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Liberty Square Bldg

Office property in Liberty Lake, WA

HistoricalLast Form D filed Oct 11, 2022 (opens in a new tab)

Liberty Square Bldg was a DST that owned an office property in Liberty Lake, WA (32,947 SF). Its last Form D was filed Oct 11, 2022.

How it ended

No outcome recorded · under 7 years

Last Form D filed Oct 11, 2022.

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$3,445,245
Equity offered, per the Form D
Sold
Not reported after the first Form D (Oct 11, 2022)
Form D, Oct 11, 2022
Selling commissions
$0 · 0.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
How it is financed ↓
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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Liberty Square Bldg. Top1031 is not a broker-dealer.

What did Liberty Square Bldg own?

The trust was formed in August 2022 for a single purpose: acquiring the commercial property at 1421 North Meadowwood Lane in Liberty Lake, Washington. 1 The building dates to 2001, rises two to three stories and sits inside the Meadowwood Technology Campus; listings disagree on whether it is Class A or Class B. Spokane County's parcel record, stated current as of August 7, 2026, names the trust as owner. 2

Reported location
Liberty Lake, WA
Property size
32,947 SF

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

Nothing in the public record states whether the property carries mortgage debt, so the leverage structure here is simply unknown rather than confirmed all-cash.

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.

Costs and terms from the Form D

Selling commissions
$0 · 0.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$117,512 · 3.4% of offering
Form D Item 16
Broker-dealers named in the Form D
None named in the Form D
Date of first sale
Not in the Form D
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?

One Form D, never amended, is the trust's entire SEC record. It claimed Rule 506(b) — the private-placement exemption that bars public advertising and generally limits sales to investors the sponsor already knew. The Washington order states the trust also filed with the state Securities Division on December 8, 2022. 1

Legal Trust name
1421 Meadow Wood DST
SEC CIK
1948830
First Form D
Oct 11, 2022
Latest Form D
Oct 11, 2022
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$3,445,245
$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

What happened to Liberty Square Bldg?
Liberty Square Bldg is a Historical offering. Last Form D filed Oct 11, 2022.
What does this Trust actually own?
A single office property at 1421 North Meadowwood Lane in Liberty Lake, Washington, known as the Liberty Square Building. The Washington Department of Financial Institutions describes 1421 Meadow Wood, DST as a Delaware statutory trust formed August 17, 2022 whose business is acquiring that commercial property, and Spokane County's parcel record for 55156.9156 names the trust as owner, stated current as of August 7, 2026. The building was completed in 2001 and sits within the Meadowwood Technology Campus.
Who is the sponsor? The filing doesn't say.
The Form D filed on October 11, 2022 does not disclose a sponsor. Washington's Department of Financial Institutions identifies Equilus Capital Partners, LLC as the fund sponsor and Equilus Group, Inc. as the investment adviser, and states that the adviser acts as de facto manager across five real-estate funds, this trust among them. Top1031 lists the sponsor field as undisclosed because the SEC filing itself names no sponsor.
What is the Washington regulatory action about?
On April 10, 2026 the Washington Department of Financial Institutions entered a Summary Order and Statement of Charges naming 1421 Meadow Wood DST among the respondents, alleging securities-registration and anti-fraud violations. The department's April 27, 2026 release says the Equilus funds, including this trust, were not registered in Washington and describes allegations including misappropriation, Ponzi-like payments, false account statements and unregistered broker-dealer activity. These are allegations in a pending administrative matter; respondents may request a hearing, and no final disposition appears in the record.
Who occupies the building, and what does the lease look like?
Neither the trust's SEC filing nor the Washington regulatory record identifies a tenant, states occupancy, or sets out lease terms. An investor evaluating this record would have no publicly filed lease information to work from and would need the offering documents and current rent roll to answer the question.
Could this Trust roll into a REIT later?
Nothing in the public record indicates a 721/UPREIT exit, the structure in which a DST's property is contributed to a REIT's operating partnership in exchange for partnership units. Top1031's record shows no such conversion feature for this trust.

Sources

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These links support the record as a whole; individual details may come from different sources.

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.