The Oaks at Riverbend

Property and structure

The Oaks at Riverbend is a 299-unit, Class A, garden-style multifamily community at 609 St. Francis Parkway, Gonzales, LA 70737, in the Ascension Parish submarket of the Baton Rouge MSA. Built in 2023, the community averages 997 square feet per home, with a unit mix of 146 one-bedroom (49%), 129 two-bedroom (43%), and 24 three-bedroom (8%) units. It is the sole real-estate asset of Griffin Capital (Heritage – Gonzales, LA) DST, sponsored by Griffin Capital ¹². The DST is held under a master lease / master tenant structure, and the sponsor's risk factors note reliance on the master tenant and the third-party property manager it engages ¹.

Capitalization and financing

As reported by the sponsor in June 2025, the DST carried a maximum equity offering of $37,129,367 and loan proceeds of $28,285,000, for a total offering price of $65,414,367 — a loan-to-offering-price ratio of 43.2%. The financing carries a 10-year, interest-only term at a fixed 5.46% rate ¹. Griffin Capital cited investor minimums of $100,000 for 1031-exchange investors and $25,000 for cash investors ¹.

Operating snapshot

As of May 7, 2025, the sponsor reported average rent of $1,510 ($1.51 per square foot) and physical occupancy of 91.6% ¹.

Offering completion

On March 9, 2026, Griffin Capital announced that the DST was fully subscribed after raising more than $37 million of equity to acquire the property ². An issuer-filed Form D/A dated March 12, 2026 reported a total offering amount of $37,129,367 and total sold of $36,802,558 ³.