Top1031

HZ Greens DST

in Loveland, CO · sponsored by Hamilton Zanze

Historical · convertedConverted into REIT units (721 exchange) Feb 2026, as reported by Hamilton Zanze · last Form D Jul 18, 2023Sponsor source (opens in a new tab)

HZ Greens DST, sponsored by Hamilton Zanze, filed its first Form D with the SEC on Jul 18, 2023 for a $89.1 million offering. Converted into REIT units (721 exchange) Feb 2026, as reported by Hamilton Zanze.

How it ended

No outcome recorded · under 7 years

Converted into REIT units (721 exchange) Feb 2026.

Date
Feb 26, 2026

Sponsor document (opens in a new tab)

Hamilton Zanze has 4 active offerings on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$89,100,000
Equity offered, per the Form D
Sold
57.3%
Form D, Jul 18, 2023; the % is our arithmetic
Investors reported
7
Form D, Jul 18, 2023
Selling commissions
$0 · 0.0% of offering
Form D Item 15; the % is our arithmetic
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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: HZ Greens DST. Top1031 is not a broker-dealer.

What did HZ Greens DST own?

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

How was it financed, and what did it cost to sell?

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 offering documents.

Debt

Converted to a REIT (721)
Yes: converted into REIT units Feb 2026
Sponsor document

Costs and terms from the Form D

Selling commissions
$0 · 0.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,919,641 · 2.1% of offering
Form D Item 16
· The filing’s note: “Consists of amounts paid to affiliates of Persons named in Item 3, incl, $286,016 for Fin Fee, $1,503,000 for Prop Acq Fees, $110,625, for Org and Offering Fees, $10,000 for Legal Acq Fee, and $10,000 for Prop Mngmnt Due Diligence and Training Fee”
Broker-dealers named in the Form D
None named in the Form D
Date of first sale
Jun 30, 2023
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.

What does the SEC record show?

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.

Legal Trust name
HZ Greens DST
SEC CIK
1980738
First Form D
Jul 18, 2023
Latest Form D
Jul 18, 2023
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D$89,100,000
$51,118,426
7
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 Greens DST?
HZ Greens DST is a Historical offering. Converted into REIT units (721 exchange) Feb 2026, as reported by Hamilton Zanze.
Did HZ Greens DST convert into REIT units through a 721 exchange?
Converted into REIT units (721 exchange) Feb 2026, as reported by Hamilton Zanze. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
How a DST-to-721 UPREIT exit works
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.
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 offering documents, which are available from the sponsor or a participating broker-dealer.
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 offering documents.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

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.