker still listed the Exchange VII investment as active in its full-cycle column.
- Who runs the Trust?
- Cunat, Inc., a McHenry, Illinois multifamily owner-operator, sponsors the Exchange series. The Trust's Form D lists Brian Cunat and John Cunat as related persons holding executive-officer roles with the issuer.
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.