Tiffany Laurel Reserve
Land parcel in Coventry, RI · sponsored by LRT Hardeeville Holdings
Tiffany Laurel Reserve is a DST sponsored by LRT Hardeeville Holdings that owns a land parcel in Coventry, RI. Its latest Form D, filed Aug 25, 2025, lists a $20.5 million offering with a $100,000 minimum.
Key facts
A free account shows how much of each active offering has sold and the Sponsor Grade letters.- Minimum investment
- $100,000From the Form D
- Offering size
- $20,550,000Equity offered, per the Form D
- Sold so far
- Form D, Aug 25, 2025; the % is our arithmetic4.1%
- Investors reported
- Form D, Aug 25, 20251
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,849,500 · 9.0% of offering
- Financing
- All cash. This offering reports no mortgage debt.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 →
Can I still invest?
A free account shows how much of each active offering has sold and the Sponsor Grade letters.No new interests: the offering is reported fully subscribed.
By Top1031’s calculation from the latest Form D, filed Aug 25, 2025, 4.1% of the offering had sold.
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Availability changes without a filing. The sponsor or a registered representative can confirm what is open.
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What does Tiffany Laurel Reserve own?
The Trust's asset is land, not a building. The sponsor's April 20, 2026 description presents the 204 units as planned, to be developed on the ground-leased land rather than occupied today. 2 LRT Company announced on December 19, 2024 that it had bought 12.38 acres in Coventry after final site approval and entitlements, for a campus it put at $65 million; that purchase was by the company, not the Trust. 4
- Property address
- off New London Turnpike, Coventry, RI
- Property size
- 14 ac; 204-unit / 157k SF campus planned
Tenant and lease terms are not in the SEC filings or cited sources.
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
Because the Trust owns the land beneath a ground lease, the cost of designing and building the campus sits with the lessee, so the Trust's economics run on ground rent. LRT Company described the offering as equity only, with no borrowing at the Trust level. 1
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $1,849,500 · 9.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $18,700,500 · 91.0% of offeringForm D Item 16· The filing’s note: “18,495,000 of this amount is attributed to the Property, contributed by an affiliate of the Sponsor”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Metric Financial, LLC · CRD 33324
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jul 23, 2025
- 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.
Who's behind Tiffany Laurel Reserve?
LRT Company develops senior housing and entered Rhode Island with this project. 4 It announced the Trust's offering on August 12, 2025, marketing it to accredited investors, those who meet SEC income or net worth tests. 1 The ground lessee and the lease guarantor are both sponsor affiliates, so rent to the Trust depends on the sponsor's own entities. 3
- Sponsor
- Offerings on record
What does the SEC record show?
A Form D is an issuer's notice of an exempt offering, not an SEC review. It states a $20.55 million offering amount, of which $18,495,000 was property contributed by a sponsor affiliate, not investor cash. 5 The exemption relied on permits public advertising, provided the sponsor verifies each buyer is accredited.
- Legal Trust name
- LRT Coventry RI DST
- SEC CIK
- 2081688
- First Form D
- Aug 25, 2025
- Latest Form D
- Aug 25, 2025
- 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 | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $20,550,000 | $857,659 | 1 | 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
- Can I still invest in Tiffany Laurel Reserve?
- No new interests: Tiffany Laurel Reserve is reported fully subscribed. Top1031 lists it as recently fully subscribed and does not count it as an active offering.
- What does this Trust actually own?
- The Trust owns land in Coventry, Rhode Island, off New London Turnpike, described in LRT Company's August 12, 2025 announcement as roughly 14 acres of undeveloped ground. It does not own a building. The Tiffany Laurel Reserve campus, planned at 204 independent living, assisted living and memory care units across about 157,000 square feet, is to be built on that land.
- Who pays rent to the Trust?
- The ground lessee pays the rent. LRT Company's offering brochure, hosted by Exchange-X, names LRT Coventry ST, LLC as the lessee under a 50-year triple-net ground lease with annual rent escalations, and names LRT Company, LLC as the lease guarantor. Triple-net means the lessee carries property taxes, insurance and upkeep on top of the ground rent. The brochure does not identify the lessee as the operating company of a senior housing facility.
- Has the senior housing campus been built?
- LRT Company's own materials present the campus as a development plan. Its April 20, 2026 release describes the 204 units as to be developed on the ground-leased land, and the offering brochure warns that delay or failure to complete the proposed project would affect the lessee's ability to pay rent to the Trust. An investor here holds land and a lease over it, not a running senior living business.
- How large is the site, and why do the sponsor's numbers differ?
- The DST materials describe the ground-leased property as approximately 14 acres. LRT Company's earlier announcement, dated December 19, 2024, described a purchase of 12.38 acres in Coventry for the same project, made by the company before the Trust's offering began. The two figures come from different announcements about the Coventry site.
- Is there a mortgage on the property?
- No borrowing is part of the structure LRT Company described. The company marketed the Regulation D placement as all-cash equity, and the August 25, 2025 Form D reports beneficial interests in a Delaware statutory trust with no loan amount stated. The cost of building the planned campus sits with the ground lessee rather than with the Trust.
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.