HZ Foothills DST
sponsored by Hamilton Zanze
HZ Foothills DST, sponsored by Hamilton Zanze, filed its first Form D with the SEC on Oct 12, 2022 for a $64.9 million offering. Its last Form D was filed Oct 12, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed Oct 12, 2022.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $64,902,000Equity offered, per the Form D
- Sold
- 25.9%Form D, Oct 12, 2022; the % is our arithmetic
- Investors reported
- Form D, Oct 12, 20229
- Selling commissions
- Form D Item 15; the % is our arithmetic$0 · 0.0% of offering
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: HZ Foothills DST. Top1031 is not a broker-dealer.What did HZ Foothills DST own?
The Form D names no property; it lists only a principal place of business at 37 Graham Street, Suite 200B, San Francisco. 1 Hamilton Zanze announced on September 28, 2022 that it had acquired Springs at Foothills Farm, a 264-unit apartment community built in 2021 at 1203 Affirmed View in Colorado Springs, but no public record ties that purchase to this Trust. 2 What this Trust owns is therefore not established in public sources.
How was it financed, and what did it cost to sell?
Costs and terms from the Form D
- Selling commissions
- $0 · 0.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,114,070 · 3.2% of offeringForm D Item 16· The filing’s note: “Consists of amounts paid to affiliates of persons named in Item 3, including, $348,870 for Fin Fee, $1,633,200 for Prop Acq Fees, $112,000 for Org and Offering Fees, $10,000 for Legal Acq Fee, and $10,000 for Prop Mngmnt Due Dil and Training Fee.”
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Oct 4, 2022
- Minimum investment
- $25,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together.
Who's behind HZ Foothills DST?
Hamilton Zanze is a San Francisco-based apartment owner-operator that buys and manages multifamily communities around the country, with day-to-day management run through its affiliate Mission Rock Residential. 2 For this Trust, HZ Foothills Trust Manager, LLC signed as manager and signatory trustee, and Delaware Trust Company is named as trustee — the customary Delaware statutory trust arrangement in which the sponsor's affiliate makes the decisions. 1
- Sponsor
- Offerings on record
What does the SEC record show?
No amendment has followed the original filing, so the public record here has not moved since 2022. The offering was made under Rule 506(b), the private-placement exemption that bars general advertising and limits sales to investors the sponsor already has a relationship with — in practice, accredited investors.
- Legal Trust name
- HZ Foothills DST
- SEC CIK
- 1946807
- First Form D
- Oct 12, 2022
- Latest Form D
- Oct 12, 2022
- Filings on record
- 1
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $64,902,000 | $16,847,286 | 9 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- What happened to HZ Foothills DST?
- HZ Foothills DST is a Historical offering. Last Form D filed Oct 12, 2022.
- What property does HZ Foothills DST own?
- Public sources do not say. The Form D filed October 12, 2022 identifies the trust, its manager, and the size of the offering, but names no real estate. Hamilton Zanze separately announced a September 2022 purchase of the Springs at Foothills Farm apartments in Colorado Springs, and the names are similar, but no filing or sponsor statement links that property to this Trust. Treat the underlying asset as unconfirmed until you see the offering documents.
- What was the minimum investment?
- The Form D reported a $25,000 minimum outside investment. That is the figure as of the October 12, 2022 filing; minimums stated in offering documents can differ and can change during a raise.
- Does the Form D disclose fees?
- In part. The Form D reported $2,114,070 of gross proceeds paid or proposed to be paid to affiliates of persons named in Item 3, covering financing, property acquisition, organization and offering, legal acquisition, and property-management due-diligence and training fees. That single line is not a full load; the offering documents are where the complete fee table lives.
- Can this Trust roll into a REIT at the end?
- Nothing in the public record indicates a 721/UPREIT exit — the structure in which investors contribute their DST interest to a REIT's operating partnership for OP units instead of cash. Absent that feature, the ordinary path is a sale of the property and, if an investor wants continued deferral, another 1031 exchange.
- Has anything been written about this Trust since the raise?
- An investor-loss law firm, The White Law Group, published a page dated May 13, 2025 stating it was reviewing potential FINRA arbitration claims against brokerage firms that sold HZ Foothills DST.
In the news
Sources
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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 offering documents before investing.