Horizon at Ridgeview (formerly The Dylan)
Multifamily property in Fort Worth, TX — sponsored by Starboard Realty Advisors
Files with the SEC as Starboard Ridgeview DST
Minimum investment
$25k
Offering size
$24.3M
How much has sold
100.0%
Asset type
Multifamily property
Location
Fort Worth, TX
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Horizon at Ridgeview, formerly The Dylan, is a Delaware statutory trust (DST) — a structure letting 1031 exchangers hold a fractional interest in real estate — that owns a single-family rental community built in 2021 in southwest Fort Worth, Texas. Starboard Realty Advisors acquired the community in January 2022 and later rebranded it. The offering is closed to new investors.
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Roughly 107,500 rentable square feet of rental homes, completed in 2021 about 15 minutes south of downtown Fort Worth.1 Starboard Realty Advisors bought the community in January 2022 under the name The Dylan, then rebranded it Horizon at Ridgeview. Public sources disagree on the street address: the acquisition announcement names Sycamore School Road, while the current leasing site lists 1000 East Harmon Road.3
- Reported location
- Fort Worth, TX
- Property size
- 112 units
Who is the tenant, and what's the lease?
There is no single corporate tenant here. Income comes from individual residents on their own leases, so occupancy and renewals — not one credit tenant's guarantee — drive the rent roll. The property's leasing site names Avenue5 as its professional manager.3 No lease terms appear in the public filings.
How did it end?
Sold after 4.5 years; sponsor reported 1.71x
Listed as a completed/full-cycle program on Starboard Realty Advisors's published track record.
112-unit single-family rental (SFR) community built in 2021 in southwest Fort Worth/Tarrant County, ~15 minutes south of downtown Fort Worth. Acquired by Starboard Realty Advisors in Jan 2022 (then branded 'The Dylan'); rebranded to Horizon at Ridgeview. Total offering $24,250,000; investment cost ~$40,426,000; loan $16,176,000; appraised value $33,300,000; occupancy ~93% at launch.
112 units1.71×Equity multiple · as reported by the sponsor
71.0%Total return · as reported by the sponsor
12.8%Annualized return · as reported by the sponsor
$16,800,000Sale price · as reported by the sponsor
Supporting evidence
How is it financed, and what does it pay?
The Trust carries mortgage debt alongside investor equity — a $16,176,000 loan on the property — so a lender's claim sits ahead of investors and refinancing or sale timing turns partly on that loan. No lender is named in the public record.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Starboard Realty Advisors, whose CEO is identified in the filings as William H. Winn, sponsors the Trust; affiliates Starboard Ridgeview Depositor LLC and Starboard Ridgeview Manager LLC serve as depositor and administrative trustee.2 It is a repeat 1031 sponsor running a small DST program. On February 21, 2025, the White Law Group, a securities law firm, announced an investigation into broker-dealer sales practices involving this Trust; no court, regulator, or default record tied to the property was located.
- Sponsor
- Starboard Realty Advisors
- Legal Trust name
- Starboard Ridgeview DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 6 total offerings from Starboard Realty Advisors
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The record here is short: an initial Form D — the brief notice an issuer files with the SEC for a private, unadvertised offering — followed by one amendment reporting the raise finished and the Trust closed to new investors. The exemption used bars general solicitation, so interests reached investors through existing broker-dealer relationships.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- 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.
Common questions
What happened to Horizon at Ridgeview (formerly The Dylan)?
Top1031 lists Horizon at Ridgeview (formerly The Dylan) as historical. It is no longer raising money.
Where does Top1031 get the data for Horizon at Ridgeview (formerly The Dylan)?
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.
Can I still invest in Horizon at Ridgeview?
No. The amendment filed October 10, 2023 reported the offering complete, which makes this a historical Trust — closed to new investors. Interests in DSTs occasionally change hands privately between existing holders, but no secondary market is described in the public filings for this Trust.
What kind of real estate does this Trust own?
A single-family rental community in southwest Fort Worth, Tarrant County, Texas, built in 2021 and located roughly 15 minutes south of downtown Fort Worth. Rather than apartment stacks, it is a community of detached rental homes leased to individual residents, totaling about 107,500 rentable square feet according to a marketplace listing for the Trust.
Why does the property have two names?
Starboard Realty Advisors acquired the community in January 2022 when it was branded The Dylan. It was later rebranded Horizon at Ridgeview, which is the name on the current leasing site. The SEC filings use the legal entity name, Starboard Ridgeview DST — all three refer to the same offering.
Who manages the property day to day?
The Horizon at Ridgeview leasing website states the community is professionally managed by Avenue5, a third-party residential management firm. The DST itself is passive: a Delaware statutory trust cannot actively operate real estate, so the sponsor and its affiliates arrange management, and investors receive their share of whatever the property produces.
What should I make of the 2025 investor alert about this Trust?
On February 21, 2025, the White Law Group published a notice that it was investigating whether broker-dealers made suitable recommendations to investors in Starboard Ridgeview DST, referencing the 2023 Form D. That is a law firm solicitation about how the investment was sold, not a court ruling or regulatory action. No court judgment, regulatory order, loan default, or foreclosure record tied to the property was located.
What does Rule 506(b) mean for how this was sold?
Rule 506(b) is the private-placement exemption that lets an issuer raise money without registering with the SEC, provided it does not advertise publicly. Investors typically had to be accredited — meeting income or net-worth thresholds — and came in through an existing relationship with a broker-dealer or the sponsor, not from a public ad.
Chapter 9Starboard Ridgeview DST ExamplesLists Starboard Ridgeview DST as a 112-unit single-family rental community in Fort Worth, TX, with loan of $16,176,000, investment cost ~$40,426,000, appraised value $33,300,000, and ~93% occupancy. Starboard Realty Advisors Completes Acquisition of Highly-Amenitized Apartment Community in Fort Worth, TexasStarboard announces the January 2022 acquisition of the 112-unit community at 5344 Sycamore School Road, Fort Worth, TX, then branded 'The Dylan.'