Top1031

BR HPE Zero Coupon, DST

in Sunnyvale, CA

Active offeringLatest Form D filed Oct 20, 2026 (opens in a new tab)

BR HPE Zero Coupon, DST filed its first Form D with the SEC on Oct 20, 2026 for a $69.9 million offering. Its latest Form D, filed Oct 20, 2026, lists a $69.9 million offering with a $100,000 minimum.

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$69,986,627
Equity offered, per the Form D
Sold so far
$0
Form D, Oct 20, 2026
Investors reported
0
Form D, Oct 20, 2026
Selling commissions
$6,053,844 · 8.6% of offering
Form D Item 15; the % is our arithmetic
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 →

Sales so far

Latest Form D
Oct 20, 2026 · 1 filing

These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.

How we work out how much has sold

We divide the amount the sponsor reports sold by the offering size in its latest SEC filing, filed Oct 20, 2026.

  • The sponsor reports these amounts itself, and can amend them later.
  • A filing can be behind what has actually sold. It does not confirm that interests are still available.
  • The amount left to sell is the offering size minus the amount sold.
Amount sold
$0
Not yet sold
$69,986,627
Investors
0
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Ask a 1031 specialist about this recordFree. About: BR HPE Zero Coupon, DST. Top1031 is not a broker-dealer.
City-level mapSunnyvale, CA metroMap shows the city, not the exact address.

No photo on record.

What does BR HPE Zero Coupon, DST own?

Bluerock Homes Trust reported in a September 2, 2026 filing that the Trust acquired a 340,496-square-foot, eight-story Class A office and laboratory facility in Northern California for $330,777,000 through a sale-leaseback, a deal in which the seller remains in the building as the tenant. 1

Reported location
Sunnyvale, CA

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

This is a zero cash flow structure: rent is sized to cover the loan payments, so the building produces little or no cash after debt service. A senior credit-tenant-lease loan of $309,980,618 funded most of the purchase. 1

Costs and terms from the Form D

Selling commissions
$6,053,844 · 8.6% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$42,436,402 · 60.6% of offering
Form D Item 16
· The filing’s note: “The Sponsor is entitled to Organization and Offering Expenses of $559,893 + Other Closing Costs of $13,627,808 + Loan Related Costs of $11,709,851. The Manager will receive an Acquisition Fee of $16,538,850.”
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Minimum investment
$100,000

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.

What does the SEC record show?

It also lists a $16,538,850 acquisition fee to the manager. 2

Legal Trust name
BR HPE Zero Coupon, DST
SEC CIK
2161004
First Form D
Oct 20, 2026
Latest Form D
Oct 20, 2026
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 sold
Form D$69,986,627
$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

Is BR HPE Zero Coupon, DST an active offering?
BR HPE Zero Coupon, DST is an Active offering: its latest Form D was filed Oct 20, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
What does BR HPE Zero Coupon, DST own?
It owns a 340,496-square-foot, eight-story Class A office and laboratory facility in Northern California. Bluerock Homes Trust's September 2, 2026 Form 8-K says the building was acquired through a sale-leaseback for $330,777,000, a figure that includes the loan used to buy it.
What does "zero coupon" mean in this Trust's name?
It points to a zero cash flow structure, where the rent is sized to cover the mortgage payments. After debt service, the property generates little or no cash. Investors in this kind of deal are generally using the large loan balance to match debt from a prior sale in a 1031 exchange.
Who pays the rent?
A single tenant under a 20.5-year bondable true lease guaranteed by an investment-grade technology company, according to Bluerock Homes Trust's September 2, 2026 Form 8-K. Bondable means the tenant pays rent without offsets or abatements and covers taxes, insurance and maintenance.
How was the purchase financed?
Mainly with a senior, zero-net-cash-flow credit-tenant-lease loan of $309,980,618, called the Senior A-1 Note in Bluerock Homes Trust's September 2, 2026 Form 8-K. That filing also reports about $6,538,805 of common equity from Bluerock Asset Management, LLC, and says Bluerock Homes Trust gave a non-recourse carveout guaranty and a hazardous-materials indemnity on the senior note.
Who sponsors and manages the Trust?
The October 20, 2026 Form D names BR HPE ZC Investment Co, LLC as sponsor and depositor, and BR HPE CTL DST Manager, LLC as manager. Bluerock Homes Trust, Inc. lent the depositor $33,088,000 on August 27, 2026 against a pledge of its Class II interests in the Trust.
What is the minimum investment?
The Form D filed October 20, 2026 reports a $100,000 minimum accepted from an outside investor.

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.