South Bank
Multifamily property in Richmond, VA — sponsor not disclosed
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
South Bank is a Delaware Statutory Trust — a passive co-ownership vehicle whose interests qualify for 1031 exchange treatment — that acquired an apartment community at 307 Stockton Street in Richmond, Virginia. Its entire public record is two Form D notices filed in 2023, offered under Rule 506(c), the exemption that permits public advertising to verified accredited investors. No sponsor is named in either filing.
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?
The Trust holds South Bank, an apartment community at 307 Stockton Street in Richmond's Manchester district. Mercer Street Partners bought the 150-unit complex for $23 million in a deal that closed in July 2019.2 Before that it was known as Parachute Factory and had changed hands at a foreclosure auction for roughly $6.5 million about three years earlier.2
- Reported location
- Richmond, VA
- Property size
- not publicly stated
Who is the tenant, and what's the lease?
An apartment community has no single tenant: income comes from many residents on short-term leases, so rents and occupancy turn over continuously rather than resting on one corporate credit. The property's leasing website lists GoldOller Management Services as manager.4
How did it end?
Sold
Emerson Equity LLC sponsored trust (Form D Jan 10, 2023 / amendment May 26, 2023, $18.9M) that held 307 Stockton Lane in Richmond, VA's Windsor Farms neighborhood (MLS# 2506628); the property was sold on June 25, 2025 for $2,875,000 (Redfin, napierera.com, MLS records), consistent with the trust going full cycle.
The DST acquired the multifamily property at 307 Stockton St, Richmond, VA (South Bank apartment community). SEC Form D issuer address (7 World Trade Center, New York, NY) corresponds to Cantor Fitzgerald; sponsor identity was not independently confirmed in publicly available news. No direct news coverage of this specific DST offering was located.
not publicly statedHow is it financed, and what does it pay?
Neither Form D notice describes a mortgage, a lender, or an all-cash purchase, so whether this Trust carries debt is not established by the public record. Form D is a short notice filing and does not require capital-structure detail.
Who's behind it?
The Form D notices give the Trust's principal place of business as 7 World Trade Center in New York and name Alex Libin and Joe LeVine as executive officers, each an authorized signatory of the signatory trustee.1 Top1031's enrichment records that this address corresponds to Cantor Fitzgerald, but no public source reviewed confirms which firm sponsored this Trust or marketed it to exchange investors. The property's 2019 buyer, Mercer Street Partners, lists South Bank among its investments.3
- 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 record consists of an original Form D notice and a single later amendment, which restated the same offering terms and reported that the first sale had yet to occur.5 Because the offering relies on the exemption permitting public solicitation, the issuer must verify each investor's accredited status rather than accept the investor's own representation.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- 307 Stockton Fee, DST
- Filings on record
- 2
- 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
What happened to South Bank?
South Bank is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for South Bank?
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 property is behind this Trust?
South Bank, an apartment community at 307 Stockton Street in Richmond, Virginia, in the Manchester neighborhood south of the James River. Richmond BizSense reported it as a 150-unit complex when Mercer Street Partners bought it for $23 million in July 2019, and that it was previously named Parachute Factory. Top1031's pipeline data identifies the Trust as the acquirer of that address; the DST's own purchase date and price are not in the public record.
Who sponsors this DST?
No sponsor is named. The Form D lists the issuer as 307 Stockton Fee, DST, a Delaware entity formed in 2022 with a principal place of business at 7 World Trade Center in New York, and names Alex Libin and Joe LeVine as executive officers and authorized signatories of the signatory trustee. That address corresponds to Cantor Fitzgerald, but the sponsor identity was not independently confirmed in the public sources reviewed.
What is the minimum investment?
The Form D reported a minimum outside-investor investment of $10,000. That is the notice-filing figure only; actual subscription minimums and any adjustments would appear in the private placement memorandum (PPM), the offering document delivered to prospective investors, which is not a public filing.
Is this offering still open?
The public filing history ends with the May 26, 2023 amendment, and no later Form D has been identified. A Form D notice does not establish whether an offering remains open or has been withdrawn, and because no sponsor is named in the filings there is no disclosed party to confirm current status.
Could this Trust roll into a REIT later?
Nothing in the record indicates a planned 721/UPREIT exit — the structure in which a DST's property is contributed to a real estate investment trust's operating partnership in exchange for OP units instead of being sold. For this Trust the public data shows no such conversion path.
What is not knowable from the public record here?
A great deal: the Trust's acquisition price and closing date, any loan or lender, loan-to-value, reserves, occupancy, projected hold period, and distribution terms. None of that appears in a Form D, and no sponsor offering material for this specific Trust was located. Those terms would live in the PPM.