Is GPI Airport development site an active DST offering?

GPI Airport development site is classified by Top1031 as an active offering. Active does not confirm that interests remain available.

Where does the data for GPI Airport development site come from?

Top1031 tracks GPI Airport development site from SEC Form D filings and cited sponsor disclosures.

GPI Airport development site

Legal trust name Whitefish Park DST

UnattributedRaisingIndustrial

Offering size$2.6M

Asset typeIndustrial

LocationKalispell, MT

FinancingLeveraged

Regulation D exemptionRule 506(b)

Sponsor-reported potential 721/UPREIT exitNo

First filedSep 3, 2025

Last filedSep 3, 2025

Minimum$50k

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.

GPI Airport development site is the marketed name for Whitefish Park DST, a trust sponsored by NAI Legacy on its LPT REIT platform. The underlying asset is a 38.08-acre undeveloped land parcel adjacent to Glacier Park International Airport off Highway 2 East near Kalispell in Flathead County, Montana. The sponsor's stated strategy is to subdivide and sell development pads for hospitality, retail, convenience-store, industrial, and ancillary uses. As raw land, the site has no tenant, lease, or occupancy. Sponsor-stated total capitalization is roughly $5.1 million, including about $2.5 million of senior non-recourse debt.

Sponsor NAI Legacy (Bloomington MN); min $50k; 49% LTV; 6%+ potential cash flow; $6.456M total offering per Essential1031

38.08 acres

Kalispell, MT metroCity-level location. Exact address not publicly confirmed.

Form D raise progress
About Form D raise progress
Top1031 compares the amount reported sold with the stated offering amount in issuer-filed Form D notices through Sep 3, 2025.
Amounts are self-reported by the issuer and may be amended.
Filings can lag current subscriptions and do not confirm that interests remain available.
A Form D notice does not mean the SEC approved, endorsed, or verified the offering.
Latest Form D filed Sep 3, 2025

Based on issuer-filed Form D notices through Sep 3, 2025. Amounts are self-reported, may lag current subscriptions, and do not confirm availability. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

Reported sold as a percentage of stated offering amount51.0%

Not enough filing history for a trend line.

Capital sold, per latest Form D$1,350,745

Remaining amount reported in latest Form D$1,295,370

Investor count reported in latest Form D5

Stated minimum investment$50,000

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SEC filing recordMatched to public SEC filings

First filedSep 3, 2025

Latest filingSep 3, 2025

Filings tracked1

View filing on SEC EDGAR

Form D is an issuer notice filing. A filing does not mean the SEC approved, endorsed, or verified the offering.

Offering profile

SEC filings + cited sourcesUpdated Jul 13, 2026

Property and strategy

GPI Airport development site is the marketed name for Whitefish Park DST, whose underlying asset is a 38.08-acre undeveloped land parcel adjacent to Glacier Park International Airport, off Highway 2 East near Kalispell in Flathead County, Montana. The parcel carries SE Scenic Corridor zoning. The sponsor's stated plan is to subdivide and sell the land as development pads for hospitality, retail, convenience-store, industrial, and ancillary uses. Because it is raw land, the site carries no tenant, lease, or occupancy. ¹

Sponsor

The issuer is sponsored by NAI Legacy, a commercial real estate firm headquartered at 4400 W 78th St, Suite 120, Bloomington, Minnesota, with the offering hosted on the sponsor's LPT REIT platform. ¹

Capital structure

Sponsor-stated total project capitalization is $5,146,115, comprising $2,646,115 of equity plus $2,500,000 of senior non-recourse debt, implying an approximately 48.58% loan-to-value; the lender is not stated. ¹

Offering record

An issuer-filed Form D dated September 3, 2025 reports a total offering amount of $2,646,115, with $1,350,745 reported sold as of that filing. The Top1031 structured record derives an approximately 51% sold figure from that same filing date. These figures reflect the notice as filed and do not establish current availability. ²³

Sources (3)

In the news

Jul 10, 2026Crews complete first phase of Glacier airport runway projectLocal newspaper reported that the monthlong runway rehabilitation at Glacier Park International Airport is ahead of schedule following 88 hours of nonstop work by more than 150 workers, directly affecting the area of the Whitefish Park DST development site.

Daily Inter Lake ↗

Jul 10, 20262026 Runway Rehabilitation — Primary Runway Reopens Ahead of Schedule at 9 a.m. Friday, July 10Operator of Glacier Park International Airport (adjacent to the 38-acre GPI Airport development site that is the Whitefish Park DST's underlying property) confirmed the primary runway reopened July 10, 2026, completing the first of four weekly closures.

Glacier Park International Airport (iflyglacier.com) ↗

Jan 16, 2026Caspian Group, NAI Legacy merge to form NAI Gateway CommercialTwin Cities commercial real estate firms Caspian Group and NAI Legacy combined operations under the new NAI Gateway Commercial name in January 2026, expanding brokerage services across the Upper Midwest.

Minneapolis / St. Paul Business Journal (bizjournals.com) ↗

Frequently asked questions

Is GPI Airport development site currently active?

GPI Airport development site is classified by Top1031 as active. “Active” reflects the latest public record and does not confirm that interests remain available.

Where does Top1031 get the data for GPI Airport development site?

Top1031 tracks this offering from SEC Form D filings and cited sponsor disclosures. Filing data may lag current subscriptions and does not mean the SEC approved or verified the offering.