NoDa entitled land parcel
Entitled land (TOD-CC zoned, master-leased; NoDa submarket) property in Charlotte, NC — sponsor not disclosed
Files with the SEC as S2K/Miller CLT DST
Sponsor not disclosed
Minimum investment
$100k
Offering size
$23.0M
How much has sold
None sold yet
Asset type
Entitled land (TOD-CC zoned, master-leased; NoDa submarket) property
Location
Charlotte, NC
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
S2K/Miller CLT DST is a Delaware business trust — the passive co-ownership vehicle 1031 exchangers use to hold fractional real estate — whose only asset is land, not a building.1 Sponsor material describes a fully entitled, TOD-CC-zoned parcel in Charlotte's NoDa district, owned by the trust and ground-leased to a sponsor affiliate.2 S2K Financial announced on July 1, 2026 that the offering was fully subscribed and closed to new investors.3
Min $100k; no DST-level debt; 7%/yr master lease (pre-funded reserves); NC Brownfield; sponsor call option, 2-3yr hold
Show sources (7)Hide sources (7)
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?
There is no building here. Sponsor material describes the parcel as fully entitled and zoned TOD-CC, a transit-oriented commercial designation, with roughly $1.9 million committed to horizontal site work — roads, utilities and essential infrastructure.2 Top1031 pipeline data records the site's participation in North Carolina's Brownfield program. AltsWire reported that the trust acquired the site for $19.44 million; the reviewed sources do not establish a closing date.4
- Property address
- 4109 Greensboro St, Charlotte, NC
- Property size
- 4.8 acres
Who is the tenant, and what's the lease?
Sponsor material describes a long-term ground lease of the whole parcel to a master tenant that is an affiliate of the sponsor, with the lease payments funding monthly distributions to investors.2 Reviewed sources do not name that tenant or state the lease term.
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.
The sponsor reported this offering sold out without filing per-sale amendments, so there is no raise history to show.
How is it financed, and what does it pay?
The trust borrows nothing itself — no mortgage, no lender, no maturity to refinance — so an exchanger carrying replacement-debt requirements from a relinquished sale will not find leverage at this level. S2K Financial states there is no debt at the DST, with debt held above the trust.2
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
The Form D names S2K/Miller CLT Sponsor LLC as promoter and S2K/Miller CLT ST LLC as sponsor, and identifies Neil Cohen as general counsel of the signatory trustee.1 S2K Financial and Miller Global presented the trust as their joint unlevered Charlotte land offering. Crestline Investors said on October 22, 2025 that it had provided predevelopment financing to S2K Asset Management for a Charlotte multifamily project combining residential units with ground-floor retail.
- Sponsor
- Sponsor not disclosedThe filing does not identify a sponsor we can confirm.
- Legal Trust name
- S2K/Miller CLT DST
- May convert to a REIT
- No
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The exemption relied on let the sponsor advertise the offering publicly, but obliged it to verify each buyer's accredited status with documentation rather than take the buyer's word. The file has never been amended, so it still reflects the offering's opening posture months after the sponsor announced full subscription.3
- 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 NoDa entitled land parcel still raising money?
Top1031 lists NoDa entitled land parcel 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 NoDa entitled land parcel?
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.
Can I still invest in this Trust?
No. S2K Financial announced on July 1, 2026 that the S2K/Miller CLT DST was fully subscribed and closed to new investment, and AltsWire reported the same close on July 27, 2026. DST interests are not exchange-traded, so once an offering closes there is generally no ready secondary market. Top1031 pipeline data records a $100,000 minimum investment for the offering while it was open.
Why does the SEC record still look like the offering just opened?
Because the trust filed a single Form D — the brief notice an issuer files for a private placement — on October 1, 2025 and never amended it. Form D sales figures update only when the issuer files an amendment, so the public record continues to reflect the day the offering opened rather than the sponsor's July 1, 2026 full-subscription announcement.
What does an investor actually own here — land or a building?
Land. Sponsor material describes a fully entitled, TOD-CC-zoned parcel in Charlotte's NoDa district with no building on it, owned by the trust and leased out under a long-term ground lease. The sponsor states the DST does not give investors direct ownership of, or participation in, the adjacent apartment complex or any future vertical development on the site — the trust owns the land interest and leases it.
Who pays the rent behind distributions?
A master tenant under a long-term ground lease, which S2K Financial describes as an affiliate of the sponsor, with the lease proceeds used for monthly distributions. Top1031 pipeline data notes the master lease is pre-funded through reserves. The reviewed public sources do not name that affiliate, state the lease term, or describe its capital resources beyond the pre-funding — those points sit in the Private Placement Memorandum, the offering document that sets out terms, fees and risks.
How is this Trust expected to end?
S2K Financial states an expected term of two to three years and says the sponsor keeps a right to repurchase the land at then-current fair market value. There is no 721/UPREIT path on the record — the structure in which DST interests are contributed to a REIT's operating partnership in exchange for OP units — and the trust is flagged as not converting to a REIT, which points to a sale or sponsor repurchase rather than a REIT rollup. No completed outcome has been reported.
What is still unknown from public sources?
The legal name of the sponsor-affiliated master tenant, the lease term and renewal structure, the acquisition closing date and seller, the size of the pre-funded reserves, and any committed development plan for this specific parcel are not established in the sources reviewed. Whether the 350-unit NoDa apartment project that broke ground in December 2024 involves this parcel is likewise unestablished; the reports naming Abacus Capital, CapRock and S2K Management do not identify the DST.
Chapter 9S2K/Miller Fully Subscribes $23 Million Charlotte Land DST OfferingS2K Financial and Miller Global said their unlevered S2K/Miller CLT DST, which holds a 4.8-acre NoDa land parcel, closed to new investment after fully subscribing its $23 million offering. Atlanta developer moves forward with next phase of NoDa projectThird Urban's The Pass phase three development advances at 4100 Raleigh St. in Charlotte's NoDa neighborhood near the 36th Street light rail station, a $30M project adding 53,000 sf of creative office and 27,000 sf of retail in the same submarket as the S2K/Miller CLT DST NoDa parcel.