865 Bellevue Apartments
Multifamily property in Nashville, TN — sponsored by Hamilton Zanze
Files with the SEC as HZ Bellevue DST
Minimum investment
$25k
Offering size
$40.6M
How much has sold
65.0%
Asset type
Multifamily property
Location
Nashville, TN
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
865 Bellevue Apartments is a 326-unit garden-style apartment community in Nashville's Bellevue neighborhood, held through HZ Bellevue DST — a Delaware statutory trust, the structure 1031 exchangers use to own fractional real estate. Hamilton Zanze is the sponsor. Its one and only Form D carries the same date Cantor Fitzgerald announced the property's sale on behalf of DST investors.4
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These links support the historical public record; 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?
865 Bellevue is a garden-style apartment community at 865 Bellevue Road in southwest Nashville.1 Aimco sold the property in 2019, with public records showing a price of $56.7 million.2 Hamilton Zanze and Cantor Fitzgerald bought it in April 2019 together with a second Nashville community, Post Ridge, for $80.2 million combined.3 Mission Rock Residential lists itself as the property's manager today.1
- Reported location
- Nashville, TN
- Property size
- 326 units
Who is the tenant, and what's the lease?
There is no single tenant here. Apartment communities lease unit by unit on short residential terms, so income depends on occupancy and renewals across hundreds of households rather than one corporate lease. The Trust's SEC filing discloses no lease terms.
How did it end?
Sold after 3.0 years; sponsor reported 156% total return
Cantor Fitzgerald/Hamilton Zanze JV sold 865 Bellevue Apartments in Nashville on behalf of HZ Bellevue DST investors, delivering a 156% total return and 15% IRR over an approximately three-year hold (acquired March 2019, sold late 2022) per Cantor Fitzgerald press release dated Dec 22, 2022.
865 Bellevue Apartments is a 326-unit garden-style multifamily community in Nashville's Bellevue neighborhood. Hamilton Zanze and Cantor Fitzgerald originally acquired the asset in April 2019. On December 22, 2022, the property was sold on behalf of the original DST investors, generating a 156% total return. The HZ Bellevue DST filing date of December 22, 2022 aligns with the disposition closing date, consistent with a successor trust vehicle used to facilitate the sale.
326 units156.0%Total return · as reported by the sponsor
15.0%Annualized return · as reported by the sponsor
Supporting evidence
How is it financed, and what does it pay?
The Form D discloses no debt terms for this Trust, and it names no lender. At the 2019 acquisition, KeyBank arranged Fannie Mae mortgage financing for the joint venture that bought the property.3
Who's behind it?
Hamilton Zanze is a multifamily real estate sponsor that has run a series of single-asset DST programs under the "HZ" name. Cantor Fitzgerald, its joint-venture partner on this property, announced the December 2022 sale on behalf of DST investors.4 On May 23, 2025, investor-rights firm The White Law Group published an alert soliciting complaints from HZ Rivertop DST investors that also named HZ Bellevue DST and HZ Crestone DST; that is a solicitation, not a finding.
- Sponsor
- Hamilton Zanze
- Legal Trust name
- HZ Bellevue DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 3 active / 18 total offerings from Hamilton Zanze
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
One Form D exists for this Trust, and it was never amended. It reports a first sale on December 16, 2022, six days before the filing date.5 The interests were placed privately with accredited investors — people meeting SEC income or net-worth tests — rather than publicly advertised.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- 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
What happened to 865 Bellevue Apartments?
Top1031 lists 865 Bellevue Apartments as historical. It is no longer raising money.
Where does Top1031 get the data for 865 Bellevue Apartments?
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 raising money?
Only one Form D exists for HZ Bellevue DST, filed December 22, 2022, and no amendment has appeared in the years since. That same date, Cantor Fitzgerald announced the sale of 865 Bellevue Apartments on behalf of DST investors, so the filing appears tied to the disposition rather than to an ongoing raise.[4] Check the status shown beside this record before assuming anything is available.
What happened to the property?
Cantor Fitzgerald announced on December 22, 2022 that the joint venture it formed with Hamilton Zanze had sold 865 Bellevue Apartments on behalf of DST investors, and reported a 156% total return and a 15% IRR over an approximately three-year hold.[4] The sale price was not stated in that announcement, and no public record of the proceeds was located.
Why does the Form D's filing date match the sale date?
Top1031's pipeline data notes that the December 22, 2022 filing date aligns exactly with the disposition closing, a pattern consistent with a successor trust vehicle used to facilitate a sale rather than a conventional new offering. Nothing in the Form D itself explains the purpose of the trust, so this remains an inference from the dates.
Who owns and manages 865 Bellevue Apartments now?
The current property page identifies Mission Rock Residential as the manager of 865 Bellevue Apartments at 865 Bellevue Rd, Nashville, TN 37221.[1] Post-sale ownership is not confirmed by any public record located in research, and the property page does not name an owner.
Are there legal matters involving this Trust?
On May 23, 2025, The White Law Group, an investor-rights firm, published an investor alert soliciting complaints from investors in HZ Rivertop DST that referenced related Hamilton Zanze programs, including HZ Bellevue DST and HZ Crestone DST. An attorney solicitation is not a court filing or a finding of wrongdoing. No primary-record evidence of litigation, foreclosure, or distress involving this Trust was located.
Chapter 9Cantor Fitzgerald Announces the Sale of 865 Bellevue Apartments in Nashville, TennesseePress release disclosing the sale of the 326-unit 865 Bellevue Apartments on behalf of DST investors, generating a 156% total return on original investment.