Top1031

LSC-Reno NV, DST

in Reno, NV · sponsored by Livingston Street Capital

HistoricalLast Form D, filed Nov 6, 2023, reports the offering fully sold (opens in a new tab)

LSC-Reno NV, DST, sponsored by Livingston Street Capital, filed its first Form D with the SEC on Jul 24, 2023 for a $21.6 million offering. Its last Form D, filed Nov 6, 2023, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Nov 6, 2023, reports the offering fully sold.

Key facts

Minimum investment
$50,000
From the Form D
Offering size
$21,670,000
Equity offered, per the Form D
Sold
100%
Form D, Nov 6, 2023; the % is our arithmetic
Investors reported
76
Form D, Nov 6, 2023
Selling commissions
$2,015,310 · 9.3% of offering
Form D Item 15; the % is our arithmetic
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.

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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Ask a 1031 specialist about this recordFree. About: LSC-Reno NV, DST. Top1031 is not a broker-dealer.

What did LSC-Reno NV, DST own?

The public record does not establish what this Trust owns. The Form D/A selects only the broad "Residential" industry group and gives no property name, address, or operator, and the Radnor, Pennsylvania address on the filing is the issuer's office rather than a building. 1 A third-party exchange advisory directory describes the Trust as a closed senior-housing offering in Reno, Nevada, a lead no primary record corroborates. 3

Reported location
Reno, NV

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

The Form D/A reports the securities offered as equity and discloses no mortgage debt, loan principal, or loan-to-value, so whether the Trust carries leverage cannot be determined from the SEC record alone. 1

Costs and terms from the Form D

Selling commissions
$2,015,310 · 9.3% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$549,880 · 2.5% of offering
Form D Item 16
· The filing’s note: “Estimate of certain fees that may be paid and offering and organizational expenses that may be reimbursed to one or more Related Persons.”
Broker-dealers named in the Form D
12 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Aug 4, 2023
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?

The paperwork here is thin: an original Form D at launch and one amendment that updated the sales figures and reported a first sale date of August 4, 2023. 2 The Trust was offered under Rule 506(c), which lets a sponsor advertise publicly but requires it to verify that every buyer is an accredited investor.

Legal Trust name
LSC-Reno NV, DST
SEC CIK
1987002
First Form D
Jul 24, 2023
Latest Form D
Nov 6, 2023
Filings on record
2
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$21,670,000
$21,670,000+$21,670,000
76
EDGAR
Form D$21,670,000
$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 LSC-Reno NV, DST?
LSC-Reno NV, DST is a Historical offering. The last Form D, filed Nov 6, 2023, reports the offering fully sold.
What property does LSC-Reno NV, DST actually own?
The SEC record does not say. The Form D/A checks only the broad "Residential" industry group and provides no property name, address, or operator, so the underlying asset is not established by any primary filing. A third-party exchange advisory directory lists the Trust as a closed senior-housing offering in Reno, Nevada, but that description is uncorroborated by any property record. The offering documents would be the source of record for the asset.
Does the Trust use mortgage debt?
Unknown from the filings. The Form D/A reports an equity offering and discloses no loan amount, lender, or loan-to-value; Form D simply does not require that disclosure. Leverage, if any, would be described in the Trust's offering documents.
Is a 721/UPREIT exit contemplated?
Nothing in the record indicates one. A 721 or UPREIT exit is where a DST's property is contributed to a real estate investment trust in exchange for operating-partnership units, converting an investor's interest into REIT units instead of a taxable sale. This Trust is not flagged as a REIT-conversion candidate in the data on record.

In the news

Sources

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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.