Top1031

1536-1542 Tremont Street

Multifamily property in Boston, MA

HistoricalLast Form D, filed Oct 19, 2022, reports the offering fully sold (opens in a new tab)

1536-1542 Tremont Street was a DST that owned a multifamily property in Boston, MA (8 units). Its last Form D, filed Oct 19, 2022, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Oct 19, 2022, reports the offering fully sold.

Key facts

Minimum investment
Not in the Form D
From the Form D
Offering size
$6,317,529
Equity offered, per the Form D
Sold
100%
Form D, Oct 19, 2022; the % is our arithmetic
Investors reported
2
Form D, Oct 19, 2022
Selling commissions
$0 · 0.0% of offering
Form D Item 15; the % is our arithmetic
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: 1536-1542 Tremont Street. Top1031 is not a broker-dealer.

What did 1536-1542 Tremont Street own?

Groma assembled the deal in stages: an affiliate, Groma NAV REIT NB, LLC, acquired the Tremont Street property on August 4, 2022, and the trust that holds it was created on September 15, 2022. 1 The quitclaim deed conveying 1536-1542 Tremont Street to Groma CCP WMI DST was recorded in Suffolk County on October 7, 2022. 2 The building sits in Boston's Mission Hill/Roxbury area and mixes apartments with commercial space.

Reported location
Boston, MA
Property size
8 units (6 residential + 2 commercial)

How was it financed, and what did it cost to sell?

Needham Bank financed the building as part of a $41.5 million multi-part facility announced in August 2022. Leveraged means the Trust holds mortgage debt against the property, so investors take on the loan's terms and refinancing risk along with their beneficial interest in the real estate.

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$0 · 0.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$0 · 0.0% of offering
Form D Item 16
Broker-dealers named in the Form D
None named in the Form D
Date of first sale
Oct 6, 2022
Minimum investment
Not in the Form D

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.

What does the SEC record show?

The interests were sold privately, without registration or general advertising, to accredited investors — people meeting SEC income or net-worth tests. The filing reports a first sale on October 6, 2022, and nothing further has been filed for this Trust since.

Legal Trust name
Groma CCP WMI DST
SEC CIK
1947539
First Form D
Oct 19, 2022
Latest Form D
Oct 19, 2022
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D$6,317,529
$6,317,529
2
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 1536-1542 Tremont Street?
1536-1542 Tremont Street is a Historical offering. The last Form D, filed Oct 19, 2022, reports the offering fully sold.
What exactly does the Trust own?
One mixed-use building at 1536-1542 Tremont Street in the Mission Hill/Roxbury neighborhood of Boston, containing 8 units — 6 residential and 2 commercial. A quitclaim deed recorded in Suffolk County on October 7, 2022 conveyed the property from Groma NAV REIT NB, LLC to Groma CCP WMI DST, with Groma Advisor, LLC acting as trustee.
Who pays rent to the Trust?
Under a master lease structure, the Trust leases the whole property to Groma CCP WMI Master Tenant, LLC, a sponsor affiliate. The master tenant deals with residents and commercial occupants and pays rent to the Trust, which insulates the Trust from day-to-day operations. Audited Groma NAV REIT financial statements date that master lease to October 6, 2022 with an expiration of March 31, 2032, and name Groma Property Management, LLC as property manager. Individual end-tenants are not identified in public records.
Is there debt on the property?
Yes — the Trust is leveraged. Groma announced in August 2022 that Needham Bank was financing a group of its Boston multifamily investments, including 1536-1542 Tremont Street, through a $41.5 million multi-part facility. The loan amount, rate, and maturity specific to this building are not disclosed in the public record; a prospective buyer of a secondary interest would look to the offering documents and loan documents.
Could this Trust roll into a REIT?
The record shows no 721/UPREIT exit — the option to exchange DST interests for operating-partnership units in a REIT rather than receiving sale proceeds. Nothing in the filings indicates that path for this Trust.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

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.