Top1031

Life Time Living Coral Gables; Left Bank

3 multifamily properties in 2 states · sponsored by Hines

HistoricalLast Form D, filed Oct 15, 2026, reports the offering fully sold (opens in a new tab)

Life Time Living Coral Gables; Left Bank was a DST sponsored by Hines that owned 3 multifamily properties in 2 states. Its last Form D, filed Oct 15, 2026, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Oct 15, 2026, reports the offering fully sold.

Key facts

Minimum investment
$250,000
From the Form D
Offering size
$590,648,975
Equity offered, per the Form D
Sold
100%
Form D, Oct 15, 2026; the % is our arithmetic
Investors reported
550
Form D, Oct 15, 2026
Selling commissions
$30,919,868 · 5.2% 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.
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: Life Time Living Coral Gables; Left Bank. Top1031 is not a broker-dealer.
Life Time Living Coral Gables; Left Bank image 1 of 2

Life Time Living Coral Gables; Left Bank · Coral Gables, FL · Photo: leftbankchicago.com

What did the Trust own?

Both buildings came out of Hines Global Income Trust, the sponsor's non-traded REIT. NRI and 54 Madison Partners completed the Life Time-branded Gables Station in 2021 and sold it to Hines the following year for $430 million. The REIT gives August 26, 2022 as that acquisition date. 2 Hines paid $151 million in November 2025 for Left Bank, a 37-story tower in Chicago's West Loop.

Property address
225 South Dixie Highway, Coral Gables, FL
Property size
946 units; approximately 957,847 square feet

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

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
$30,919,868 · 5.2% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$13,913,941 · 2.3% of offering
Form D Item 16
· The filing’s note: “Estimate of certain fees and expenses including Dealer Manager Fees and Organization and Offering Expenses which may accrue to one or more related persons.”
Broker-dealers named in the Form D
33 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Dec 17, 2025
Minimum investment
$250,000

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. The issuer marked these amounts as an estimate.

What does the SEC record show?

A Form D is the public notice a sponsor files after launching a private offering; the one here is the Trust's original notice rather than an amendment, and it names neither property nor any lender. Interests are sold privately, without general advertising, to accredited investors — those meeting the SEC's income or net-worth tests.

Legal Trust name
HREX 9, DST
SEC CIK
2100016
First Form D
Dec 15, 2025
Latest Form D
Oct 15, 2026
Filings on record
2
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/A$590,648,975was $618,397,358
$590,648,975+$590,648,975
550
EDGAR
Form D$618,397,358
$0
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 Life Time Living Coral Gables; Left Bank?
Life Time Living Coral Gables; Left Bank is a Historical offering. The last Form D, filed Oct 15, 2026, reports the offering fully sold.
What does HREX 9, DST actually own?
A third-party offering summary drawn from sponsor materials identifies two existing apartment communities: Life Time Living Coral Gables at 225 South Dixie Highway in Coral Gables, Florida, and Left Bank at 300 North Canal Street in Chicago's West Loop. Hines' own property pages put Gables Station at 495 apartments and Left Bank at 451 units. The December 15, 2025 Form D names neither property, so the trust-to-property link rests on sponsor and third-party material. The binding property schedule sits in the offering documents.
Who legally owns the buildings today?
Hines Global Income Trust's property page still presents Gables Station as a REIT property, naming the REIT as owner and carrying leasing data as of June 30, 2026. Its Left Bank page does the same. Ask the sponsor in writing for the title chain and the transfer documents.
Does the Trust use debt?
The federal record does not settle it. The December 15, 2025 Form D says nothing about property-level financing and names no lender. A third-party offering summary markets HREX 9, DST as an all-cash offering with no in-place mortgage and no scheduled debt service at the trust level, attributing that to sponsor materials the researcher could not independently review. Confirm the capital structure and any loan terms in the offering documents before relying on any description of leverage.
How full are the buildings?
Occupancy figures vary by source and as-of date, so match every number to its date. Hines Global Income Trust reported Gables Station 99% leased as of June 30, 2026. It reported Left Bank 97% leased as of the same date. Earlier data compiled for this record put Gables Station at 97% and Left Bank at 94% as of December 31, 2025. A third-party offering summary also quotes underwriting occupancy assumptions, which are modeling inputs rather than reported leasing. Apartment occupancy moves month to month with turnover, so ask for a current rent roll and the as-of date behind any quoted figure.
Has anyone actually invested yet, and what is the minimum?
The December 15, 2025 Form D is a launch-date snapshot and remains the only federal filing on record. State-level sales notices filed through NASAA's Electronic Filing Depository show subscriptions after that date: Alabama reported one investor and $250,000 sold on December 18, 2025. Missouri reported one investor and $2,500,000 sold on January 16, 2026. The Form D reports a $250,000 minimum investment from any outside investor, and selling broker-dealers can set higher minimums — verify current availability and closing timing with the sponsor or your broker-dealer.
Is there a planned REIT exit?
A third-party offering summary describes a planned mandatory Section 721 contribution into Hines Global Income Trust — a transaction that swaps trust interests for operating-partnership units in a REIT, after which the position is no longer 1031-exchangeable — but it documents no completed contribution. The Form D is silent on any exit mechanism.

In the news

Sources

Show sources (9)Hide sources (9)

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.