NuCare-managed assisted living community, Madison
Senior housing (assisted living / memory care) property in Madison, WI — sponsor not disclosed
Sponsor NAI Legacy (Duane Lund); min $106.6k; $5.50M/$5.74M sold (7/2025); NuCare Madison WI sites: Willow Glen, Hatties Glen
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These links support the public record as a whole; individual details may come from different sources.
What is this, in one paragraph?
NuCare Madison DST is a Delaware statutory trust — a passive co-ownership vehicle whose interests can serve as like-kind replacement property in a 1031 exchange — holding assisted-living and memory-care real estate in Dane County, Wisconsin.1 NuCare Senior Living operates the communities as tenant under a sale-leaseback NAI Legacy reported on August 22, 2025.2 The Trust carries mortgage debt and has not reported closing its raise.
Minimum investment
$107k
Offering size
$5.7M
How much has sold
96.0%
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited 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?
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 Neither the SEC filing nor that release names the individual buildings, so the public record stops at portfolio level. NuCare Senior Living's own directory lists two Madison communities, Willow Glen and Hattie's Glen, but neither is publicly identified as a Trust property.
- Reported location
- Madison, WI
- Property size
- 96 beds (combined); Willow Glen 48 private rooms
Who is the tenant, and what's the lease?
The operator, NuCare Senior Living, is also the tenant.2 NAI Legacy reported the August 2025 transaction was structured as a sale-leaseback on a new 15-year absolute triple-net lease with 2% annual rent increases — meaning the tenant, not the Trust, carries taxes, insurance and maintenance.2
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.
96.0% reported sold
- Amount sold
- $5,498,544
- Reported unsold
- $242,381
- Investors reported
- 16
- Total offering
- $5,740,925
Not enough filings yet to show a trend.
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How is it financed, and what does it pay?
Borrowed money 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 portfolio on August 22, 2025; the Form D names no lender.2
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
The Form D names Duane H. Lund as an executive officer and as 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, after doubling its portfolio in 2025, was turning its focus to operations and would not expand into new states too quickly.
- Sponsor
- Sponsor not disclosedThe filing does not identify a sponsor we can confirm.
- May convert to a REIT
- No
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Form D reports June 12, 2025 as the date of first sale.1 The SEC submissions record showed no later amendment as of September 3, 2026.3 It is offered under a private-placement exemption that permits public advertising, but each buyer's accredited-investor status — the income or net-worth test — must be verified with documents rather than self-certified.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- NuCare Madison DST
- 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 NuCare-managed assisted living community, Madison still raising money?
Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.
Where does Top1031 get the data for NuCare-managed assisted living community, Madison?
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.
What does this Trust actually own?
NAI Legacy reported on August 22, 2025 that the portfolio consists of 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 filing names the individual buildings, so the specific addresses are settled only in the PPM — the private placement memorandum — and the closing documents.
Who is the tenant, and what is an absolute NNN lease?
NAI Legacy identified NuCare Senior Living as operator and lessee. In an absolute triple-net lease, the tenant pays rent plus taxes, insurance, and all maintenance and capital repairs, so the landlord's exposure runs to tenant credit and operating performance rather than building costs. NAI Legacy reported a new 15-year lease with 2% annual rent increases.
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.
How many beds does the portfolio have?
The sources disagree. NAI Legacy's August 22, 2025 release describes 72 licensed beds across the two Dane County communities, while the listing data on this page reports 96 beds combined. Treat the bed count as unsettled in the public record and confirm it against the PPM and Wisconsin license records.
Is this offering still open?
The Form D filed July 29, 2025 is the only filing on record, and it reported a portion of the offering still unsold. Those figures are historical as of that filing date and are not proof of current availability; the amounts appear in the sales data on this page. As of September 3, 2026, no later amendment or closing filing has been located.
Can investors exit into a REIT?
The record shows no 721/UPREIT option — a 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 PPM.
Chapter 9Wisconsin - Senior Living FacilitiesNuCare Senior Living directory lists two Madison, WI communities (Willow Glen and Hattie's Glen) but contains no dated DST-offering or subscription news within the 2026-07-30 to 2026-08-03 window. NuCare Cottages of Madison - Hattie's GlenOperator page for Hattie's Glen community, 6550 Schroeder Road, Madison WI. NAI Legacy Delivers $9M Sale-Leaseback Financing for Senior Housing OperatorNAI Legacy closed $9M sale-leaseback financing for a two-property assisted living/memory care portfolio in Dane County, WI (the NuCare Madison DST); Willow Glen at 5555 Burke Rd has 48 private rooms across three 16-resident cottage buildings.