The Cottages at Old Monrovia
Multifamily / build-to-rent property in Huntsville, AL — sponsored by Inland Private Capital
Files with the SEC as Huntsville SFR DST
Minimum investment
$25k
Offering size
$50.0M
How much has sold
100.0%
Asset type
Multifamily / build-to-rent property
Location
Huntsville, AL
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Huntsville SFR DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold a fractional interest in real estate — sponsored by Inland Private Capital. Inland's property page maps it to The Cottages at Old Monrovia, a build-to-rent cottage community in Huntsville, Alabama.1 The offering was made under Rule 506(b) and its filings run from May to late September 2022.
Show sources (8)Hide sources (8)
These links support the historical public record; 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's property page maps this Trust to The Cottages at Old Monrovia at 335 Culbertson Drive in Huntsville, Alabama.1 Capstone Communities and OG Capital developed the community jointly, announcing the start of construction in April 2020 with construction financing from Trustmark National Bank and Renasant Bank.3 On August 3, 2021 Capstone reported roughly a third of the cottages — with fenced backyards, sidewalks and individual curbside parking — complete and leasing.2
- Reported location
- Huntsville, AL
- Property size
- 275 standalone cottages; 25 acres
Who is the tenant, and what's the lease?
There is no single corporate tenant here. Income comes from many residents on short-term apartment leases rather than one net-lease occupant, and the property site continued to present the community as an active rental with one-, two- and three-bedroom homes.1 The reviewed public record names no master tenant or current operator.
How did it end?
No ending on record
No public evidence of a disposition, full-cycle sale, or 721 conversion was found for the Huntsville SFR DST; SEC EDGAR shows only the original Form D and routine Form D/A amendments during the May–September 2022 raise window [1].
Inland's property page maps Huntsville SFR DST to The Cottages at Old Monrovia; the underlying site describes one-, two-, and three-bedroom luxury apartments, while Capstone reported 275 standalone cottages on 25 acres. (Phase I, distinct from the later Phase II/Villas at Old Monrovia.)
275 standalone cottages; 25 acresSupporting evidence
How is it financed, and what does it pay?
Neither the Form D filings nor the sponsor materials reviewed disclose a loan amount, lender, or leverage for this Trust. The two banks named in the development story financed construction for the developer, before any Inland ownership.3
Who's behind it?
Inland Private Capital sponsors private real estate placements sold to accredited investors — people who meet SEC income or net-worth tests — and runs one of the larger 1031 exchange programs by number of offerings. The Form D for this Trust names Huntsville SFR Exchange, L.L.C. as signatory trustee and Huntsville SFR, L.L.C. as depositor.4 Research through August 21, 2026 surfaced no later sponsor filing or transaction tied to this Trust.
- Sponsor
- Inland Private Capital
- Legal Trust name
- Huntsville SFR 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 Trust filed an initial Form D — the short SEC notice a private offering files — then amended it roughly every two weeks to update the amount sold. Rule 506(b) means the offering could not be publicly advertised and relied on pre-existing relationships with accredited investors.
- 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.
- Filings on record
- 11
- 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 The Cottages at Old Monrovia?
Top1031 lists The Cottages at Old Monrovia as historical. It is no longer raising money.
Where does Top1031 get the data for The Cottages at Old Monrovia?
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.
Is this Trust still open to new investors?
The SEC record shows an initial Form D on May 13, 2022 and amendments through September 28, 2022, with no later filing in the reviewed record.[5] Inland has not filed anything for this Trust since. The sales data on this page shows the last reported amounts; anything after September 2022 is not in the public filing record.
Does the SEC filing confirm the Trust owns The Cottages at Old Monrovia?
No. The Form D and its amendments identify the trust and its trustee and depositor but do not name the property or its address.[4] The link comes from Inland's own property page, which maps Huntsville SFR DST to The Cottages at Old Monrovia at 335 Culbertson Drive.[1] Confirm ownership and legal description in the Trust's PPM (private placement memorandum, the full offering document) before relying on it.
What is the minimum investment?
The Form D/A dated September 28, 2022 reports a $25,000 minimum outside investment and a total offering amount of $49,986,820 in equity securities, offered under Rule 506(b).[4]
What kind of real estate is this?
Build-to-rent residential: standalone one-, two- and three-bedroom cottages rented like apartments, on a single Huntsville campus.[1] Capstone, the developer, described private fenced-in backyards, sidewalks and curbside parking for the community.[2] Unlike a net-leased single-tenant building, cash flow depends on many household leases turning over and on local occupancy and rents.
Has anything adverse been reported about this Trust?
On May 18, 2024, The White Law Group published a notice saying it was investigating potential securities claims involving broker-dealers that may have recommended Huntsville SFR DST. Independent research through August 21, 2026 did not surface an underlying primary record — no lawsuit docket, regulatory action, or sponsor disclosure — behind that notice.
What financial performance information is public?
None that is verifiable here. The public record reviewed contains no acquisition price, no debt terms or leverage ratio, no occupancy percentage, and no distribution history for this Trust. Form D filings report only offering size, amounts sold, investor counts, and minimums — not results. Sponsor investor reports and the PPM are where those figures live.
Chapter 9Charming Southern Architecture, Cottages at Old Monrovia Now LeasingCapstone described the 25-acre Cottages at Old Monrovia development as having 275 standalone cottages and reported that the first phase was leasing.