The Oaks at Riverbend
Multifamily (Class A garden-style) property in Gonzales, Louisiana — sponsored by Griffin Capital
Built 2023; launched Jul 2025; ~$37.13M equity raised, fully subscribed; Ascension Parish/Baton Rouge submarket
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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 on May 27, 2025 that Griffin Capital had bought the complex.2 Griffin Capital announced on March 9, 2026 that the Trust was fully subscribed.3
Minimum investment
$25k
Offering size
$37.1M
How much has sold
99.0%
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited 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 investor presentation describes a garden-style community built in 2023, averaging 997 square feet per apartment across a mix of 146 one-bedroom, 129 two-bedroom and 24 three-bedroom homes.1 Baton Rouge Business Report reported on May 27, 2025 that the California firm had bought the complex on St. Francis Parkway.2 Griffin Capital later reported a purchase price of $37,250,000.3
- Property address
- 609 Saint Francis Pkwy, Gonzales, LA 70737
- Property size
- 299 units; total property square footage not established
Who is the tenant, and what's the lease?
Griffin Capital's offering materials describe a master-lease structure, in which a master tenant leases the whole community from the Trust and runs it through a property manager it engages, so the Trust's income arrives as master-lease payments rather than directly from resident leases.1 The reviewed public materials do not name the master tenant or the property manager.
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
- Reported unsold
- $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 holds the property with mortgage debt alongside investor equity rather than owning it free and clear, so a lender's consent shapes any future sale or refinancing. Griffin Capital's May 2025 offering materials set out the loan proceeds, the fixed rate and an interest-only term.1 No reviewed source names the lender.
Who's behind it?
Griffin Capital, described in local reporting as a California real estate firm, sponsors single-asset DSTs for 1031 exchange investors.2 The Trust's March 12, 2026 Form D/A names Griffin - Heritage - Gonzales, LA, LLC as both sponsor and manager of the issuer, plus a related contributor entity.4 The firm announced on March 9, 2026 that the offering was fully subscribed after raising more than $37 million of equity.3 AltsWire reported the same outcome on March 6, 2026, noting the Trust launched in July 2025.5
- Sponsor
- Griffin Capital
- 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 were 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.
- Legal Trust name
- Griffin Capital (Heritage - Gonzales, LA) DST
- 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?
Sold out: the source record identifies this offering as Fully Subscribed. The sponsor’s SEC filings show the offering raising money within the past 15 months. A filing does not by itself confirm you can still buy in.
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, updated the SEC record and still reported a small unsold balance, so the sponsor announcement and the filing 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.
Who operates the apartments day to day?
Griffin Capital's offering materials describe a master tenant that leases the community from the Trust and engages a property manager. The public materials reviewed do not establish the legal name of that master tenant or of the property manager. The PPM — the Private Placement Memorandum, an offering's full disclosure document — and the master lease itself are where those parties and the lease terms are identified.
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.
Is there debt on the property?
Yes. Griffin Capital's May 2025 investor presentation stated $28,285,000 of loan proceeds against a total offering price of $65,414,367, a 43.2% loan-to-offering-price ratio, a fixed 5.46% interest rate and a 10-year interest-only term. The lender is not named in the SEC filings or in the materials reviewed; the PPM and the loan documents are where a buyer confirms the full terms.
How full was the property when the offering launched?
Griffin Capital's investor presentation reported physical occupancy of 91.6% and average rent of $1,510 per month, or $1.51 per square foot, as of May 7, 2025. No later occupancy figure appears in the public materials reviewed through September 13, 2026, and that 2025 number is not a current reading. A current rent roll and occupancy report are what a buyer asks the sponsor for.
What property-specific risks does the sponsor disclose?
Griffin Capital's offering materials flag reliance on the master tenant and its property manager, including the master tenant's ability to defer rent payable under the master lease, and note that the property sits in a hurricane-susceptible region. These are prospective disclosures: the reviewed record reports no actual master-tenant failure, financing default or storm loss at this property.
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.