AnaCapri
Multifamily property in Anna, TX — sponsored by Megatel (MCI Exchange)
Files with the SEC as MCI Exchange AnaCapri A Series, DST
Minimum investment
$23k
Offering size
$23.0M
How much has sold
90.0%
Asset type
Multifamily property
Location
Anna, TX
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
MCI Exchange AnaCapri A Series, DST is a Delaware Statutory Trust — a passive co-ownership vehicle whose interests can be used in a 1031 exchange — sponsored by Megatel (MCI Exchange). It is tied to AnaCapri, Megatel Homes' lagoon-anchored master-planned community in Anna, Texas, north of Dallas. The Form D on file reports a $23,000,000 offering and was last amended February 22, 2024.2
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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?
AnaCapri is Megatel Homes' lagoon-anchored master-planned community in Anna, in Collin County north of Dallas. A groundbreaking for the 2.3-acre lagoon was held April 2, 2024, within a plan described as more than 1,000 homes and 600 multifamily units.3 By mid-April 2024, more than 100 residents had moved in.6 Public records do not identify which parcel or building the Trust itself owns, or its unit count.
- Reported location
- Anna, TX
Who is the tenant, and what's the lease?
No SEC filing or news report located identifies a tenant, operator, or lease for the Trust's asset. A Form D is a short notice of a private offering and does not describe the property or any lease terms.
How did it end?
No sale or other ending on record
No public exit announcement found; the AnaCapri A Series DST completed its Form D raise on Feb 22, 2024, with SEC EDGAR showing only the original Form D plus two Form D/A amendments reporting additional securities sold (not exit events), and the underlying AnaCapri master-planned community in Anna, TX (2,000 homes + 600 apartments around a lagoon) remains in active development per Megatel's 2025 drone updates (source: SEC EDGAR CIK 1991717; connectcre.com Apr 2024; megatelhomes.com AnaCapri page).
AnaCapri is a Megatel Homes master-planned community in Anna, TX (Collin County) centered on a large lagoon amenity. Form D reported ~$20.6M raised on Feb 22, 2024. Specific unit count and bed/sqft for the DST's selected asset are not publicly disclosed.
Supporting evidence
How is it financed, and what does it pay?
Whether this Trust carries mortgage debt is not established by any public record. The Form D filings report only the equity being raised; no lender, loan amount, or loan terms appear in the SEC file.
Who's behind it?
Megatel Capital Investment, the investment affiliate of Dallas-based homebuilder Megatel Homes, launched its 1031 DST private-placement platform in June 2019, pairing it with a "Rent Back" program aimed at acquiring stabilized multifamily programs.4 It added a regional vice president and two associate vice presidents to that sales effort in August 2019.5 The Trust's Form D names Armin Afzalipour and Arash Afzalipour, co-presidents of the issuer's parent, as its executive officers and directors.2
- Sponsor
- Megatel (MCI Exchange)
- Legal Trust name
- MCI Exchange AnaCapri A Series, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 6 total offerings from Megatel (MCI Exchange)
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
Megatel filed an initial Form D for the Trust and then amended it twice as the raise progressed, each amendment updating the sold and remaining figures. The final amendment on record reported the first sale as October 2, 2023, and a $23,000 minimum investment from an outside investor.2
- 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 AnaCapri?
Top1031 lists AnaCapri as historical. It is no longer raising money.
Where does Top1031 get the data for AnaCapri?
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 this Trust actually own?
The public record links MCI Exchange AnaCapri A Series, DST to AnaCapri, Megatel Homes' master-planned lagoon community in Anna, Texas, and classifies the asset as multifamily. No SEC filing or municipal record located identifies the specific parcel, address, phase, or unit count the Trust holds, and there is no public evidence that the Trust owns the whole community. A Form D does not describe real estate, so those details would sit in the private placement memorandum (PPM) — the sponsor's full offering document.
Is the Offering still open?
The record here shows the Trust in raising status, with a $23,000,000 offering amount and no Form D filed after the February 22, 2024 amendment. Because Form D amendments are filed at the issuer's discretion, a gap in filings is not proof either way; current availability has to be confirmed with the sponsor or the selling broker-dealer.
Who is Megatel (MCI Exchange)?
Megatel Capital Investment (MCI) is the investment affiliate of Megatel Homes, a Dallas-based homebuilder. It announced its move into Section 1031 Delaware Statutory Trust private placements in June 2019, tied to a "Rent Back" program focused on acquiring stabilized multifamily programs. The sponsor rows on this page show how many offerings from Megatel (MCI Exchange) are tracked in this directory.
How much debt does the Trust use?
Not disclosed in any source reviewed. Leverage is recorded as unknown here because the Form D filings cover only the equity raise and no mortgage, lender, or loan-to-value figure appears in the SEC file or in local records. An investor would need the PPM to see the capital structure.
What does Rule 506(b) mean for who can invest?
Rule 506(b) is the private-placement exemption that lets an issuer sell without registering with the SEC and without general advertising or public solicitation, generally to accredited investors — people who meet income or net-worth tests set by the SEC. Interests are typically offered through a broker-dealer to investors with a pre-existing relationship. The Form D reported a $23,000 minimum investment accepted from an outside investor.
Can this Trust convert into a REIT through a 721/UPREIT exit?
The record for this Trust shows no REIT conversion feature. A 721/UPREIT exit is a structure where a DST's property is contributed to a REIT's operating partnership in exchange for partnership units, deferring tax but ending the ability to do a future 1031 exchange on that asset. Where that feature is absent, an eventual sale is the expected path — but the PPM governs.
Chapter 9Construction Begins On $1 Billion Lagoon Community In Anna, TexasLocal Profile reports Megatel Homes broke ground on AnaCapri in early April 2024, with over 100 residents already moved in and plans to add ~400 more homes by year-end as part of phase two. Megatel begins work on lagoon-anchored AnaCapri projectMegatel Homes LLC began construction on the $1 billion AnaCapri residential community centered on a large lagoon in Anna, TX — the underlying community backing the MCI Exchange AnaCapri A Series DST. Groundbreaking Anacapri Lagoon in Anna, Collin CountyCity of Anna press release describing Megatel Homes' April 2, 2024 groundbreaking ceremony for the $800M+ AnaCapri lagoon community with over 1,000 homes and 600 multifamily units. Lagoon-anchored 1,800-home development approved in AnnaDallas Business Journal reports the Anna City Council approved Megatel Homes' 1,800-home AnaCapri lagoon-anchored master-planned community — the underlying property for the AnaCapri A Series DST. Anna home development to be lagoon-anchored communityWFAA coverage of the City of Anna approving Megatel Homes' 1,800-home AnaCapri lagoon-anchored community development.