Top1031

Salterra at Melbourne

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

Files with the SEC as Inspired Senior Living of Melbourne DST

Minimum investment
$50k
Offering size
$19.3M
How much has sold
2.0%
Asset type
Senior living property
Location
Melbourne, FL
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 Melbourne is a Delaware Statutory Trust — a structure that lets 1031 exchangers hold a fractional interest in a single property — holding an assisted living and memory care community in Melbourne, Florida.1 Inspired Healthcare Capital sponsored it and filed the Form D in August 2022. The Trust filed for Chapter 11 on February 2, 2026, and the community now sits inside a court-supervised sale process.6

Show sources (16)Hide sources (16)

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?

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
Chapter 3

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

Senior housing DSTs generally lease the building to an affiliated master tenant, which in turn hires the operator, so the Trust collects rent rather than running the community itself. A Chapter 11 case summary places Inspired Senior Living of Melbourne MT, LLC in that master-tenant role.8 No lease term, rent, or renewal detail appears in any source located.

Chapter 4

How did it end?

What happened

In bankruptcy or distress

Debtor in Inspired Healthcare Capital's Chapter 11 bankruptcy (filed Feb 2, 2026); investor distributions suspended; outcome pending.

Florida's facility profile identifies Salterra Senior Living at Melbourne at this address and lists Inspired Senior Living of Melbourne MT, LLC; Salterra's property pages describe assisted living and memory care, while U.S. News lists 101-199 assisted-living units and 16-30 memory-care units. A 2026 investor alert describes the DST as a 2022 Inspired Healthcare Capital-sponsored offering of approximately $19.3 million with a $50,000 minimum, but no dated article located names this DST or definitively identifies the property beyond the facility-entity match.

101-199 assisted-living units; 16-30 memory-care units
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

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.

Chapter 7

What does the paperwork say?

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.

  1. Form D filedFirst and latest filing on record.
Filings on record
2
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 Melbourne?

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

Where does Top1031 get the data for Salterra at Melbourne?

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.

Is this Trust still open to new investors?

The SEC record has not changed since the Form D and its same-day amendment on August 29, 2022, so the offering was never formally withdrawn on EDGAR. In practice the picture is different: AltsWire reported on July 22, 2025 that Inspired Healthcare Capital had suspended all offerings and investor distributions amid a regulatory review, and PacerMonitor shows the Trust itself filed a Chapter 11 case on February 2, 2026 in the U.S. Bankruptcy Court for the Northern District of Texas.

What happened to the sponsor, Inspired Healthcare Capital?

AltsWire reported the firm halted offerings and distributions on July 22, 2025 amid a regulatory review and shut its Volante Senior Living operating arm; that on February 3, 2026 Inspired and more than 160 affiliated entities filed Chapter 11 with estimated liabilities of $1 billion to $10 billion; that a court approved a $40 million debtor-in-possession facility and a June 24, 2026 auction in March 2026; and that on June 11, 2026 the auction was pushed to July 29 as the stalking-horse deadline was extended.

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.