Onyx at Westgate
Multifamily property in Glendale, AZ · sponsored by Inland Private Capital
Onyx at Westgate was a DST sponsored by Inland Private Capital that owned a multifamily property in Glendale, AZ (190 units). Its last Form D, filed Aug 29, 2024, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Aug 29, 2024, reports the offering fully sold.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $72,121,822Equity offered, per the Form D
- Sold
- 100%Form D, Aug 29, 2024; the % is our arithmetic
- Investors reported
- Form D, Aug 29, 2024167
- Selling commissions
- Form D Item 15; the % is our arithmetic$5,877,928 · 8.1% of offering
- Financing
- All cash. This offering reports no 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: Onyx at Westgate. Top1031 is not a broker-dealer.What did Onyx at Westgate own?
The community sits on 17 acres at 7403 North 91st Avenue in Glendale, Arizona, and mixes 58 one-bedroom duplexes, 85 two-bedroom detached homes, and 47 three-bedroom bungalows. 1 It opened as The Bungalows at Westgate and was renamed Onyx at Westgate after the sale, which closed with the property reported 92 percent occupied. 2 Multi-Housing News reported Inland Real Estate Group bought it from Cavan Cos. for $62 million in February 2024. 3
- Reported location
- Glendale, AZ
- Property size
- 190 units
How was it financed, and what did it cost to sell?
No mortgage sits on the property — investor equity funded the purchase outright, so there is no lender, no loan maturity, and no debt service to cover before operations. 3
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $5,877,928 · 8.1% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,367,905 · 3.2% of offeringForm D Item 16· The filing’s note: “Item 16 is an estimate of acquisition fees, reimbursements for certain acquisition and financing costs, and offering and organizational expenses that may accrue to one or more Related Persons.”
- Broker-dealers named in the Form D
- 34 named in the Form D
Show the firms
- 1031 Securities Inc. · CRD 326590
- AAG Capital, Inc. · CRD 188
- American Portfolios Financial Services, Inc. · CRD 18487
- American Trust Investment Services, Inc. · CRD 3001
- Arkadios Capital · CRD 282710
- Ausdal Financial Partners, Inc. · CRD 7995
- Avantax Investment Services, Inc. · CRD 13686
- Berthel, Fisher & Company Financial Services, Inc. · CRD 13609
- Cadaret, Grant & Co., Inc. · CRD 10641
- Cambridge Investment Research, Inc. · CRD 39543
- Concorde Investment Services, LLC · CRD 151604
- DAI Securities, LLC · CRD 36673
- DFPG Investments, LLC · CRD 155576
- Emerson Equity LLC · CRD 130032
- Great Point Capital LLC · CRD 114203
- Independent Financial Group, LLC · CRD 7717
- LPL Financial LLC · CRD 6413
- Lightpath Capital, Inc. · CRD 34617
- Lion Street Financial, LLC · CRD 165828
- M.S. Howells & Co. · CRD 104100
- Metric Financial, LLC · CRD 33324
- Nationwide Planning Associates Inc. · CRD 31029
- Osaic Wealth, Inc. · CRD 23131
- Peak Brokerage Services, LLC · CRD 157045
- RCX Capital Group, LLC · CRD 114290
- Realized Financial, Inc. · CRD 22333
- Realta Equities, Inc. · CRD 23769
- Securities America, Inc. · CRD 10205
- Stifel Nicolaus & Company, Incorporated · CRD 793
- Triad Advisors LLC · CRD 25803
- Wealthforge Securities, LLC · CRD 152550
- Western International Securities, Inc. · CRD 39262
- Wintrust Investments LLC · CRD 875
- XML Securities · CRD 145589
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Mar 6, 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 Onyx at Westgate?
Inland Private Capital Corporation is the private-placement arm of the Inland real estate organization and one of the longer-running DST sponsors; its Form D for this Trust lists Keith D. Lampi as the sponsor's President and Chief Executive Officer, with Glendale BTR Exchange, L.L.C. as signatory trustee and Glendale BTR, L.L.C. as depositor. 5 The sponsor announced on September 25, 2024 that this build-to-rent Trust had been fully subscribed and closed. 1
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust filed an initial Form D notice — the short SEC form an issuer files when selling securities privately — and then amended it repeatedly through 2024, each amendment restating how much had been sold and how many investors had come in. It was offered privately to accredited investors, without general advertising.
- Legal Trust name
- Glendale BTR DST
- SEC CIK
- 2013517
- First Form D
- Mar 15, 2024
- Latest Form D
- Aug 29, 2024
- Filings on record
- 10
- 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 | $72,121,822 | $72,121,822+$13,444,443 | 167+24 | EDGAR | |
| Form D/A | $72,121,822 | $58,677,379+$11,561,022 | 143+24 | EDGAR | |
| Form D/A | $72,121,822 | $47,116,357+$14,366,861 | 119+26 | EDGAR | |
| Form D/A | $72,121,822 | $32,749,496+$5,316,360 | 93+17 | EDGAR | |
| Form D/A | $72,121,822 | $27,433,136+$2,891,777 | 76+10 | EDGAR | |
| Form D/A | $72,121,822 | $24,541,359+$5,679,120 | 66+20 | EDGAR | |
| Form D/A | $72,121,822 | $18,862,239+$5,961,741 | 46+16 | EDGAR | |
| Form D/A | $72,121,822 | $12,900,498+$3,930,395 | 30+9 | EDGAR | |
| Form D/A | $72,121,822 | $8,970,103+$4,903,432 | 21+15 | EDGAR | |
| Form D | $72,121,822 | $4,066,671 | 6 | EDGAR |
Show all 10 SEC Form D filings
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 Onyx at Westgate?
- Onyx at Westgate is a Historical offering. The last Form D, filed Aug 29, 2024, reports the offering fully sold.
- What does "build-to-rent" mean in this deal?
- Build-to-rent means the homes were purpose-built as rentals rather than for sale to individual buyers. At Onyx at Westgate that means detached homes, duplexes and single-story bungalows on a 17-acre site, leased and managed as one community — closer to a garden apartment operation in management terms, but with house-style product.
- Is there debt on the property?
- The offering record shows no mortgage financing; investor equity paid for the property, which Multi-Housing News described as an all-cash purchase. For an exchanger, an unleveraged Trust means there is no replacement debt to match, which matters if your relinquished property had a loan you needed to replace to defer full gain. Discuss that with your own tax adviser.
- Who is the tenant, and what happens when leases roll?
- There is no single tenant. Residents sign individual household leases, and the property website currently notes concessions on select homes and terms of 12 months or longer for select new move-ins. Income therefore depends on ongoing leasing in the Glendale submarket rather than one corporate credit.
- Has the Trust reported a sale or other outcome?
- No outcome has been reported yet. Public sources reviewed through September 5, 2026 show the acquisition, the raise, and the sponsor's full-subscription announcement, but no disposition, refinancing, or other exit event for Glendale BTR DST.
In the news
Sources
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These links support the record as a whole; individual details may come from different sources.
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.