APEX South Creek
Multifamily property in Orlando, FL — sponsor not disclosed
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
APEX South Creek, DST is a Delaware statutory trust — a structure that lets 1031 exchangers own fractional real estate — holding Apex at South Creek, a 300-unit Class A apartment community completed in 2022 in southeast Orlando.1 A Versity/Apex venture bought the property for $100 million on November 18, 2022, and placed it into the Trust.3 Its SEC record is a single Form D from November 2022.
Minimum investment
Not stated
Offering size
$73.6M
How much has sold
None sold yet
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited 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?
DHI Communities developed the community near Lake Nona and delivered it in 2022: ten three-story buildings on roughly 24.85 acres, holding about 304,000 square feet of net rentable residential space at 3060 Southcreek Boulevard, Orlando, Florida 32824.1 An asset management agreement filed with the SEC in November 2022 names the Trust as the owner of the property.2
- Reported location
- Orlando, FL
- Property size
- 300 units
Who is the tenant, and what's the lease?
There is no single corporate tenant here — income comes from apartment residents on short-term leases. Apex South Creek Leaseco, LLC holds a master lease from the Trust and Book and Ladder, LLC manages the property day to day, the usual DST arrangement that keeps the trust itself passive.2
How did it end?
No ending on record
300-unit Class-A garden-style apartment community delivered in 2022 by DHI Communities near Lake Nona/Lake Nona South in the Orlando MSA. Acquired by a Versity/Apex venture for ~$100M (Nov 18, 2022) and placed into a Crew Enterprises-sponsored DST. Crew raised the Yield Enhancement feature from 4% to 6.5% annually for 24 months in June 2023.
300 unitsSupporting evidence
Counted on the sponsor’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
The Form D discloses nothing about debt, so the Trust's leverage is not established in the public record. GrowthSpotter reported that the buyer placed a $45.9 million mortgage from Walker & Dunlop on the acquisition; maturity and extension terms were not retrieved.6
Who's behind it?
Crew Enterprises, LLC publicly identifies itself as the sponsor of this Trust.4 On June 27, 2023, Crew announced a change to the offering's stated yield enhancement feature and reported the property 96% occupied.4 SEC records place the issuer's principal address at 20 Enterprise, Suite 400, Aliso Viejo, California.5 On November 1, 2025, plaintiff-side law firm Iorio Law published an investor-loss page referencing this Trust and related Versity Investments litigation.
- Sponsor
- Sponsor not disclosedThe filing does not identify a sponsor we can confirm.
- May convert to a REIT
- No
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
A Form D is the brief notice an issuer files with the SEC after a private placement's first sale; no amendment has followed this one, so the federal record has not been updated since 2022.5 Rule 506(b) offerings cannot be generally advertised and are sold through existing relationships to accredited investors — those meeting SEC income or net-worth tests.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- APEX SOUTH CREEK, DST
- Filings on record
- 1
- How it may be offered
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- 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 APEX South Creek?
APEX South Creek is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for APEX South Creek?
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 APEX South Creek, DST own?
A single asset: Apex at South Creek, a 300-unit Class A garden-style apartment community at 3060 Southcreek Boulevard in southeast Orlando, Florida. Sponsor materials describe ten three-story buildings on roughly 24.85 acres with about 304,000 square feet of net rentable residential space, built in 2022. An asset management agreement filed with the SEC in November 2022 identifies the Trust as owner.
Who operates the property?
Apex South Creek Leaseco, LLC is the master tenant under a master lease with the Trust, and Book and Ladder, LLC is the property manager responsible for day-to-day operation, per the asset management agreement filed with the SEC. This is the standard DST structure: the trust holds title passively while an affiliated master tenant and manager handle leasing, staffing and operations.
Is this Trust still open to new investors?
The SEC record does not answer that. The Trust filed one Form D on November 22, 2022 and no amendments since. Issuers are not required to keep Form D data current after a raise winds down, so a stale filing establishes neither an open raise nor a closed one. Only the sponsor can confirm current availability.
What was the "yield enhancement feature" Crew announced?
On June 27, 2023, Crew Enterprises published a notice announcing an increase in the offering's stated yield enhancement — a sponsor-supported supplement to investor distributions for a defined period, in this case 24 months. Top1031 does not restate targeted or forward-looking rates. The actual terms, funding source and conditions would be described in the Trust's private placement memorandum (PPM).
Is there litigation involving this Trust?
Plaintiff-side law firms have published investor-loss pages referencing APEX South Creek, DST and related Versity Investments litigation, including one dated November 1, 2025. Top1031 did not locate a primary court record — docket, complaint or judgment — naming APEX SOUTH CREEK, DST itself, so no allegation is stated here as fact. Investors should ask the sponsor and their own counsel directly.
How much debt is on the property?
The Form D does not disclose leverage. GrowthSpotter reported on December 23, 2022 that the buyer took a $45.9 million mortgage from Walker & Dunlop in connection with the acquisition of the property, which traded for $100 million on November 18, 2022. Loan maturity, extension options and the current balance are not established in any retrieved public record.
Chapter 9Apex South Creek DST Investigation & Lawsuit UpdateInvestor-loss coverage referencing the Crew-sponsored APEX South Creek DST and related Versity Investments litigation. New Increased Yield Enhancement Feature of 6.5% for Apex South Creek, DSTSponsor announcement raising the stated rent yield enhancement from 4% to 6.5% annually for 24 months. Still-new Orlando luxury apartments trade in 9-figure dealReports the 300-unit APEX South Creek near Lake Nona traded for $100M on Nov 18, 2022 to a Versity/Apex venture.