Top1031

Salterra at Melbourne

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

HistoricalIn bankruptcy or distress · last Form D Aug 29, 2022dm.epiq11.com (opens in a new tab)

Salterra at Melbourne was a DST sponsored by Inspired Healthcare Capital that owned a senior living property in Melbourne, 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
$19,330,932
Equity offered, per the Form D
Sold
1.7%
Form D, Aug 29, 2022; the % is our arithmetic
Investors reported
1
Form D, Aug 29, 2022
Selling commissions
$1,739,784 · 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 →

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: Salterra at Melbourne. Top1031 is not a broker-dealer.
Salterra at Melbourne image

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

What did Salterra at Melbourne own?

The community operates at 964 S Harbor City Boulevard in Melbourne, Florida, offering assisted living and memory care. 1 A Florida facility record lists 165 licensed beds under license number 11991, effective July 1, 2025. 2 Directory records name Inspired Senior Living of Melbourne MT, LLC as owner and Leisure Care, LLC as manager. 3 No source located gives the year built, the Trust's acquisition date or price, or current occupancy.

Reported location
Melbourne, FL
Property size
101-199 assisted-living units; 16-30 memory-care units

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

The Form D itemizes an estimated $370,659 bridge-financing cost among offering expenses — the kind of interim loan used to close an acquisition before equity is fully raised — and discloses no permanent mortgage. 5 No lender, loan balance, or maturity appears in any source located.

Debt

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

Costs and terms from the Form D

Selling commissions
$1,739,784 · 9.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,720,623 · 8.9% of offering
Form D Item 16
· The filing’s note: “Sponsor receives $289,964 of offering proceeds for marketing, organizational and offering expenses + an acquisition fee of $1,060,000 + estimated bridge financing cost of $370,659”
Broker-dealers named in the Form D
2 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Aug 22, 2022
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 Form D and a same-day amendment set the offering at roughly $19.33 million with a $50,000 minimum and a first sale on August 22, 2022. 4 Interests were sold privately — no general advertising, and only to accredited investors, those meeting SEC income or net-worth tests. Nothing further has been filed with the SEC since.

Legal Trust name
Inspired Senior Living of Melbourne DST
SEC CIK
1944448
First Form D
Aug 29, 2022
Latest Form D
Aug 29, 2022
Filings on record
2
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 soldInvestors
Form D/A$19,330,932
$328,870
1
EDGAR
Form D$19,330,932
$328,870
1
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 Melbourne?
Salterra at Melbourne is a Historical offering. In bankruptcy or distress.
Is the property being sold, and at what price?
A corrected amended sale notice in the bankruptcy case lists Salterra Senior Living at Melbourne under stalking-horse bidder Inspired Florida Acquisitions LLC at docket no. 1181, with auction commencement scheduled for August 25, 2026 if an auction occurs and a sale hearing set for September 15, 2026. A secondary case summary published by Bondoro Insights on July 16, 2026 reports a $10,000,000 allocation and a $500,000 deposit for the property; the underlying purchase agreement and any closing are not confirmed in the primary record located.
Who operates the community day to day?
Directory records identify Leisure Care, LLC as the manager and Inspired Senior Living of Melbourne MT, LLC as the owner of record at 964 S Harbor City Boulevard. Leisure Care's own community page for Salterra at Melbourne describes assisted living and memory care. A Florida facility record lists 165 licensed beds under license number 11991, effective July 1, 2025.
How much debt does the Trust carry?
No public source located states it. The Form D itemizes an estimated $370,659 bridge-financing cost among offering expenses but does not identify a mortgage lender, loan balance, interest terms, or maturity, and no loan document was located. Leverage for this Trust is therefore unknown on the public record.
Could this Trust have converted into a REIT interest?
The record shows no 721/UPREIT feature — the structure in which a DST's property is later contributed to a REIT's operating partnership in exchange for partnership units. Nothing in the Form D or the sources located describes such an exit path for this Trust.

Sources

Show sources (16)Hide sources (16)

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.