Riverstone Apartment Homes
Multifamily property in Grovetown, GA · sponsored by Rance King Properties
Riverstone Apartment Homes was a DST sponsored by Rance King Properties that owned a multifamily property in Grovetown, GA (328 units). Its last Form D was filed Aug 19, 2022.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Aug 19, 2022.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $66,640,000Equity offered, per the Form D
- Sold
- Not reported in its Form D filings (latest Aug 19, 2022)Form D, Aug 19, 2022
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,998,000 · 5.9% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
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: Riverstone Apartment Homes. Top1031 is not a broker-dealer.Riverstone Apartment Homes · Grovetown, GA · Photo: resource.rentcafe.com
What did Riverstone Apartment Homes own?
Riverstone Apartments stands at 101 Halton Drive in Grovetown, Georgia. 2 RK Properties reported closing escrow on the property on July 12, 2022, about two weeks before the private placement launched. 1 The sponsor describes the community as one-, two- and three-bedroom floor plans offered on flexible leases. 2 Neither the SEC filings nor public sponsor materials state a year built or a purchase price.
- Reported location
- Grovetown, GA
- Property size
- 328 units
How was it financed, and what did it cost to sell?
The Trust used mortgage debt rather than buying all-cash, so a lender's claim sits ahead of investor equity and the loan must be repaid or refinanced at maturity. The loan as reported was fixed-rate and interest-only; the public record does not name the lender.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $3,998,000 · 5.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $3,045,000 · 4.5% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 34 named in the Form D
Show the firms
- Arkadios Capital · CRD 282710
- Aurora Securities · CRD 46147
- Cabot Lodge Securities LLC · CRD 159712
- Capulent LLC · CRD 155155
- Center Street Securities, Inc. · CRD 26898
- Colorado Financial Service Corporation · CRD 104343
- Concorde Investment Services, LLC · CRD 151604
- Courtlandt Securities Corporation · CRD 137356
- Crown Capital Securities, L.P. · CRD 6312
- DAI Securities, LLC · CRD 36673
- DFPG Investments, LLC · CRD 155576
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Great Point Capital LLC · CRD 114203
- Growth Capital Services, Inc. · CRD 124658
- Huntwicke Securities, LLC · CRD 146993
- Independent Financial Group, LLC · CRD 7717
- JRL Capital Corporation · CRD 10225
- Lightpath Capital, Inc. · CRD 34617
- McDermott Investment Services, LLC · CRD 154926
- Metropolitan Capital Investment Banc, Inc. · CRD 148820
- Nationwide Planning Associates Inc. · CRD 31029
- Oak Tree Securities, Inc. · CRD 18126
- Patrick Capital Markets, LLC · CRD 16518
- Pinnacle Capital Securities, LLC · CRD 106213
- RCX Capital Group, LLC · CRD 114290
- Rance King Securities Corporation · CRD 15737
- Realized Financial, Inc. · CRD 22333
- Select Capital Corporation · CRD 145997
- The Strategic Financial Alliance, Inc. · CRD 126514
- Wealthforge Securities, LLC · CRD 152550
- Westpark Capital, Inc. · CRD 39914
- Whitehall-Parker Securities, Inc. · CRD 10608
- Willow Cove Investment Group, Inc. · CRD 107824
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $25,000
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.
Who's behind Riverstone Apartment Homes?
Rance King Properties Inc., which markets its offerings as RK Properties, is named as the promoter of this Trust in its SEC filing. 4 The same firm is listed as the property manager at Riverstone, so the sponsor both raised the equity and runs the asset. 3
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust filed an initial Form D — the short SEC notice used for private, unregistered offerings — and a single amendment a few weeks later, after which the EDGAR record went quiet and never tracked the offering's progress. Sold under Rule 506(b), it could not be publicly advertised and reached accredited investors through existing relationships.
- Legal Trust name
- RK Riverstone DST
- SEC CIK
- 1939601
- First Form D
- Jul 25, 2022
- Latest Form D
- Aug 19, 2022
- Filings on record
- 2
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D/A | $66,640,000 | $0 | EDGAR | |
| Form D | $66,640,000 | $0 | 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 Riverstone Apartment Homes?
- Riverstone Apartment Homes is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Aug 19, 2022.
- What property does the Trust own?
- Riverstone Apartment Homes, a 328-unit multifamily community in Grovetown, Georgia, per RK Properties' announcement reported by AltsWire on August 4, 2023. The sponsor's property record places it at 101 Halton Drive, Grovetown, GA 30813, with one-, two- and three-bedroom floor plans.
- Why does the SEC record look incomplete for this offering?
- Issuers are not required to keep amending a Form D as an offering fills. RK Properties filed its initial Form D on July 25, 2022 and one amendment on August 19, 2022, then stopped, so EDGAR does not reflect the offering's later progress. The full-subscription outcome comes from the sponsor, reported by AltsWire on August 4, 2023.
- Who manages the apartments day to day?
- A RentCafe listing for the Grovetown Riverstone property identifies RK Properties as the property manager. In a DST, investors hold passive beneficial interests and have no role in leasing, staffing, or operating decisions — those sit with the sponsor and its manager.
- Does this Trust have a 721/UPREIT exit?
- The record shows no 721 exchange or UPREIT feature — that is, no stated path to swap beneficial interests for operating-partnership units in a REIT at exit. Any exit terms would be described in the Trust's offering documents.
- What is not known from public sources?
- The purchase price, the lender's identity, the year the property was built, the current occupancy or lease-up level, and any separate master-tenant entity are not established by the SEC filings or the sponsor's public materials reviewed through August 23, 2026.
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.