The Province
Student housing property in Tampa, FL · sponsored by IDEAL Capital Group Holdings
The Province was a DST sponsored by IDEAL Capital Group Holdings that owned a student housing property in Tampa, FL. Its last Form D, filed Jan 13, 2026, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Jan 13, 2026, reports the offering fully sold.
IDEAL Capital Group Holdings has 1 active offering on record →
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $41,140,000Equity offered, per the Form D
- Sold
- 100%Form D, Jan 13, 2026; the % is our arithmetic
- Investors reported
- Form D, Jan 13, 2026100
- Selling commissions
- Form D Item 15; the % is our arithmetic$99,615 · 0.2% of offering
- 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(c)May be advertised publicly. Every buyer’s accredited status must be verified.
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: The Province. Top1031 is not a broker-dealer.The Province · Tampa, FL · Photo: louisvillecardinal.com
What did The Province own?
The Form D filings name the trust, the sponsor and the offering, but they do not identify the real estate behind it. Top1031's property data places The Province as student housing near the University of South Florida in Tampa, while IDEAL's own site describes a separate 366-unit community also called The Province in Louisville, Kentucky, acquired in 2025. 2 Which of the two this Trust holds is unresolved.
- Property address
- 10921 McKinley Drive, Tampa, FL
How was it financed, and what did it cost to sell?
No lender, loan balance, or all-cash structure appears anywhere in the public record for this Trust; the Form D filings report only the equity being raised. Whether the Trust carries mortgage debt would be set out in the offering documents.
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
- $99,615 · 0.2% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $3,983,335 · 9.6% of offeringForm D Item 16· The filing’s note: “Estimate includes Offering & Organization Exp., Acquisition Fee, Structuring, Financing and Loan Fees, Marketing & Due Diligence Allowance, Wholesaling Allowance, Managing Broker-Dealer Fee & Closing Costs that may be paid to one or more related persons.”
- Broker-dealers named in the Form D
- 13 named in the Form D
Show the firms
- Aurora Securities · CRD 46147
- DAI Securities, LLC · CRD 36673
- DFPG Investments, LLC · CRD 155576
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Great Point Capital LLC · CRD 114203
- Independent Financial Group, LLC · CRD 7717
- Lighthouse Capital Group, LLC · CRD 169135
- Orchard Securities, LLC · CRD 133378
- Realized Financial, Inc. · CRD 22333
- Realta Equities, Inc. · CRD 23769
- Stax Capital · CRD 300607
- Wealthforge Securities, LLC · CRD 152550
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Aug 22, 2025
- 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. The issuer marked these amounts as an estimate.
Who's behind The Province?
IDEAL is a private real estate firm that runs a dedicated DST program page marketing student housing offerings to 1031 exchange investors. The original Form D names it as the sponsor of this Delaware statutory trust. 1 Its property page reports that IDEAL acquired a 366-unit community called The Province in Louisville, Kentucky, adjacent to the University of Louisville, in 2025. 2
- Sponsor
- Offerings on record
What does the SEC record show?
The original filing reported that the first sale had not yet occurred. 1 The single amendment later reported a first sale date of August 22, 2025 — earlier than that original filing — and a fully subscribed offering. 3 It is offered by general solicitation, meaning the sponsor may advertise publicly but every buyer's accredited-investor status must be verified.
- Legal Trust name
- IDEAL Province DST
- SEC CIK
- 2084025
- First Form D
- Sep 2, 2025
- Latest Form D
- Jan 13, 2026
- Filings on record
- 2
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $41,140,000 | $41,140,000+$41,140,000 | 100 | EDGAR | |
| Form D | $41,140,000 | $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 The Province?
- The Province is a Historical offering. The last Form D, filed Jan 13, 2026, reports the offering fully sold.
- Which property does this Trust actually own?
- That is not established. Top1031's data identifies The Province, student housing at 10921 McKinley Drive in Tampa, Florida, near the University of South Florida. IDEAL's own website separately describes a 366-unit community also named The Province in Louisville, Kentucky, which it reports acquiring in 2025. The SEC Form D and its amendment identify only the issuer, sponsor and offering figures — no address, property, or operator. Ask the sponsor for the offering documents, which name the asset.
- Does the Trust use mortgage debt?
- Unknown from public filings. A Form D reports the securities being offered, not the property's capital stack, and neither filing for this Trust discloses a lender, loan amount, loan-to-value, or an all-cash structure. Leverage matters to a 1031 investor because replacement debt can be needed to match the debt retired on the relinquished property, so this is a question for the offering documents.
- What was the minimum investment?
- Both Form D filings reported a $25,000 minimum investment from any outside investor. Sponsors frequently set higher minimums for 1031 exchange subscriptions than for cash investors, and the Form D figure does not distinguish between the two.
- Is there a 721 or UPREIT exit?
- No. The Trust is not recorded as offering a 721/UPREIT exchange — the structure in which a DST's property is later contributed to a real estate investment trust in exchange for operating-partnership units. Absent that feature, an exit would ordinarily come from a sale of the property, after which investors may attempt another 1031 exchange.
- How many filings does this Trust have?
- Two: the original Form D dated September 2, 2025 and one amendment dated January 13, 2026. Neither adds property-level detail. A Form D is a short notice of an exempt securities sale, not a disclosure document — the offering documents are where the property, lease, debt and fees are described.
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.