The Oaks at Riverbend
Multifamily (Class A garden-style) property in Gonzales, Louisiana — sponsored by Griffin Capital
Files with the SEC as Griffin Capital (Heritage - Gonzales, LA) DST
Minimum investment
$25k
Offering size
$37.1M
How much has sold
99.0%
Asset type
Multifamily (Class A garden-style) property
Location
Gonzales, Louisiana
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
The Oaks at Riverbend is a 299-unit Class A garden-style apartment community in Gonzales, Louisiana, held in a Delaware Statutory Trust (DST) — a structure that lets 1031 exchange investors own fractional real estate. Baton Rouge Business Report reported the complex sold to Griffin Capital on May 27, 2025.2 Griffin Capital announced on March 9, 2026 that the Trust was fully subscribed after raising over $37 million of equity.3
Built 2023; launched Jul 2025; ~$37.13M equity raised, fully subscribed; Ascension Parish/Baton Rouge submarket
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These links support the public record as a whole; 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?
Griffin Capital's materials describe a garden-style community completed in 2023 in the Ascension Parish submarket of Baton Rouge.1 Baton Rouge Business Report reported on May 27, 2025 that Griffin Capital had bought the complex; that report named neither the seller nor the price.2 The sponsor's May 7, 2025 investor presentation reported 91.6% physical occupancy as of that date.1
- Property address
- 609 Saint Francis Pkwy, Gonzales, LA 70737, Louisiana
- Property size
- 299 units; total property square footage not established
Who is the tenant, and what's the lease?
Income comes from residents on ordinary apartment leases, not one corporate tenant. Griffin Capital's brochure describes a master lease to a Master Tenant — meaning the Trust's rent depends on that operator rather than on leases signed directly with residents — and does not name it.5 Greystar is identified as the professional property manager.4
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
99.0% reported sold
- Amount sold
- $36,802,558
- Still available
- $326,809
- Investors reported
- 101
- Total offering
- $37,129,367
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How is it financed, and what does it pay?
The Trust carries mortgage debt alongside investor equity rather than owning the building free and clear, so a lender's consent shapes any sale or refinancing. Griffin Capital's May 7, 2025 presentation describes the loan as interest-only, meaning no principal is repaid over its term.1 Neither the SEC filings nor the reviewed materials name the lender.
Who's behind it?
Griffin Capital issues its 1031 exchange programs through Griffin Capital Institutional Property Exchange, LLC, the entity named as sponsor in this Trust's SEC record, with one affiliate named as manager and another as contributor of the property.6 The firm announced on March 9, 2026 that the offering was fully subscribed.3 AltsWire reported the same outcome on March 6, 2026.
- Sponsor
- Griffin Capital
- Legal Trust name
- Griffin Capital (Heritage - Gonzales, LA) DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 3 active / 5 total offerings from Griffin Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
Form D — the brief notice a private offering files with the SEC — was amended repeatedly through the raise, each version restating the amount sold and the number of investors as subscriptions came in. Interests are offered privately, without general advertising, to accredited investors who meet SEC income or net-worth tests.
- 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
- 13
- 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
Is The Oaks at Riverbend still raising money?
Top1031 lists The Oaks at Riverbend as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for The Oaks at Riverbend?
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.
Is this Trust still accepting investors?
Griffin Capital announced on March 9, 2026 that the Trust was fully subscribed. A Form D amendment filed three days later, on March 12, 2026, still records a small unsold balance, so the sponsor's announcement and the SEC file are not identical measurement points. Anyone mid-exchange should confirm current availability directly with the sponsor or the selling broker-dealer before naming it as a replacement property.
What does owning through a DST mean for my 1031 exchange?
A Delaware Statutory Trust holds title to the real estate and investors buy beneficial interests in the Trust. The IRS treats those interests as direct real property ownership for exchange purposes, so they can serve as replacement property. Investors have no management role and cannot force a sale or a refinancing; the trustee and the sponsor control those decisions.
Who operates the apartments day to day?
Greystar is identified as the professional property manager for The Oaks at Riverbend. Griffin Capital's offering materials also describe a Master Tenant holding a master lease on the property, but the materials reviewed do not name that entity. The master lease terms, including any rent-deferral provisions, are set out in the PPM — the Private Placement Memorandum, the offering's full disclosure document.
Is there debt on the property?
Yes. Griffin Capital's investor presentation dated May 7, 2025 states $28,285,000 of loan proceeds at a 5.46% interest rate on ten-year, interest-only terms, and a 43.2% loan-to-offering-price ratio against a stated offering price of $65,414,367. The lender is not named in the SEC filings or in the materials reviewed; the PPM and loan agreement are where a buyer confirms lender identity, maturity, prepayment terms and reserves.
How full is the property?
Griffin Capital's investor presentation reported 91.6% physical occupancy as of May 7, 2025. No later occupancy figure appears in the public materials reviewed through August 28, 2026. A current rent roll and occupancy report are what a buyer asks the sponsor for.
Can this Trust convert into a REIT later?
The records here show no REIT conversion feature. Some sponsors build in a 721/UPREIT exit, in which the property is contributed to a REIT's operating partnership in exchange for units instead of being sold for cash. That path is not indicated for this Trust, so the PPM's exit-strategy section is where the available disposition options are set out.
Chapter 9Griffin Capital Fully Subscribes $37M Louisiana Multifamily DST OfferingAltsWire reports Griffin Capital fully subscribed the Griffin Capital (Heritage - Gonzales, LA) DST, which owns The Oaks at Riverbend multifamily community, after raising nearly $37.13 million in equity; the trust launched in July 2025.