Fuse; View on 10th; The Flats at West Village
Student housing (purpose-built, Scion-operated) property in Multi-state (3) — sponsored by Inland Private Capital
Files with the SEC as Inland Student Housing Portfolio DST
Minimum investment
$25k
Offering size
$170.8M
How much has sold
None sold yet
Asset type
Student housing (purpose-built, Scion-operated) property
Location
Multi-state (3)
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Inland Student Housing Portfolio DST is a Delaware statutory trust — the structure that lets 1031 exchange investors hold fractional real estate — raising equity against three purpose-built student-housing communities serving Purdue, Baylor and the University of Virginia.2 Inland Real Estate Acquisitions announced the portfolio purchase, made with The Scion Group, on December 22, 2025.1 Each property carries its own mortgage and its own master lease, with Scion managing.2
$327M 3-property Scion portfolio acq Dec 2025 (489+718+622 beds); trust match inferred from name/timing, implies ~48% LTV vs $170.8M equity
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These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Inland Real Estate Acquisitions announced on December 22, 2025 that it had purchased a three-property purpose-built student-housing portfolio from The Scion Group, serving Purdue, Baylor and the University of Virginia.1 The sponsor's February 12, 2026 offering brochure describes the Trust as indirectly holding those communities — Fuse in West Lafayette, The View on 10th in Waco and The Flats at West Village in Charlottesville — through separate operating trusts.2
- Property address
- 720 Northwestern Ave (Fuse, Purdue), West Lafayette, IN
- Property size
- 705 units / 1,829 beds
Who is the tenant, and what's the lease?
There is no single corporate tenant: student-housing income is rebuilt each academic year, bed by bed, and turns over almost entirely each summer. The sponsor's brochure states each property operates under its own master lease, with a master tenant running the property for its operating trust, and that The Scion Group LLC manages all three.2
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
Leveraged means mortgage debt sits ahead of investor equity — lenders are paid from property cash flow before anything reaches investors. The brochure describes a separate loan on each property with no cross-collateralization, so the three mortgages stand alone rather than backing one another.2 Walker & Dunlop arranged fixed-rate loans placed with Freddie Mac.1
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Inland Private Capital is the private-placement arm of the Inland Real Estate Group, a long-standing sponsor of 1031 exchange programs, and the Trust is an affiliate of it.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.5 Inland named Andrew Barnum managing director of product strategy on July 20, 2026.6 Thad Ingersoll became head of compliance on August 25, 2026.7
- Sponsor
- Inland Private Capital
- Legal Trust name
- Inland Student Housing Portfolio DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 79 total offerings from Inland Private Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The notice reports a first sale on February 20, 2026, weeks before it was signed, and the issuer answered that it does not intend the offering to last more than one year.4 Interests are sold privately, without general advertising, to accredited investors — people meeting SEC income or net-worth tests — so the offering is not marketed to the public.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
Is Fuse; View on 10th; The Flats at West Village still raising money?
Top1031 lists Fuse; View on 10th; The Flats at West Village as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Fuse; View on 10th; The Flats at West Village?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does this Trust actually own?
The SEC Form D names no property. The sponsor's February 12, 2026 offering brochure describes the parent trust as indirectly owning three student-housing properties through operating trusts: FUSE at 720 Northwestern Avenue, West Lafayette, Indiana; The View on 10th at 1001 Speight Avenue, Waco, Texas; and The Flats at West Village at 852 West Main Street, Charlottesville, Virginia. Inland's December 22, 2025 acquisition release identifies Fuse as 229 units and 489 beds, View on 10th as 257 units and 718 beds, and The Flats at West Village as 219 units and 622 beds. The private placement memorandum — the offering's full disclosure document — controls on title.
What did the portfolio cost?
Inland's own December 22, 2025 release announcing the purchase does not state a price. AltsWire's coverage the same day reported the three-property portfolio at $327 million, with roughly $107 million of that attributed to the Charlottesville property. Other secondary and distributor material carries a different total, so the figure is not settled in the public record. Separately, the sponsor's February 12, 2026 brochure reports an offering price of $320,505,544, which is the capitalization of the offering rather than a stated purchase price. The PPM governs.
Who is the tenant, and is the rent guaranteed?
Student housing has no anchor tenant paying a single rent; income is assembled from academic-year leases signed bed by bed. The sponsor's February 12, 2026 brochure states each property operates under its own master lease, with the applicable master tenant operating the property on behalf of the applicable operating trust, and that The Scion Group LLC manages the properties. No portfolio-wide occupancy figure was located in the public record. The Flats at West Village website displayed a marketing statement reading 'Over 95% Leased - Nearly Full,' but the page carries no date and no primary occupancy report for Fuse or View on 10th was found, so that language should not be read as a dated occupancy measurement.
How is the debt structured?
The sponsor's February 12, 2026 offering brochure reports $149,735,000 of loan proceeds and $170,770,544 of beneficial interests against a $320,505,544 offering price, a 46.72% loan-to-offering-price ratio, with a separate, non-cross-collateralized loan on each property carrying a ten-year term and a fixed 5.12% annual interest rate. Inland's acquisition release says Walker & Dunlop arranged the fixed-rate loans and placed them with Freddie Mac. The brochure excerpts do not state the payment structure or maturity dates. 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, a 489-bed West Lafayette community; that report does not name this Trust and its relationship to these mortgages is not established.
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 reached through pre-existing relationships. The Form D filed March 9, 2026 reports a $25,000 minimum investment from an outside investor. Sponsors and broker-dealers sometimes apply different minimums to all-cash investors than to 1031 exchange investors, so the PPM and subscription agreement govern which minimum applies to a given subscription.
Does this Trust plan a 721/UPREIT exit?
The record here does not indicate one. A 721 or UPREIT exit is a structure in which the trust's property is contributed to a REIT's operating partnership in exchange for partnership units instead of being sold for cash. Top1031's data on this Trust shows no such conversion feature, and neither the Form D nor the sponsor's acquisition materials describe one. The PPM is the controlling source on exit mechanics.
Chapter 9Walker & Dunlop Arranges $555.6M Refinancing for 14-Property Student Housing PortfolioREBusinessOnline reports Walker & Dunlop arranged a $555.6 million Fannie Mae credit-facility refinancing for Scion's 14-property student-housing portfolio, identifying FUSE—a 489-bed West Lafayette community—as part of the portfolio. Inland and Scion Acquire 489-Bed Student Housing Community at Purdue UniversityInland Real Estate Acquisitions LLC and The Scion Group acquired Fuse, a 489-bed, 229-unit student housing community near Purdue's Mackey Arena and Ross-Ade Stadium in West Lafayette, IN, as part of a three-property portfolio deal with financing arranged by Walker & Dunlop through Freddie Mac. Inland Real Estate Acquisitions, LLC Purchases University Student HousingPress release announcing the $327M acquisition of a three-property Scion-operated student housing portfolio totaling more than 1,800 beds serving Purdue, Baylor, and UVA campuses, the underlying property acquisition relevant to the DST.