Dawson Park Apartments
Multifamily property in Baton Rouge, LA — sponsored by Rance King Properties
Files with the SEC as RK Dawson Park DST
Minimum investment
$25k
Offering size
$33.6M
How much has sold
None sold yet
Asset type
Multifamily property
Location
Baton Rouge, LA
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Dawson Park Apartments is a newly built 155-unit apartment community in Baton Rouge, Louisiana, held in a Delaware statutory trust (DST) — a structure that lets 1031 exchange investors own a fractional interest in real estate. Rance King Properties acquired it in July 2022 for $45,725,000.1 The Trust is now closed to new investors, having been reported fully subscribed in February 2023.3
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These links support the historical public record; 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 stands at 8451 Picardy Ave. in Baton Rouge, next to Baton Rouge General Hospital in the city's health district.2 It was newly constructed when Rance King Properties bought it off-market directly from the developer in July 2022. ELIFIN Realty reported the price at $45,725,000, or about $295,000 per unit.1 The apartments are one- and two-bedroom units.3
- Reported location
- Baton Rouge, LA
- Property size
- 155 units
Who is the tenant, and what's the lease?
There is no single corporate tenant here: this is an apartment community leased to residents, so income rests on many short-duration leases rather than one credit. Current listings advertise terms of six to 13 months with short-term leases available.4 Occupancy has not been publicly reported.
How did it end?
No sale or other ending on record
No public sale or full-cycle announcement was located; Dawson Park Apartments (155-unit complex in Baton Rouge, LA acquired Jul 2022 for $45.7M) remains listed by RK Properties as a current 2026 portfolio asset and is being actively leased (rkprop.com, rkdawsonpark.com '© 2026 RK Properties').
AltsWire reports a $33.6 million DST offering acquired off-market directly from the developer and financed with 10-year fixed 4.4% interest-only debt from First Foundation Bank.
155 unitsSupporting evidence
How is it financed, and what does it pay?
Rance King Properties reported that First Foundation Bank provided the loan on interest-only terms for the entire term — meaning the balance does not amortize and the full principal falls due at maturity.3 The principal amount was not disclosed.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Rance King Properties sponsors 1031 exchange programs and appears in trade press under the RK Properties name.3 The firm announced the Dawson Park purchase on July 1, 2022 and reported the offering fully subscribed on February 24, 2023.3 Apartment listings identify RK Properties as the property manager, though they do not establish the ownership or master-lease structure.5 No sponsor developments after February 2023 bearing on this Trust were located in public sources.
- Sponsor
- Rance King Properties
- Legal Trust name
- RK Dawson Park DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 0 active / 2 total offerings from Rance King Properties
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust filed an original Form D — the SEC's brief notice of a private, exempt offering — and one amendment about five weeks later, each carrying a $25,000 minimum investment. Both were made under Rule 506(b), which bars general advertising and limits sales to accredited investors the sponsor already knows. No later amendment reported the offering's progress.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- 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
What happened to Dawson Park Apartments?
Top1031 lists Dawson Park Apartments as historical. It is no longer raising money.
Where does Top1031 get the data for Dawson Park Apartments?
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.
Can I still invest in this DST?
No. AltsWire reported on February 24, 2023 that Rance King Properties had fully subscribed the Dawson Park Delaware statutory trust offering, so the Trust is closed to new investors. Interests in a closed DST can sometimes change hands privately, but there is no public market for them.
What did the Trust pay for the property?
ELIFIN Realty reported that RK Dawson Park DST bought Dawson Park Apartments in July 2022 for $45,725,000, about $295,000 per unit. The Baton Rouge Business Report separately reported the sale at $45.7 million for the four-story, 155-unit complex.
What debt is on the property?
AltsWire reported financing from First Foundation Bank with a 10-year term, a fixed annual interest rate of 4.4%, and interest-only payments for the entire term. The loan principal was not stated in that report, and no loan document is part of the SEC record.
Does this Trust offer a 721/UPREIT exit?
No REIT conversion feature is indicated in the data on record. A 721 or UPREIT exit is an arrangement in which investors can eventually swap their real estate interest for operating-partnership units in a REIT; nothing here shows that path. Any exit terms would be governed by the private placement memorandum (PPM), the offering's full disclosure document.
What is a Rule 506(b) offering, and why does it matter here?
Rule 506(b) is the private-placement exemption that lets an issuer sell without registering with the SEC, provided it does not advertise publicly and sells to accredited investors with whom it already has a relationship. That is why a 506(b) DST like this one was never marketed openly and why the public record is limited to two short Form D notices plus trade-press coverage.
What is still not publicly known about this Trust?
The seller and developer's identity, the loan principal, the full capitalization stack, current occupancy, and any material property event after February 2023 were not established in public sources. The sponsor and current listings give the address as 8451 Picardy Ave., while one brokerage account cites 8453 Picardy Ave.; that discrepancy is unresolved.
Chapter 9RK Properties Fully Subscribes Louisiana DST OfferingRK Properties announced the full subscription of its $33.6 million Delaware statutory trust offering for the Dawson Park multifamily property in Baton Rouge. Dawson Park Apartments sells for $45.7MDawson Park Apartments, a four-story 155-unit complex in the Baton Rouge Health District, sold to RK Properties for $45.7 million. RK Properties Buys Newly Constructed Baton Rouge Apartment CommunityRK Properties purchased Dawson Park, a newly constructed 155-unit multifamily property in Baton Rouge, to be offered as a Delaware statutory trust.