Top1031

Rivertop Apartments

Multifamily property in Nashville, TN · sponsored by Hamilton Zanze

Historical · soldSold Jan 2023, as reported by Hamilton Zanze · last Form D Jan 17, 2023Sponsor source (opens in a new tab)

Rivertop Apartments was a DST sponsored by Hamilton Zanze that owned a multifamily property in Nashville, TN (224 units). Hamilton Zanze sold the property in Jan 2023, as reported by the sponsor.

How it ended

Sold, result reported by others, not by the sponsor

Sold Jan 2023.

Equity multiple
1.37× as reported by the sponsor
Date
Jan 19, 2023
Held
3.0 years

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
$42,984,000
Equity offered, per the Form D
Sold
99.6%
Form D, Jan 17, 2023; the % is our arithmetic
Investors reported
24
Form D, Jan 17, 2023
Selling commissions
$0 · 0.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
How it is financed ↓
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: Rivertop Apartments. Top1031 is not a broker-dealer.

What did Rivertop Apartments own?

Rivertop Apartments is a Class-A, garden-style luxury apartment community completed in 2019 by LIV Development at 5800 River Road in West Nashville. 1 Hamilton Zanze and Cantor Fitzgerald acquired the property in a transaction that closed on October 4, 2019. 1 Reviewed records do not show a separate acquisition by this Trust, whose Form D reports a first sale of securities on December 29, 2022. 2

Reported location
Nashville, TN
Property size
224 units

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

Nothing in the Form D or any other reviewed source states whether this Trust carries mortgage debt, so it cannot be described here as leveraged or all-cash. Form D notices do not disclose property-level financing; the offering documents do.

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.

Costs and terms from the Form D

Selling commissions
$0 · 0.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$0 · 0.0% of offering
Form D Item 16
· The filing’s note: “Consists of amounts paid to affiliates of persons named in Item 3, including, $235,575 for Fin Fee, $1,440,000 for Prop Acq Fees , $168,444 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
Dec 29, 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.

What does the SEC record show?

One Form D notice sits on this Trust's EDGAR record, reporting a first securities sale on December 29, 2022 and stating the offering was not intended to last more than one year. 2 Rule 506(b) is the private-placement route that bars general advertising and limits sales to accredited investors. No amendment has followed.

Legal Trust name
HZ Rivertop DST
SEC CIK
1960775
First Form D
Jan 17, 2023
Latest Form D
Jan 17, 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$42,984,000
$42,830,423
24
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 Rivertop Apartments?
Rivertop Apartments is a Historical offering. Sold Jan 2023, as reported by Hamilton Zanze.
Did this Trust earn the 137% total return reported for Rivertop Apartments?
That is unresolved from public records. Cantor Fitzgerald announced on January 19, 2023 that the sale of the 224-unit Rivertop Apartments produced a 137% total return, a 12% internal rate of return, and an approximately three-year hold. However, the sale coverage names CF Rivertop Multifamily DST, a separate SEC issuer (CIK 1791077) with a 2019 first sale date, while this Trust's Form D (CIK 1960775) reports a first sale in December 2022. Ask the sponsor which entity the reported result belongs to.
What is the property and who operates it?
Rivertop Apartments is a garden-style luxury apartment community at 5800 River Road in West Nashville, Tennessee, completed in 2019 by LIV Development. Mission Rock Residential assumed property management in October 2019 under an agreement from Hamilton Zanze Real Estate Investments and still markets leasing at the site.
Is the Trust leveraged?
No reviewed source says. A Form D does not disclose property-level mortgage debt, and neither the sponsor's acquisition release nor the disposition coverage states loan terms for this Trust. Leverage, lender identity, loan maturity, and any refinancing are questions for the offering documents.
Does the Trust have a 721/UPREIT exit?
The record shows no REIT conversion feature. A 721/UPREIT exit is the structure where a DST's property is contributed to a real estate investment trust's operating partnership in exchange for partnership units; nothing in this Trust's data indicates that path.

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.