Top1031

Inspired Senior Living of St. Petersburg

Senior living property in Saint Petersburg, FL · sponsored by Inspired Healthcare Capital

HistoricalLast Form D filed Feb 10, 2023 (opens in a new tab)

Inspired Senior Living of St. Petersburg was a DST sponsored by Inspired Healthcare Capital that owned a senior living property in Saint Petersburg, FL (192 units). Its last Form D was filed Feb 10, 2023.

How it ended

Lost or impaired investor capital

Last Form D filed Feb 10, 2023.

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$22,664,064
Equity offered, per the Form D
Sold
Not reported after the first Form D (Feb 10, 2023)
Form D, Feb 10, 2023
Selling commissions
$2,039,766 · 9.0% 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 →

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Inspired Senior Living of St. Petersburg image

Inspired Senior Living of St. Petersburg · Saint Petersburg, FL · Photo: media.stpetecatalyst.com

What did the Trust own?

Built in 1971, the four-story community at 3600 34th St. S. long operated as Grand Villa of St. Petersburg. VS St. Pete LLC sold it to the Trust for $29 million in a deal that closed June 9, 2023. 2 The building offers assisted living and memory care and is presented today as Salterra at St. Petersburg, formerly Volante of St. Petersburg. 3

Reported location
Saint Petersburg, FL
Property size
192 units / 120,784 sq ft

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

The purchase was partly debt-financed: the buyer took an approximately $7.1 million mortgage loan from Webster Bank, National Association. 2 No further debt terms appear in the single Form D on record.

Debt

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

Costs and terms from the Form D

Selling commissions
$2,039,766 · 9.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$2,108,491 · 9.3% of offering
Form D Item 16
· The filing’s note: “Sponsor receives $339,961 of offering proceeds for marketing, organizational and offering expenses + an acquisition fee of $1,160,000 + estimated bridge financing cost of $608,530”
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Not in the Form D
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?

One Form D is on record, filed under Rule 506(b) — a private placement offered to accredited investors without general advertising — and no amendment has followed it. The filing named Emerson Equity LLC as the recipient of selling compensation. 1

Legal Trust name
Inspired Senior Living of St. Petersburg DST
SEC CIK
1964606
First Form D
Feb 10, 2023
Latest Form D
Feb 10, 2023
Filings on record
1
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 sold
Form D$22,664,064
$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 Inspired Senior Living of St. Petersburg?
Inspired Senior Living of St. Petersburg is a Historical offering. Last Form D filed Feb 10, 2023.
What is the property, and who runs it now?
It is a four-story memory care and assisted living community at 3600 34th St. S. in St. Petersburg, Florida, originally built in 1971 and long known as Grand Villa of St. Petersburg. The property is presented today as Salterra at St. Petersburg, formerly Volante of St. Petersburg, and described as managed by Leisure Care.
Is there a master lease and a named tenant?
No master lease or tenant legal name was established in the public record reviewed for this profile. The single Form D on file does not disclose lease terms, and no offering documents or subsequent SEC filing is available on EDGAR for this Trust.
What debt is on the property?
Reporting on the June 2023 closing describes an approximately $7.1 million mortgage loan from Webster Bank, National Association taken by the buyer. No other debt terms — rate, maturity, or loan-to-value — appear in the Trust's single SEC filing.

In the news

St. Pete assisted living complex sells for $29MThe 120,784-square-foot Grand Villa of St. Petersburg, a four-story memory care and assisted living community at 3600 34th St. S., was sold for $29 million by VS St. Pete LLC to Inspired Senior Living of St. Petersburg DST, an entity connected to Arizona-based Inspired Healthcare Capital.
St. Pete Catalyst ↗

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.