Top1031

Inspired Senior Living of Mequon

Senior living property in Mequon, WI — sponsored by Inspired Healthcare Capital

Files with the SEC as Inspired Senior Living of Mequon DST

Minimum investment
$25k
Offering size
$30.2M
How much has sold
None sold yet
Asset type
Senior living property
Location
Mequon, WI
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

Inspired Senior Living of Mequon DST is a Delaware statutory trust — fractional, passive property ownership that can qualify for 1031 exchange treatment — holding a senior living campus in Mequon, Wisconsin that Inspired Healthcare Capital bought on May 17, 2023.2 It is closed to new investors. Distributions were suspended in July 2025, and the Trust was named a debtor when the sponsor filed Chapter 11 on February 2, 2026.6

Show sources (12)Hide sources (12)

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.

Chapter 2

What exactly is the property?

Marquee Capital sold the campus — a 19-acre Mequon site with independent living, assisted living and memory care apartments, once known as Ovation Sarah Chudnow and later Terova Senior Living — to Inspired Healthcare Capital on May 17, 2023.2 Trade coverage of that sale described a community built in 2005 and counted 101 units, a figure that conflicts with the count shown here.3 The community operates today as Teal Shores on N Market Street.4

Reported location
Mequon, WI
Property size
145 units
Chapter 3

Who is the tenant, and what's the lease?

There is no single credit tenant behind this Trust: a senior living campus earns from residents, and the current operator's own page says apartments rent month to month with no long-term commitment or endowment fee.4 Capri Communities took over operations of the community on September 9, 2024, succeeding the operator installed at the 2023 sale.5

Chapter 4

How did it end?

What happened

In bankruptcy or distress

Debtor in Inspired Healthcare Capital's Chapter 11 bankruptcy (filed Feb 2, 2026); investor distributions suspended; outcome pending.

formerly Terova Senior Living / Ovation Sarah Chudnow · 145-unit senior living community (independent living + assisted living + memory care) in Mequon, WI; formerly Terova Senior Living of Mequon and prior to that Ovation Sarah Chudnow; acquired by Inspired Healthcare Capital on May 17, 2023 for conversion into the Inspired Senior Living of Mequon DST; approximately $30.2 million raised; distributions suspended July 2025; sponsor filed Chapter 11 in February 2026.

145 units
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

No lender, loan balance, or mortgage terms for this Trust appear anywhere in the public record located for it. The sole Form D disclosed an estimated bridge-financing cost of $737,474 — the kind of short-term carry expense a sponsor incurs between buying a property and closing investor equity.1

Chapter 7

What does the paperwork say?

One Form D, never amended, is the entire SEC record for this Trust, so the figures it reported were frozen on the day the offering opened. Investor-rights firm White Law Group reported on February 6, 2026 that the Trust had raised roughly $30.2 million and that distributions were suspended.8

  1. Form D filedFirst and latest filing on record.
Filings on record
1
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.

Chapter 8

Common questions

What happened to Inspired Senior Living of Mequon?

Top1031 lists Inspired Senior Living of Mequon as historical. It is no longer raising money.

Where does Top1031 get the data for Inspired Senior Living of Mequon?

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.

Can I still invest in Inspired Senior Living of Mequon DST?

No. The Trust is closed to new investors. Its only SEC filing is a Form D from February 10, 2023, and investor-rights firm White Law Group reported on February 6, 2026 that roughly $30.2 million had been raised. The sponsor and the Trust are now in Chapter 11 proceedings.

What happened to distributions?

Distributions were suspended in July 2025. Law firms began publicly investigating claims on behalf of Mequon DST investors that same month, and Inspired Healthcare Capital filed for Chapter 11 protection on February 2, 2026.

What does the sponsor's bankruptcy mean for this Trust?

Official Epiq case materials identify Inspired Senior Living of Mequon DST as one of the Chapter 11 debtors, not merely an affiliate of the filing sponsor. On August 10, 2026 the docket recorded a notice of a fully compiled asset purchase agreement with a stalking-horse bidder covering the Mequon property and an Appleton property. That is a notice, not a completed sale; no bidder name or price appears in the visible record.

Why do sources disagree on how many units the property has?

The property record used here reports 145 units, while trade coverage of the May 2023 sale reported 101 units for the same Mequon community. Nothing in the available public record resolves the discrepancy, and the sole Form D does not describe the property at all.

What has this property been called over the years?

It was originally Ovation Sarah Chudnow, then Terova Senior Living of Mequon under Marquee Capital ownership, then Inspired Senior Living of Mequon after the May 17, 2023 sale. It is currently presented as Teal Shores, operated by Capri Communities.

What does Rule 506(b) mean for how this was sold?

Rule 506(b) is a private-placement exemption: the sponsor could not advertise the offering publicly and sold it through existing relationships, essentially to accredited investors — those meeting SEC income or net-worth thresholds. Terms were set out in a private placement memorandum (PPM) given only to prospective investors, not filed with the SEC.

Chapter 9

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