Farmhouse at Easley
Multifamily property in Easley, SC — sponsored by Hamilton Point Investments
Files with the SEC as HPI Farmhouse DST
Minimum investment
$200k
Offering size
$28.8M
How much has sold
92.0%
Asset type
Multifamily property
Location
Easley, SC
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Farmhouse at Easley is an apartment community in Easley, South Carolina, held in a Delaware statutory trust (DST) — the structure 1031 exchange investors use for fractional, passive ownership of real estate.1 Hamilton Point Investments launched the offering in January 2026 as its tenth DST, sold only to accredited investors.2 AltsWire reported it fully subscribed on May 15, 2026.2
LTV ~45%; yr1 cash flow ~4.35%; 95% occupied; built 2023; 10th HPI DST; fully subscribed at $28.8M (2026)
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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?
The community was built in 2023.1 CoStar reported in March 2024 that Orange Capital Advisors sold the newly built property to Hamilton Point Investments for $40.35 million, or $180,134 per unit, without stating a closing date.3 The sponsor's February 2026 brochure states an acquisition cost of $46,000,000 for the Trust and reports occupancy of 95.96% as of December 2025.1
- Property address
- 105 Stewart Dr, Easley, SC
- Property size
- 224 units
Who is the tenant, and what's the lease?
There is no single corporate tenant: income comes from individual apartment leases that turn over and must be re-let, so revenue tracks occupancy and market rents rather than one contracted payer. Hamilton Point Property Management, LLC has managed the property since May 2023 and is to continue.1 No master lease was identified in the materials reviewed.
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.
92.0% reported sold
- Amount sold
- $26,671,992
- Still available
- $2,176,606
- Investors reported
- 82
- Total offering
- $28,848,598
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How is it financed, and what does it pay?
Leveraged means the Trust carries mortgage debt that ranks ahead of investor equity and must be repaid or refinanced when it matures. The sponsor's February 2026 brochure contemplated a first mortgage of $23,000,000 on the property.1 No lender is named in the Form D filings or in the coverage reviewed.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Hamilton Point Investments is an apartment sponsor; trade coverage at the January 2026 launch reported the firm had acquired more than 35,000 apartment units across prior equity programs, and that this was its tenth DST, all of them fully subscribed since 2012. The Form D names HPI Farmhouse Depositor LLC as depositor and HPI Farmhouse Trust Manager LLC as manager and signatory trustee.4 On August 6, 2026, AltsWire reported the sponsor launched a $27.9 million DST for a 312-unit Ohio apartment community.
- Sponsor
- Hamilton Point Investments
- Legal Trust name
- HPI Farmhouse DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 1 active / 3 total offerings from Hamilton Point Investments
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust's Form D — the brief notice issuers file with the SEC for private placements — has been followed by a run of amendments that updated the amount sold rather than changing the offering's terms. Because the offering may be advertised publicly, the sponsor must affirmatively verify each buyer's accredited status rather than accept self-certification.
- 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
- 8
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- 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 Farmhouse at Easley still raising money?
Top1031 lists Farmhouse at Easley 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 Farmhouse at Easley?
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.
Can I still invest in HPI Farmhouse DST?
AltsWire reported on May 15, 2026 that Hamilton Point Investments had fully subscribed the offering, which would mean it is closed to new investors. The Trust's most recent Form D amendment, filed June 12, 2026, still recorded an unsold balance, and no later primary filing reconciling the two was located as of August 27, 2026. Confirm current availability with the sponsor or your representative.
Who is the tenant, and who operates the property?
There is no single corporate tenant. This is an apartment community, so revenue comes from many household leases rather than one long-term corporate lease, which means occupancy and rent levels can move every year. Hamilton Point Property Management, LLC has managed the property since May 2023 and, per the sponsor's February 2026 brochure, will continue to manage it. That brochure reports 95.96% occupancy as of December 2025 and 95% average occupancy over the trailing twelve months through December 2025.
What did Hamilton Point pay, and what is the Trust's cost basis?
Two dated figures exist from different sources and this directory does not reconcile them. CoStar reported on March 27, 2024 that Hamilton Point Investments bought Farmhouse at Easley from Orange Capital Advisors for $40.35 million, or $180,134 per unit; the article did not state a closing date. The sponsor's February 2026 brochure states an acquisition cost of $46,000,000, or $205,357 per unit and $186 per square foot, for the DST, which the brochure described as holding a binding agreement to acquire the property rather than owning it at that time. The controlling numbers are in the PPM — the private placement memorandum governing the offering — and the closing documents.
What is the minimum investment, and who can buy in?
The Form D record and the sponsor's brochure both state a $200,000 minimum. The Trust is offered under Rule 506(c), meaning it may be advertised publicly but sales are limited to accredited investors — people meeting SEC income or net-worth tests — whose status the sponsor must affirmatively verify, typically with tax returns, brokerage statements, or a letter from a CPA or attorney. AltsWire reported on May 15, 2026 that the equity was raised from accredited investors.
Is there a REIT or 721/UPREIT exit?
No. The record for this Trust shows no REIT conversion feature, so there is no indication of a 721 exchange — the transaction in which a DST's property is contributed to a REIT's operating partnership in exchange for units. The exit contemplated is a sale of the property; the PPM's disposition sections describe what the sponsor has actually committed to.
Chapter 9Hamilton Point Investments Fully Subscribes $28.8M HPI Farmhouse DSTHamilton Point Investments fully subscribed its $28.8M HPI Farmhouse DST, the 10th DST from HPI, all of which have been fully subscribed since 2012. Hamilton Point Investments Launches $28.8 Million HPI Farmhouse DSTAltsWire reports HPI's launch of its 10th DST — a $28.8 million, 224-unit apartment community in Easley, SC, offered under Rule 506(c).