Top1031

Sun Belt Multifamily Portfolio III DST

in Melbourne, FL · sponsored by Inland Private Capital

HistoricalLast Form D, filed Feb 24, 2021, reports the offering fully sold (opens in a new tab)

Sun Belt Multifamily Portfolio III DST, sponsored by Inland Private Capital, filed its first Form D with the SEC on Apr 17, 2020 for a $80.8 million offering. Its last Form D, filed Feb 24, 2021, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Feb 24, 2021, reports the offering fully sold.

Inland Private Capital has 8 active offerings on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$80,895,627
Equity offered, per the Form D
Sold
100%
Form D, Feb 24, 2021; the % is our arithmetic
Investors reported
133
Form D, Feb 24, 2021
Selling commissions
$7,199,711 · 8.9% of offering
Form D Item 15; the % is our arithmetic
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 →

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: Sun Belt Multifamily Portfolio III DST. Top1031 is not a broker-dealer.

What did the Trust own?

The portfolio is three multifamily communities with 599 units: 154-unit Christopher Todd Communities at Country Place in Tolleson, Arizona; 173-unit Christopher Todd Communities at Marley Park in Surprise, Arizona; and 272-unit Centre Pointe Apartments in Melbourne, Florida. 1 Country Place Trust bought its property on March 12, 2020 for $36,960,000. 2 The Tolleson community is now marketed as Vistoria At Country Place. 3

Reported location
Melbourne, FL

How was it financed, and what did it cost to sell?

The Trust is leveraged: each property carries mortgage debt alongside investor equity. The offering described Fannie Mae apartment loans arranged through NorthMarq Capital Finance for Marley Park and KeyBank for Space Coast. 1 The Country Place loan was fixed rate, with interest-only payments before it begins amortizing. 2

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$7,199,711 · 8.9% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$4,427,228 · 5.4% of offering
Form 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
44 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Apr 7, 2020
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.

What does the SEC record show?

The Trust reported April 7, 2020 as the date of its first sale, and a series of Form D amendments followed. 4 It was offered under Rule 506(b), which bars general advertising and limits buyers to accredited investors, broadly those meeting SEC income or net-worth tests.

Legal Trust name
Sun Belt Multifamily Portfolio III DST
SEC CIK
1808309
First Form D
Apr 17, 2020
Latest Form D
Feb 24, 2021
Filings on record
19
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$80,895,627
$80,895,627+$121,848
133+1
EDGAR
Form D/A$80,895,627
$80,773,779+$1,672,228
132+4
EDGAR
Form D/A$80,895,627
$79,101,551+$3,230,973
128+4
EDGAR
Form D/A$80,895,627
$75,870,578+$4,582,180
124+8
EDGAR
Form D/A$80,895,627
$71,288,398+$2,699,200
116+3
EDGAR
Form D/A$80,895,627
$68,589,198+$13,445,856
113+11
EDGAR
Form D/A$80,895,627
$55,143,342+$4,800,273
102+11
EDGAR
Form D/A$80,895,627
$50,343,069+$6,066,191
91+12
EDGAR
Form D/A$80,895,627
$44,276,878+$8,709,474
79+17
EDGAR
Form D/A$80,895,627
$35,567,404+$7,733,670
62+10
EDGAR
Form D/A$80,895,627
$27,833,734+$11,099,920
52+13
EDGAR
Form D/A$80,895,627
$16,733,814+$5,596,462
39+5
EDGAR
Form D/A$80,895,627
$11,137,352+$1,658,806
34+6
EDGAR
Form D/A$80,895,627
$9,478,546+$1,573,131
28+3
EDGAR
Form D/A$80,895,627
$7,905,415+$1,240,568
25+7
EDGAR
Form D/A$80,895,627
$6,664,847+$1,270,941
18+6
EDGAR
Form D/A$80,895,627
$5,393,906+$1,547,842
12+3
EDGAR
Form D/A$80,895,627
$3,846,064+$3,634,828
9+7
EDGAR
Form D$80,895,627
$211,236
2
EDGAR
Show all 19 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 Sun Belt Multifamily Portfolio III DST?
Sun Belt Multifamily Portfolio III DST is a Historical offering. The last Form D, filed Feb 24, 2021, reports the offering fully sold.
What does Sun Belt Multifamily Portfolio III DST own?
Three apartment communities with 599 units in total, according to Inland Private Capital's March 2020 offering brochure: Christopher Todd Communities at Country Place in Tolleson, Arizona (154 units), Christopher Todd Communities at Marley Park in Surprise, Arizona (173 units), and Centre Pointe Apartments in Melbourne, Florida (272 units).
Who pays the rent in this Trust?
Apartment residents do, rather than one corporate tenant. The offering documents describe each property as leased to an affiliated master tenant, including Country Place AZ Multifamily LeaseCo and Marley Park AZ Multifamily LeaseCo, which operate the communities and pay rent to the Trust. Inland Residential Real Estate Services is named as property manager.
How was the portfolio capitalized?
With both equity and debt. The brochure names NorthMarq Capital Finance as the Marley Park lender and KeyBank as the Space Coast lender, both under Fannie Mae's apartment lending program.
Are the properties still known by the names in the offering documents?
Two have been rebranded. The property websites for 2500 South 99th Avenue in Tolleson and 15025 West Old Oak Lane in Surprise now market those communities as Vistoria At Country Place and Vistoria At Marley Park. The Melbourne, Florida property is still marketed as Centre Pointe Apartments at 6705 Shadow Creek Trail.
What was the minimum investment?
$25,000, as reported in the Trust's Form D filings with the SEC.
When did the Country Place property change hands?
On March 12, 2020. The offering documents state that Country Place Trust acquired the Tolleson, Arizona property that day for $36,960,000. The same memorandum described the Marley Park and Space Coast purchases as expected to close later in March and April 2020.

Sources

Show sources (4)Hide sources (4)

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.