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 statutory trust — the passive co-ownership structure 1031 exchangers use to hold fractional real estate — and its sole asset is an entitled land parcel in Charlotte's NoDa district.1 The trust uses no debt and ground-leases the land to a master tenant.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: the asset is fully entitled land zoned TOD-CC, a transit-oriented commercial designation, and enrolled in North Carolina's Brownfield program. AltsWire reported that the trust acquired the parcel for $19.44 million.4 S2K Financial's own material distinguishes this trust from direct ownership or development of an apartment complex and states that roughly $1.9 million is committed to horizontal site work — roads, utilities, infrastructure.2
- 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 to a master tenant that is an affiliate of the sponsor — one tenant leases the whole parcel and pays rent to the trust, funding distributions the sponsor says are not guaranteed, with early payments supported by pre-funded reserves.2 The reviewed sources do not name that entity 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 here. S2K Financial describes the offering as having no debt at the DST level, 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 sponsor and S2K/Miller CLT ST LLC in a trustee-related role, and lists Alexander Capital, L.P. and Great Point Capital LLC as the broker-dealers offering the interests to accredited investors — those meeting SEC income or net-worth tests.1 S2K Financial and Miller Global presented the trust as their joint offering.4 Crestline Investors said on October 22, 2025 that it provided predevelopment financing to S2K Asset Management for a Charlotte multifamily project.
- 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?
One Form D and no amendment: the public file still reflects the offering's opening posture, months after the sponsor announced full subscription.3 The exemption relied on permitted public advertising but obliges the sponsor to verify each buyer's accredited status with documentation.
- 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, sold out 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 only update when the issuer files an amendment, so the public record continues to show 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. The trust holds a fully entitled, TOD-CC-zoned parcel in Charlotte's NoDa district with no building on it, ground-leased to a master tenant, and S2K Financial's own page distinguishes this offering from direct ownership or development of an apartment complex. Top1031 pipeline data also notes the parcel's participation in the North Carolina Brownfield program and an expected hold of two to three years.
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. The sponsor states that initial lease payments are supported by pre-funded reserves and that distributions are not guaranteed and may include a return of principal. The reviewed public sources do not name that affiliate, state the lease term, or describe its own capital resources beyond the pre-funding — those points sit in the Private Placement Memorandum, the offering document that sets out terms, fees and risks.
Is there a 721/UPREIT exit?
No. The record shows no 721/UPREIT path — 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. Top1031 pipeline data notes a sponsor call option and an expected hold of two to three years, which points to a sale rather than a REIT rollup.
What is still unknown from public sources?
The identity 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, any development plan committed for this parcel, and the current physical condition of the land are not established in the sources reviewed. Whether the 350-unit NoDa apartment project that broke ground in December 2024 involves this specific parcel is also not established — the reports naming Abacus Capital, Caprock and S2K Management do not name the DST. How S2K/Miller CLT Sponsor LLC relates legally to S2K Financial is likewise unstated. Those details live in the PPM, which the sponsor provides to verified accredited investors.
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.