Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
HZ Greens DST is a Delaware statutory trust — fractional real-estate ownership structured to work as 1031 exchange replacement property — sponsored by Hamilton Zanze. It holds Greens at Van de Water, an apartment community in Loveland, Colorado.2 One Form D on file, offered under Rule 506(b). On February 26, 2026 Hamilton Zanze announced the property had been contributed to its HZ Evergreen Fund.3
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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?
The asset is Greens at Van de Water in Loveland, Colorado, which Hamilton Zanze describes as a Class-A, garden-style community of 252 apartment homes.3 BizWest reported HZ Greens DST as the buyer, with the sale recorded June 8, 2023 at $75.15 million.2 Sources reviewed through August 31, 2026 do not establish the year built or the on-site property manager.
- Reported location
- Loveland, CO
Who is the tenant, and what's the lease?
An apartment community has no single tenant: income comes from residents on individual leases that turn over regularly, rather than one long-term corporate lease. The public sources reviewed do not name the property manager or state an occupancy figure.
How did it end?
Converted to REIT units (721 exchange)
The Greens at Van de Water property (252-unit Loveland CO multifamily acquired by HZ Greens DST on June 8, 2023 for $75.15M) was contributed to the HZ Evergreen Fund on February 26, 2026, which permits tax-deferred IRC Section 721 exchanges of DST/1031 interests, indicating HZ Greens DST exited via a Section 721 exchange into the Evergreen Fund rather than an open-market sale [1][2][3].
How is it financed, and what does it pay?
Whether this Trust carries mortgage debt is not established by the public record — no lender, loan balance, or leverage disclosure surfaced in the sources reviewed. DST investors cannot refinance or add debt themselves, so financing terms are fixed at closing and set out in the PPM, the private placement memorandum given to prospective investors.
Who's behind it?
Hamilton Zanze is a multifamily real-estate sponsor; this Trust is managed through HZ Greens DST Manager, LLC. On February 26, 2026, Hamilton Zanze announced that Greens at Van de Water Apartments in Loveland had been contributed to the HZ Evergreen Fund, described as the ninth multifamily asset placed into that vehicle.3 The announcement itself does not spell out how DST investors were treated in the contribution.
- Sponsor
- Hamilton Zanze
- Legal Trust name
- HZ Greens 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?
The SEC file has not been amended since the original Form D — the short notice an issuer files after its first sale of securities under a private-placement exemption.1 Rule 506(b) allows sales to accredited investors without general advertising, so the offering is not publicly marketed.
- 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 Greens DST?
Top1031 lists HZ Greens DST as historical. It is no longer raising money.
Where does Top1031 get the data for HZ Greens 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 does HZ Greens DST own?
A single apartment community: Greens at Van de Water in Loveland, Colorado, which Hamilton Zanze describes as a Class-A, garden-style property with 252 apartment homes. BizWest reported that HZ Greens DST was the buyer and that the sale was recorded on June 8, 2023 for $75.15 million.
What happened to the property in 2026?
On February 26, 2026, Hamilton Zanze announced that Greens at Van de Water Apartments had been contributed to the HZ Evergreen Fund, which the sponsor described as the ninth multifamily asset placed into that fund. The announcement does not describe the tax treatment or the terms applied to individual DST interests.
Can I still invest in this Trust?
Only the sponsor or the selling broker-dealer can answer that. The SEC file contains one Form D filed July 18, 2023 and no later amendment, and Hamilton Zanze's February 26, 2026 announcement placed the property into the HZ Evergreen Fund. Availability of interests today is not something the filing record establishes.
Does the Trust use mortgage debt?
The public record reviewed does not say. No lender, loan principal, or loan-to-value figure appeared in the SEC filing or the sources reviewed through August 31, 2026. A Trust's debt structure is disclosed in its PPM (private placement memorandum), which is available from the sponsor or a participating broker-dealer.
What does Rule 506(b) mean for how this was sold?
506(b) is the private-placement exemption that lets an issuer sell to accredited investors — those meeting SEC income or net-worth tests — without general solicitation or advertising. In practice, offerings sold this way reach investors through existing relationships with broker-dealers and registered representatives rather than public marketing.
Who manages the apartments day to day?
The sources reviewed do not identify the property manager for Greens at Van de Water, and no occupancy figure was located. Management arrangements and fees for a DST-held property are described in the Trust's PPM.