Top1031

The Hayworth / Hayworth Tanglewood

Multifamily property in Houston, TX · sponsored by Nelson Brothers

HistoricalLast Form D filed Jul 11, 2022 (opens in a new tab)

The Hayworth / Hayworth Tanglewood was a DST sponsored by Nelson Brothers that owned a multifamily property in Houston, TX (246 units). Its last Form D was filed Jul 11, 2022.

How it ended

No outcome recorded · under 7 years

Last Form D filed Jul 11, 2022.

Key facts

A free account shows how much of each active offering has sold and the Sponsor Grade letters.
Minimum investment
Not in the Form D
From the Form D
Offering size
$76,767,365
Equity offered, per the Form D
Sold
Not reported after the first Form D (Jul 11, 2022)
Form D, Jul 11, 2022
Selling commissions
$6,909,063 · 9.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
How it is financed ↓
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.

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 →

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The Hayworth / Hayworth Tanglewood image

The Hayworth / Hayworth Tanglewood · Houston, TX · Photo: crewenterprises.com

What did the Trust own?

The Hayworth is a mid-rise apartment community at 1414 Wood Hollow Drive in Houston, opened in 2017. 3 Thorofare Capital's June 2022 transaction summary reports 434 parking spaces, an average unit of 1,427 square feet, and 92% occupancy at the time of financing, in the Tanglewood neighborhood of the Uptown submarket. 4 The Trust was formed on May 31, 2022 and closed on the purchase a month later. 2

Reported location
Houston, TX
Property size
246 units; approximately 351,002 square feet

How was it financed, and what did it cost to sell?

Leveraged means the property carries mortgage debt alongside investor equity, so the loan is repaid before beneficiaries see anything. Thorofare Capital funded $48 million of fixed-rate acquisition financing in June 2022. 4 The Delaware opinion describes the balance of the $105.5 million purchase as funded by an initial beneficiary contribution of more than $58 million. 2

Debt

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

Costs and terms from the Form D

Selling commissions
$6,909,063 · 9.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$4,747,500 · 6.1% of offering
Form D Item 16
Broker-dealers named in the Form D
None named in the Form D
Date of first sale
Not in the Form D
Minimum investment
Not in the Form D

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. The issuer marked these amounts as an estimate.

What does the SEC record show?

Rule 506(b) means interests were offered privately to accredited investors — people meeting SEC income or net-worth tests — without public advertising. The July 2022 filing was made before any first sale and stated the offering was not intended to last more than one year; no later amendment appears on EDGAR. 1

Legal Trust name
HAYWORTH TANGLEWOOD, DST
SEC CIK
1937120
First Form D
Jul 11, 2022
Latest Form D
Jul 11, 2022
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$76,767,365
$0
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

What happened to The Hayworth / Hayworth Tanglewood?
The Hayworth / Hayworth Tanglewood is a Historical offering. Last Form D filed Jul 11, 2022.
What exactly does Hayworth Tanglewood, DST own?
A single Houston apartment property known as The Hayworth (also marketed as Hayworth Tanglewood) at 1414 Wood Hollow Drive, in the Tanglewood neighborhood of the Uptown submarket. The Delaware Court of Chancery record states the Trust was formed on May 31, 2022 and acquired the property on June 30, 2022 for $105.5 million.
What is the Delaware litigation about?
Hayworth Tanglewood IB, LLC — the initial beneficiary that the court record says once owned 100% of the DST interests — sued the Trust and related parties in the Delaware Court of Chancery. Its complaint sought a declaration that it retained no less than 60% of the interests and contended the signatory trustee facilitated sales without redeeming corresponding interests. On January 15, 2026 the court denied a motion to dismiss or stay and granted counsel's motion to withdraw; the allegations were not decided on the merits.
Have distributions been suspended?
No primary distribution record was located. Investor law firms have published investigation pages saying distributions were paused: Goodman & Nekvasil reported on August 7, 2025 that the last distribution was received on April 16, 2024, and Iorio Law and Soreide Law Group published similar accounts in 2025 and 2026. These are law-firm claims, not filings by the Trust.
Who is the sponsor?
The SEC filing does not name one. The Form D lists Blake Wettengel and Tanya Muro as executive officers and promoters. Secondary sources point elsewhere: the Houston Chronicle and Commercial Observer tied the 2022 acquisition to Versity Invest, and a January 20, 2026 Iorio Law page names Crew Enterprises as sponsor. Neither attribution is confirmed by the primary record.

In the news

The Hayworth TanglewoodThorofare Capital reported funding $48 million of fixed-rate acquisition financing for the 246-unit The Hayworth and said the borrower planned a DST syndication after closing.
Thorofare Capital ↗

Sources

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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.