Minimum investment
$50k
Offering size
$3.5M
How much has sold
31.0%
Asset type
Senior housing (assisted living / memory care) property
Location
St. Louis Park, Minnesota
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
NuCare St. Louis Park is a Delaware statutory trust — a DST, the structure that lets a 1031 exchanger hold a fractional interest in real estate — that owns an assisted living and memory care community built in 2013 in suburban Minneapolis.1 A mortgage sits alongside investor equity.1 Interests are offered only to accredited investors, those meeting SEC income or net-worth tests.
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.
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 community was built in 2013 and operates as assisted living with memory care in the Minneapolis–St. Paul metropolitan area.1 Sponsor materials are the only public description of the building; the SEC filing carries no property detail. NAI Legacy's two published listings disagree on the number of residential units — its program page says 22 — and reviewed sources do not reconcile them.2 Purchase price and occupancy appear in no reviewed public source.
- 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 names CH SLP LLC as tenant under a triple-net master lease — one in which the tenant, not the Trust, carries taxes, insurance and maintenance — commencing November 14, 2025 and expiring October 31, 2040, with a tenant purchase option dated October 31, 2029.1 Reviewed public sources name no day-to-day operator or license holder beyond that entity.
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
- Still available
- $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: the sponsor reports $2,460,000 of mortgage debt sitting alongside investor equity.1 In a leveraged DST, the lender is repaid before investors receive anything. No reviewed public source names the lender, the maturity, or the rate.
Who's behind it?
The Trust is marketed through NAI Legacy's Legacy Exchange Program, that firm's 1031 exchange DST platform.2 One wrinkle for anyone working a deadline: as of July 13, 2026, that program page listed this Trust as closed, which sits awkwardly beside a single unamended Form D.2 Duane H. Lund signed that notice as manager of the signatory trustee.3 Research through August 31, 2026 located no later sponsor statement restating that listing.
- Sponsor
- NuCare
- Legal Trust name
- NuCare SLP DST
- 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?
No amendment has followed the original notice, which reports a first sale on November 4, 2025.3 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.
- 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?
Top1031 lists NuCare St. Louis Park 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 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. NAI Legacy's offering page describes a building constructed in 2013 of approximately 20,975 square feet. The unit count is unsettled: that page states 28 residential units while the sponsor's Legacy Exchange Program listing states 22, and reviewed sources do not reconcile the two. No purchase price appears in the SEC record, and reviewed public sources do not state occupancy or licensed capacity.
Who is the tenant, and what kind of lease is in place?
NAI Legacy identifies CH SLP LLC as the tenant under a triple-net master lease, meaning the tenant rather than the Trust is responsible for property taxes, insurance and maintenance. The sponsor states the lease commenced November 14, 2025 and expires October 31, 2040, with a tenant purchase option dated October 31, 2029 — so the tenant may have a contractual path to buy the property years before the lease ends. The lease itself and the PPM, the private placement memorandum that governs the offering, control the details.
Is the Trust leveraged?
Yes. The sponsor reports total capitalization of $5,995,405, of which $2,460,000 is debt and the balance is investor equity. A lender is therefore repaid ahead of investors. 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 SEC record shows one Form D, filed November 18, 2025, reporting a first sale on November 4, 2025, with no later amendment. NAI Legacy's Legacy Exchange Program page, however, listed NuCare SLP DST as closed when verified on July 13, 2026, and research through August 31, 2026 found no sponsor statement reversing that. Anyone working against a 45-day identification clock should confirm current availability directly with the sponsor rather than rely on either source alone.
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. The Trust is presented as a direct property holding with a lender in place, and a tenant purchase option dated October 31, 2029 appears in sponsor materials. Any exit mechanics 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.