Fountainhead Apartments
Legal trust name 9821 Kansas City, DST
Talk to a 1031 specialistData updated Aug 21, 2025
Offering size$11.6M
Asset typeMultifamily
LocationKansas City, MO
FinancingNot disclosed
Regulation D exemptionRule 506(c)
Sponsor-reported potential 721/UPREIT exitNo
First filedFeb 10, 2025
Last filedAug 21, 2025
Minimum$187k
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.
Fountainhead Apartments is a 112-unit multifamily community at 9821 Wornall Road, Kansas City, Missouri, held through 9821 Kansas City, DST and sponsored by NAS Investment Solutions. Built in 1986 across four buildings on roughly 5.6 acres, it offers one- and two-bedroom residences with a clubhouse, fitness and business center, swimming pool, BBQ area, and a pond with fountain. The Delaware Statutory Trust structure supports 1031 exchange ownership. NAS Investment Solutions, founded by Karen E. Kennedy, outlined a value-add program upgrading all units, while affiliate National Asset Services handles asset and property management.
Sponsor NAS Investment Solutions; value-add; min $187k; $11.1M/$11.6M sold 8/25; proj eff return to 7.94% yr7
112 units (built 1986, 4 bldgs, 5.6 ac)Based on issuer-filed Form D notices through Aug 21, 2025. Amounts are self-reported, may lag current subscriptions, and do not confirm availability. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Reported sold as a percentage of stated offering amount96.0%
Capital sold, per latest Form D$11,104,882
Remaining amount reported in latest Form D$495,118
Investor count reported in latest Form D14
Stated minimum investment$187,077
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First filedFeb 10, 2025
Latest filingAug 21, 2025
Filings tracked3
View filing on SEC EDGARForm D is an issuer notice filing. A filing does not mean the SEC approved, endorsed, or verified the offering.
Offering profile
SEC filings + cited sources
The Property
Fountainhead Apartments occupies 9821 Wornall Road in Kansas City, Missouri, a 112-unit multifamily community on a 5.629-acre parcel with one- and two-bedroom residences, a clubhouse with fitness and business center, swimming pool, BBQ area, and pond with fountain 1. The community was built in 1986 across four buildings 2.
Sponsor and Management
NAS Investment Solutions, founded by Karen E. Kennedy, sponsors the trust, which holds the property as a Delaware Statutory Trust to facilitate 1031 exchange ownership 3. Effective May 30, 2025, affiliate National Asset Services assumed both asset management and property management responsibilities for the property, succeeding the prior operator 4.
Business Plan
The sponsor's value-add plan calls for upgrading all 112 units during years one through three—kitchen appliances, flooring, and bathroom finishes—alongside common-area amenity improvements 3. Sponsor materials from February 2025 stated acquisition financing carried a loan rate of 3.29% 2.
Offering
An issuer-filed Form D/A dated August 21, 2025 reported a total offering amount of $11,600,000 with $11,104,882 sold as of that filing 5.
In the news
Frequently asked questions
Is Fountainhead Apartments currently active?
Fountainhead Apartments is classified by Top1031 as active. “Active” reflects the latest public record and does not confirm that interests remain available.
Where does Top1031 get the data for Fountainhead Apartments?
Top1031 tracks this offering from SEC Form D filings and cited sponsor disclosures. Filing data may lag current subscriptions and does not mean the SEC approved or verified the offering.