Top1031

One on 4th

Student housing property in Stillwater, OK — sponsor not disclosed

Files with the SEC as ONE ON 4TH, DST

Minimum investment
Not stated
Offering size
$30.9M
How much has sold
None sold yet
Asset type
Student housing property
Location
Stillwater, OK
Financing
Leveraged. This offering reports mortgage debt on the property.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

One on 4th, DST is a Delaware statutory trust that owns a Class A mid-rise student-housing community in Stillwater, Oklahoma, near Oklahoma State University.1 It filed a single Form D in August 2022 to sell interests to accredited investors under Rule 506(b), the private-placement rule that bars general advertising. In April 2026 a New York court kept the trust in a case against Versity Invest.5

Show sources (13)Hide sources (13)

These links support the historical public record; 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.

Chapter 2

What exactly is the property?

Multi-Housing News reported the community as a 475-bed, 190,472-square-foot student-housing asset sold by Greystar.2 A Versity Invest Form 1-A filed with the SEC describes it as a Class A mid-rise community and states the trust, formed July 20, 2022, acquired it on July 27, 2022 for $50,625,000.1 Berkadia materials and later law-firm write-ups put the 2022 price at roughly $52 million; the SEC figure is used here.

Property address
713 West 4th Avenue, Stillwater, OK
Property size
Furnished studio, 1-, 2-, and 4-bedroom apartments; total unit/bed count not publicly stated
Chapter 3

Who is the tenant, and what's the lease?

The trust does not rent to students directly. Versity Invest's SEC filing states that One on 4th, DST leases the property to One on 4th LeaseCo, LLC, a master tenant formed July 21, 2022 that in turn subleases apartments to residents.1 That master-lease layer sits between the trust and short-term student leases.

Chapter 4

How did it end?

What happened

Foreclosed

Fannie Mae initiated formal foreclosure proceedings against ONE ON 4TH, DST (713 W 4th Avenue, Stillwater, OK) as one of 8 Vesta-run apartment complexes in Oklahoma on March 25, 2026, following a notice of default issued in November 2024 and the cessation of monthly investor distributions in April 2024.

The official property site identifies One on 4th as furnished off-campus student apartments near Oklahoma State University with studio, 1-, 2-, and 4-bedroom floor plans; Berkadia identifies Versity Invest, LLC, and the 2022 acquisition price was approximately $52 million. Total unit/bed/square-foot count was not publicly stated.

Furnished studio, 1-, 2-, and 4-bedroom apartments; total unit/bed count not publicly stated
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

Berkadia announced $27.5 million of permanent acquisition financing that closed July 27, 2022 with the purchase, naming Versity Invest as borrower.3 The loan runs seven years, with the first five years interest-only — meaning no principal is repaid until year six.3

Financing
Leveraged. This offering reports mortgage debt on the property.
Chapter 7

What does the paperwork say?

A single Form D, never amended, is this trust's entire SEC record, offered under Rule 506(b), which allows sales to accredited investors without general solicitation. A later Versity Invest Form 1-A reported that 20.2687% of the trust's beneficial interests remained available as of June 30, 2023, so the 2022 filing does not reflect subsequent activity.1

  1. Form D filedFirst and latest filing on record.
Filings on record
1
How it may be offered
Rule 506(b)Not advertised publicly. Offered through existing relationships.
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.

Chapter 8

Common questions

What happened to One on 4th?

Top1031 lists One on 4th as historical. It is no longer raising money.

Where does Top1031 get the data for One on 4th?

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 One on 4th, DST actually own?

A student-housing community at 713 West 4th Avenue in Stillwater, Oklahoma, near Oklahoma State University. Versity Invest's SEC Form 1-A describes it as a Class A mid-rise community acquired July 27, 2022 for $50,625,000, and Multi-Housing News reported it as a 475-bed, 190,472-square-foot property sold by Greystar. The property's own site lists furnished studio, one-, two-, and four-bedroom floor plans.

Who is the sponsor? The record says the sponsor is not disclosed.

The Form D itself names no sponsor company — only Blake Wettengel and Tanya Muro as officers and promoters, each described as a manager of the manager of the trust's signatory trustee. Related records tie the deal to Versity Invest, LLC: Berkadia identified Versity as borrower on the acquisition loan, and Versity's SEC Form 1-A reported owning 47.04% of the trust as of December 31, 2022.

Is the SEC data on this offering current?

No. Only one Form D was ever filed, on August 17, 2022, and no amendment appears in the SEC index. Sponsors are expected to amend annually while an offering continues, so figures on the original filing can be stale. A Versity Invest Form 1-A separately reported that 20.2687% of the trust's beneficial interests remained available as of June 30, 2023.

What is the master-lease structure, and why does it matter?

A Delaware statutory trust cannot actively operate a business, so the trust leases the whole property to a master tenant — here One on 4th LeaseCo, LLC, formed July 21, 2022 — which signs the individual student leases and subleases the units. Investors own beneficial interests in the trust; what reaches them depends on rent paid up through that master tenant.

What litigation involves this trust?

In KHCA Funding LLC v. Versity Invest, LLC, the Supreme Court of New York County issued a decision on April 10, 2026 that treated One on 4th, DST as one of the DST Defendants, denied dismissal for lack of personal jurisdiction, dismissed certain causes of action, and let the rest of the case proceed. Plaintiffs' allegations about misuse of DST syndication proceeds are allegations only; the decision adjudicated no liability.

Why are law firms publishing pages about One on 4th?

Several plaintiff-side securities firms have posted investor investigations: The White Law Group on December 1, 2025, Iorio Law PLLC on March 12, 2026, and Rosenberger Law on May 20, 2026, whose post discussed halted DST distributions and possible FINRA arbitration claims. These are law-firm marketing pages, not regulatory findings or court rulings.

Chapter 9

In the news