Minneapolis MSA Senior Living Portfolio
Senior living property — sponsored by Inland Private Capital
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
Minneapolis MSA Senior Living Portfolio DST is a Delaware statutory trust — passive co-ownership whose interests qualify for 1031 exchange treatment — holding three senior living communities in the Minneapolis metro area.2 Sponsored by Inland Private Capital, it is now Historical, meaning closed to new investors: Inland announced on July 25, 2024 that the offering had been fully subscribed and closed.2
Minimum investment
$25k
Offering size
$76.8M
How much has sold
100.0%
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited 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?
The Trust holds three Class-A senior living communities across the Minneapolis metro: The Waters of Edina, The Waters on 50th in Minneapolis, and The Waters of Plymouth.2 Multi-Housing News reported on January 3, 2024 that an Inland affiliate had bought the trio, and the Minneapolis/St. Paul Business Journal reported on January 2, 2024 that acquisition financing for the $95 million portfolio had been secured. Construction dates and unit mix are not in the public record.
- Property size
- 3 communities; 321 total units
Who is the tenant, and what's the lease?
Senior living is an operating business rather than a single-tenant net lease, so cash flow tracks resident occupancy and operator performance instead of one corporate tenant's rent. No operator, master-lease term, or occupancy figure for this Trust appears in the public record; the PPM (private placement memorandum) is the source for those.
How did it end?
Still operating
$76.7M raise for a three-property Class-A senior living portfolio in the Minneapolis MSA totaling 321 units: The Waters of Edina (6300 Colonial Way, Edina, MN); The Waters on 50th (3500 W 50th St, Minneapolis, MN); and The Waters of Plymouth (11305 Hwy 55, Plymouth, MN). Fully subscribed and closed per July 25, 2024 announcement.
3 communities; 321 total unitsSupporting evidence
Counted on Inland Private Capital’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
The Trust carries property-level mortgage debt, which sits ahead of investor equity and came attached to the buildings rather than being arranged by each investor. The lender, loan amount, and maturity are not identified in the public record, so those terms exist only in the offering documents.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Inland Private Capital Corporation, the securitized 1031 arm of the Inland Real Estate Group of Companies, is named as the sponsor in the Trust's Form D.1 Inland is among the longest-running and highest-volume DST sponsors, running many programs at once across multiple property types. On July 25, 2024 the firm announced that this offering had been fully subscribed and closed.2
- Sponsor
- Inland Private Capital
- 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 issuer reported December 6, 2023 as its date of first sale, then filed a run of amendments that each updated the amount sold until the raise was complete.1 It was offered under Rule 506(b), the private-placement exemption that bars public advertising and generally limits sales to accredited investors reached through existing relationships.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- Minneapolis MSA Senior Living Portfolio DST
- Filings on record
- 13
- 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
What happened to Minneapolis MSA Senior Living Portfolio?
Minneapolis MSA Senior Living Portfolio is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Minneapolis MSA Senior Living Portfolio?
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.
Can I still invest in this Trust?
No. Inland Private Capital announced on July 25, 2024 that the Minneapolis MSA Senior Living Portfolio DST offering was fully subscribed and closed, and the final Form D amendment was filed July 17, 2024. Trusts like this occasionally trade in private secondary transfers, but there is no public market and any transfer needs the sponsor's cooperation.
What exactly does the Trust own?
Three Class-A senior living communities totaling 321 units in the Minneapolis metro area: The Waters of Edina at 6300 Colonial Way in Edina, The Waters on 50th at 3500 West 50th Street in Minneapolis, and The Waters of Plymouth at 11305 Highway 55 in Plymouth, Minnesota.
Who runs the communities day to day?
The public record reviewed for this profile does not name the operator or describe any master lease or management agreement for this Trust. Because senior living depends heavily on the operator, that identity and the terms of its agreement are worth reading in the PPM (the private placement memorandum) before relying on any assumption.
Is there a 721/UPREIT exit?
Not according to the record here. A 721 or UPREIT exit is a structure in which the DST's property is later contributed to a REIT in exchange for operating-partnership units instead of being sold for cash. This Trust is recorded as not designed to convert to a REIT, so a conventional sale is the exit path shown.
Has anything been reported since the offering closed?
No outcome has been reported yet. Web research completed September 3, 2026 found no public record of a sale, refinancing, operator change, or distress event for this Trust after the July 2024 close, and no Form D amendments after July 17, 2024. Current investors should rely on sponsor investor reporting.
What did investors actually buy?
Beneficial interests in a Delaware statutory trust that owns the three communities.[1] A DST is passive by design: investors cannot manage the properties, negotiate the loan, or vote on operations, and the interests are treated as real property for Section 1031 exchange purposes, which is why exchangers use them.
Chapter 9Inland Fully Subscribes $76.7 Million Senior Living DSTSponsor release announcing the $76.7M Minneapolis MSA Senior Living Portfolio DST is fully subscribed and closed, comprising three Class-A senior living communities totaling 321 units: The Waters of Edina, The Waters on 50th, and The Waters of Plymouth. Inland Group Buys Trio in Twin CitiesTrade press article on the Inland affiliate's acquisition of three senior living communities in Minneapolis-St. Paul (The Waters of Edina, Plymouth, and on 50th), totaling 321 units. Financing secured for $95M sale of The Waters senior housing portfolioLocal business journal coverage of Inland-affiliate's $95M acquisition financing for The Waters senior housing portfolio (Edina, Plymouth, Minneapolis). Senior housing portfolio in Minneapolis-St. Paul financedPress release noting Inland Real Estate Group's affiliate secured acquisition financing for the $95M portfolio of The Waters of Edina, The Waters of Plymouth and The Waters on 50th (321 units).