The Hayworth / Hayworth Tanglewood
Multifamily property in Houston, TX — sponsor not disclosed
Show sources (15)Hide sources (15)
These links support the historical public record; individual details may come from different sources.
- U.S. Securities and Exchange Commission, Form D ↗
- Delaware Court of Chancery, Hayworth Tanglewood IB, LLC v. Hayworth Tanglewood, DST, C.A. No. 2025-0748-SEM ↗
- Crew Enterprises ↗
- Thorofare Capital ↗
- Iorio Law PLLC ↗
- Goodman & Nekvasil, P.A. / Rights for Investors ↗
- crewenterprises.com ↗
- hayworthtanglewood.com ↗
- thorofarecapital.com ↗
- houstonchronicle.com ↗
- rightsforinvestors.com ↗
- securitieslawyer.com ↗
- law.justia.com ↗
- iorio.law ↗
- whitesecuritieslaw.com ↗
What is this, in one paragraph?
Hayworth Tanglewood, DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional real estate — formed on May 31, 2022 to own The Hayworth, a 2017-built apartment community in Houston.2 It bought the property on June 30, 2022 for $105.5 million.2 The Trust is now a defendant in Delaware Court of Chancery litigation brought by its initial beneficiary.2
Minimum investment
Not stated
Offering size
$76.8M
How much has sold
None sold yet
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?
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
Who is the tenant, and what's the lease?
The Trust does not run the apartments itself. A Master Lease Agreement executed on June 30, 2022 made the DST the landlord and a master tenant entity the tenant, so the operator collects resident rents and pays the Trust under the lease.2 The court record does not name that master tenant.
How did it end?
Still operating
The January 15, 2026 Delaware Court of Chancery opinion states Hayworth Tanglewood DST acquired the property on June 30, 2022, listed it around May 8, 2025, and as of January 15, 2026 no offer was under consideration and no completed sale or foreclosure occurred [1][2][3].
Crew Enterprises markets the property as Hayworth Tanglewood, while the resident-facing site calls it The Hayworth. Public sources describe a 246-unit Class A/mid-rise multifamily property; Thorofare and the Houston Chronicle report approximately 351,002 square feet. The 2022 acquisition price was $105.5 million, the loan was $48 million, and Iorio Law reports a July 27, 2022 offering date and $124,767,365 total offering price. Later coverage reports suspended distributions and allegations/litigation; no located article states that the offering was fully subscribed, sold out, or closed.
246 units; approximately 351,002 square feetSupporting evidence
Counted on the sponsor’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
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
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
The Form D names no sponsor; it lists Blake Wettengel and Tanya Muro as executive officers and promoters, each described as a manager of the manager of the Trust's signatory trustee.1 A January 20, 2026 Iorio Law investigation page identifies Crew Enterprises as sponsor, an identification the SEC record does not establish.5 Goodman & Nekvasil reported on August 7, 2025 that the last distribution was received on April 16, 2024 and that distributions remained paused.6
- 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?
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
- Form D filedFirst and latest filing on record.
- Legal Trust name
- HAYWORTH TANGLEWOOD, DST
- Filings on record
- 1
- How it may be offered
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- 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 The Hayworth / Hayworth Tanglewood?
The Hayworth / Hayworth Tanglewood 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 The Hayworth / Hayworth Tanglewood?
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 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.
Is this Trust still raising money from investors?
The only Form D on record was filed July 11, 2022 under Rule 506(b), before the offering's first sale, and it stated the offering was not intended to last more than one year. No amendment appears on EDGAR, and no located source states that the offering was fully subscribed, sold out, or formally closed. Treat current offering status as unresolved.
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.
Has the property been sold?
No completed sale is established in any reviewed source. The January 15, 2026 Chancery opinion recites the plaintiff's allegation that the property was listed for sale on or about May 8, 2025 with at least three best-and-final offers submitted by May 29, 2025, and also recites an affidavit from the signatory trustee's owner stating that no offer was then under consideration and a sale might be years away.
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.
Chapter 9Hayworth Tanglewood DST Lawsuit: Help for InvestorsThe White Law Group discussed a lawsuit concerning the Hayworth Tanglewood DST and reported that a plaintiff contributed more than $58 million in equity toward the 2022 Houston acquisition. Hayworth Tanglewood IB, LLC v. Hayworth Tanglewood, DST, et al.The posted Chancery decision states that Hayworth Tanglewood, DST was formed May 31, 2022 to acquire The Hayworth and purchased it on June 30, 2022 for $105.5 million. Hayworth Tanglewood DST Investor AlertSoreide Law Group reported alleged troubling developments including suspended distributions, debt-service pressure, and preferred-equity litigation concerning the DST. HAYWORTH TANGLEWOOD, DST Investigation UPDATEGoodman & Nekvasil reported that the last distribution was received on April 16, 2024 and described paused distributions, arbitration claims, and litigation allegations involving the investment. Real estate transactions: Luxe apartments in Tanglewood change handsThe Houston Chronicle reported that Versity Invest acquired the 246-unit, 351,002-square-foot Hayworth at 1414 Wood Hollow Drive and that Thorofare provided a $48 million loan. 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.