The Summit at Coates Run
Student housing property in Athens, OH
Active offeringLatest Form D filed Mar 2, 2026 (opens in a new tab)
The Summit at Coates Run is a DST that owns a student housing property in Athens, OH (856 beds). Its latest Form D, filed Mar 2, 2026, lists a $37.7 million offering with a $100,000 minimum.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $37,725,000Equity offered, per the Form D
- Sold so far
- None reported as of Mar 2, 2026Form D, Mar 2, 2026
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,395,250 · 9.0% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
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 →
Sales so far
- Latest Form D
- Mar 2, 2026 · 1 filing
No sales reported in a Form D amendment yet. Latest notice Mar 2, 2026.
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Ask a 1031 specialist about this recordFree. About: The Summit at Coates Run. Top1031 is not a broker-dealer.The Summit at Coates Run · Athens, OH · Photo: lh3.googleusercontent.com
What does The Summit at Coates Run own?
The Athens County Auditor's valid sales report for February 15–21, 2026 records the property transferring to the Trust for $62,500,000, with local transfer reporting naming BVSHSSF Athens LLC as the seller. 1 This is Athens, Ohio — the Ohio University town — not Athens, Georgia. On September 3, 2026, the Athens County Independent reported that a nearby Richland Avenue intersection closure complicated student move-in and pushed detouring drivers through the community's entryway. 2
- Property address
- 363 Richland Ave, Athens, OH
- Property size
- 856 beds / 239 units, Class A, built 2009, renovated 2019, 92.98% occupied, ~1 mile from Ohio University
- Structure
- 506(c), core-plus, ~2 yr est. hold, mandatory 721 UPREIT exit, ~19.58% total load
- Total offering
- $72,100,000
- Investor equity
- $37,725,000
- Debt
- $34,375,000
- Distributions
- 4.70% year 1 rising to 5.21% by year 10 (4.96% avg); 8.52% est. cap rate equivalent
How is it financed, and what did it cost to sell?
Leveraged means mortgage debt sits ahead of investor equity: the lender is paid first and must be satisfied on any sale or refinancing. An interest-only loan pays down no principal while it runs, so the full balance stands at maturity and must be repaid, refinanced, or covered by a sale.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- Lender
- Old National Bank
- Interest rate
- 5.72% fixed
- Loan term
- 10 years, interest-only for 10 years
- Loan-to-value
- 47.68% in-placeThe loan measured against the property’s value.
- Year 1 debt-service coverage
- 2.04xHow many times rental income covers the loan payment in year one.
- May convert to a REIT (721)
- Target hold
- 10 years From BT DST Manager’s offering documents (Mar 2026). As reported by the sponsor.
Costs and terms from the Form D
- Selling commissions
- $3,395,250 · 9.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $5,473,500 · 14.5% of offeringForm D Item 16· The filing’s note: “BT Athens Student Housing Depositor, LLC is required to pay approximately $5,473,500 in costs and expenses related to the offering and acquisition of the property.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Baker Tilly Capital, LLC · CRD 115333
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $100,000
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 are the deal terms?
From BT DST Manager’s offering documents (Mar 2026).
Your exit
- Can the sponsor's affiliate buy investors out?
- Yes, after 2 years
From offering termination. No reply: cash (taxable sale)
Rent and the bills
- Who pays rent to the trust?
- A master tenant affiliated with the sponsor
- Who pays for roof and structural repairs?
- Investors, through the trust
- Who pays if taxes or insurance go up?
- The tenant or master tenant
Your rights
- Can investors remove the manager?
- No
- How are disputes with the sponsor resolved?
- Mandatory arbitration
Who's behind The Summit at Coates Run?
Baker 1031, a marketplace presenting figures it attributes to the sponsor, identifies Baker Tilly as sponsor of this Trust; the March 2, 2026 Form D names no sponsor, so that identification rests on marketplace material rather than the public filing. 3 On February 8, 2026, a sponsored announcement in AltsWire said Baker Tilly had formed a strategic relationship with Blue Vista Capital Management and PeakMade Real Estate to expand its Delaware Statutory Trust platform across student housing and residential assets.
Note from the sponsorProperty is in Athens, OHIO (Ohio University), not Athens, GA. Baker1031.com is a third-party marketplace; details are sponsor-reported.
What does the SEC record show?
Rule 506(c) lets an offering be advertised publicly, but the issuer must affirmatively verify each buyer's accredited-investor status rather than accept self-certification. 4 The notice stands unamended, and Baker 1031's offering page still showed the listing under review when it was updated June 27, 2026. 3
- Legal Trust name
- BT Athens Student Housing DST
- SEC CIK
- 2107367
- First Form D
- Mar 2, 2026
- Latest Form D
- Mar 2, 2026
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $37,725,000 | $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
- Is The Summit at Coates Run an active offering?
- The Summit at Coates Run is an Active offering: its latest Form D was filed Mar 2, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- Does The Summit at Coates Run have a 721 UPREIT exit?
- The record lists a possible 721 exit for The Summit at Coates Run. It is an option, not a completed transaction; the offering documents set whether and when it can happen. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
- How a DST-to-721 UPREIT exit works
- Is the property in Athens, Georgia or Athens, Ohio?
- Athens, Ohio. The community sits on Richland Avenue roughly a mile from Ohio University, and the Athens County Auditor's sales report ties the Trust's recorded purchase to that address. Nothing in the public record connects this Trust to Athens, Georgia. It is also a separate issuer from the similarly named Athens Student Housing DST, CIK 1884988.
- What did the Trust pay for the property, and is that confirmed?
- The Athens County Auditor's valid sales report for February 15–21, 2026 records 363 Richland Avenue transferring to BT Athens Student Housing DST for $62,500,000 on February 18, 2026, with BVSHSSF Athens LLC as the seller. That is a county transfer record; the underlying deed instrument was not reviewed. The purchase price is a different figure from the total capitalization, equity, and debt amounts shown in the rows on this page.
- Who is the tenant, and who runs the property?
- There is no single corporate tenant. The Summit at Coates Run is student housing, and the sponsor's offering material describes the units as primarily four-bedroom residences leased individually by the bedroom, so income comes from many student leases rather than one corporate lease. Research as of October 4, 2026 did not resolve which company holds the day-to-day property management agreement. The offering documents are where the manager and any affiliate relationships are set out.
- Can any investor participate, and what does it cost to get in?
- No. This is a Rule 506(c) offering, which permits public advertising but limits purchasers to accredited investors — those meeting SEC income or net-worth tests — whose status the issuer must affirmatively verify, typically through tax returns, brokerage statements, or a letter from a CPA or attorney.
- What has been reported about the property since the offering was filed?
- On September 3, 2026, the Athens County Independent reported that a Richland Avenue intersection closure created move-in access problems and pushed additional traffic through the community's entryway; that is an access disruption, not damage to the buildings or an interruption of operations. The occupancy figure carried on this page comes from the sponsor's offering material and describes the property at the time of the offering, with no measurement date.
In the news
Sources
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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.