Top1031

Arden Woods

Class A garden-style multifamily property in Spring, TX · sponsored by Starboard Realty Advisors

HistoricalLast Form D, filed Nov 4, 2022, reports the offering fully sold (opens in a new tab)

Arden Woods was a DST sponsored by Starboard Realty Advisors that owned a class A garden-style multifamily property in Spring, TX (308 units). Its last Form D, filed Nov 4, 2022, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Nov 4, 2022, reports the offering fully sold.

Starboard Realty Advisors has 2 active offerings on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$48,200,000
Equity offered, per the Form D
Sold
100%
Form D, Nov 4, 2022; the % is our arithmetic
Investors reported
121
Form D, Nov 4, 2022
Selling commissions
$2,868,000 · 5.9% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
How it is financed ↓
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.

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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Arden Woods. Top1031 is not a broker-dealer.

What did Arden Woods own?

An April 15, 2022 release from Starboard Realty Advisors said the firm had acquired Arden Woods, which it described as a highly amenitized Class A garden-style community in Spring, Texas. 1 The property's leasing site places it at 24530 Gosling Road, in the far northern Houston metro. 2 A Harris County appraisal case captioned "Starboard Arden DST (Arden Woods)" was filed August 24, 2023 and disposed as final, moving the account's value from $54,469,018 to $53,530,010. 3

Reported location
Spring, TX
Property size
308 units

How was it financed, and what did it cost to sell?

Neither Form D discloses debt, and the reviewed public record does not establish a lender, mortgage balance, or loan-to-value for this Trust — so whether it is leveraged or all-cash is not publicly settled. Those terms would appear in the offering documents.

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.

Costs and terms from the Form D

Selling commissions
$2,868,000 · 5.9% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$4,334,214 · 8.9% of offering
Form D Item 16
· The filing’s note: “Estimate of certain fees, including the Due Diligence Allowance, Placement Agent Fee, Marketing Allowance, Organization Costs and Acquisition Fee that may accrue to one or more related persons.”
Broker-dealers named in the Form D
13 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jun 2, 2022
Minimum investment
$25,000

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 does the SEC record show?

The initial Form D of June 22, 2022 reported a first sale on June 2, 2022 against a $47,800,000 offering. 9 The November 4, 2022 amendment revised that size upward and is the last filing on record. 6 It was sold under Rule 506(b): no general advertising, and buyers must be accredited — meeting SEC income or net-worth tests.

Legal Trust name
Starboard Arden DST
SEC CIK
1933642
First Form D
Jun 22, 2022
Latest Form D
Nov 4, 2022
Filings on record
2
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$48,200,000was $47,800,000
$48,200,000+$39,483,887
121+101
EDGAR
Form D$47,800,000
$8,716,113
20
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

What happened to Arden Woods?
Arden Woods is a Historical offering. The last Form D, filed Nov 4, 2022, reports the offering fully sold.
What property does Starboard Arden DST own?
Arden Woods, a 308-unit Class A garden-style apartment community at 24530 Gosling Road in Spring, Texas, in the northern Houston metro. Starboard Realty Advisors announced the acquisition in an April 15, 2022 release, and a Harris County appraisal record captioned "Starboard Arden DST (Arden Woods)" ties the Trust directly to the property.
Who pays the rent at Arden Woods?
Individual apartment residents, not a single corporate tenant. Apartments.com lists lease options of three to 18 months, meaning the rent roll turns over continuously rather than being fixed by one long-term lease. Avenue5 Residential, LLC appears as the property's management contact.
How much debt is on the property?
Not publicly established. Form D does not require an issuer to disclose loan terms, and the reviewed public record does not identify a lender, mortgage principal, or loan-to-value for this Trust. Debt terms, if any, would be described in the offering documents and the Trust's investor reporting.
Has there been any litigation or regulatory activity?
Two public items exist. The White Law Group published an investigation notice on July 11, 2025 referencing Starboard Arden DST and its offering; a law-firm investigation notice is not a legal finding. Separately, a Harris County property-tax appraisal matter filed August 24, 2023 was disposed as final, with the account value moving from $54,469,018 to $53,530,010.

In the news

Sources

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

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.