Top1031

Arbour Commons

Multifamily property in Westminster, CO — sponsor not disclosed

Files with the SEC as CPA Arbour Commons DST

Minimum investment
$50k
Offering size
$96.2M
How much has sold
49.0%
Asset type
Multifamily property
Location
Westminster, CO
Financing
Leveraged. This offering reports mortgage debt on the property.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

CPA Arbour Commons DST is a Delaware statutory trust — passive co-ownership whose interests qualify for 1031 exchange treatment — holding the Arbour Commons apartment community in Westminster, Colorado, north of Denver.7 CORE Pacific Advisors bought the property for $150 million in 2022, its first Denver-metro deal.3 The Trust is still raising equity from accredited investors, and a sponsor affiliate master-leases the property.4

Show sources (17)Hide sources (17)

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.

Chapter 2

What exactly is the property?

The community sits at 663 W. 148th Avenue beside the Orchard Town Center in Westminster, built in 2014 on roughly 28 acres.2 Seller McWhinney sold it to CORE Pacific Advisors for $150 million in a deal brokered by Walker & Dunlop and announced in early October 2022.3 The offering page reports the Trust took title on September 19, 2022.1 The property website describes the community as recently renovated, with a renovated clubhouse open.12

Reported location
Westminster, CO
Property size
394 units (Class A garden-style upscale)
Chapter 3

Who is the tenant, and what's the lease?

Residents hold the individual apartment leases, but the Trust leases the entire property to CP Arbour Commons MT, LLC, a sponsor affiliate, under an initial master-lease term of about ten years with one five-year renewal option.4 CORE Realty Holdings Management, Inc. handles on-site management.9

Chapter 4

How did it end?

What happened

No sale or other ending on record

No full-cycle announcement or disposition naming the CPA Arbour Commons DST (663 W 148th Ave, Westminster, CO) was found; the property continues to appear on the CORE Pacific Advisors website as an actively managed asset, and EDGAR shows no filings beyond the original Form D.

394-unit upscale garden-style community acquired by CORE Pacific Advisors for ~$150M in October 2022 via the CPA Arbour Commons DST; total DST raise ~$170.7M; built in 2014 on ~28.2 acres at 663 W 148th Ave, Westminster, CO 80023.

394 units (Class A garden-style upscale)
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

This is a leveraged Trust: a $74,589,000 Freddie Mac loan arranged through Arbor Agency Lending, LLC sits beneath the equity.5 The offering page reports the loan is nonrecourse to investors, meaning the lender looks to the property rather than to investors personally.5

Chapter 7

What does the paperwork say?

The SEC record here is thin: an original notice at launch, then a single amendment that reported the first sale as October 21, 2022 and updated the offering's progress and related parties.8 It may be offered under a private-placement exemption that permits public advertising, with sales limited to investors whose accredited status is verified.

  1. First Form D filedThe public offering record begins.
  2. Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
Filings on record
2
How it may be offered
Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
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.

Chapter 8

Common questions

What happened to Arbour Commons?

Top1031 lists Arbour Commons as historical. It is no longer raising money.

Where does Top1031 get the data for Arbour Commons?

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 this Trust actually own?

A single asset: Arbour Commons, a 394-unit Class A garden-style apartment community at 663 W. 148th Avenue in Westminster, Colorado, in the north Denver corridor. CORE Pacific Advisors acquired it for $150 million in 2022 from seller McWhinney, in a transaction brokered by Walker & Dunlop. CORE Pacific's asset page says the community was built in 2014 on approximately 28 acres.

Who is the tenant if this is an apartment building?

Two layers. Individual residents sign ordinary apartment leases, and the Trust in turn leases the whole property to CP Arbour Commons MT, LLC — a sponsor affiliate acting as Master Tenant. The Baker 1031 offering page reports the initial master-lease term runs about ten years with one five-year renewal option, and that CORE Realty Holdings Management, Inc. provides on-site management. In this structure investors do not manage or re-lease units.

Is there a mortgage on the property, and could I be personally liable?

Yes, there is debt. The Baker 1031 offering page reports a $74,589,000 Freddie Mac loan placed through Arbor Agency Lending, LLC, and describes it as nonrecourse to investors — meaning the lender's remedy is the property itself, not investors' personal assets. Loan terms, covenants, and any refinancing rights are set out in the Trust's private placement memorandum (PPM), the offering's full disclosure document.

Can I roll out of this into a REIT later?

The record for this Trust does not provide for a 721/UPREIT exit — the mechanism by which some DSTs contribute the property to a REIT in exchange for operating-partnership units. Top1031's data shows no REIT conversion feature here, so an investor's exit path depends on a sale or refinancing of the property as described in the PPM.

Is the offering still open?

The Trust is classified as raising. The most recent issuer filing on record is the Form D amendment dated April 9, 2024; the SEC record shows no later amendment. Separately, a Baker 1031 Investments listing page updated July 13, 2026 displayed the offering with a 'Confirm Availability' status and an availability label that does not reconcile with the April 2024 filing, so current availability has to be confirmed with the sponsor or a broker-dealer.

What isn't in the public record?

Several things a buyer would want. There is no current occupancy figure, no confirmation that the roughly $2.1 million of planned upgrades has been completed or that the rebrand is finished, no updated loan balance or refinance disclosure, and no sale or full-cycle outcome reported. The property website advertises a move-in concession, but it carries no publication date, so it cannot be tied to a specific leasing period.

Chapter 9

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