Minneapolis MSA Senior Living Portfolio II DST
Senior living property in Lakeville and Savage, MN · sponsored by Inland Private Capital
Minneapolis MSA Senior Living Portfolio II DST was a DST sponsored by Inland Private Capital that owned a senior living property in Lakeville and Savage, MN. Its last Form D, filed Jul 16, 2025, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Jul 16, 2025, reports the offering fully sold.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $56,029,735Equity offered, per the Form D
- Sold
- 100%Form D, Jul 16, 2025; the % is our arithmetic
- Investors reported
- Form D, Jul 16, 2025133
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,801,487 · 5.0% 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(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: Minneapolis MSA Senior Living Portfolio II DST. Top1031 is not a broker-dealer.What did the Trust own?
Kingsley Shores & Place sits at 16880 Klamath Trail in Lakeville: a 156-unit community that includes Kingsley Place, a 55-unit active-adult building. Savage Senior Living at Fen Pointe is a 122-unit community across four floors at 5950 W. 130th Lane in Savage. 2 Inland Real Estate Acquisitions negotiated and closed both purchases for an Inland affiliate and reported each community 95 percent occupied at closing. 2 Silvercrest Properties previously owned the Lakeville asset. 3
- Reported location
- Lakeville and Savage, MN
- Property size
- 278 total units; square footage not stated
How was it financed, and what did it cost to sell?
Neither the Form D filings nor the sponsor materials reviewed state whether the Trust carries mortgage debt or holds the two communities all-cash, and no lender is named.
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
- $2,801,487 · 5.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $4,792,804 · 8.5% 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 Reimbursement of Acquisition and Financing that may accrue to one or more related persons.”
- Broker-dealers named in the Form D
- 17 named in the Form D
Show the firms
- Alexander Capital, L.P. · CRD 40077
- American Investors Company · CRD 38
- Ameritas Investment Company, LLC · CRD 14869
- Avantax Investment Services, Inc. · CRD 13686
- Cambridge Investment Research, Inc. · CRD 39543
- Centaurus Financial, Inc. · CRD 30833
- Cetera Wealth Services, LLC · CRD 13572
- Concorde Investment Services, LLC · CRD 151604
- DAI Securities, LLC · CRD 36673
- DFPG Investments, LLC · CRD 155576
- Emerson Equity LLC · CRD 130032
- Inland Securities Corporation · CRD 15807
- Muriel Siebert & Co., LLC · CRD 5376
- Osaic Wealth, Inc. · CRD 23131
- Park Avenue Securities LLC · CRD 46173
- Realta Equities, Inc. · CRD 23769
- Stifel Nicolaus & Company, Incorporated · CRD 793
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Oct 3, 2024
- 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-capital arm of the Inland group of companies and a long-established sponsor of 1031 exchange programs. An affiliate, Inland Real Estate Acquisitions, sourced and closed this two-property portfolio on behalf of an Inland entity. 2 On July 30, 2025 Inland announced the Trust was fully subscribed, expanding its senior living holdings. 1
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust was offered privately, without general advertising, to accredited investors — people meeting SEC income or net-worth tests — with whom the sponsor already had a relationship. Two later amendments updated the raise as it filled, the last reporting nothing left unsold.
- Legal Trust name
- Minneapolis MSA Senior Living Portfolio II DST
- SEC CIK
- 2040305
- First Form D
- Oct 8, 2024
- Latest Form D
- Jul 16, 2025
- Filings on record
- 3
- 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/A | $56,029,735 | $56,029,735+$226,640 | 133+2 | EDGAR | |
| Form D/A | $56,029,735 | $55,803,095+$53,201,262 | 131+128 | EDGAR | |
| Form D | $56,029,735 | $2,601,833 | 3 | 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 Minneapolis MSA Senior Living Portfolio II DST?
- Minneapolis MSA Senior Living Portfolio II DST is a Historical offering. The last Form D, filed Jul 16, 2025, reports the offering fully sold.
- What exactly does the Trust own?
- Two Class-A senior living communities in the Minneapolis–St. Paul metro: Kingsley Shores & Place Senior Community in Lakeville and Savage Senior Living at Fen Pointe in Savage, Minnesota. Inland reported 278 total units across the two properties, each offering independent living, assisted living and memory care.
- Who runs the communities day to day?
- The Waters Senior Living. Inland's acquisition release, dated October 10, 2024, states that Inland engaged The Waters team to manage both properties, and the Lakeville community's rebrand as The Waters of Kingsley Shores & Place was announced complete on April 28, 2025. Operator performance, not a corporate lease, drives property-level income in seniors housing.
- Is there a mortgage on the properties?
- Not disclosed in the records reviewed. Form D filings do not report debt, and the sponsor materials and trade coverage examined name no lender and state no loan amount or loan-to-value. An investor would look to the offering documents for the capital structure.
- Could this Trust be rolled into a REIT?
- The data on record shows no 721/UPREIT exit path — that is, no stated mechanism to contribute the properties to a REIT's operating partnership in exchange for partnership units. Exit terms for a DST are set out in its trust agreement and offering document.
- How was the purchase price determined, and is it public?
- Trade press reported a combined figure of roughly $82.9 million for the two communities in September 2024, but the independent acquisition report described the price as undisclosed and Inland's own acquisition release stated no price. Top1031 therefore treats the acquisition price as unresolved rather than established.
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.