Versailles Apartments
Multifamily property in Towson, MD — sponsored by Livingston Street Capital
Files with the SEC as LSC-Towson MD, DST
Minimum investment
$50k
Offering size
$39.5M
How much has sold
100.0%
Asset type
Multifamily property
Location
Towson, MD
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
LSC-Towson MD, DST is a Delaware statutory trust sponsored by Livingston Street Capital that raised capital from accredited investors and is tied to Versailles Apartments, an apartment community in Towson, Maryland.1 A DST lets 1031 exchangers hold a fractional interest in real estate that qualifies as like-kind replacement property. The Trust filed its first Form D in July 2022 and is now closed to new investors.
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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.
What exactly is the property?
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
Who is the tenant, and what's the lease?
This is an apartment community, so there is no single corporate tenant: income depends on hundreds of individual residential leases that turn over continually rather than one long-term contract. ROSS Companies' property page listed active one-, two-, and three-bedroom availability as of August 2026.4 No occupancy or rent-roll data for the Trust was located.
How did it end?
No sale or other ending on record
No full-cycle, sale, 721 UPREIT, foreclosure or partial-sale announcement has been published for LSC-Towson MD, DST; the underlying property (Versailles Apartments, 111 Versailles Circle, Towson, MD) acquired by an LSC affiliate in October 2022 for $62.8 million remains actively operated and leased (managed by ROSS Companies), and the offering is still listed as 'Active' on JRW's sponsor page.
Livingston Street Capital's multifamily brochure lists Versailles Apartments as a Towson multifamily transaction, and 2022 coverage reports LSC's acquisition of the 210-unit property for $62.8 million; the visited news sources do not expressly name the legal LSC-Towson MD, DST, so the offering/property match is based on the sponsor's Towson transaction evidence and the trust name.
210 units; one-, two-, and three-bedroom units ranging from 1,016 to 1,544 square feetSupporting evidence
How is it financed, and what does it pay?
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.
Who's behind it?
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
- Livingston Street Capital
- Legal Trust name
- LSC-Towson MD, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 0 active / 4 total offerings from Livingston Street Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
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.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 3
- 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.
Common questions
What happened to Versailles Apartments?
Top1031 lists Versailles Apartments as historical. It is no longer raising money.
Where does Top1031 get the data for Versailles Apartments?
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.
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.
Can I still invest in this Trust?
No. The offering is closed to new investors. Its last Form D amendment was filed November 9, 2023, and no later filing appears on the SEC record as of August 23, 2026.
What does Rule 506(b) mean for this offering?
Rule 506(b) is a private-placement exemption from SEC registration. The sponsor could not advertise the offering publicly or solicit strangers; it could sell only to investors it already had a relationship with, and the Form D reports all purchasers as accredited investors — people meeting SEC income or net-worth thresholds.
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 private placement memorandum, the confidential offering document that spells out the loan and its terms.
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.
Chapter 9This Week's Baltimore Deal SheetBisnow reported the $62.8 million sale of the 210-unit Versailles Apartments in Towson to Livingston Street Capital. Cadre Sells Towson's Versailles Apartments in $63M DealCommercial Observer reported that Livingston Street Capital acquired the 210-unit Versailles Apartments at 111 Versailles Circle in Towson for $62.8 million.