Madison Farms
Multifamily property in Charlotte, NC — sponsored by Madison Capital Group
Files with the SEC as Madison Farms DST
Minimum investment
$25k
Offering size
$80.3M
How much has sold
75.0%
Asset type
Multifamily property
Location
Charlotte, NC
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Madison Farms DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold fractional title to real estate through a single passive vehicle.1 It was formed around Madison Farms, an apartment and townhome community in north Charlotte, North Carolina, developed by sponsor Madison Capital Group.2 The Offering is made under Rule 506(c), which permits public advertising to buyers whose accredited status is verified.
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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?
Madison Farms sits off Highway 29 just north of I-485 in north Charlotte, at 12525 Oldehurst Place.3 Madison Capital Group said in January 2021 that construction had begun on the apartment and townhome community, units averaging about 900 square feet, with residents expected to move in by 2022.2 Charlotte Business Journal reported in October 2020 that Ryan Hanks pegged the project cost near $41 million — an estimate, not a filed figure.5
- Reported location
- Charlotte, NC
- Property size
- 240 units
Who is the tenant, and what's the lease?
There is no single corporate tenant here: income comes from residents on short apartment leases, which the property's own FAQ page describes as running 3 to 15 months.4 Rents therefore reset frequently rather than being fixed by one long-term lease, and no property manager or operator is named in the public record.
How did it end?
No ending on record
No public full-cycle press release, AltsWire article, or property-sale news could be located for Madison Farms DST; JRW shows Madison Capital with 0 full cycles among 14 offerings, consistent with no public disposition.
$80,297,330 total offering amount; sponsor Madison Realty Companies (Nashua NH); Madison Capital Group developer; ground broken Jan 2021; residents moved in by 2022
240 unitsSupporting evidence
How is it financed, and what does it pay?
Neither the Form D filings nor the public sponsor materials disclose whether the Trust carries mortgage debt or, if it does, the lender and loan terms; that information would sit in the private placement memorandum, the offering document delivered to accredited investors.
Who's behind it?
Madison Capital Group developed Madison Farms itself and announced the groundbreaking in January 2021.2 Charlotte Business Journal identified the firm as a Charlotte company in its October 2020 report on the project.5 The July 5, 2023 Form D amendment names Ryan L. Hanks and Joe F. Teague as executive officers and promoters.1 On May 20, 2024, The White Law Group published a page saying it was investigating potential securities claims involving Madison Farms DST; no primary record establishing wrongdoing was located.6
- Sponsor
- Madison Capital Group
- Legal Trust name
- Madison Farms DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 6 active / 12 total offerings from Madison Capital Group
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust filed an original Form D — the SEC's brief notice of an exempt offering — and then amended it twice, with the latest amendment the first to report investor subscriptions; that amendment gives the first sale date as November 1, 2022.1 Rule 506(c) permits general solicitation so long as each investor's accredited status is verified.
- 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(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- 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 Madison Farms?
Top1031 lists Madison Farms as historical. It is no longer raising money.
Where does Top1031 get the data for Madison Farms?
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 does Madison Farms DST actually own?
The Trust was formed around Madison Farms, a 240-unit apartment and townhome community in north Charlotte, North Carolina, at 12525 Oldehurst Place. Madison Capital Group developed the property and said in January 2021 that construction had begun, with units averaging about 900 square feet. The SEC offering filings themselves do not name the property or its address.
Is the Offering still open?
The most recent filing on record is a Form D amendment dated July 5, 2023, and no later issuer filing has appeared since. A Form D reports subscriptions as of the filing date, not in real time, so current availability has to be confirmed with the sponsor or the placement agent.
Who are the tenants?
This is a multifamily property, so there is no single corporate tenant. Income comes from individual residents; the property's FAQ page states that lease terms run from 3 to 15 months depending on availability and daily pricing. That means the rent roll turns over regularly rather than being locked in by one long-term lease.
Does the Trust have debt?
The public record does not say. The Form D filings do not report loan terms, loan-to-value, or a lender, and no sponsor material located discloses property-level debt. Leverage, if any, and the identity of the lender would be described in the private placement memorandum.
Can this Trust convert into a REIT?
The data on record shows no 721/UPREIT exit path — that is, no stated plan to contribute the property into a REIT's operating partnership in exchange for partnership units. Investors should treat the PPM as the controlling description of any exit mechanics.
What is the White Law Group investigation about?
On May 20, 2024, The White Law Group, a law firm that solicits investor claims, published a page stating it was investigating potential securities claims involving Madison Farms DST. That page is a solicitation and a lead, not a regulatory action or a finding of wrongdoing; no underlying primary record establishing misconduct was located.
Chapter 9Madison Farms DST: Securities InvestigationInvestigation of potential securities claims involving Madison Farms DST, which filed Form D on Sep 28, 2022 to raise $80,297,330. Madison Capital Group breaks ground on Charlotte CommunitySponsor news release confirming construction of Madison Farms, a 240-unit luxury apartment community with average 900 sq ft units. Madison Capital Group breaks ground on Charlotte CommunityMadison Capital Group announces construction of Madison Farms, a 240-unit luxury apartment community off Highway 29 just north of I-485 in Charlotte.