Madison Waterstar
Legal trust name Madison Waterstar Orlando DST
Talk to a 1031 specialistData updated Aug 13, 2025
Offering size$106.8M
Asset typeMultifamily
LocationKissimmee, FL
FinancingAll cash
Regulation D exemptionRule 506(c)
Sponsor-reported potential 721/UPREIT exitNo
First filedAug 13, 2025
Last filedAug 13, 2025
Minimum$25k
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.
Madison Waterstar Orlando DST is a Delaware statutory trust sponsored by Madison Capital Group that holds a 320-unit luxury multifamily community at 14535 Star Water Rd in Kissimmee, Florida. Spanning roughly 310,624 rentable square feet, the property sits off SR-429 near the I-4 interchange, across from the Sunset Walk retail center and within reach of Walt Disney World. Madison Capital Group developed the asset after acquiring the roughly 10-acre site in January 2021 as its first Orlando-area project. The trust is capitalized on an all-cash, debt-free basis, with a total equity offering of about $106.75 million reported in an August 13, 2025 issuer filing.
All-cash 0% LTV; $100k min; $106.75M offering; built 2023; 100% master-leased; ~25% funded; on iCapital 3/2026
320 units / ~310,624 NRSFBased on issuer-filed Form D notices through Aug 13, 2025. Amounts are self-reported, may lag current subscriptions, and do not confirm availability. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Reported sold as a percentage of stated offering amount2.0%
Capital sold, per latest Form D$1,712,283
Remaining amount reported in latest Form D$105,039,154
Investor count reported in latest Form D4
Stated minimum investment$25,000
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First filedAug 13, 2025
Latest filingAug 13, 2025
Filings tracked2
View filing on SEC EDGARForm D is an issuer notice filing. A filing does not mean the SEC approved, endorsed, or verified the offering.
Offering profile
SEC filings + cited sources
Property
The trust's asset is Madison Waterstar, a 320-unit luxury multifamily community totaling about 310,624 net rentable square feet at 14535 Star Water Rd in Kissimmee, Florida 1. It sits off SR-429 (Orlando's Western Beltway) near the I-4 interchange, across from the Sunset Walk retail center and within reach of Walt Disney World, in the Kissimmee submarket 2. Madison Capital Group acquired the roughly 10-acre US-192 site on January 20, 2021 and developed the four-story community with a clubhouse and amenity package as its first Orlando-area project 3.
Sponsor
Madison Capital Group operates under Madison Capital Group Holdings, founded in 2009 by CEO Ryan Hanks, with Ken Carpenter as President and CIO. The vertically integrated firm spans Madison Communities (multifamily development and management), Go Store It self-storage (~206 facilities), Madison Marinas, Madison Commercial, and Benco Construction 4.
Capitalization
The offering is structured on an all-cash, debt-free basis at the trust level, pairing a $93,440,000 purchase price and $4,250,000 in reserves with a total equity raise of $106,751,437 under Rule 506(c) 5. An issuer-filed Form D/A dated August 13, 2025 reported the same $106,751,437 total offering amount 6.
In the news
Frequently asked questions
Is Madison Waterstar currently active?
Madison Waterstar is classified by Top1031 as active. “Active” reflects the latest public record and does not confirm that interests remain available.
Where does Top1031 get the data for Madison Waterstar?
Top1031 tracks this offering from SEC Form D filings and cited sponsor disclosures. Filing data may lag current subscriptions and does not mean the SEC approved or verified the offering.