Top1031

Village Towers

Office property in Houston, TX · sponsored by Moody National

Active offeringLatest Form D filed Jan 12, 2026 · 5 filings since Dec 7, 2022 (opens in a new tab)

Village Towers is a DST sponsored by Moody National that owns an office property in Houston, TX. Its latest Form D, filed Jan 12, 2026, lists a $136.2 million offering with a $25,000 minimum.

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$136,250,000
Equity offered, per the Form D
Sold so far
42.4%
Form D, Jan 12, 2026; the % is our arithmetic
Investors reported
170
Form D, Jan 12, 2026
Selling commissions
$10,900,000 · 8.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
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
Jan 12, 2026 · 5 filings
First sale
Dec 22, 2022

These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.

How we work out how much has sold

We divide the amount the sponsor reports sold by the offering size in its latest SEC filing, filed Jan 12, 2026.

  • The sponsor reports these amounts itself, and can amend them later.
  • A filing can be behind what has actually sold. It does not confirm that interests are still available.
  • The amount left to sell is the offering size minus the amount sold.
Amount sold
$57,876,733
Not yet sold
$78,373,267
Investors
170

Calculated by Top1031 from the Form D filings, not stated by the sponsor:

42.4% of $136,250,000 sold, calculated by Top1031 from the Form D

Average since first sale
about $1.5 million a month
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Ask a 1031 specialist about this recordFree. About: Village Towers. Top1031 is not a broker-dealer.
Village Towers image

Village Towers · Houston, TX · Photo: arch-con.com

City-level mapHouston, TX metroMap shows the city, not the exact address.

What does Village Towers own?

Village Towers is a Class A office project with ground-floor retail, completed in 2019. The Trust bought it on November 29, 2022 from Moody National HQ, LLC and Moody National HQ II, LLC — sellers affiliated with the sponsor, making this a related-party purchase rather than an arm's-length one. 1 The Houston Chronicle reported on July 8, 2022 that new office leases had carried the project to 93% occupancy. 4

Property address
9655 Katy Fwy, Houston, TX
Property size
~350k SF (2 six-story towers)

Tenant and lease terms are not in the SEC filings or cited sources.

How have sales gone?

The sponsor’s own numbers, with the caveat in Sales so far ↑.

Share of the offering sold at each Form D filing date, calculated by Top1031 from the filed amounts
0%50%100%0%42.4%Dec 7, 2022Jan 12, 20260%50%100%0%42.4%Dec 7, 2022Jan 12, 2026

How is it financed, and what did it cost to sell?

The Trust owns the complex subject to a mortgage, so the lender's claim ranks ahead of investor equity. The sponsor's memorandum describes the acquisition loan as interest-only, meaning nothing amortizes and the full principal stands due at maturity. 1 The Trust also funds a capped tenant-improvement and leasing-commission allowance. 2

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$10,900,000 · 8.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$15,901,945 · 11.6% of offering
Form D Item 16
· The filing’s note: “Moody Village Towers Depositor, LLC will be responsible for paying certain fees and costs of approximately $15,401,945.”
Broker-dealers named in the Form D
18 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Dec 22, 2022
Minimum investment
$25,000

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. The issuer marked these amounts as an estimate.

What does the SEC record show?

The record opens with an original Form D — the brief SEC notice a private offering files instead of registering its securities — followed by amendments that each refreshed the equity placed to date while leaving the offering size unchanged. Each Form D states its figures as of its own filing date, not as a live balance.

Legal Trust name
Moody Village Towers DST
SEC CIK
1953979
First Form D
Dec 7, 2022
Latest Form D
Jan 12, 2026
Filings on record
5
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$136,250,000
$57,876,733+$18,013,848
170+51
EDGAR
Form D/A$136,250,000
$39,862,885+$23,426,089
119+64
EDGAR
Form D/A$136,250,000
$16,436,796+$11,620,559
55+44
EDGAR
Form D/A$136,250,000
$4,816,237+$4,816,237
11
EDGAR
Form D$136,250,000
$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 Village Towers an active offering?
Village Towers is an Active offering: its latest Form D was filed Jan 12, 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 property does the Trust own, and how full is it?
Village Towers, a Class A office complex with ground-floor retail on Katy Freeway in Houston, built in 2019. This listing records roughly 350,000 square feet across two six-story towers; a distributor's offering summary describes Tower I, Tower II and a plaza building on two contiguous parcels totaling approximately 325,557 rentable square feet and reports the project about 94% leased at acquisition. The same distributor, citing a December 2025 offering update, reports the towers and plaza 99.64% leased as of October 1, 2025 — a leased-space figure on that date, not verified current physical occupancy. The rent roll in the offering documents controls.
Who are the tenants, and what does the master lease mean for me?
This listing names Spur Energy, 2nd.MD, Prologis and Masraff's among occupants. A distributor's offering summary additionally names EnCap Investments, Innovation Specialists (2ND.MD), SEP Permian, Moody National Realty Company and Veritex Community Bank, and states that the Trust leased the project to an affiliated master tenant under a long-term master lease. In that structure, investor income arrives through a sponsor-related entity whose own performance matters, rather than directly from the building's tenants. The offering documents set out the actual lease terms.
Is there debt on the property, and what are its terms?
Yes. The sponsor's offering materials state equity of $136,250,000 and debt of $74,500,000, for a total acquisition basis of $210,750,000, and calculate that loan at approximately 37.27% of a $199,901,945 purchase-price measure that excludes operating reserves. The placement memorandum describes the loan as interest-only with a ten-year term and states a 5.09% rate after adjustment for a hedge agreement. Interest-only means nothing amortizes, so the full principal stands at maturity and must be repaid, refinanced or resolved through a sale. The loan documents summarized in the offering documents control.
What does it mean that the property was bought from sponsor affiliates?
The placement memorandum states the Trust acquired Village Towers on November 29, 2022 from Moody National HQ, LLC and Moody National HQ II, LLC, both affiliated sellers. In a related-party purchase, price and terms are not negotiated with an unrelated third party, and the sponsor's own materials use a $199,901,945 purchase-price measure for the project. The conflicts-of-interest and valuation sections of the offering documents are where the pricing, appraisals and affiliate roles are disclosed; read them against the independent appraisal work the offering documents describe.
There is a law firm page about this DST — what is it?
The White Law Group published a page dated May 16, 2025 titled "Moody Village Towers DST: Lawsuit Investigation," saying it was investigating broker-dealer sales practices related to the offering and citing an offering size of approximately $136.2 million. It names no complaint, case number, docket or regulatory order involving the Trust; it is an attorney solicitation page, not an adjudicated finding. The research run on October 4, 2026 established no primary-record evidence of a trust-specific default, foreclosure, lawsuit or completed sale of the property.

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.