Offering size$5.4M
Asset typeMultifamily
LocationLincoln, NE
FinancingAll cash
Regulation D exemptionRule 506(b)
Sponsor-reported potential 721/UPREIT exitNo
First filedJan 15, 2026
Last filedMay 1, 2026
Minimum$500k
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.
SRRT Square 2 DST is a Delaware Statutory Trust sponsored by SR Realty Trust that owns roughly 2.23 acres of land at 1712 North 48th Street in Lincoln, Nebraska. The land is ground-leased to an affiliate developing Square 2 Apartments, a 115-unit, five-story Class A market-rate building expected to deliver in summer 2026. The trust's income derives from an absolute triple-net master ground lease that commenced August 6, 2025, at $320,000 initial annual base rent with 2.0% yearly increases. It was capitalized through an all-equity $5,400,000 offering with no acquisition debt at the DST level.
Sponsor SR Realty Trust; $5.4M unlevered; min $500k; 5.35% tgt; 50-yr ground lease to SRRT Properties LP; delivery summer 2026
97,053 SF land; 115-unit / ~95-99k SF apt bldg plannedBased on issuer-filed Form D notices through May 1, 2026. Amounts are self-reported, may lag current subscriptions, and do not confirm availability. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Reported sold as a percentage of stated offering amount99.0%
Capital sold, per latest Form D$5,372,288
Remaining amount reported in latest Form D$27,712
Investor count reported in latest Form D6
Stated minimum investment$500,000
See the full reported financial recordBy creating an account you agree to the Terms of Service and acknowledge the Privacy Policy. We'll email you sign-in links and service notices about your account.
First filedJan 15, 2026
Latest filingMay 1, 2026
Filings tracked4
View filing on SEC EDGARForm D is an issuer notice filing. A filing does not mean the SEC approved, endorsed, or verified the offering.
Offering profile
SEC filings + cited sources
Property and structure
SRRT Square 2 DST holds approximately 2.23 acres of unimproved land at 1712 North 48th Street, Lincoln, Nebraska 68504, ground-leased to affiliated entity SRRT Square 2 GL, LLC, which is developing the 115-unit, five-story Class A market-rate Square 2 Apartments, including 122 surface parking stalls and nine enclosed garages, with delivery expected in summer 2026 1. The trust originated as Square 2, LLC, which acquired the parcel from an unrelated third party in early 2023 for $1,000,000 and converted into the DST via a Delaware Certificate of Conversion filed August 1, 2025 1.
Lease and income
The absolute triple-net master ground lease commenced August 6, 2025, carries a 50-year initial term with five 10-year renewal options, and sets initial annual base rent at $320,000 with 2.0% annual increases; the ground lessee, wholly owned by initial beneficiary SRRT Properties, LP, pays all expenses 2. This affiliated ground lease is the trust's sole cash-flow source, with no third-party income-producing tenant and a projected lease-up of approximately 12 months after delivery 2.
Capitalization
The trust is capitalized through a $5,400,000 all-equity offering with no acquisition debt at the DST level. Use of proceeds includes a one-time $162,500 acquisition fee to the initial beneficiary and a $25,000 initial reserve, and the contributed property value placed into the trust is $5,113,250 2.
Offering filings
An issuer-filed Form D/A dated May 1, 2026 reported $5,372,288 sold against the $5,400,000 offering amount 3.
Tax structure
A tax opinion dated October 21, 2025 concludes that the trust will be treated as a grantor trust and that beneficial interests are undivided fractional interests qualifying as 1031 replacement property under Revenue Procedures 2002-22 and 2004-86 4.
Sponsor
SR Realty Trust reported a $534 million portfolio as of Q3 2025 across five development joint ventures and more than 52 investments in five states, totaling approximately 5.4 million square feet 5.
In the news
Frequently asked questions
Is Square at 48 currently active?
Square at 48 is classified by Top1031 as active. “Active” reflects the latest public record and does not confirm that interests remain available.
Where does Top1031 get the data for Square at 48?
Top1031 tracks this offering from SEC Form D filings and cited sponsor disclosures. Filing data may lag current subscriptions and does not mean the SEC approved or verified the offering.