Fuse; View on 10th; The Flats at West Village
3 student housing properties in 3 states · sponsored by Inland Private Capital
Active offeringLatest Form D filed Mar 9, 2026 (opens in a new tab)
Fuse; View on 10th; The Flats at West Village is a DST sponsored by Inland Private Capital that owns 3 student housing properties in 3 states. Its latest Form D, filed Mar 9, 2026, lists a $170.7 million offering with a $25,000 minimum.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $170,770,544Equity offered, per the Form D
- Sold so far
- Form D, Mar 9, 2026; the % is our arithmetic0.2%
- Investors reported
- Form D, Mar 9, 20261
- Selling commissions
- Form D Item 15; the % is our arithmetic$8,538,527 · 4.9% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.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 →
Sales so far
- Latest Form D
- Mar 9, 2026 · 1 filing
- First sale
- Feb 20, 2026
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $466,698
- Not yet sold
- $170,303,846
- Investors
- 1
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
0.2% of $170,770,544 sold, calculated by Top1031 from the Form D
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Ask a 1031 specialist about this recordFree. About: Fuse; View on 10th; The Flats at West Village. Top1031 is not a broker-dealer.Fuse; View on 10th; The Flats at West Village · West Lafayette, IN · Photo: tsbrealty.com
Multiple property locations are on record; no single map.
What does the Trust own?
Inland Real Estate Acquisitions and The Scion Group announced the three-property portfolio purchase on December 22, 2025. 3 AltsWire put the price at $327 million the same day. The communities are Fuse at Purdue in West Lafayette, View on 10th at Baylor in Waco, and The Flats at West Village near the University of Virginia in Charlottesville. Sponsor materials place each community in its own state-level operating trust. 2
- Property address
- 720 Northwestern Ave (Fuse, Purdue), West Lafayette, IN
- Property size
- 705 units / 1,829 beds
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
Leverage here means mortgage debt sits ahead of investor equity: lenders are paid from property cash flow before beneficiaries receive anything. Sponsor materials describe a separate, non-cross-collateralized loan on each property, so one community's debt does not directly reach the other two. 2 Trade press reported the acquisition financing was arranged by Walker & Dunlop through Freddie Mac.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $8,538,527 · 4.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $15,258,632 · 8.9% of offeringForm D Item 16· The filing’s note: “Estimate of certain fees, including Dealer Fee, Placement Agent Fee, O&O Expenses, Acquisition Fee and costs related to acquisition that may accrue to one or more related persons.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Inland Securities Corporation · CRD 15807
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Feb 20, 2026
- 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 Trust?
Inland Private Capital is the private-placement arm of the Inland group of companies, and the offering brochure identifies the parent trust as an affiliate. 2 On October 6, 2025 Inland Investments and The Scion Group announced a strategic relationship under which Scion operates off-campus purpose-built student housing owned by Inland affiliates, building on a stated $1.7 billion footprint. Inland named Andrew Barnum managing director of product strategy on July 20, 2026 and Thad Ingersoll head of compliance on August 25, 2026.
- Sponsor
- Offerings on record
What does the SEC record show?
No amendment has followed the original Form D notice, so nothing about this offering has been refiled with the SEC since it launched; that notice reported a first sale on February 20, 2026. 1 Interests are offered privately, without general advertising, to accredited investors — those meeting SEC income or net-worth thresholds — with the offering documents governing terms.
- Legal Trust name
- Inland Student Housing Portfolio DST
- SEC CIK
- 2117876
- First Form D
- Mar 9, 2026
- Latest Form D
- Mar 9, 2026
- Filings on record
- 1
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $170,770,544 | $466,698 | 1 | 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
- Is Fuse; View on 10th; The Flats at West Village an active offering?
- Fuse; View on 10th; The Flats at West Village is an Active offering: its latest Form D was filed Mar 9, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- What does this Trust actually own?
- The sponsor's offering brochure describes a parent trust holding three properties indirectly through state-level operating trusts: an Indiana trust holding Fuse at 720 Northwestern Avenue, West Lafayette (Purdue), described as 229 units and 489 beds; a Texas trust holding The View on 10th at 1001 Speight Avenue, Waco (Baylor), described as 257 units and 718 beds; and a Virginia trust holding The Flats at West Village at 852 West Main Street, Charlottesville (University of Virginia), described as 219 units and 622 beds. The SEC Form D itself names no real estate, so the property match rests on the sponsor brochure and on the December 22, 2025 acquisition announcement.
- Who is the tenant, and is the rent guaranteed?
- There is no anchor tenant paying a single rent. Student-housing revenue is assembled from academic-year leases signed by individual residents, and the sponsor brochure names The Scion Group LLC as manager. One institutional commitment appears in a public record: a Purdue University trustees item dated October 6, 2023 approved a lease at Fuse with landlord Madison Loft LLC covering 55 apartments with 173 student beds and two residential-assistant beds, running August 1, 2024 through July 31, 2026. The Flats at West Village's own website advertises the community as over 95% leased with limited availability for 2026–27 — an undated marketing claim, not independently verified occupancy.
- How is the debt structured?
- The Form D records the offering as leveraged, meaning mortgage debt is repaid from property cash flow before investor equity. The sponsor's undated offering brochure states an offering price of $320,505,544 made up of $170,770,544 of beneficial interests and $149,735,000 of loan proceeds, a 46.72% loan-to-offering-price ratio (the brochure does not label this an appraised-value LTV), and a separate loan on each property with a 10-year term and a fixed 5.12% annual interest rate, not cross-collateralized. Those are sponsor-stated figures, not confirmed by a loan document or an SEC filing. Separately, REBusinessOnline reported on July 31, 2026 that Walker & Dunlop arranged a $555.6 million Fannie Mae credit-facility refinancing for a 14-property Scion portfolio that includes Fuse; that report does not name this Trust, and its relationship to these mortgages is not established in the public record.
- Who can invest, and what is the minimum?
- The offering is made under Rule 506(b), a private-placement exemption that bars general advertising and limits sales to accredited investors, usually reached through pre-existing relationships. The Form D filed March 9, 2026 reports a total offering amount of $170,770,544 and a $25,000 minimum investment. Sponsors and broker-dealers sometimes apply different minimums to all-cash subscribers than to 1031 exchange investors, so the offering documents and subscription agreement govern which minimum applies to you.
- Does this Trust plan a 721/UPREIT exit?
- Nothing in the retrieved record describes one, and the Trust is recorded as not convertible to a REIT. A 721 or UPREIT exit is a structure in which a trust's real estate is contributed to a REIT's operating partnership in exchange for partnership units rather than sold for cash. Neither the Form D nor the sponsor's acquisition announcements describe such a feature here; exit mechanics are set out in the offering documents and the trust agreement.
- What did the portfolio cost, and when did it close?
- Inland Real Estate Acquisitions announced the purchase of the three-property Scion portfolio on December 22, 2025, and AltsWire reported a $327 million price that same day — a transaction price, not the DST's offering price. Trade press then covered individual closings: Global Student Living on January 6, 2026 for Fuse and REBusiness Online on January 16, 2026 for View on 10th. C-VILLE Weekly reported on October 22, 2025 that Inland had purchased The Flats at West Village for $107 million, but the research run did not conclusively match that buyer to the Virginia operating trust named in the brochure. No SEC filing states what this Trust or its operating trusts paid.
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.