Bourbon Brothers Retail Properties, DST
Other property in Colorado Springs, CO — sponsor not disclosed
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Bourbon Brothers Retail Properties is a Delaware statutory trust — fractional, passive property ownership that qualifies for 1031-exchange use — holding the land and buildings under two Colorado Springs venues: a Bourbon Brothers Smokehouse & Tavern restaurant and the Phil Long Music Hall event venue. Hospitality Income & Asset conveyed the real estate to the Trust on June 24, 2026, and Venu Holding subsidiaries lease it back.1
Property details are not confirmed yet. The SEC filings below are the current public record.
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These links support the public record as a whole; 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 Trust owns the land and buildings under two Colorado Springs facilities: the Bourbon Brothers Smokehouse & Tavern restaurant, open since April 2017, and an indoor concert venue renamed Phil Long Music Hall at Bourbon Brothers in August 2024.1 An entity that filing calls HIA conveyed the real estate to the Trust on June 24, 2026, in exchange for all of its beneficial interests.1 The trust filing itself gives no street address or square footage.
- Reported location
- Colorado Springs, CO
Who is the tenant, and what's the lease?
Both tenants are Venu Holding Corporation subsidiaries: Bourbon Brothers Smokehouse and Tavern CS runs the restaurant, and Bourbon Brothers Presents, doing business as Phil Long Music Hall, produces concerts at the venue.1 HIA reassigned both leases to the Trust on June 24, 2026; the reviewed record does not state their length or who pays taxes, insurance, and maintenance.1
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $7,303,000
- Still available
- $15,670,656
- Investors reported
- 2
- Total offering
- $22,973,656
How is it financed, and what does it pay?
The Form D states no debt amount.2 Venu Holding Corporation's quarterly filing describes a June 5, 2026 sale-leaseback of the property to a related party, leased back on a 25-year triple-net ground lease — the tenant pays taxes, insurance, and maintenance — funded partly by a bank loan and partly by a note back to the Trust.1
Who's behind it?
Every party in the record traces to Venu Holding Corporation, the Colorado Springs live-entertainment company whose subsidiaries operate both facilities. Bourbon Brothers Retail Properties ST LLC, a wholly owned Venu subsidiary, is the signatory trustee: it holds legal title, manages the Trust's affairs, and may sell trust property, while beneficial holders have no vote and no legal title.1 On August 13, 2026, Venu reported that beneficial interests had been sold since June 30, including to a related party.1
- Sponsor
- Sponsor not disclosedThe filing does not identify a sponsor we can confirm.
- Legal Trust name
- Bourbon Brothers Retail Properties, DST
- May convert to a REIT
- Not stated
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The issuer reported its first sale on July 27, 2026, about four weeks before the notice reached EDGAR, signed by Joel Crank as general counsel.2 The exemption claimed lets the offering be advertised publicly, but interests may go only to accredited investors — those meeting SEC income or net-worth tests — whose status the issuer must verify.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- 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.
Common questions
Is Bourbon Brothers Retail Properties, DST still raising money?
Top1031 lists Bourbon Brothers Retail Properties, DST as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Bourbon Brothers Retail Properties, DST?
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?
Venu Holding Corporation's Form 10-Q for the quarter ended June 30, 2026 states that Bourbon Brothers Retail Properties, DST owns the real estate underlying two Colorado Springs facilities: the Bourbon Brothers Smokehouse & Tavern restaurant, identified as having opened in April 2017, and the indoor concert and event venue that became known as Phil Long Music Hall at Bourbon Brothers in August 2024. The filing gives no street addresses; the operator's own website lists the restaurant at 13021 Bass Pro Drive and the music hall at 13071 Bass Pro Drive, Colorado Springs, which corroborates but does not itself establish the tie to the Trust's assets. No square footage, occupancy figure, or property valuation appears in the reviewed record.
Who pays the rent, and what are the lease terms?
Venu Holding Corporation's Form 10-Q names Bourbon Brothers Smokehouse and Tavern CS as sole owner and operator of the restaurant, and Bourbon Brothers Presents, doing business as Phil Long Music Hall, as sole owner and operator of the venue. HIA reassigned both leases to the Trust on June 24, 2026. The same filing states that beginning July 1, 2026 — subject to all beneficial interests being owned by beneficial holders — annual base rent is $1,213,308 for the restaurant and $693,000 for the venue, each escalating 2% annually beginning July 1, 2027. The filing does not disclose the length of those tenant leases or which party carries taxes, insurance, and maintenance.
What was the June 5, 2026 sale-leaseback?
Venu Holding Corporation's Form 10-Q describes a transaction completed June 5, 2026 in which the property was transferred to a related-party buyer and landlord and leased back under a 25-year triple-net ground lease, meaning the tenant bears taxes, insurance, and maintenance. The filing puts consideration at $49,700,000: a $29,820,000 cash payment financed through a bank loan with the buyer, plus a $19,880,000 note issued by the buyer in favor of the trust, bearing 4.87% annual interest with interest-only payments beginning June 1, 2027 and maturity June 1, 2046, secured by a purchase-money deed of trust. Venu retained a fixed-price option to repurchase the property during the 20 years after closing. The filing's use of the term 'DST Buyer' alongside its statement that this Trust owns the real estate leaves the exact relationship between the two unresolved in the record reviewed.
Who is the sponsor of this DST?
The public record does not name one. The Form D filed August 24, 2026 attributes the offering to no sponsor. The company at the center of the structure is Venu Holding Corporation: its Form 10-Q reports that HIA conveyed the real estate to the Trust on June 24, 2026 in exchange for 100% of the beneficial interests, and that Bourbon Brothers Retail Properties ST LLC, wholly owned by Venu, is the signatory trustee holding legal title with sole authority to manage the Trust and sell its property.
Is the offering still open, and what does it take to invest?
The Trust is raising. One Form D is on record, filed August 24, 2026 under Rule 506(c) — the exemption that permits public advertising of a private placement so long as every purchaser is a verified accredited investor. That filing reports a July 27, 2026 first sale, a $100,000 minimum investment, and $2,000,000 of estimated sales commissions. Progress figures appear in the sales data on this page, and an active status does not confirm that interests remain available.
What rights do investors get in this Trust?
Limited ones, by design. Venu Holding Corporation's Form 10-Q states that Bourbon Brothers Retail Properties ST LLC, a wholly owned Venu subsidiary, is the signatory trustee with sole power to manage the trust's affairs, sell trust property, and hold legal title, and that beneficial-interest holders have no voting rights over the trust's affairs and no legal title to the property. That passivity is characteristic of the DST form and is what allows the interests to be used in a 1031 exchange. The reviewed record does not disclose a planned sale date or a 721/UPREIT exit — a conversion of interests into REIT operating-partnership units.