NuCare-managed assisted living community, Madison
Senior housing property in Madison, WI
Active offeringLatest Form D filed Jul 29, 2025 (opens in a new tab)
NuCare-managed assisted living community, Madison is a DST that owns a senior housing property in Madison, WI (96 beds). Its latest Form D, filed Jul 29, 2025, lists a $5.7 million offering with a $106,611 minimum.
Key facts
- Minimum investment
- $106,611From the Form D
- Offering size
- $5,740,925Equity offered, per the Form D
- Sold so far
- Form D, Jul 29, 2025; the % is our arithmetic95.7%
- Investors reported
- Form D, Jul 29, 202516
- Selling commissions
- Form D Item 15; the % is our arithmetic$344,456 · 6.0% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
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
- Jul 29, 2025 · 1 filing
- First sale
- Jun 12, 2025
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $5,498,544
- Not yet sold
- $242,381
- Investors
- 16
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
95.7% of $5,740,925 sold, calculated by Top1031 from the Form D
- Average since first sale
- about $3.5 million a month
See how much of this offering has soldSign in by email and confirm you’re an accredited investor.
Weighing this offering for your exchange? A licensed 1031 specialist from our affiliated partner can go through these filings with you.
Ask a 1031 specialist about this recordFree. About: NuCare-managed assisted living community, Madison. Top1031 is not a broker-dealer.No photo on record. Madison, WI · no mappable address in the filings.
What does the Trust own?
NAI Legacy described the holding on August 22, 2025 as two assisted-living and memory-care communities in Dane County, Wisconsin, totaling 59,787 square feet. 2 The same release said the sale-leaseback financing facilitated the operator's acquisition of that portfolio. 2 Neither the SEC filing nor the release names the individual buildings, and the reviewed public record does not tie specific NuCare communities to the Trust. Year built, purchase price and occupancy do not appear in the public record.
- Property address
- 6550 Schroeder Rd, Madison, WI
- Property size
- 96 beds (combined); Willow Glen 48 private rooms
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
Mortgage-style debt sits alongside investor equity here, which magnifies both cash flow and downside. NAI Legacy reported delivering $9,000,000 of sale-leaseback financing for the transaction on August 22, 2025, though that release does not establish the figure as the Trust's mortgage balance. 2 The Form D names no lender and states no debt terms. 1
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $344,456 · 6.0% of offering
- Finders’ fees
- $57,410
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Emerson Equity LLC · CRD 130032
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jun 12, 2025
- Minimum investment
- $106,611
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.
Who's behind the Trust?
The only principal named in the Form D is Duane H. Lund, an executive officer and the manager of NuCare Madison Trustee, LLC, the Trust's signatory trustee. 1 NAI Legacy, which reported arranging the portfolio's sale-leaseback financing, is the only real-estate firm publicly tied to the deal. 2 Senior Housing News reported on February 6, 2026 that operator NuCare Senior Living ran 24 properties across Florida, Minnesota and Wisconsin after adding 12 communities in 2025 and was focusing on standardizing operations.
What does the SEC record show?
A single original Form D is the entire filing record here — no amendment and no closing notice had followed it as of September 25, 2026. The Trust may be openly advertised under its placement exemption, but each buyer's accredited-investor status — the income or net-worth test — must be verified rather than self-certified.
- Legal Trust name
- NuCare Madison DST
- SEC CIK
- 2077490
- First Form D
- Jul 29, 2025
- Latest Form D
- Jul 29, 2025
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $5,740,925 | $5,498,544 | 16 | 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 NuCare-managed assisted living community, Madison an active offering?
- NuCare-managed assisted living community, Madison is an Active offering: its latest Form D was filed Jul 29, 2025. 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 this Trust actually own?
- NAI Legacy reported on August 22, 2025 that the portfolio is two assisted-living and memory-care communities in Dane County, Wisconsin — the Madison metro area — totaling 59,787 square feet. Neither that release nor the SEC Form D names the individual buildings, so the specific properties and street addresses are settled only in the offering documents and the closing documents.
- How many beds are there — 96 or 72?
- The two figures measure different things and come from different sources. Confirm the licensed capacity of each building against the offering documents and Wisconsin assisted-living licensing records.
- What are the lease terms?
- NAI Legacy reported on August 22, 2025 that it structured a new 15-year absolute triple-net lease with 2% annual rental increases, naming NuCare Senior Living as operator and lessee. Absolute triple-net means the tenant carries taxes, insurance, maintenance and structural obligations, so the owner's exposure runs to the tenant's credit and operating performance rather than to running the care business. The full lease, including guarantees and renewal options, is in the offering documents.
- Who is the sponsor?
- No sponsor entity is designated in the public filing. The Form D names Duane H. Lund as an executive officer and as manager of NuCare Madison Trustee, LLC, the signatory trustee. NAI Legacy publicly reported arranging the portfolio's sale-leaseback financing in August 2025. Ask the selling representative to identify the sponsor and its role in writing.
- Can investors exit into a REIT?
- The record shows no 721/UPREIT option — the structure in which DST investors contribute the property to a REIT's operating partnership in exchange for OP units. Absent that, the expected exit is a sale of the real estate, with timing and mechanics described in the offering documents.
In the news
Sources
Show sources (4)Hide sources (4)
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.