Top1031

Salterra at Dunedin

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

HistoricalIn bankruptcy or distress · last Form D Aug 3, 2022dm.epiq11.com (opens in a new tab)

Salterra at Dunedin was a DST sponsored by Inspired Healthcare Capital that owned a senior living property in Dunedin, FL. In bankruptcy or distress.

How it ended

Lost or impaired investor capital

In bankruptcy or distress.

Source: cited report (opens in a new tab)

Key facts

Minimum investment
$50,000
From the Form D
Offering size
$18,589,896
Equity offered, per the Form D
Sold
Not reported after the first Form D (Aug 3, 2022)
Form D, Aug 3, 2022
Selling commissions
$1,673,091 · 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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Salterra at Dunedin image

Salterra at Dunedin · Dunedin, FL · Photo: leisurecare.com

What did Salterra at Dunedin own?

The community at 880 Patricia Avenue changed hands in September 2022, when the 70,500-square-foot building then known as Grand Villa of Dunedin sold for $26.5 million to Arizona-based Inspired Healthcare Capital. 4 Florida licensing records map the legal trust and the DBA Salterra Senior Living at Dunedin to that address. 2 Leisure Care said on July 7, 2025 that Volante of Dunedin had become Salterra at Dunedin under its management. 5

Reported location
Dunedin, FL
Property size
140 licensed beds

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

The Form D discloses no debt terms for the Trust itself. A 2022 report on the address said Inspired Healthcare Capital took an approximately $15.71 million Lakeland Bank mortgage at closing, but it does not identify the Trust as the borrower. 4

Debt

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

Costs and terms from the Form D

Selling commissions
$1,673,091 · 9.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,646,366 · 8.8% of offering
Form D Item 16
· The filing’s note: “Sponsor receives $278,848 of offering proceeds for marketing, organizational and offering expenses + an acquisition fee of $1,060,000 + estimated bridge financing cost of $307,518”
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?

A single Form D, never amended, is the whole SEC record for this Trust. It was offered under Rule 506(b), the private-placement rule that permits sales to accredited investors without general advertising or public solicitation.

Legal Trust name
Inspired Senior Living of Dunedin DST
SEC CIK
1940865
First Form D
Aug 3, 2022
Latest Form D
Aug 3, 2022
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$18,589,896
$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 Salterra at Dunedin?
Salterra at Dunedin is a Historical offering. In bankruptcy or distress.
What property does the Trust hold?
Salterra at Dunedin, an assisted living and memory care community at 880 Patricia Avenue in Dunedin, Florida. Florida's health care facility record for that address identifies Inspired Senior Living of Dunedin MT, LLC as owner/licensee. The building was previously known as Grand Villa of Dunedin and later Volante of Dunedin.
What is happening in the bankruptcy?
Inspired Healthcare Capital and affiliates filed Chapter 11 petitions on February 2, 2026, and official case information lists Inspired Senior Living of Dunedin DST among the related debtors. A corrected amended notice dated August 4, 2026 puts Salterra Senior Living at Dunedin in a court sale process, names Inspired Florida Acquisitions LLC as a bidder, sets an auction to begin August 25, 2026, and schedules a sale hearing for September 15, 2026. That notice does not establish approval or closing.
Who runs the community today?
Leisure Care announced on July 7, 2025 that Volante of Dunedin had been renamed Salterra at Dunedin and is managed by Leisure Care. No public document reviewed names a master tenant for the DST or discloses lease terms.
What was the minimum investment?
The August 3, 2022 Form D reported a $50,000 minimum investment for outside investors. The offering was made under Rule 506(b), meaning interests could be sold privately to accredited investors — broadly, those meeting SEC income or net-worth thresholds — without general advertising.
Has an outcome been reported for investors?
No completed outcome has been reported. Two investor-law publishers, Rights for Investors on July 25, 2025 and KlaymanToskes on February 3, 2026, said they were investigating the Dunedin DST and described suspended distributions and bankruptcy-related developments. The court sale process remains pending as of August 24, 2026.

In the news

Sources

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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.