Minimum investment
$25k
Offering size
$63.6M
How much has sold
6.0%
Asset type
Other property
Location
Odenton, MD
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
HZ Echelon DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional real estate — sponsored by Hamilton Zanze of San Francisco. A single Form D, filed August 26, 2022, registered a $63,626,000 offering sold privately to accredited investors under Rule 506(b), with a first sale dated August 4, 2022.2 The filing names no property, and no amendment has followed.
Show sources (6)Hide sources (6)
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?
The Form D names no property. It describes only a Delaware business trust with a San Francisco principal address, and no later filing adds detail.1 Separately, Hamilton Zanze reported closing on Echelon at Odenton, a 244-unit Class-A apartment community in Odenton, Maryland, on June 28, 2022.4 No reviewed public source connects that purchase to HZ Echelon DST, so the Trust's asset remains unconfirmed in the public record.
- Reported location
- Odenton, MD
How did it end?
No ending on record
No public disposition announcement or full-cycle press release was found for Echelon at Odenton (Odenton, MD, acquired June 2022); the trust appears to still hold the asset.
The trust-specific source says HZ Echelon DST was created by Hamilton Zanze and aimed to raise more than $63 million, but does not identify an underlying property, address, asset type, size, or exact-property image. Separate Hamilton Zanze coverage of Echelon at Odenton was not explicitly tied to this DST and was not used for enrichment.
Supporting evidence
How is it financed, and what does it pay?
Nothing in the public record states whether this Trust carries mortgage debt: the Form D names no lender, loan amount, or loan terms, and no later document was filed. The filing did report $331,728 in financing fees among the offering proceeds paid to affiliated parties.2
Who's behind it?
Hamilton Zanze is a San Francisco-based apartment investor; SEC records place this Trust at the firm's Graham Street address in the city's Presidio.1 The firm handles day-to-day property management through an affiliate, Mission Rock Residential, which took over operations at the Odenton community it bought in 2022.3 Hamilton Zanze has sponsored a series of Delaware statutory trusts aimed at 1031 exchange buyers.
- Sponsor
- Hamilton Zanze
- Legal Trust name
- HZ Echelon 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?
Rule 506(b) means the Trust could be offered privately, without public advertising, to accredited investors — people meeting SEC income or net-worth tests. Only the original notice sits on file: no amendment, no termination notice, and no closing filing has followed, so the record shows no confirmed end to the raise.1
- 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 HZ Echelon DST?
Top1031 lists HZ Echelon DST as historical. It is no longer raising money.
Where does Top1031 get the data for HZ Echelon DST?
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.
What property does HZ Echelon DST own?
The public record does not say. The Trust's only SEC filing, a Form D dated August 26, 2022, identifies HZ Echelon DST as a Delaware business trust and gives a San Francisco principal address, but names no property, address, or asset type. Hamilton Zanze separately reported buying Echelon at Odenton, a 244-unit apartment community in Odenton, Maryland, that closed June 28, 2022, and no reviewed source ties that purchase to this Trust. Anyone evaluating the offering would need the private placement memorandum (PPM), the sponsor's full disclosure document, to confirm the asset.
How large was the offering, and what was the minimum?
The Form D filed August 26, 2022 reported a total offering amount of $63,626,000 and a minimum investment of $25,000 per investor. The same filing stated the offering was not intended to last more than one year and reported a first sale date of August 4, 2022.
Is the Trust still open to new investors?
No SEC filing settles that. Only one Form D exists, and the issuer filed no amendment, closing notice, or termination since August 26, 2022. Sponsors are not required to file an amendment when an offering sells out or ends, so the absence of later filings is not evidence either way. Current availability would have to be confirmed with the sponsor or a selling broker-dealer.
Does the Trust use leverage?
Unknown from public sources. The Form D discloses no lender, loan amount, or loan-to-value figure, and no later filing addresses debt. It did report $331,728 in financing fees among proceeds paid to affiliated parties, which the filing does not explain further.
What is the law-firm page that mentions HZ Echelon DST?
On May 15, 2025, The White Law Group published a page naming HZ Echelon DST while soliciting investors about potential claims and FINRA arbitration against selling brokers. The page identifies no court case, docket number, filed complaint, court order, or regulatory enforcement action, and no primary litigation record surfaced in research. It is an attorney advertisement seeking clients, not a finding of wrongdoing by anyone.
Can this Trust convert into a REIT through a 721 exchange?
Nothing in the record indicates a 721/UPREIT exit — the arrangement in which a DST's property is contributed to a REIT's operating partnership in exchange for units. The available data records no such conversion feature for this Trust.
Chapter 8HZ Echelon DST: Investor LawsuitThe dated page identifies HZ Echelon DST as a Hamilton Zanze-created Delaware Statutory Trust offered for 1031 investors and discusses an investor-loss lawsuit investigation, but gives no underlying property address or size.