Domain at Town Centre
Legal trust name FREX DB Series I DST
Offering size$40.2M
Asset typeMultifamily
LocationMorgantown, WV
FinancingNot disclosed
Regulation D exemptionRule 506(c)
Sponsor-reported potential 721/UPREIT exitNo
First filedMay 7, 2026
Last filedJun 23, 2026
Minimum$25k
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.
Domain at Town Centre is a 912-bed, 336-unit Class A purpose-built student housing community of more than 365,000 rentable square feet, built in 2012 about one mile from West Virginia University in Morgantown. It is held by FREX DB Series I DST and sponsored by Fortress Real Estate Exchange, serving as the first acquisition of the FREX 1031 platform, which closed on March 18, 2026. The property is net-leased to an affiliated master tenant under a 10-year master lease and was capitalized at roughly $75.98 million, including $35.805 million of Wells Fargo first-mortgage debt.
Min inv $25k (Form D); built 2012; 93% avg occupancy last 4 yrs; ~1 mi from WVU; $2.7M of $40.2M sold as of 6/23/26
336 units / 912 beds; 365k+ RSFBased on issuer-filed Form D notices through Jun 23, 2026. Amounts are self-reported, may lag current subscriptions, and do not confirm availability. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Reported sold as a percentage of stated offering amount7.0%
Capital sold, per latest Form D$2,731,772
Remaining amount reported in latest Form D$37,447,167
Investor count reported in latest Form D9
Stated minimum investment$25,000
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First filedMay 7, 2026
Latest filingJun 23, 2026
Filings tracked3
View filing on SEC EDGARForm D is an issuer notice filing. A filing does not mean the SEC approved, endorsed, or verified the offering.
Offering profile
SEC filings + cited sources
Property and location
Domain at Town Centre is a 336-unit, 912-bed Class A purpose-built student housing community spanning more than 365,000 rentable square feet, built in 2012 and located approximately one mile from West Virginia University in Morgantown, WV 2. The property has averaged 93% occupancy over the past four years 2. CoStar reported the acquisition as part of Fortress's expansion into DST-based tax-deferred investment products 4.
Acquisition and structure
Funds managed by Fortress affiliates closed the acquisition on March 18, 2026, marking the first investment of the Fortress Real Estate Exchange (FREX) 1031 platform, which targets senior housing, student housing, and multifamily properties 2. The property is net-leased to an affiliated master tenant, FREX DB LeaseCo Series I LLC, under a 10-year master lease supported by a $1.5 million demand note from FREX DST Holdings LLC, with a rent structure of base, capped additional, and performance-based supplemental rent 2.
Capitalization
Third-party offering material describes total capitalization of $75.98 million, comprising $40.18 million of sponsor equity and $35.805 million of Wells Fargo first-mortgage debt 3. The loan is fixed at 6.098%, interest-only for its full 10-year term, matures March 11, 2036, and was sized at 47.12% loan-to-cost, with Year 1 debt-service coverage of approximately 2.00x 3.
Offering and sponsor
An issuer-filed Form D/A dated June 23, 2026 reported a total offering amount of $40,178,939 with $2,731,772 sold as of that filing date 5. The trust operates as FREX DB Series I DST. Fortress Investment Group, founded in 1998, reported $54 billion of assets under management as of September 30, 2025 across roughly 2,000 institutional clients and private investors; its real estate exchange platform is led by global real estate head Tim Sloan 1.
In the news
Frequently asked questions
Is Domain at Town Centre currently active?
Domain at Town Centre is classified by Top1031 as active. “Active” reflects the latest public record and does not confirm that interests remain available.
Where does Top1031 get the data for Domain at Town Centre?
Top1031 tracks this offering from SEC Form D filings and cited sponsor disclosures. Filing data may lag current subscriptions and does not mean the SEC approved or verified the offering.