Dancing River Assisted Living & Memory Care
Senior living property in Grapevine, TX · sponsored by Inspired Healthcare Capital
Dancing River Assisted Living & Memory Care was a DST sponsored by Inspired Healthcare Capital that owned a senior living property in Grapevine, TX (84 units). In bankruptcy or distress.
How it ended
Lost or impaired investor capital
In bankruptcy or distress.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $16,855,854Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Oct 20, 2022)Form D, Oct 20, 2022
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,517,027 · 9.0% of offering
- 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: Dancing River Assisted Living & Memory Care. Top1031 is not a broker-dealer.Dancing River Assisted Living & Memory Care · Grapevine, TX · Photo: leisurecare.com
What did the Trust own?
Same-address reporting describes Dancing River, an assisted living and memory care community built in 2010 that Inspired Healthcare Capital bought for $25 million on January 3, 2023. 2 That reporting said occupancy fell to 70% during the pandemic and had returned to 93% during the marketing period. 2 The community was rebranded Volante of Grapevine by September 26, 2024. 3 A Leisure Care page now lists the address as Mariella of Grapevine. 4
- Property address
- 3735 Ira E. Woods Ave, Grapevine, TX
- Property size
- 84 units (assisted living + memory care)
How was it financed, and what did it cost to sell?
No lender, loan amount, or leverage terms appear in the trust's SEC record, and no property-level debt figure was located in public sources. The asset and liability ranges on the bankruptcy docket are case-level estimates, not the property's mortgage balance. 5
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $1,517,027 · 9.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,572,395 · 9.3% of offeringForm D Item 16· The filing’s note: “Sponsor receives $252,838 of offering proceeds for marketing, organizational and offering expenses + an acquisition fee of $1,000,000 + estimated bridge financing cost of $319,557”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Emerson Equity LLC · CRD 130032
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $50,000
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?
Inspired Healthcare Capital sponsored a series of senior-housing Delaware statutory trusts, this one among them. Its holding company, this trust, and the Grapevine master tenant filed Chapter 11 petitions on February 2, 2026 in the Northern District of Texas, jointly administered under the holding company's lead case. 1 AltsWire reported on August 24, 2026 that Sonida Acquisition bid $18.125 million for the Grapevine community, with an auction and a September 15 sale hearing scheduled, and that lenders and a DST agent objected over how proceeds would be split. 6
- Sponsor
- Offerings on record
What does the SEC record show?
The trust's SEC file consists of its original Form D — the short notice a sponsor files for a private placement sold without registration — with no later amendment on record. The offering was made under Rule 506(b), which bars general advertising and limits sales to accredited investors the sponsor already has a relationship with.
- Legal Trust name
- Inspired Senior Living of Grapevine DST
- SEC CIK
- 1950364
- First Form D
- Oct 20, 2022
- Latest Form D
- Oct 20, 2022
- Filings on record
- 1
- 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 | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $16,855,854 | $0 | 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 Dancing River Assisted Living & Memory Care?
- Dancing River Assisted Living & Memory Care is a Historical offering. In bankruptcy or distress.
- Can I still place 1031 exchange proceeds into this Trust?
- No. The only SEC filing for Inspired Senior Living of Grapevine DST dates from October 20, 2022, and the trust itself filed a Chapter 11 petition on February 2, 2026 in the Northern District of Texas, jointly administered with the case of its sponsor's holding company. Its Grapevine property is in a court-supervised sale process, not a new-investor offering.
- What property is behind this Trust?
- The trust is tied to an 84-unit assisted living and memory care community at 3735 Ira E. Woods Ave. in Grapevine, Texas. Reporting at that address describes Dancing River, built in 2010 and bought by Inspired Healthcare Capital for $25 million on January 3, 2023. The site was rebranded Volante of Grapevine by September 26, 2024 and is now listed as Mariella of Grapevine. No primary SEC document reviewed here spells out the trust's property by name, so the property identification rests on same-address reporting.
- How much debt is on the property?
- That is not established. The bankruptcy docket for the Grapevine DST reports estimated assets and liabilities each in a range of roughly $1 billion to $10 billion and 10,001 to 25,000 creditors, which are case-reported ranges tied to the jointly administered proceeding rather than a property-level mortgage figure. No verified property-level loan amount, lender, or leverage disclosure was found.
- How was this offering sold, and to whom?
- Under Rule 506(b) of Regulation D, meaning the sponsor could not advertise the offering publicly and could sell only to accredited investors — broadly, individuals meeting SEC income or net-worth tests — typically ones it already knew. Investors in a Rule 506(b) deal receive offering documents describing the property, the lease, and the risks.
- Does this Trust have a 721/UPREIT exit?
- No. The record shows no provision for converting investors' interests into operating-partnership units of a REIT — the so-called 721 or UPREIT exit. The trust's path is now set by the Chapter 11 process that began February 2, 2026.
In the news
Sources
Show sources (8)Hide sources (8)
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.