Top1031

The Outlook at Greystone

Multifamily property in Birmingham, AL · sponsored by NexPoint

Active offeringLatest Form D filed Oct 6, 2026 · 8 filings since Jan 28, 2026 (opens in a new tab)

The Outlook at Greystone is a DST sponsored by NexPoint that owns a multifamily property in Birmingham, AL. Its latest Form D, filed Oct 6, 2026, lists a $32.9 million offering with a $100,000 minimum.

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$32,903,006
Equity offered, per the Form D
Sold so far
36.9%
Form D, Oct 6, 2026; the % is our arithmetic
Investors reported
28
Form D, Oct 6, 2026
Selling commissions
$2,879,013 · 8.7% 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(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Sponsor buyout right
Yes, after 1 year
Offering documents, Dec 2025 · Deal terms ↓

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
Oct 6, 2026 · 8 filings
First sale
Jan 26, 2026

These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.

How we work out how much has sold

We divide the amount the sponsor reports sold by the offering size in its latest SEC filing, filed Oct 6, 2026.

  • The sponsor reports these amounts itself, and can amend them later.
  • A filing can be behind what has actually sold. It does not confirm that interests are still available.
  • The amount left to sell is the offering size minus the amount sold.
Amount sold
$12,145,387
Not yet sold
$20,757,619
Investors
28

Calculated by Top1031 from the Form D filings, not stated by the sponsor:

36.9% of $32,903,006 sold, calculated by Top1031 from the Form D

Average since first sale
about $1.4 million a month
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Ask a 1031 specialist about this recordFree. About: The Outlook at Greystone. Top1031 is not a broker-dealer.
The Outlook at Greystone image 1 of 3

The Outlook at Greystone · Birmingham, AL · Photo: cdn.livebh.com

Location map7278 Cahaba Valley Road, Birmingham, ALAddress matched to a cited source

What does The Outlook at Greystone own?

The Outlook at Greystone is a Class A apartment community in southeast Birmingham, Alabama. 1 The Birmingham Business Journal, citing public records, reported that NexPoint Outlook DST bought 7278 Cahaba Valley Road for $54.4 million on November 20, 2025. 2 NexPoint's December 15, 2025 launch release stated a total offering acquisition cost of $61,177,430, a figure it distinguishes from the property purchase price. 1

Property address
7278 Cahaba Valley Road, Birmingham, AL
Total funding
$65,603,006
Investor money plus any loan.
Property acquisition cost
$58,100,999
Unit count
Not stated
On the offering page.
Third-party listing detail
1-3 BR units, 546-1,393 SF, built ~2007
From third-party listings in the cited public record.

How have sales gone?

The sponsor’s own numbers, with the caveat in Sales so far ↑.

Share of the offering sold at each Form D filing date, calculated by Top1031 from the filed amounts
0%50%100%0.9%36.9%Jan 28, 2026Oct 6, 20260%50%100%0.9%36.9%Jan 28, 2026Oct 6, 2026

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

Mortgage debt sits inside the Trust, so an exchange replaces both equity and a share of the borrowing. Baker 1031 reports a $32.7 million first-mortgage acquisition loan taken at closing. 3 The loan also requires the property to keep a minimum share of its units rent-restricted.

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.
Interest rate
4.67% fixed
Loan term
120 months, interest-only for full term
Reserves held by the lender
$325,576
Reserves the trust controls
$4,100,000
May convert to a REIT (721)
See Deal terms ↓
Target hold
5–10 years From NexPoint’s offering documents (Dec 2025). As reported by the sponsor.

Costs and terms from the Form D

Selling commissions
$2,879,013 · 8.7% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,014,918 · 3.0% of offering
Form D Item 16
· The filing’s note: “Item 16 is an estimate of offering expenses and acquisition/facilitation fees that may accrue to one or more Related Persons.”
Broker-dealers named in the Form D
8 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jan 26, 2026
Minimum investment
$100,000

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 are the deal terms?

From NexPoint’s offering documents (Dec 2025).

Your exit

Can the sponsor's affiliate buy investors out?
Yes, after 1 year

All investors must hold 1 year. No reply: cash (taxable sale)

Rent and the bills

Who pays rent to the trust?
A master tenant affiliated with the sponsor
Who pays for roof and structural repairs?
Investors, through the trust
Who pays if taxes or insurance go up?
Investors, through the trust
Was the property bought from a sponsor affiliate?
No

Your rights

Can investors remove the manager?
No
How are disputes with the sponsor resolved?
In court

What does the SEC record show?

A Form D is the brief SEC notice that a private placement has begun; each amendment here restates the amount subscribed. The initial filing gives January 26, 2026 as the offering's first sale. 5 The exemption used permits general advertising, so the sponsor must verify each buyer's accredited status.

Legal Trust name
NexPoint Outlook DST
SEC CIK
2100839
First Form D
Jan 28, 2026
Latest Form D
Oct 6, 2026
Filings on record
8
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$32,903,006
$12,145,387+$125,000
28+1
EDGAR
Form D/A$32,903,006
$12,020,387+$1,282,051
27+1
EDGAR
Form D/A$32,903,006
$10,738,336+$2,460,080
26+2
EDGAR
Form D/A$32,903,006
$8,278,256+$2,495,011
24+5
EDGAR
Form D/A$32,903,006
$5,783,245+$3,547,245
19+11
EDGAR
Form D/A$32,903,006
$2,236,000+$941,000
8+4
EDGAR
Form D/A$32,903,006
$1,295,000+$982,500
4+3
EDGAR
Form D$32,903,006
$312,500
1
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 Outlook at Greystone an active offering?
The Outlook at Greystone is an Active offering: its latest Form D was filed Oct 6, 2026. 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.
Does The Outlook at Greystone have a 721 UPREIT exit?
The record lists a possible 721 exit for The Outlook at Greystone. It is an option, not a completed transaction; the offering documents set whether and when it can happen. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
How a DST-to-721 UPREIT exit works
What does the Trust own?
It owns The Outlook at Greystone, a 300-unit Class A apartment community at 7278 Cahaba Valley Road in southeast Birmingham, Alabama, as NexPoint described it in its December 15, 2025 launch release. The Birmingham Business Journal, citing public records, reported the purchase at $54.4 million in a sale that closed November 20, 2025. A single property backs the entire offering, so performance rests on that one community.
Who pays the rent at an apartment DST like this one?
Residents do, on individual apartment leases rather than one long corporate lease. Baker 1031's offering summary describes the trust master-leasing the property to a sponsor affiliate, which holds the lease and handles operations, and reported the community 94.7% leased as of November 3, 2025. That occupancy figure is dated to that day, and apartment occupancy moves as leases renew and turn over.
How is the property financed?
With a first mortgage on the property alongside investor equity. The debt sits inside the Trust, so a 1031 investor's exchange covers both the equity interest and a share of the borrowing.
What is the rent-restricted unit requirement on the loan?
The loan requires the property to keep a minimum percentage of its units rent-restricted, meaning rents capped under an income standard. That obligation runs with the debt rather than with any individual resident, and it can limit how far rents on those units move while the loan is outstanding. The exact threshold, the income standard used and how compliance is measured are set out in the loan documents and the offering documents.
Why do NexPoint's acquisition-cost figures differ between sources?
The two figures were published at different times. Both are sponsor-defined totals rather than the recorded purchase price, which the Birmingham Business Journal put at $54.4 million.

In the news

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.