Top1031

NexPoint Hughes DST

Other property — sponsored by NexPoint

Minimum investment
$100k
Offering size
$115.3M
How much has sold
91.0%
Asset type
Other property
Location
Not stated
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?

NexPoint Hughes DST is a Delaware statutory trust formed in 2022 — a DST lets 1031 exchangers hold fractional real estate interests that qualify as like-kind replacement property.1 Its sponsor is NexPoint. The Form D filings classify it only as "Other Real Estate" and never name the building.2 NexPoint's own offering record now carries a Closed status tag.3

Show sources (6)Hide sources (6)

These links support the historical public record; individual details may come from different sources.

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?

The public filings do not identify this property. Form D asks only for an industry group, and the Trust's answer is the catch-all "Other Real Estate" — no address, square footage, or asset type appears anywhere in the SEC record.2 An April 24, 2023 amendment names NexPoint CR Vegas Investment Co, LLC as the contributor of the asset to the Trust, the closest the filings come to describing what was acquired.4

Chapter 3

How did it end?

What happened

No sale or other ending on record

No full-cycle, sale, foreclosure, or UPREIT conversion announcement located for NexPoint Hughes DST; NexPoint's website indicates only 3 of 35 DSTs are full-cycle as of 3/31/2026 and Hughes is not among them, the JRW Investments sponsor page lists the trust as 'Active', and SEC Form D/A filings show ongoing capital raises through at least May 15, 2024.

Supporting evidence
Chapter 5

What does the paperwork say?

The filing history is a long chain of Form D amendments — notices of an exempt offering — that update the amount sold and investor count rather than change terms. The Trust reported its first sale on March 30, 2022.6 Rule 506(c) permits public advertising so long as every buyer's accredited status is verified.

  1. First Form D filedThe public offering record begins.
  2. Offering amount recordedA Form D amendment recorded offering and sales totals.
  3. Filing record updatedA later amendment updated the sponsor’s filing record.
  4. Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
Filings on record
27
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 6

Common questions

What happened to NexPoint Hughes DST?

Top1031 lists NexPoint Hughes DST as historical. It is no longer raising money.

Where does Top1031 get the data for NexPoint Hughes DST?

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.

What property does NexPoint Hughes DST actually own?

The SEC record does not say. Form D requires only an industry group, and this Trust reports "Other Real Estate" — no address, tenant, square footage, or acquisition date appears in any of its 27 filings. Research as of August 19, 2026 found no primary public record tying a specific building to CIK 0001920957. The private placement memorandum is the only place that information exists.

Is this Trust still accepting investors?

NexPoint's own website record for this offering carries a Closed status tag, on a page last modified March 23, 2026. The most recent Form D/A on EDGAR was filed May 15, 2024 and still showed capital remaining; no later amendment or termination notice has been filed. Anyone mid-exchange should confirm current availability directly with the sponsor before identifying it.

How large is the offering and what is the minimum?

The May 15, 2024 Form D/A reports a total offering amount of $115,262,632 with a $100,000 minimum investment. Those figures come from the issuer's own filing with the SEC and reflect the offering as of that date.

Is the Trust leveraged, and what are the distributions?

Neither is disclosed in the SEC record. Form D does not ask about mortgage debt, loan-to-value, lender identity, or distribution rates, and no other public filing supplies them for this Trust. Those terms live in the PPM.

Can investors roll into a REIT at the end?

The data on record shows no 721/UPREIT exit path for this Trust — that is the structure where a DST's property is later contributed to a REIT's operating partnership in exchange for units, converting a real estate interest into a securities interest. Absent that feature, an exit would typically be a sale of the property.

What does Rule 506(c) mean for this offering?

506(c) is the exemption that lets an issuer advertise a private placement publicly, in exchange for taking reasonable steps to verify that every purchaser is an accredited investor — meaning documentation such as tax returns or a letter from a CPA or attorney, not just a self-certification checkbox.