Top1031

Inspire ON 22ND, DST

in Austin, TX · sponsored by Nelson Brothers

HistoricalLast Form D filed Jun 25, 2021 (opens in a new tab)

Inspire ON 22ND, DST, sponsored by Nelson Brothers, filed its first Form D with the SEC on Jun 25, 2021 for a $41.8 million offering. Its last Form D was filed Jun 25, 2021.

How it ended

No outcome recorded · under 7 years

Last Form D filed Jun 25, 2021.

Key facts

Minimum investment
$0
From the Form D
Offering size
$41,886,885
Equity offered, per the Form D
Sold
9.0%
Form D, Jun 25, 2021; the % is our arithmetic
Investors reported
15
Form D, Jun 25, 2021
Selling commissions
$3,769,819 · 8.9% 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(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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Inspire ON 22ND, DST image

Inspire ON 22ND, DST · Austin, TX · Photo: hoar.com

What did Inspire ON 22ND, DST own?

Inspire on 22nd is a student housing high-rise at 2200 Nueces Street in Austin, Texas. 1 Hoar Construction, the general contractor, describes it as an 18-story building with 129 units near the University of Texas. 2 Multi-Housing News reported in July 2021 that the 2019-built property was then owned and managed by Capstone Communities. 3

Reported location
Austin, TX

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

Multi-Housing News reported on July 23, 2021 that Alliant Credit Union provided a $39.05 million loan on Inspire on 22nd, structured so the property could be bought through a Delaware Statutory Trust, and named Versity Investments as the borrower. 3

Debt

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

Costs and terms from the Form D

Selling commissions
$3,769,819 · 8.9% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$2,750,000 · 6.5% of offering
Form D Item 16
Broker-dealers named in the Form D
4 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jun 16, 2021
Minimum investment
$0

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 offering was made under Rule 506(b), a private placement exemption that bars general advertising and reaches investors the sponsor already knows. The Form D, the short notice an issuer sends the SEC after selling securities, reports a first sale on June 16, 2021. 4

Legal Trust name
INSPIRE ON 22ND, DST
SEC CIK
1869538
First Form D
Jun 25, 2021
Latest Form D
Jun 25, 2021
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D$41,886,885
$3,773,726
15
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 Inspire ON 22ND, DST?
Inspire ON 22ND, DST is a Historical offering. Last Form D filed Jun 25, 2021.
What does Inspire on 22nd, DST own?
It owns Inspire on 22nd, a student housing high-rise at 2200 Nueces Street in Austin, Texas. Hoar Construction, the general contractor, describes the building as 18 stories with 129 units near the University of Texas campus.
Who pays the rent at this property?
Students do, through many individual leases rather than a single corporate tenant. The property's own website advertised a 2026 to 2027 lease term running from August 19, 2026 to July 29, 2027, which follows the University of Texas academic year.
When was the building built, and who ran it before the Trust?
Multi-Housing News reported in July 2021 that Inspire on 22nd was built in 2019 and was at that time owned and managed by Capstone Communities.
Does the Trust carry a mortgage?
Yes, the Trust is leveraged. Multi-Housing News reported on July 23, 2021 that Alliant Credit Union provided a $39.05 million loan on the property, structured so it could be acquired through a Delaware Statutory Trust, with Versity Investments named as the borrower.
Who is the sponsor?
Nelson Brothers sponsors the Trust. The Form D filed on June 25, 2021 names Brian Nelson as a manager and signatory for the issuer and lists him as an executive officer and promoter.
How was the offering sold?
Under Rule 506(b), a private placement exemption that bars general advertising and limits the offering to accredited investors the sponsor already knows. An accredited investor meets SEC income or net worth tests. The Form D lists a first sale date of June 16, 2021.

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.