Top1031

Benson Lights Apartments

Multifamily (Class A, with ground-floor bank retail) property in Omaha, NE — sponsored by SR Realty Trust

Files with the SEC as SRRT Benson DST

Minimum investment
$500k
Offering size
$10.8M
How much has sold
51.0%
Asset type
Multifamily (Class A, with ground-floor bank retail) property
Location
Omaha, NE
Financing
Leveraged. This offering reports mortgage debt on the property.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

SRRT Benson DST is a Delaware statutory trust — fractional, passive ownership of one property that can serve as 1031 replacement real estate — holding Benson Lights Apartments, a 2017-built Omaha, Nebraska apartment building with ground-floor bank space.1 Sponsor materials date the Trust's purchase of the property to October 10, 2025.7 The Trust is raising equity from accredited investors, those meeting SEC income or net-worth tests.

Sponsor SR Realty Trust; $20.34M price; min $500k; 5.36% tgt; 47% LTV; 95% occ; built 2017; 3k SF leased to First Interstate Bank

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These links support the public record as a whole; individual details may come from different sources.

City-level mapOmaha, NE metroCity-level location. Exact address not publicly confirmed.

On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.

Chapter 2

What exactly is the property?

Benson Lights Apartments was built in 2017 in Omaha's Benson neighborhood. Sponsor materials describe a four-story residential building of 99 units plus an adjacent single-family home and ground-floor commercial space, on roughly 2.48 acres.3 SR Realty Trust's memorandum says the Trust bought the property on October 10, 2025 from 60th NW Radial LLC, an unrelated seller.7 That memorandum states three different acquisition prices, from $17,100,000 to $17,173,000, without reconciling them.8

Property address
3030 N 60th St, Omaha, NE
Property size
100 units / 95,938 SF
Chapter 3

Who is the tenant, and what's the lease?

The Trust leases the entire property to Benson MT, LLC as master tenant, which operates the building and pays the Trust rent — the standard DST arrangement that keeps investors passive.5 First Interstate Bank occupies the ground-floor commercial space under a lease the memorandum says expires March 12, 2027.6

Chapter 4

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.

How we work out how much has sold

We divide the amount the sponsor reports sold by the offering size in its latest SEC filing, filed Mar 9, 2026.

  • The sponsor reports these amounts itself, and can amend them later.
  • A filing can be behind what has actually sold. It does not confirm that interests are still available.
  • The amount left to sell is the offering size minus the amount sold.
51.0% reported sold
Amount sold
$5,520,613
Still available
$5,279,387
Investors reported
3
Total offering
$10,800,000
Not enough filings yet to show a trend.
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Chapter 5

How is it financed, and what does it pay?

Debt came with the property, so a 1031 exchanger replaces borrowed money as well as equity. Sponsor materials identify a non-recourse Fannie Mae loan dated October 10, 2025 secured by the property.11 The memorandum also describes a tax increment financing note — public redevelopment money tied to the site — and its capitalization figures do not reconcile.10

Financing
Leveraged. This offering reports mortgage debt on the property.
Chapter 7

What does the paperwork say?

The Form D on record — the brief notice filed for an offering exempt from SEC registration — is an original notice rather than an amendment, and reports a first sale on February 11, 2026.12 The exemption used permits general advertising, provided the issuer verifies that every buyer is accredited.

  1. 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.

Chapter 8

Common questions

Is Benson Lights Apartments still raising money?

Top1031 lists Benson Lights Apartments 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 Benson Lights Apartments?

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.

Is this Trust still open to new investors?

It is in its raising stage. One Form D is on record, indexed by EDGAR as filed March 9, 2026 and reporting a first sale on February 11, 2026, and research through September 1, 2026 did not establish any later amendment, closing notice, or termination filing. A Form D on record is not proof that interests remain available today — the sponsor is the only current source on availability.

What did the Trust pay for the property?

That is unresolved from the sponsor's own materials. SR Realty Trust's private placement memorandum states the Trust acquired Benson Lights Apartments on October 10, 2025 from 60th NW Radial LLC, described as an unrelated third-party seller, but gives the acquisition price inconsistently across passages as $17,173,000, $17,163,000, and $17,100,000, with no reconciliation. The purchase price is a question for the issuer, and the recorded deed is the independent check.

Who is the tenant, and how does the lease work?

The Trust is landlord under a master lease, the common DST arrangement in which one entity leases the whole property, operates it, and pays the Trust rent. Per the master lease, the tenant is Benson MT, LLC, the lease is effective September 22, 2025, and annual rent is $940,000 plus specified operating costs and expenses, increasing 1.5% each lease year. The term is unresolved in the sponsor's documents: the memorandum says the lease ends at the earlier of a sale or ten years from commencement, while the master lease itself states fifteen years from September 22, 2025. On the commercial side, the memorandum reports First Interstate Bank leasing approximately 3,233 rentable square feet at annual rent of $55,284.30, with anticipated expiration March 12, 2027 and three successive five-year extension options at fair market value. Residents hold ordinary apartment leases, so income depends on continuing to lease units rather than on one corporate credit.

How is the offering capitalized?

The sponsor's memorandum is internally inconsistent on this point. It presents a $20,339,000 maximum offering comprising $10,800,000 of equity, $9,539,000 of debt and a $4,500,000 tax increment financing note, yet elsewhere presents $10,800,000 as the maximum offering and describes total investor cost as both about $20,339,000 and about $10,800,000; the stated minimum investment is $500,000. The memorandum identifies the $9,539,000 mortgage as Fannie Mae debt secured by the property, and the related loan agreement, dated October 10, 2025, is titled non-recourse. Ask the sponsor for the note, the loan agreement, and a clean sources-and-uses table.

What is known about occupancy?

The appraisal prepared by Apprise by Walker & Dunlop reports the property was 98.0% occupied as of the June 12, 2025 rent roll and states stabilized occupancy of 94.5%. The sponsor's November 2025 newsletter introducing the offering, posted December 1, 2025, cited 95% occupancy. Research through September 1, 2026 did not establish a later figure, so a current rent roll is an item to request from the sponsor before the 45-day identification deadline runs.

Can this Trust convert into a REIT?

The record shows no 721/UPREIT feature — that is the structure in which a DST's property is later contributed to a REIT's operating partnership in exchange for units, deferring gain again but ending 1031 eligibility on those units. Absent that feature, the exit path is whatever the private placement memorandum describes for a sale of this property, and that section is the one to read rather than assuming an UPREIT option exists.

Chapter 9

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