Enclave of Bahamas
Residential property in Royse City, TX · sponsored by Megatel (MCI Exchange)
Active offeringLatest Form D filed Aug 8, 2025 (opens in a new tab)
Enclave of Bahamas is a DST sponsored by Megatel (MCI Exchange) that owns a residential property in Royse City, TX (253.886 acres). Its latest Form D, filed Aug 8, 2025, lists a $57.7 million offering with a $57,710 minimum.
Key facts
- Minimum investment
- $57,710From the Form D
- Offering size
- $57,710,000Equity offered, per the Form D
- Sold so far
- None reported as of Aug 8, 2025Form D, Aug 8, 2025
- Selling commissions
- Form D Item 15; the % is our arithmetic$5,710,000 · 9.8% of offering
- Financing
- All cash. This offering reports no 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
- Aug 8, 2025 · 1 filing
No sales reported in a Form D amendment yet. Latest notice Aug 8, 2025.
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Ask a 1031 specialist about this recordFree. About: Enclave of Bahamas. Top1031 is not a broker-dealer.No photo on record.
What does Enclave of Bahamas own?
The sponsor brochure describes the holding as land inside the Bahamas and Enclave of Bahamas Laguna Azure master-planned communities in Royse City and Caddo Mills, Texas. 2 It is presented as land identified for development as future residential phases of those communities, not as an operating property with buildings or a rent roll. 2 No acquisition closing, recorded deed, or transfer of title into the Trust appears in the records reviewed.
- Property address
- Crenshaw Rd (Bahamas community; exact DST parcel addresses not public), Royse City, TX
- Property size
- 253.886 acres (six parcels)
How is it financed, and what did it cost to sell?
The sponsor brochure presents the equity amount as an all-cash capitalization and states no debt, mortgage, loan, or lender. 2 The Form D does not address leverage at all. 1 Nothing in the reviewed record identifies a lender or a loan amount.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $5,710,000 · 9.8% 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
- 1 named in the Form D
Show the firms
- International Assets Advisory, LLC · CRD 10645
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $57,710
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 Enclave of Bahamas?
The Form D names MCI DST-Sponsor LLC as the Trust's sponsor and as sole member and manager of the signatory trustee. 1 Behind it sits Megatel Capital Investment, the Dallas-based investment arm of the Megatel homebuilding group, whose lagoon-anchored master-planned communities are the model for this land. Megatel announced a $2 billion, 1,800-home lagoon-anchored community in the Houston area in June 2022, and the close-out of a single-family community near Dallas in September 2022.
- Sponsor
- Offerings on record
What does the SEC record show?
The SEC record is limited to a new-notice Form D marked "first sale yet to occur," with no later amendment located in the reviewed filings. 1 It uses the exemption that permits general advertising while limiting buyers to accredited investors — those meeting the SEC's income or net-worth tests — whose status the sponsor must verify.
- Legal Trust name
- MCI Exchange Enclave of Bahamas/Bahamas B Series, DST
- SEC CIK
- 2080662
- First Form D
- Aug 8, 2025
- Latest Form D
- Aug 8, 2025
- 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 | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $57,710,000 | $0 | 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 Enclave of Bahamas an active offering?
- Enclave of Bahamas is an Active offering: its latest Form D was filed Aug 8, 2025. 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?
- According to the sponsor brochure, land in the Bahamas and Enclave of Bahamas Laguna Azure master-planned communities in Royse City and Caddo Mills, Texas, identified for development as future residential phases. The brochure presents it as land rather than an operating property, so there is no building, no occupancy and no rent roll to examine. No acquisition closing date, recorded deed, or transfer of title into the Trust was located in the records reviewed. The brochure itself carries no publication date.
- Who pays the Trust, and what does the lease look like?
- The reviewed materials do not name the tenant. The brochure describes a ground lease over the land with an initial three-year term and seven optional one-year extensions, together with a separate option-to-purchase contract held by that ground tenant, meaning the tenant may — but is not obligated to — buy the land from the Trust. When the lease commenced was not established. The tenant's identity, financial capacity and the option mechanics are matters for the offering documents.
- Is the Trust leveraged?
- No debt is stated anywhere in the reviewed record. The sponsor brochure presents the equity amount as an all-cash capitalization and names no mortgage, loan or lender, and the SEC Form D does not address leverage. The offering documents and trust agreement are where to confirm whether any debt exists or could later be placed on the land.
- Who can invest, and what is the stated minimum?
- The offering is made under Rule 506(c), which permits general advertising but limits purchasers to accredited investors whose status the sponsor must verify.
- Is this Trust still being marketed?
- The only SEC filing on record is the August 8, 2025 Form D, filed as a new notice marked "first sale yet to occur" and not amended as of research conducted October 3, 2026. An undated sponsor brochure circulates through third-party DST marketing sites, and BlueVault Partners displayed a listing page for this exact offering dated April 23, 2026, indicating marketing continued after the filing. Those are secondary signals, not an issuer confirmation of current sales status.
- Can this convert into a REIT interest later?
- No 721/UPREIT exit — the route where DST investors contribute their property to a REIT's operating partnership in exchange for REIT units — is indicated for this Trust. The brochure instead describes an option under which the ground tenant may purchase the land from the Trust, and that tenant is not obligated to exercise it.
In the news
Sources
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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.