Top1031

Elan Park Apartments

Multifamily property in Columbus, OH · sponsored by Starboard Realty Advisors

HistoricalLast Form D, filed Apr 24, 2025, reports the offering fully sold (opens in a new tab)

Elan Park Apartments was a DST sponsored by Starboard Realty Advisors that owned a multifamily property in Columbus, OH (252 units). Its last Form D, filed Apr 24, 2025, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Apr 24, 2025, 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
$28,100,000
Equity offered, per the Form D
Sold
100%
Form D, Apr 24, 2025; the % is our arithmetic
Investors reported
76
Form D, Apr 24, 2025
Selling commissions
$1,686,000 · 6.0% of offering
Form D Item 15; the % is our arithmetic
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 →

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: Elan Park Apartments. Top1031 is not a broker-dealer.

What did Elan Park Apartments own?

Elan Park Apartments stands at 5050 Westerville Road in Columbus, Ohio. 1 Starboard Realty Advisors placed the community into a Delaware statutory trust and announced the offering in December 2024, marketing it as a 1031-exchange-qualified opportunity. 2 The public records reviewed do not state when the Trust acquired the property or what it paid.

Reported location
Columbus, OH
Property size
252 units (Class A garden-style multifamily; built 2023)

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

The Form D filings say nothing about debt, so the SEC record alone does not establish whether the Trust is leveraged or all-cash. A third-party marketplace listing describes mortgage financing on the property, but those terms appear in no filing reviewed and remain unconfirmed. 6

Debt

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

Costs and terms from the Form D

Selling commissions
$1,686,000 · 6.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,345,432 · 4.7% of offering
Form D Item 16
· The filing’s note: “Estimate of certain fees, including Due Diligence Allowance, Placement Agent Fee, Marketing Allowance and Organization Costs that may accrue to one or more related persons.”
Broker-dealers named in the Form D
14 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Nov 29, 2024
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 Trust's SEC file is short: an initial Form D — the brief notice an issuer files when selling securities without registering them — followed by a single amendment reporting the raise complete. It was offered under Rule 506(c), which permits public advertising but limits purchasers to verified accredited investors. The amendment listed first sales beginning November 29, 2024. 3

Legal Trust name
Starboard Elan DST
SEC CIK
2045301
First Form D
Nov 18, 2024
Latest Form D
Apr 24, 2025
Filings on record
2
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$28,100,000
$28,100,000+$28,100,000
76
EDGAR
Form D$28,100,000
$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

What happened to Elan Park Apartments?
Elan Park Apartments is a Historical offering. The last Form D, filed Apr 24, 2025, reports the offering fully sold.
What does the Trust own?
Elan Park Apartments, a 252-unit Class A garden-style multifamily community built in 2023 in Columbus, Ohio. The property is located at 5050 Westerville Road, Columbus, OH 43231.
Who is the tenant?
There is no single corporate tenant. As an apartment community, the property is leased unit by unit to residents. No public source reviewed identified a master tenant or master-lease counterparty for the Trust. Apartments.com identifies Village Green as the property management company at the address.
Is the Trust leveraged?
The SEC filings do not disclose the Trust's debt, so leverage cannot be confirmed from the public record. A third-party marketplace page describes mortgage financing on the property, but no filing reviewed corroborates it.
Does this Trust have a 721/UPREIT exit?
Nothing in the record indicates one. A 721 or UPREIT exit is a structure in which DST interests are later contributed to a REIT's operating partnership in exchange for units; this Trust's record shows no such conversion feature.

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.