Top1031

Salterra at Chesterfield

Senior living (assisted living and memory care) property in New Baltimore, MI — sponsored by Inspired Healthcare Capital

Files with the SEC as Inspired Senior Living of Chesterfield DST

Minimum investment
$50k
Offering size
$21.2M
How much has sold
None sold yet
Asset type
Senior living (assisted living and memory care) property
Location
New Baltimore, MI
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?

Salterra at Chesterfield is a Michigan assisted living and memory care community held in a Delaware Statutory Trust — the structure that lets 1031 exchangers own a fractional interest in real estate. Inspired Healthcare Capital sponsored it and filed a single Form D in June 2022. The sponsor and this trust entered Chapter 11 on February 2, 2026, and the community is now in a court-supervised sale process.4

Show sources (13)Hide sources (13)

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?

Salterra at Chesterfield is an assisted living and memory care community in New Baltimore, Michigan.2 The trust that holds it was formed in Delaware in 2022.1 Public records disagree on the particulars: the purchase agreement filed in the sponsor's bankruptcy gives the address as 29891 32 Mile Road and a Michigan Home for the Aged license for 62 residents, against the 29891 23 Mile Road the operator's own page lists.3

Reported location
New Baltimore, MI
Property size
74 resident capacity
Chapter 3

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

The trust leases the community to Inspired Senior Living of Chesterfield MT, LLC, an affiliated master tenant, under a master lease effective August 10, 2022 — so the trust collects rent rather than operating revenue.3 That master tenant engaged Senior Housing Management Group, LLC to run the community under a management agreement of the same date.3

Chapter 4

How did it end?

What happened

No sale or other ending on record

Inspired Senior Living of Chesterfield DST filed for Chapter 11 bankruptcy on February 2, 2026 (Case No. 26-90034, Northern District of Texas) as part of Inspired Healthcare Capital's broader insolvency; investor distributions were suspended in July 2025 amid an SEC investigation.

The IHC asset summary lists Salterra at Chesterfield, and the operator page gives 29891 23 Mile Road, New Baltimore, MI 48047; Oasis reports 74 resident capacity. The community is marketed as assisted living and memory care and was associated with Volante Senior Living; the reviewed coverage did not state that this DST was fully subscribed, sold out, or closed, so status_signal remains none.

74 resident capacity
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

Form D filings do not disclose property-level debt, and no loan documents, mortgage balance, or leverage figure for this trust surfaced in the public record reviewed.

Chapter 7

What does the paperwork say?

Nothing was filed with the SEC after the original notice of exempt offering, a private placement sold without advertising to accredited investors — people meeting SEC income or net-worth tests. The paper trail since runs through bankruptcy court, where a corrected notice dated August 4, 2026 set an auction for August 25 and a sale hearing for September 15, 2026.6

  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 Salterra at Chesterfield?

Top1031 lists Salterra at Chesterfield as historical. It is no longer raising money.

Where does Top1031 get the data for Salterra at Chesterfield?

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 this Trust?

No. The Trust is closed to new investors and its equity is not being offered. Inspired Senior Living of Chesterfield DST is a debtor in the jointly administered Chapter 11 case filed February 2, 2026 in the U.S. Bankruptcy Court for the Northern District of Texas, listed in official Epiq case materials as case 26-90103.

What is happening to the property now?

It is in a court-supervised sale. The Debtors selected SYMPO 2026, LLC, or an affiliate or designee, as stalking-horse bidder for substantially all assets relating to Salterra at Chesterfield, with Inspired Senior Living of Chesterfield DST as the DST seller. The asset purchase agreement filed August 10, 2026 allocates a purchase price of $3,000,000 to Salterra at Chesterfield. A corrected court notice dated August 4, 2026 set binding bids for August 20, credit bids for August 21, an auction beginning August 25, and a sale hearing on September 15, 2026. As of August 22, 2026, no completed sale appears in the researched record.

Who operates the community?

The Trust's affiliated master tenant, Inspired Senior Living of Chesterfield MT, LLC, holds the master lease effective August 10, 2022 and engaged Senior Housing Management Group, LLC as manager under an agreement of the same date. Leisure Care's community page lists Volante Senior Living as manager, supported by Leisure Care through White Glove Consulting Services. Senior Housing News reported on July 18, 2025 that Inspired Healthcare Capital was shutting Volante and transferring communities to other operators.

How much of the offering was ultimately sold?

The record does not establish a final figure. Only one Form D exists for this Trust, filed June 29, 2022, and it reports amounts as of that filing date. No amendment or later filing updating the subscription totals appears on the SEC record, so no final sold amount or investor count is documented.

Where exactly is the property, and how many residents does it hold?

Both details are unresolved in the public record. The bankruptcy-court purchase agreement lists 29891 32 Mile Road, New Baltimore, Michigan 48047, while Leisure Care and Oasis Senior Advisors list 29891 23 Mile Road at the same ZIP. On capacity, the purchase agreement cites a Home for the Aged license for 62 residents, while the Oasis community guide reports 74 resident capacity. No current occupancy figure was located.

What does a Delaware Statutory Trust bankruptcy mean for beneficial owners?

Ownership interests in a DST are beneficial interests in a trust that holds the real estate, which is what makes them eligible for 1031 exchange treatment. Here, the trust itself is a debtor in the Chapter 11 case, so the disposition of the property and any recovery to beneficial owners is being determined through that court process. The researched record does not state any distribution or recovery amount for investors.

Chapter 9

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