Madison Ridge
Multifamily property in Indian Land, SC — sponsored by Madison Capital Group
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
Madison Ridge DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold fractional interests in real estate — that owns a Class A garden-style apartment community in Indian Land, South Carolina, in the Charlotte metro. Madison Capital Markets launched the debt-free offering in March 2024 and reported it fully subscribed in August 2025.3
Minimum investment
$50k
Offering size
$77.7M
How much has sold
31.0%
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited 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 Communities, a sister company of the sponsor's capital-markets arm, developed Madison Ridge at 3506 Buster Lane in Indian Land, South Carolina, completing construction in 2023.1 The three-story, Class A garden-style community sits in Lancaster County, inside the Charlotte metro area near Ballantyne and Fort Mill. Amenities include a saltwater pool, fitness center, outdoor grilling pavilion, community lounge and walking paths.
- Reported location
- Indian Land, SC
- Property size
- 240 units (92 one-bedroom, 120 two-bedroom, 28 three-bedroom)
Who is the tenant, and what's the lease?
This is an apartment community, so there is no single corporate tenant: income comes from residents signing short leases, and the Trust absorbs turnover and vacancy directly. The property's leasing FAQ lists lease terms ranging from 3 to 15 months.2
How did it end?
Still operating
Still operating as of mid-2026; the $77.7 million raise was fully subscribed on August 18, 2025 for the 240-unit Class A Madison Ridge multifamily at 3506 Buster Lane, Indian Land, SC per AltsWire/Madison Capital Markets, with the property still actively listed for rent on livemadisonridge.com and a stated 7-10 year hold period per Stax Capital.
Madison Ridge is a 240-unit, 3-story, Class A garden-style multifamily property completed in Q4 2023 at 3506 Buster Lane, Indian Land, SC (Lancaster County, Charlotte MSA). The Madison Ridge DST launched in March 2024 seeking nearly $77.7 million with a $25,000 minimum investment. It was fully subscribed by August 18, 2025. Sponsor: Madison Capital Markets (affiliate of Madison Capital Group Holdings). Amenities include saltwater pool, fitness center, outdoor grilling pavilion, community lounge, and walking paths.
240 units (92 one-bedroom, 120 two-bedroom, 28 three-bedroom)Supporting evidence
Counted on Madison Capital Group’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
No mortgage encumbers the property, so there is no lender, no loan maturity to refinance and no foreclosure risk — but an investor who must replace debt from a relinquished property cannot satisfy that requirement through this Trust.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
Madison Capital Group is a real estate firm whose affiliates develop, own and syndicate multifamily communities; its Madison 1031 Exchange and Madison Capital Markets arms run the DST program, and affiliate Madison Communities developed this property.1 SEC filings give the Trust an issuer address on Carnegie Boulevard in Charlotte, North Carolina.6 Madison Capital Markets announced the completed raise on August 18, 2025.3
- Sponsor
- Madison Capital Group
- 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 initial Form D — the brief notice an issuer gives the SEC when selling securities without registering them — and later amended it once to report interim sales. Nothing further appears in the SEC record, so the filed figures predate the sponsor's fully subscribed announcement.4
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- Madison Ridge DST
- Filings on record
- 2
- 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 Ridge?
Madison Ridge is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Madison Ridge?
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.
Can I still invest in Madison Ridge DST?
No. AltsWire reported on August 18, 2025 that Madison Capital Markets had fully subscribed the roughly $77.7 million Madison Ridge DST offering, and Yield PRO reported on August 28, 2025 that the Delaware statutory trust offering was closed. A closed DST is no longer available to new 1031 exchange investors through the sponsor.
Why does the SEC record still show the offering as partly sold?
The Trust filed its first Form D on March 8, 2024 and one amendment on October 25, 2024. SEC company data for CIK 2014170 shows no filing after that amendment, so the last figures on file are from October 2024 — roughly ten months before the sponsor announced the raise was complete. Form D amendments are not required to be filed at the moment a raise finishes.
What exactly does the Trust own?
A single Class A garden-style apartment community called Madison Ridge, at 3506 Buster Lane in Indian Land, South Carolina, in Lancaster County within the Greater Charlotte metro. Yield PRO reported the property was built in 2023 and developed by Madison Communities, a sister company of Madison Capital Markets. The buildings are three stories, and the unit mix spans one-, two- and three-bedroom apartments.
What was the minimum investment?
The Form D filings report a $50,000 minimum outside investment. AltsWire's March 22, 2024 coverage of the launch described a $25,000 minimum. Minimums and any sponsor discretion to accept less are set in the private placement memorandum (PPM), the offering document delivered to accredited investors.
Is there a 721/UPREIT exit?
The record shows no REIT conversion feature. A 721/UPREIT exit is a structure in which a DST's property is later contributed to a REIT's operating partnership in exchange for units, converting the investor's real estate position into REIT units. Nothing in this Trust's filings or the sponsor's materials indicates that path here.
How occupied is the property today?
No occupancy figure and no named property operator were established by the available records. Redfin listed 20 units as available at Madison Ridge on August 29, 2026, which is an availability count rather than a measure of physical occupancy. No primary record of a sale, refinancing, default or litigation involving the Trust or the property was found.
Chapter 9Madison Capital Markets Completes Raise for DST Offering on Newly Built Charlotte-Area Apartment Community Madison RidgeYield PRO reports the Madison Ridge DST is fully subscribed, citing the 2023-built 240-unit luxury apartment community near Ballantyne and Fort Mill in Indian Land, SC. Madison Fully Subscribes $77.7 Million DST Offering in CharlotteAltsWire reports Madison Capital Markets fully subscribed the Madison Ridge DST, a ~$77.7M, 240-unit luxury apartment community in the Greater Charlotte metro at 3506 Buster Lane in Indian Land, S.C. Madison 1031 Exchange Launches Madison Ridge DST, a Debt-Free OfferingMadison 1031 Exchange, LLC, an affiliate of Madison Capital Group, launched Madison Ridge DST — a Regulation D, Rule 506(c) debt-free offering of a 2023-built Class A 240-unit multifamily community in the Charlotte Metropolitan Area, targeting approximately $77 million.