NuCare St. Louis Park
Senior housing (assisted living / memory care) property in St. Louis Park, Minnesota — sponsored by NuCare
Sponsor NAI Legacy; built 2013; NuCare-managed; min $50k; $1.09M/$3.54M sold (11/2025)
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These links support the public record as a whole; individual details may come from different sources.
What is this, in one paragraph?
NuCare St. Louis Park is a Delaware statutory trust (DST) — a structure giving 1031 exchangers fractional ownership of real estate — holding a 2013-built assisted living and memory care community in suburban Minneapolis, leased to a single tenant.1 Interests go only to accredited investors, those meeting SEC income or net-worth tests. The sponsor's program page listed this offering as closed when checked July 13, 2026.2
Minimum investment
$50k
Offering size
$3.5M
How much has sold
31.0%
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
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?
NAI Legacy reports that the Trust closed and acquired the property on November 14, 2025, the same day the lease began.1 Sponsor materials describe a community built in 2013 operating as assisted living with memory care in the Minneapolis–St. Paul metro.1 The sponsor's two published listings disagree on unit count — its Legacy Exchange Program page says 22 — and no purchase price, occupancy figure or licensed capacity appears in reviewed public sources.
- Property address
- 7115 Wayzata Blvd, St. Louis Park, Minnesota
- Property size
- approximately 20,975 square feet; 28 residential units
Who is the tenant, and what's the lease?
NAI Legacy identifies CH SLP LLC as the tenant under a lease running November 14, 2025 to October 31, 2040, with a tenant purchase option dated October 31, 2029.1 Income rides on that one tenant. Reviewed sources do not name the day-to-day operator, and expense responsibilities appear only in the PPM, the offering's private placement memorandum.
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.
31.0% reported sold
- Amount sold
- $1,093,487
- Reported unsold
- $2,441,918
- Investors reported
- 2
- Total offering
- $3,535,405
Not enough filings yet to show a trend.
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How is it financed, and what does it pay?
The Trust is leveraged: NAI Legacy reports $2,460,000 of mortgage debt within total capitalization of $5,995,405.1 In a leveraged DST, the lender is repaid before investors receive anything. No reviewed public source names the lender, the maturity or the interest terms.
Who's behind it?
NAI Legacy sponsors the Trust and markets it through the Legacy Exchange Program, its 1031-exchange DST platform under the Legacy Property Trust brand.1 One wrinkle for anyone working a deadline: that same program page listed this Trust's offering as closed when checked July 13, 2026, which sits awkwardly beside an unamended SEC notice.2 Research through September 18, 2026 located no later sponsor statement reversing the listing.
- Sponsor
- NuCare
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 2 total offerings from NuCare
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
Only one SEC notice is on record and nothing has amended it since, so the figures on file speak as of the day they were filed. Because this offering may be advertised publicly, the sponsor must take reasonable steps to verify each buyer's accredited status rather than accept a self-certification.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- NuCare SLP DST
- Filings on record
- 1
- 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 NuCare St. Louis Park still raising money?
The sponsor’s SEC filings show the offering raising money within the past 15 months. A filing does not by itself confirm you can still buy in.
Where does Top1031 get the data for NuCare St. Louis Park?
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 does this Trust actually own?
A single senior housing property at 7115 Wayzata Blvd in St. Louis Park, Minnesota, operating as assisted living with memory care in the Minneapolis–St. Paul metro. NAI Legacy's offering page describes a building constructed in 2013 of approximately 20,975 square feet with 28 residential units, while the sponsor's Legacy Exchange Program listing states 22 units; reviewed sources do not reconcile the two. No purchase price, occupancy figure or licensed capacity appears in the reviewed public record.
Who is the tenant, and what kind of lease is in place?
NAI Legacy identifies CH SLP LLC as the tenant and reports a lease that commenced November 14, 2025 and expires October 31, 2040, with a tenant purchase option dated October 31, 2029. Because the building's income comes from one tenant, that tenant's performance is the practical credit question. Reviewed public sources do not name the day-to-day operator or describe which expenses the tenant bears; the lease and the PPM — the private placement memorandum governing the offering — control those details.
Is the Trust leveraged?
Yes, according to the sponsor. NAI Legacy reports total capitalization of $5,995,405, of which $2,460,000 is mortgage debt and the balance is investor equity. A lender is therefore repaid ahead of investors, and the SEC filing itself does not describe the debt. The lender's identity, the loan's maturity and its interest terms do not appear in reviewed public sources; those live in the PPM and the loan documents.
Is the offering still open?
The public record is mixed. The SEC record shows a single Form D — the notice an issuer files for an offering exempt from registration — with no later amendment, while NAI Legacy's Legacy Exchange Program page listed NuCare SLP DST as closed when it was checked on July 13, 2026, and research through September 18, 2026 found no sponsor statement reversing that. A Form D records offering activity as of the day it was filed; it does not establish current availability. Anyone working against a 45-day identification clock should confirm status directly with the sponsor.
Who can invest, and what is the minimum?
Only accredited investors — broadly, individuals meeting SEC income or net-worth thresholds. Because the offering is made under Rule 506(c), the exemption that permits general advertising, the sponsor must take reasonable steps to verify accredited status rather than accept a self-certification; that typically means tax returns, brokerage statements, or a letter from a CPA or attorney. The Form D states a $50,000 minimum investment.
Could this Trust roll into a REIT later?
Nothing in the record indicates a 721/UPREIT exit — the structure in which a DST's property is contributed to a REIT in exchange for operating-partnership units, converting a future 1031 exchange into REIT units. The Trust is presented as a direct property holding with a lender in place and a long lease term. Any exit mechanics, including the sponsor-reported tenant purchase option, are described in the PPM.
Chapter 9Legacy Exchange Program (DST) — NuCare St. Louis Park DSTNAI Legacy's program page describing NuCare St. Louis Park DST as an assisted living community in St. Louis Park built in 2013 with 22 units.