Minimum investment
$100k
Offering size
$32.9M
How much has sold
33.0%
Asset type
Multifamily property
Location
Birmingham, AL
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
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. Sponsor material describes a 300-unit Class A apartment community in southeast Birmingham, Alabama, which the Trust acquired from Blackstone Real Estate on November 20, 2025.3 It is raising now and carries mortgage debt.
Multifamily apartment community
Show sources (9)Hide sources (9)
These links support the public record as a whole; 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.
What exactly is the property?
NexPoint's launch release describes a 300-unit Class A apartment community in southeast Birmingham, Alabama.1 Traded reports the Trust bought it from Blackstone Real Estate, closing November 20, 2025, at $54,400,000, or $181,333 per unit.3 Baker 1031's offering summary instead reports roughly $54.5 million for the same November 20 closing, and no reviewed source reconciles the two figures.2
- 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. Offering material describes the Trust master-leasing the community to a NexPoint affiliate — the Master Tenant — which retains BH Management Services to operate it, so income ultimately comes from residents on individual apartment leases that turn over continuously.2 That material reports the property 94.7% leased as of November 3, 2025.2
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
- Still available
- $22,164,670
- Investors reported
- 26
- Total offering
- $32,903,006
See how much of this offering has soldSign in by email and confirm you’re an accredited investor.
How is it financed, and what does it pay?
The Trust carries mortgage debt, so an exchange into it replaces both equity and a share of borrowing rather than equity alone. Sponsor data in this record notes the loan requires maintaining a minimum percentage of rent-restricted units. Sources reviewed for this update did not name the lender.
- 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 sponsors Delaware statutory trusts for 1031 exchange buyers alongside a broader real estate platform, and this Birmingham community is one of the multifamily assets it has placed into that program.5 The August 5, 2026 Form D/A names NexPoint Real Estate Advisors IV, L.P. as sponsor and NexPoint Outlook Parent Manager, LLC as manager and signatory trustee — the affiliates that sign the filings and control the Trust.4 No completed outcome, distress event, or litigation involving this Trust appeared in the sources reviewed through August 31, 2026.
- Sponsor
- NexPoint
- Legal Trust name
- NexPoint Outlook DST
- 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?
The Form D is the SEC notice that a private placement has begun; each later amendment on this record restates the amount subscribed as investors come in.4 The offering relies on the private-placement exemption that permits general advertising, which obliges the sponsor to take reasonable steps 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.
- 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?
Top1031 lists The Outlook at Greystone 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 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 record was filed August 5, 2026, and it does not report the offering as fully subscribed.[4] 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, and what is a master lease?
There is no single corporate tenant. Offering material describes the Trust leasing the whole property to a NexPoint-affiliated Master Tenant, which retains BH Management Services to run the community; residents sign individual apartment leases with that operator.[2] The same material reports the property 94.7% leased as of November 3, 2025 — a reading from around the acquisition period, not a current figure.[2] Public sources reviewed did not name the Master Tenant's legal entity or its lease economics; those terms are set out in the PPM (private placement memorandum).
How many units does the property have?
NexPoint's December 15, 2025 launch release describes a 300-unit Class A community, and broker offering material also describes 300 units.[1] The sponsor offering-page data captured in our record does not state a unit count, so confirm the number in the PPM before relying on it.
What did the Trust pay for the property?
Traded reports the Trust bought the property from Blackstone Real Estate for $54,400,000, closing November 20, 2025, which it puts at $181,333 per unit.[3] Baker 1031's offering summary reports roughly $54.5 million for the same closing date, and no reviewed source reconciles the difference.[2] The sponsor's offering page reports a larger total acquisition cost — a broader measure including costs beyond the purchase price — which appears in the property section of this record.
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 single 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 loan documents.
Could this Trust roll into a REIT at exit?
Our record shows no 721/UPREIT feature for this Trust — that is the structure where a DST's property is contributed to a REIT's operating partnership in exchange for partnership units instead of being sold for cash. Exit provisions are set out in the PPM and trust agreement; read them before assuming any particular path.
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.