Versailles Apartments
Multifamily property in Towson, MD · sponsored by Livingston Street Capital
Versailles Apartments was a DST sponsored by Livingston Street Capital that owned a multifamily property in Towson, MD (210 units). Its last Form D, filed Nov 9, 2023, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Nov 9, 2023, reports the offering fully sold.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $39,500,000Equity offered, per the Form D
- Sold
- 100%Form D, Nov 9, 2023; the % is our arithmetic
- Investors reported
- Form D, Nov 9, 2023123
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,675,000 · 9.3% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.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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Ask a 1031 specialist about this recordFree. About: Versailles Apartments. Top1031 is not a broker-dealer.Versailles Apartments · Towson, MD · Photo: commercialobserver.com
What did Versailles Apartments own?
Versailles Apartments sits at 111 Versailles Circle in Towson, Maryland, just north of Baltimore. 1 ROSS Companies announced in December 2017 that it had bought the community, with its management arm running the property and its construction arm handling common-area work and interior renovations in select apartments. 2 Commercial Observer reported in October 2022 that Livingston Street Capital acquired the property from Cadre for $62.8 million. 3
- Reported location
- Towson, MD
- Property size
- 210 units; one-, two-, and three-bedroom units ranging from 1,016 to 1,544 square feet
How was it financed, and what did it cost to sell?
The Form D filings disclose no debt terms, and no lender, loan balance, or leverage figure for this Trust appears in the public records reviewed. Whether the property is held with mortgage financing or free of debt is not disclosed in the sources available.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $3,675,000 · 9.3% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $781,500 · 1.9% of offeringForm 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
- 18 named in the Form D
Show the firms
- Advisory Group Equity Services Ltd. · CRD 15427
- American Trust Investment Services, Inc. · CRD 3001
- Capulent LLC · CRD 155155
- ClearFP Securities, LLC · CRD 312370
- DAI Securities, LLC · CRD 36673
- DFPG Investments, LLC · CRD 155576
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Great Point Capital LLC · CRD 114203
- IBN Financial Services, Inc. · CRD 42360
- Lightpath Capital, Inc. · CRD 34617
- McDermott Investment Services, LLC · CRD 154926
- Orchard Securities, LLC · CRD 133378
- Realized Financial, Inc. · CRD 22333
- Realta Equities, Inc. · CRD 23769
- TCFG Wealth Management, LLC · CRD 164153
- Wealthforge Securities, LLC · CRD 152550
- Whitehall-Parker Securities, Inc. · CRD 10608
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Aug 8, 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.
Who's behind Versailles Apartments?
Livingston Street Capital, LLC is named as the sponsor on the Trust's Form D, and the issuer is organized as a Delaware statutory trust. 5 The firm's 2023 multifamily brochure lists Versailles Apartments among its Towson transactions, which is the main public link between the sponsor's acquisition and this legal entity. No public deed or county record reviewed names LSC-Towson MD, DST as titleholder, so treat that connection as inferred rather than documented.
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust filed its initial Form D on July 25, 2022, before any securities were sold, then amended twice as the raise progressed; the November 2022 amendment reported a first sale on August 8, 2022. 6 The offering was made under Rule 506(b), the private-placement exemption that bars general advertising and limits sales here to accredited investors.
- Legal Trust name
- LSC-Towson MD, DST
- SEC CIK
- 1939611
- First Form D
- Jul 25, 2022
- Latest Form D
- Nov 9, 2023
- Filings on record
- 3
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $39,500,000 | $39,500,000+$18,022,208 | 123+63 | EDGAR | |
| Form D/A | $39,500,000 | $21,477,792+$21,477,792 | 60 | EDGAR | |
| Form D | $39,500,000 | $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 Versailles Apartments?
- Versailles Apartments is a Historical offering. The last Form D, filed Nov 9, 2023, reports the offering fully sold.
- What property is behind this Trust?
- Versailles Apartments, an apartment community at 111 Versailles Circle in Towson, Maryland, north of Baltimore. Commercial Observer reported in October 2022 that Livingston Street Capital acquired it from Cadre for $62.8 million. Public records reviewed do not expressly name LSC-Towson MD, DST as the titleholder, so the match rests on the sponsor's own Towson transaction materials and the trust name.
- Is the Trust leveraged?
- Unknown from public sources. Form D filings do not report debt, and no lender, loan amount, or loan terms for this Trust were found in the records reviewed. Anyone evaluating the deal would need the offering documents.
- Who manages the apartments?
- ROSS Companies announced in December 2017 that ROSS Management Services would manage Versailles Apartments after its purchase of the community, and ROSS Companies still maintained a property page for Versailles Apartments listing available units as of August 2026. Whether that management arrangement is contracted by the Trust is not stated in public sources.
- Has the Trust reported a sale or other exit?
- No outcome has been reported. The SEC record for this Trust ends with the November 9, 2023 Form D amendment, and no disposition, refinancing, or 721/UPREIT roll-up — a conversion of DST interests into REIT operating-partnership units — appears in the sources reviewed. The Trust's filings indicate no REIT conversion feature.
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.