Bellagio
Single-family residential property in Forney, TX · sponsored by Megatel (MCI Exchange)
Active offeringLatest Form D filed Jun 5, 2026 (opens in a new tab)
Bellagio is a DST sponsored by Megatel (MCI Exchange) that owns a single-family residential property in Forney, TX. Its latest Form D, filed Jun 5, 2026, lists a $48.4 million offering with a $48,435 minimum.
Key facts
- Minimum investment
- $48,435From the Form D
- Offering size
- $48,435,000Equity offered, per the Form D
- Sold so far
- Form D, Jun 5, 2026; the % is our arithmetic8.8%
- Investors reported
- Form D, Jun 5, 20268
- Selling commissions
- Form D Item 15; the % is our arithmetic$4,843,500 · 10.0% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Sales so far
- Latest Form D
- Jun 5, 2026 · 1 filing
- First sale
- May 29, 2026
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $4,299,713
- Not yet sold
- $44,135,287
- Investors
- 8
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
8.8% of $48,435,000 sold, calculated by Top1031 from the Form D
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Ask a 1031 specialist about this recordFree. About: Bellagio. Top1031 is not a broker-dealer.No photo on record.
What does Bellagio own?
What the Trust holds is unresolved in the public record: its Form D names no parcel, deed, or purchase price, and the specific home parcels are not publicly disclosed. Top1031's data associates the Trust with build-to-rent homes in Megatel Homes' Bellagio community in Forney, Texas, where the builder published a development update on September 5, 2025 and a listing site introduced the community on May 22, 2026. No acquisition record ties specific homes to the Trust.
- Property address
- 1008 Joseph Court (community sales office; specific DST home parcels not publicly disclosed), Forney, TX
- Property size
- Homes 1,787-3,456 SF, 3-6 bd; community is an $800M+ lagoon development
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
No mortgage, lender, or loan terms for the Trust appear in the public record, and that silence is not evidence the Trust is unlevered. Whether an exchanger can replace debt carried on a relinquished property is answered only by the offering documents and the underlying loan documents.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $4,843,500 · 10.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16· The filing’s note: “Any expenses for the organization and offering of the interests will be paid by the Sponsor or an affiliate of the Trust.”
- Broker-dealers named in the Form D
- 4 named in the Form D
Show the firms
- 1031 Securities Inc. · CRD 326590
- Capulent LLC · CRD 155155
- International Assets Advisory, LLC · CRD 10645
- Investment Security Corporation · CRD 47536
Individual representatives named in Item 12 are not listed.
- Date of first sale
- May 29, 2026
- Minimum investment
- $48,435
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together.
Who's behind Bellagio?
The Form D names MCI DST-Sponsor, LLC as the Trust's sponsor. 2 The filing carries a Dallas, Texas principal address, and Megatel Capital Investment lists Armin Afzalipour and Arash Afzalipour as co-presidents. The Megatel branding an investor encounters in community and marketing material comes from the homebuilder side of the business; the SEC notice itself names only the MCI entities.
- Sponsor
- Offerings on record
What does the SEC record show?
A Form D is an issuer's own notice of an exempt offering, not an SEC review or approval of it. The issuer reported its first sale on May 29, 2026, and every figure on this page traces back to that single notice. 1
- Legal Trust name
- MCI Exchange Bellagio A Series DST
- SEC CIK
- 2138398
- First Form D
- Jun 5, 2026
- Latest Form D
- Jun 5, 2026
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $48,435,000 | $4,299,713 | 8 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- Is Bellagio an active offering?
- Bellagio is an Active offering: its latest Form D was filed Jun 5, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- What does this Trust actually own?
- The public record does not say. The Form D filed June 5, 2026 describes only the securities offered — beneficial interests in a Delaware statutory trust — and names no parcel, deed, purchase price, or property schedule. Top1031's data associates the Trust with build-to-rent single-family homes in Megatel Homes' Bellagio community in Forney, Texas, but the specific home parcels are not publicly disclosed and no acquisition record confirms which homes, if any, the Trust holds. The offering documents and their property schedule are where that question gets settled.
- What is the minimum investment?
- The Form D filed June 5, 2026 reports a $48,435 minimum investment accepted from an outside investor. Offering documents can set a different minimum for exchange investors than for cash investors, so the offering documents control.
- Is the Trust leveraged?
- Unknown from public sources. The Form D discloses no mortgage, lender, loan-to-value, or maturity, and no separate financing record for the Trust was located. Absence of disclosure is not evidence the Trust is debt-free. If you need to replace debt from a relinquished property, the offering documents and the loan documents are the only reliable answer.
- Is a 721/UPREIT exit contemplated?
- Nothing in the record indicates one. A 721/UPREIT exit is where a DST's property is contributed to a real estate investment trust in exchange for operating-partnership units; Top1031's data records no such conversion feature here. Confirm the stated exit strategy in the offering documents.
In the news
Sources
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These links support the record as a whole; individual details may come from different sources.
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 offering documents before investing.