Top1031

Sage Spring Senior Living (formerly Volante of Sage Spring)

Senior living property in San Marcos, TX · sponsored by Inspired Healthcare Capital

HistoricalLast Form D filed Dec 4, 2023 (opens in a new tab)

Sage Spring Senior Living (formerly Volante of Sage Spring) was a DST sponsored by Inspired Healthcare Capital that owned a senior living property in San Marcos, TX (90 units). Its last Form D was filed Dec 4, 2023.

How it ended

No outcome recorded · under 7 years

Last Form D filed Dec 4, 2023.

Key facts

Minimum investment
$50,000
From the Form D
Offering size
$30,992,485
Equity offered, per the Form D
Sold
Not reported after the first Form D (Dec 4, 2023)
Form D, Dec 4, 2023
Selling commissions
$2,789,324 · 9.0% of offering
Form D Item 15; the % is our arithmetic
Financing
All cash. This offering reports no mortgage debt.
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: Sage Spring Senior Living (formerly Volante of Sage Spring). Top1031 is not a broker-dealer.

What did the Trust own?

Sage Spring Senior Living opened in December 2020 and was described as stabilized when it changed hands in 2024. 1 JLL brokered that sale from a joint venture of Bow River Capital and Investcor to Inspired Healthcare Capital, at an undisclosed price. 1 Investcor describes the mix as 66 assisted-living and 24 memory-care residences. 2 The community was renamed Volante of Sage Spring on September 17, 2024. 3

Reported location
San Marcos, TX
Property size
90 units

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

Debt

Financing
All cash. This offering reports no mortgage debt.

Costs and terms from the Form D

Selling commissions
$2,789,324 · 9.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$2,656,801 · 8.5% of offering
Form D Item 16
· The filing’s note: “Sponsor receives $464,887 of offering proceeds for marketing, organizational and offering expenses + an acquisition fee of $805,000 + estimated bridge financing cost of $1,386,914”
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
$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.

What does the SEC record show?

No amendment or follow-on notice has been filed since the original Form D — the brief SEC notice an issuer files to claim a private-placement exemption. The Trust was offered only to accredited investors, meaning people meeting SEC income or net-worth thresholds, without general advertising or public solicitation.

Legal Trust name
Inspired Senior Living of San Marcos DST
SEC CIK
2001723
First Form D
Dec 4, 2023
Latest Form D
Dec 4, 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$30,992,485
$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 Sage Spring Senior Living (formerly Volante of Sage Spring)?
Sage Spring Senior Living (formerly Volante of Sage Spring) is a Historical offering. Last Form D filed Dec 4, 2023.
What is the property behind this Trust?
A 90-unit assisted living and memory care community in San Marcos, Texas, originally marketed as Sage Spring Senior Living. It opened in December 2020 and was described as stabilized when JLL brokered its 2024 sale from a Bow River Capital–Investcor joint venture to Inspired Healthcare Capital, at an undisclosed price. Investcor describes 66 assisted-living and 24 memory-care residences.
Why has the community changed names more than once?
Sage Spring Senior Living was renamed Volante of Sage Spring on September 17, 2024, after the sponsor's affiliated operator took over management. Leisure Care now lists the property as Mariella of Sage Spring at 802 Leah Ave, San Marcos. The naming changes track operator changes, not a change in the underlying building.
What does the public record not show?
No public source located the master-lease terms, the master tenant's economics, any property-level mortgage or other debt, numeric occupancy, or a court-approved sale or plan outcome. The only occupancy-related disclosure found was that the property was stabilized at the time of its 2024 sale. Reported closing dates also differ between March and May 2024.

In the news

Sources

Show sources (12)Hide sources (12)

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.