The Quarters at Lawrence
Student housing (University of Kansas) property in Lawrence, KS — sponsor not disclosed
Files with the SEC as BT Lawrence Student Housing DST
Sponsor not disclosed
Minimum investment
$100k
Offering size
$26.5M
How much has sold
1.0%
Asset type
Student housing (University of Kansas) property
Location
Lawrence, KS
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
The Quarters at Lawrence is an off-campus student housing community serving the University of Kansas, held in a Delaware statutory trust (DST) — the structure that lets 1031 exchange investors own real estate passively.1 The Trust is raising. Its only SEC filing, a Form D dated September 2, 2025, reports a $26,500,000 offering to accredited investors, those meeting SEC income or net-worth tests.2
LTV 49.6% (47.5% w/res), min $100k, 100% occ AY25-26, Y1 dist 4.30%, cap 6.0%, $43.5M purchase; mgr Tailwind Group
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These links support the public record as a whole; 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.
What exactly is the property?
The buildings went up in 2003, and the community operated for years as Legends Place, off-campus housing for University of Kansas students.1 Tailwind Group bought it from ApexOne Investment Partners in mid-April 2023.3 Tailwind rebranded the property The Quarters at Lawrence that June.1 Multi-Housing News reported the purchase as one of two Kansas student-housing acquisitions Tailwind closed that spring.4
- Property address
- 4101 W 24th Pl, Lawrence, KS
- Property size
- 200 units / 632 beds
Who is the tenant, and what's the lease?
There is no single corporate tenant here; income comes from student residents leasing on the academic-year cycle. Sponsor material identifies a Baker Tilly entity as master tenant under a master lease, with variable costs such as real-estate taxes, insurance and utilities borne by the master tenant rather than the Trust.5
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.
1.0% reported sold
- Amount sold
- $350,000
- Still available
- $26,150,000
- Investors reported
- 2
- Total offering
- $26,500,000
Not enough filings yet to show a trend.
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How is it financed, and what does it pay?
Leveraged means mortgage debt sits on the property alongside investor equity: the lender is paid before investors, and the loan's maturity sets the outer bound on when a refinancing or a sale must happen. No lender, loan balance or maturity date appears in the sources reviewed.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Baker Tilly is an accounting and advisory firm whose wholly owned subsidiary, BT REI Manager, LLC, sponsors Delaware statutory trust offerings.6 The attribution of this Trust to that program rests on sponsor and directory material rather than on the SEC filing, which names BT Lawrence Student Housing Manager, LLC and BT Lawrence Student Housing Depositor, LLC as promoters and no sponsor at all.2 Tailwind Group, which bought and renamed the property in 2023, manages it day to day.1
- Sponsor
- Sponsor not disclosedThe filing does not identify a sponsor we can confirm.
- Legal Trust name
- BT Lawrence Student Housing DST
- May convert to a REIT
- No
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The exemption cited in the notice permits public advertising of the offering; in exchange, the sponsor must verify each investor's accredited status rather than accept self-certification. The notice reports a first sale on August 27, 2025, days before it reached EDGAR.2
- Form D filedFirst and latest filing on record.
- 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 The Quarters at Lawrence still raising money?
Top1031 lists The Quarters at Lawrence as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for The Quarters at Lawrence?
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 does this Trust own?
The Quarters at Lawrence, a student housing community at 4101 W 24th Pl, Lawrence, Kansas, serving the University of Kansas and listed by Tailwind Group at 200 units and 632 beds in buildings dating to 2003. It formerly operated as Legends Place; Tailwind acquired it from ApexOne Investment Partners in mid-April 2023 and rebranded it that June. Sponsor-reported listing data compiled by AltsWire puts the real-estate purchase price behind the Trust at $43,500,000.
Who runs the property day to day?
Tailwind Group, the student housing owner-operator that acquired the asset in 2023, is identified as the property manager. DST investors are passive by design: they cannot direct leasing, operations, refinancing or the timing of a sale. Those decisions sit with the trustee, the manager and the sponsor under the trust agreement — the PPM, or private placement memorandum, sets out who holds which power.
Is the Trust still raising money?
The Trust is in its raising stage. The Form D filed September 2, 2025 is still the only filing on record for the entity; it reports a $26,500,000 offering and August 27, 2025 as the date of first sale, and listing data shows a $100,000 minimum investment. The amounts in a Form D are a snapshot as of the filing date, not a current balance, and a directory listing showing an offering as open is not confirmation that interests remain available — that has to be confirmed with the sponsor or your representative.
What is specific to student housing as an asset here?
Income tracks the University of Kansas academic calendar rather than a long corporate lease, so the rent roll turns over on a school-year cycle and each pre-leasing season resets revenue. Sponsor material reports 100% occupancy for the 2025-26 academic year; that is a sponsor statement, not an audited figure, and it says nothing about later years.
How much debt is on the property?
The Trust is leveraged, meaning mortgage debt sits alongside investor equity and the lender is repaid ahead of investors. Sponsor-reported listing data compiled by AltsWire puts loan-to-purchase-price leverage at 49.57%, or 47.45% counting reserves. No lender, loan balance, interest rate or maturity date is named in the sources reviewed; those terms would appear in the PPM, the private placement memorandum that governs the offering.
Can this Trust convert into a REIT?
The data shows no 721/UPREIT exit path — the arrangement in which a DST's property is contributed to a REIT's operating partnership in exchange for units, deferring tax but ending 1031 eligibility. Any exit route, including a straight sale of the property, has to be confirmed against the PPM.
Chapter 9Tailwind Group Expands its Student Housing Portfolio to KansasTailwind Group acquired Legends Place Apartments in Lawrence, KS (632-bed community near the University of Kansas) and rebranded it as The Quarters at Lawrence, establishing Tailwind as property manager of the BT Lawrence Student Housing DST's underlying asset.