The Courtyard Apartments
Multifamily property in Garland, TX · sponsored by NAS Investment Solutions
Active offeringLatest Form D filed Aug 6, 2025 (opens in a new tab)
The Courtyard Apartments is a DST sponsored by NAS Investment Solutions that owns a multifamily property in Garland, TX (123 units). Its latest Form D, filed Aug 6, 2025, lists a $19.5 million offering with a $171,052 minimum.
Key facts
- Minimum investment
- $171,052From the Form D
- Offering size
- $19,500,000Equity offered, per the Form D
- Sold so far
- Form D, Aug 6, 2025; the % is our arithmetic15.4%
- Investors reported
- Form D, Aug 6, 20254
- Selling commissions
- Form D Item 15; the % is our arithmetic$0 · 0.0% of offering
- 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
- Aug 6, 2025 · 1 filing
- First sale
- Jul 30, 2025
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $3,003,382
- Not yet sold
- $16,496,618
- Investors
- 4
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
15.4% of $19,500,000 sold, calculated by Top1031 from the Form D
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Ask a 1031 specialist about this recordFree. About: The Courtyard Apartments. Top1031 is not a broker-dealer.The Courtyard Apartments · Garland, TX · Photo: mmx.prnewswire.com
What does The Courtyard Apartments own?
NAS Investment Solutions announced its acquisition of this Garland apartment community on July 31, 2025, presenting it as a value-add deal and anticipating in-unit washers and dryers as an upgrade. 2 The Dallas Central Appraisal District lists the Trust as owner and gives August 1, 2025 as the deed-transfer date. 3 Its 2026 appraised market value is $16,732,310 — an appraisal, not a purchase price. 3 No purchase price appears in the public record.
- Property address
- 2046 N. Shiloh Road, Garland, TX
- Property size
- 123 units (484-971 SF, built 1983)
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
Leveraged means a mortgage sits ahead of investor equity: the lender's claim on the building and its rents ranks first. The debt was arranged at acquisition, so an exchanger is not sourcing financing inside the 45-day identification window. The sponsor's offering page describes a fixed-rate loan but names no lender, principal, or maturity. 5
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $0 · 0.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,440,000 · 7.3% of offeringForm D Item 16· The filing’s note: “An estimated $500,000 of this will go to an Affiliate for Bridge Financing”
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Jul 30, 2025
- Minimum investment
- $171,052
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 The Courtyard Apartments?
NAS Investment Solutions structures DST offerings for 1031 exchangers, and affiliate National Asset Services handles day-to-day management at this community. 1 A June 18, 2026 release said equity became available again after previously allocated investors did not fund their positions within the required timing, and that the acquired property was operating with in-place cash flow as projected. 1 On July 14, 2026 the sponsor announced the full-cycle sale of a Clorox-leased office property in Bentonville, Arkansas, stating that investors received a 41% effective rate of return.
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust's single Form D — the brief exempt-offering notice filed with the SEC after a first sale of securities — reports July 30, 2025 as that date, and no amendment has followed. 6 The exemption used permits general advertising but requires the sponsor to verify each buyer's accredited status — SEC income or net-worth thresholds — rather than accept self-certification.
- Legal Trust name
- 2046 Garland, DST
- SEC CIK
- 2078954
- First Form D
- Aug 6, 2025
- Latest Form D
- Aug 6, 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 | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $19,500,000 | $3,003,382 | 4 | 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 The Courtyard Apartments an active offering?
- The Courtyard Apartments is an Active offering: its latest Form D was filed Aug 6, 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?
- One property: The Courtyard Apartments, a 123-unit apartment community built in 1983 at 2046 N Shiloh Road in Garland, Texas, northeast of Dallas. NAS Investment Solutions announced the acquisition on July 31, 2025 and did not state a purchase price. The Dallas Central Appraisal District lists 2046 Garland DST as the 2026 owner of the parcel and gives August 1, 2025 as the deed-transfer date.
- What is known about the debt?
- The Trust is leveraged, meaning a mortgage sits ahead of investor equity. NAS Investment Solutions' offering page for the property advertises a fixed-interest loan at 4.97%. That material does not identify the lender, the loan principal, the loan-to-value ratio, or the maturity date, and none of those appear in the sources reviewed. Full debt terms sit in the offering documents and in the loan documents themselves.
- Who can invest, and what is the minimum?
- Only accredited investors, meaning buyers who meet SEC income or net-worth thresholds. The offering is made under Rule 506(c), which allows general advertising but requires the sponsor to verify each investor's accredited status rather than accept self-certification. The Form D filed August 6, 2025 reports a $19,500,000 total offering amount and a $171,052 minimum investment accepted from an outside investor; a sponsor's stated per-investor minimum can differ, and the offering documents govern.
- What is not in the public record for this Trust?
- A purchase price, the lender's name, the loan principal, loan-to-value, maturity, a current rent roll, a renovation budget, and any dated, independently verified occupancy figure. NAS Investment Solutions identified in-unit washers and dryers as an anticipated upgrade in its July 31, 2025 announcement; nothing reviewed shows that work completed. No Form D amendment has been filed since August 6, 2025, and no offering status after the June 18, 2026 release was established.
- Could this Trust convert into a REIT?
- The data on record shows no 721/UPREIT exit path — the structure in which a DST's property is later contributed to a REIT's operating partnership in exchange for partnership units. Investors here hold beneficial interests in the Delaware statutory trust that owns the Garland property, and the sponsor states a five-year target hold. Any exit mechanics, including a sale or an unplanned alternative, are governed by the trust agreement and the offering documents.
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.