The Outlook at Greystone
Multifamily property in Birmingham, AL — sponsored by NexPoint
Multifamily apartment community
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What is this, in one paragraph?
The Outlook at Greystone is a Delaware statutory trust (DST) — a structure that lets accredited investors, those meeting SEC income or net-worth tests, hold fractional interests in one property as 1031 replacement property. It holds a 300-unit apartment community in southeast Birmingham, Alabama, that NexPoint Outlook DST bought from Blackstone Real Estate on November 20, 2025.3 The Trust is raising now and carries mortgage debt.
Minimum investment
$100k
Offering size
$32.9M
How much has sold
33.0%
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The Outlook at Greystone is a garden-style apartment community of 300 units spread across 15 buildings in Shelby County, inside the Birmingham metro.2 NexPoint Outlook DST bought it from Blackstone Real Estate on November 20, 2025 for $54.4 million.3 NexPoint's launch release describes the community as Class A and located in southeast Birmingham.1
- Property address
- 7278 Cahaba Valley Rd, Birmingham
- Total funding
- $65,603,006Investor money plus any loan.
- Property acquisition cost
- $58,100,999
- Unit count
- Not statedOn the offering page.
- Third-party listing detail
- 1-3 BR units, 546-1,393 SF, built ~2007From third-party listings in the cited public record.
Who is the tenant, and what's the lease?
There is no single corporate tenant — income comes from residents on individual apartment leases that turn over continuously. Baker 1031's summary describes the Trust master-leasing the property to a NexPoint affiliate, which retains BH Management for daily operations, keeping the trust itself passive, and describes the property as stabilized and 94.7% leased.2
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.
33.0% reported sold
- Amount sold
- $10,738,336
- Reported unsold
- $22,164,670
- Investors reported
- 26
- Total offering
- $32,903,006
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How is it financed, and what does it pay?
Baker 1031's summary reports a single first-mortgage loan of $32,700,000 funding the purchase.2 Because the Trust carries mortgage debt, an exchange into it replaces both equity and a share of borrowing. Sponsor data in this record also notes the loan requires maintaining a minimum share of rent-restricted units — apartments leased at capped rents.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- Interest rate
- 4.67% fixed
- Loan term
- 120 months, interest-only for full term
- Leverage to investors
- 49.9%Leverage means borrowed money. This is the sponsor’s own figure.
- Reserves held by the lender
- $325,576
- Reserves the trust controls
- $4,100,000
- Loan-to-value
- 49.85%prnewswire.com
Who's behind it?
NexPoint is a Dallas-based alternative-investment platform whose 1031 arm places single properties into DSTs for exchange buyers; Baker 1031's summary names NexPoint Real Estate Advisors IV, L.P., a NexPoint affiliate, as this Trust's sponsor.2 NexPoint publicized the offering through a wire-distributed press release when it opened.1 No distress event, foreclosure, or litigation involving this Trust appeared in the sources reviewed.
- Sponsor
- NexPoint
- Property manager
- BH Management
- Offering launched
- Dec 15, 2025
- May convert to a REIT
- No
- Offerings from this sponsor
- 6 active / 17 total offerings from NexPoint
Note from the sponsorLoan requires maintaining a minimum percentage of rent-restricted units
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
A Form D is the SEC notice that a private placement has begun; the filings here report a first sale on January 26, 2026, and each later amendment restates the amount subscribed as investors come in.5 The offering relies on the private-placement exemption that permits general advertising, which obliges the sponsor to verify each buyer's accredited status.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- NexPoint Outlook DST
- Filings on record
- 6
- 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.
Common questions
Is The Outlook at Greystone still raising money?
Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.
Where does Top1031 get the data for The Outlook at Greystone?
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 1031 investors?
The most recent Form D amendment on this record was filed August 31, 2026, and it does not report the offering as fully subscribed. Availability moves between filings, so confirm current status with the sponsor or your representative before naming this Trust as replacement property inside your 45-day identification window.
Who is the tenant?
There is no single corporate tenant. This is an apartment community, so revenue comes from residents signing individual leases that renew or turn over on their own schedules. Baker 1031's offering summary describes the Trust master-leasing the property to a sponsor affiliate — the Master Tenant — which retains BH Management Services, LLC for day-to-day operations, and describes the property as stabilized and 94.7% leased.[2] Occupancy readings age quickly, and the master-lease terms themselves are set out in the PPM (private placement memorandum).
What did the Trust pay for the property?
Traded reported that NexPoint Outlook DST acquired the 300-unit property at 7278 Cahaba Valley Road from Blackstone Real Estate for $54,400,000, closing November 20, 2025.[3] The Birmingham Business Journal, citing public records, reported the same sale at nearly $55 million.[4] Purchase price is not the same as total acquisition cost, which also carries closing costs, reserves and fees; that figure appears in the property section of this record.
Who is the lender?
The sources reviewed for this record do not name the lender. Baker 1031's offering summary reports a single first-mortgage loan of $32,700,000 with a fixed rate, a 10-year term maturing in December 2035, and interest-only payments for the full term.[2] The financing section of this record carries the sponsor-stated rate, term and leverage figures. Confirm the lender, principal balance and every loan covenant in the PPM and the loan documents before identifying this Trust.
What does the rent-restricted unit requirement mean?
Sponsor data in this record notes the loan requires the property to maintain a minimum percentage of rent-restricted units — apartments that must be leased at capped rents, typically tied to area income limits. That obligation runs with the debt rather than with any individual resident, and it can limit how far rents on those units move. The exact percentage, the income standard used, and the consequences of falling out of compliance are matters for the PPM and the loan documents.
Can this Trust convert into REIT shares through a 721 exchange?
The record for this Trust does not show a 721/UPREIT feature — the arrangement where a DST's property is later contributed to a REIT's operating partnership in exchange for units, converting a real property interest into a securities interest. Absent that feature, the exit contemplated for this Trust is governed by the PPM and the trust agreement, which you should read before identifying the Trust.
Chapter 9NexPoint Launches Multifamily DST Offering for Birmingham, Alabama PropertyWire-distributed sponsor press release announcing NexPoint Outlook DST (offering size $32,903,006) backed by The Outlook at Greystone, a 300-unit Class A apartment community in Birmingham, Alabama.