Saint Tropez
Multifamily property · sponsored by Megatel (MCI Exchange)
Saint Tropez was a DST sponsored by Megatel (MCI Exchange) that owned a multifamily property. Its last Form D was filed Mar 22, 2024.
How it ended
No outcome recorded · under 7 years
Last Form D filed Mar 22, 2024.
Key facts
- Minimum investment
- $47,500From the Form D
- Offering size
- $47,500,000Equity offered, per the Form D
- Sold
- 6.9%Form D, Mar 22, 2024; the % is our arithmetic
- Investors reported
- Form D, Mar 22, 202410
- Selling commissions
- Form D Item 15; the % is our arithmetic$4,750,000 · 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(b)General advertising and solicitation are not permitted under this exemption.
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 →
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Ask a 1031 specialist about this recordFree. About: Saint Tropez. Top1031 is not a broker-dealer.Saint Tropez · Photo: dlqxt4mfnxo6k.cloudfront.net
What did Saint Tropez own?
The Form D names only the Trust; it identifies no parcel, address, or building. 1 Megatel broke ground on June 15, 2022 on a Saint Tropez residential community of more than 1,000 acres east of Lake Houston, planned for 4,500 single-family lots plus multifamily units. 2 The public record does not establish that this Trust owns that community, so the asset behind the Offering remains undisclosed.
How was it financed, and what did it cost to sell?
The public filing says nothing about a mortgage, a lender, or whether the Trust uses debt at all. 1 Whether an investor would be buying into an all-cash or a leveraged structure is set out only in the offering 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
- $4,750,000 · 10.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 8 named in the Form D
Show the firms
- 1031 Securities Inc. · CRD 326590
- Arkadios Capital · CRD 282710
- Capulent LLC · CRD 155155
- Great Point Capital LLC · CRD 114203
- International Assets Advisory, LLC · CRD 10645
- Investment Security Corporation · CRD 47536
- Lightpath Capital, Inc. · CRD 34617
- Primus Financial Services, LLC · CRD 307060
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Mar 11, 2024
- Minimum investment
- $47,500
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 Saint Tropez?
Megatel (MCI Exchange) is the 1031 arm of Dallas-based homebuilder Megatel Homes, which announced its move into DST private placements in June 2019 alongside a "Rent Back" program aimed at stabilized multifamily. The Form D names MCI DST-Sponsor LLC as promoter and MCI Exchange Saint Tropez A Series ST LLC as signatory trustee, with Armin Afzalipour and Arash Afzalipour listed as co-presidents. 1
- Sponsor
- Offerings on record
What does the SEC record show?
A single Form D covers this Offering; the issuer reported a first sale on March 11, 2024 and stated the raise was not intended to last more than one year. 1 Rule 506(b) means it may be sold privately to accredited investors — those meeting SEC income or net-worth tests — without public advertising.
- Legal Trust name
- MCI Exchange Saint Tropez A Series, DST
- SEC CIK
- 2012979
- First Form D
- Mar 22, 2024
- Latest Form D
- Mar 22, 2024
- Filings on record
- 1
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $47,500,000 | $3,284,510 | 10 | 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
- What happened to Saint Tropez?
- Saint Tropez is a Historical offering. Last Form D filed Mar 22, 2024.
- What property does this Trust actually own?
- The public record does not say. The March 22, 2024 Form D identifies the issuer as MCI Exchange Saint Tropez A Series, DST and gives a Dallas principal office, but names no parcel, address, or building. Megatel operates a Saint Tropez new-home community at 31220 Casanova Drive in Huffman, Texas, and its own community page shows homes selling there, but neither that page nor the SEC filing states that the Trust owns it. Treat the property identification as unresolved until the offering documents confirm it.
- What is the minimum investment?
- The Form D filed March 22, 2024 reported a minimum outside-investor commitment of $47,500. Minimums stated in a Form D are as of the filing date and can differ from what the offering documents set for a later closing.
- How much debt is on the Trust?
- Unknown from public sources. The Form D discloses no mortgage, lender, loan-to-value, or capitalization detail, and Top1031's leverage field for this Trust is unknown. Debt terms, any lender, and whether distributions are projected at all would be disclosed only in the offering documents.
- Can this Trust convert into a REIT interest later?
- Top1031's data records no 721/UPREIT exit feature for this Trust — that is the structure where a DST interest is later exchanged for operating-partnership units in a REIT. Any exit path, including a sale of the property, would be described in the offering documents; no exit or completed outcome has been reported for this Trust.
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.