NuCare-managed assisted living community, Madison
Senior housing property in Madison, WI · sponsored by NuCare
NuCare-managed assisted living community, Madison was a DST sponsored by NuCare that owned a senior housing property in Madison, WI (96 beds). Its last Form D was filed Jul 29, 2025.
How it ended
No outcome recorded · under 7 yearsLast Form D filed Jul 29, 2025.
Key facts
A free account shows how much of each active offering has sold and the Sponsor Grade letters.- Minimum investment
- $106,611From the Form D
- Offering size
- $5,740,925Equity offered, per the Form D
- Sold
- 95.7%Form D, Jul 29, 2025; the % is our arithmetic
- Investors reported
- Form D, Jul 29, 202516
- Selling commissions
- Form D Item 15; the % is our arithmetic$344,456 · 6.0% of offering
- 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.
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 →
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Ask a 1031 specialist about this recordFree. About: NuCare-managed assisted living community, Madison. Top1031 is not a broker-dealer.What did the Trust own?
NAI Legacy described the holding on August 22, 2025 as two assisted living and memory care communities in Dane County, Wisconsin, the Madison metro area, totaling 59,787 square feet and, by its count, 72 licensed beds. 2 The same release said its sale-leaseback financing helped the operator buy that two-property portfolio. 2
- Property address
- 6550 Schroeder Rd, Madison, WI
- Property size
- 96 beds (combined); Willow Glen 48 private rooms
How was it financed, and what did it cost to sell?
The Trust carries a loan alongside investor equity, so rent covers debt payments before investors are paid. NAI Legacy reported $9 million of sale-leaseback financing for the transaction on August 22, 2025, a total including debt. 2 The Form D reports a $5,740,925 offering. 1
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $344,456 · 6.0% of offering
- Finders’ fees
- $57,410
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Emerson Equity LLC · CRD 130032
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jun 12, 2025
- Minimum investment
- $106,611
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.
Who's behind the Trust?
The Form D names Duane H. Lund as an executive officer and as manager of NuCare Madison Trustee, LLC, the Trust's signatory trustee. 1 NAI Legacy, a commercial real estate firm, reported arranging the sale-leaseback financing that helped NuCare Senior Living buy the two-community portfolio, in a release dated August 22, 2025. 2
- Sponsor
- Offerings on record
What does the SEC record show?
The filing record opens with a Form D, the brief notice of an exempt securities sale, which reported June 12, 2025 as the date of the Trust's first sale. 1 Its exemption allows public advertising, with each buyer's accredited status, an income or net worth test, verified rather than self-certified.
- Legal Trust name
- NuCare Madison DST
- SEC CIK
- 2077490
- First Form D
- Jul 29, 2025
- Latest Form D
- Jul 29, 2025
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $5,740,925 | $5,498,544 | 16 | 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
- What happened to NuCare-managed assisted living community, Madison?
- NuCare-managed assisted living community, Madison is a Historical offering. Last Form D filed Jul 29, 2025.
- What does this Trust actually own?
- It owns two assisted living and memory care communities in Dane County, Wisconsin, the Madison metropolitan area. NAI Legacy's August 22, 2025 release describes the portfolio as 59,787 square feet and says the sale-leaseback financing it arranged helped the operator acquire the two properties. The individual buildings and street addresses are set out in the offering documents.
- Who is the tenant, and what kind of lease is in place?
- NuCare Senior Living is both the operator and the lessee. NAI Legacy's August 22, 2025 release says it structured a new 15-year absolute triple-net lease with 2% annual rental increases. Absolute triple-net means the tenant carries taxes, insurance, maintenance and structural obligations, so the owner's exposure runs to the tenant's credit and operating performance rather than to running the care business itself.
- How many beds does the portfolio have?
- The counts differ by source. NAI Legacy's August 22, 2025 release reports 72 licensed beds across the two communities, while the property data on this page reports 96 beds combined. Licensed capacity is a regulatory figure set by the state and is not the same as a unit count or an occupancy figure.
- How is the Trust financed?
- It is leveraged, meaning a mortgage-style loan sits alongside investor equity. NAI Legacy reported delivering $9 million of sale-leaseback financing for the transaction, a total that includes debt, while the Form D reports a $5,740,925 offering of equity. The loan terms and the lender are described in the offering documents.
- Can investors exit into a REIT?
- The record shows no 721 or UPREIT option, the structure in which DST investors contribute the property to a REIT's operating partnership in exchange for OP units. The exit contemplated here is a sale of the real estate, with timing and mechanics described in the offering documents.
- Who signs for the Trust?
- The Form D names Duane H. Lund as an executive officer and as the manager of NuCare Madison Trustee, LLC, the Trust's signatory trustee. NAI Legacy, led by Duane Lund, publicly reported arranging the portfolio's sale-leaseback financing in a release dated August 22, 2025.
In the news
Sources
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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.