Top1031

Fountainhead Apartments

Multifamily property in Kansas City, MO — sponsored by NAS Investment Solutions

Files with the SEC as 9821 Kansas City, DST

Minimum investment
$187k
Offering size
$11.6M
How much has sold
96.0%
Asset type
Multifamily property
Location
Kansas City, MO
Financing
Leveraged. This offering reports mortgage debt on the property.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

Fountainhead Apartments is a Kansas City, Missouri apartment community held through 9821 Kansas City, DST — a Delaware statutory trust that sells fractional beneficial interests to 1031 exchange buyers. NAS Investment Solutions announced the purchase on April 17, 2025 and described the community as a value-add prospect, naming neither price nor seller.1 Interests are offered under Rule 506(c), which permits public advertising to verified accredited investors.

Sponsor NAS Investment Solutions; value-add; min $187k; $11.1M/$11.6M sold 8/25; proj eff return to 7.94% yr7

Show sources (8)Hide sources (8)

These links support the public record as a whole; individual details may come from different sources.

City-level mapKansas City, MO metroCity-level location. Exact address not publicly confirmed.

On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.

Chapter 2

What exactly is the property?

Revitate Cherry Tree reported buying the same Fountainhead community for $14 million on December 23, 2021, naming no seller.2 NAS Investment Solutions announced its own acquisition on April 17, 2025, calling it a value-add prospect and stating neither price, closing date nor seller.1 Reviewed sources disagree on the construction year — the 2021 announcement says 1985 — so the year is unresolved.2

Property address
9821 Wornall Rd, Kansas City, MO
Property size
112 units (built 1986, 4 bldgs, 5.6 ac)
Chapter 3

Who is the tenant, and what's the lease?

There is no corporate tenant here: an apartment community earns income from many short residential leases rather than one long one. No rent roll, lease schedule or property-wide occupancy figure appears in the public record reviewed for this Trust; the Private Placement Memorandum, the offering's governing disclosure document, is where that detail sits.

Chapter 4

How are sales going?

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 Aug 21, 2025.

  • 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.
96.0% reported sold
Amount sold
$11,104,882
Still available
$495,118
Investors reported
14
Total offering
$11,600,000
Amount soldInvestors
Feb 10, 2025Aug 21, 2025
See how much of this offering has soldSign in by email and confirm you’re an accredited investor.
Chapter 5

How is it financed, and what does it pay?

The Trust carries acquisition debt. The Form D on record identifies the security as beneficial interests in a Delaware statutory trust and estimates that $400,000 of proceeds will go to an affiliate for bridge financing.3 Reviewed sponsor material names no lender, principal balance or maturity.4

Loan interest rate
3.29%nasinvestmentsolutions.com
Target hold
7nasinvestmentsolutions.com
Chapter 7

What does the paperwork say?

The first Form D was filed before any interests had been sold; an amendment eighteen days later raised the stated offering total and reset the stated minimum investment. The August amendment was the first to report sales and an investor count.

  1. First Form D filedThe public offering record begins.
  2. Offering amount recordedA Form D amendment recorded offering and sales totals.
  3. Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
Filings on record
3
How it may be offered
Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

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.

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.

Chapter 8

Common questions

Is Fountainhead Apartments still raising money?

Top1031 lists Fountainhead Apartments as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.

Where does Top1031 get the data for Fountainhead Apartments?

Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

Is this Trust still open to new investors?

The most recent filing on record is the Form D/A filed August 21, 2025, which reported equity still unsold. The availability module on this page shows the reported sold, remaining and investor figures. Form D amounts are issuer self-reports that change only when a new amendment is filed, so real-time availability can differ from what EDGAR shows. No later amendment was located as of August 31, 2026.

Who is the tenant?

There isn't one in the corporate sense. Fountainhead is a multifamily community, so income comes from many residential leases rather than a single tenant on a long-term lease. No source reviewed as of August 31, 2026 states a property-wide occupancy percentage, a rent roll or a lease schedule. The Private Placement Memorandum — the offering's governing disclosure document — is where occupancy and leasing detail must be read.

What does "value-add" mean for this Trust?

It means the business plan depends on renovation and future rents rather than income already locked in under a long lease. NAS Investment Solutions' April 17, 2025 announcement described the community as a value-add investment prospect. No source reviewed as of August 31, 2026 states a renovation budget, a scope schedule, how the work is funded, or any completed renovation results, so the Private Placement Memorandum and the sponsor's business plan are where that detail sits.

Who owned the property before this Trust?

Revitate Cherry Tree reported acquiring the same Fountainhead community at 9821 Wornall Road for $14 million on December 23, 2021, and did not identify the seller in that announcement. NAS Investment Solutions disclosed no purchase price, closing date or seller in its own April 17, 2025 acquisition release, so the terms of the 2025 transfer are not established in the public record. The Private Placement Memorandum and the closing file are where those terms are set out.

What do the public materials say about the debt?

Sponsor material states an interest rate, shown in the financing section of this page with its source. Beyond that, the reviewed materials do not state the lender, the loan principal, the maturity date, or the loan-to-value ratio. Separately, the Form D/A on record estimates that $400,000 of offering proceeds would be paid to an affiliate for bridge financing, within roughly $1.38 million of estimated payments to named related persons. The Private Placement Memorandum and the loan documents govern the actual terms.

Who manages the property day to day?

National Asset Services, an NAS affiliate, announced on May 30, 2025 that it had assumed both asset-management and property-management responsibilities for Fountainhead Apartments at 9821 Wornall Road. That places the sponsor and the operator inside one organization, so the Private Placement Memorandum is where the management agreement, its fees and its termination rights should be read.

Chapter 9

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