Makley Place Apartments
Multifamily (Class A mixed-use, 3 ground-floor retail suites) property in Columbus, OH — sponsored by Starboard Realty Advisors
LTV 52.64%; min $100k; occ 91.4% in-place; retail: Kida House, Sweetly Bronzed; $45M total
Show sources (9)Hide sources (9)
These links support the public record as a whole; individual details may come from different sources.
- Starboard Realty Advisors offering brochure (hosted by DST Investments) ↗
- AltsWire ↗
- Baker 1031 Investments, summarizing sponsor materials ↗
- Starboard Realty Advisors offering brochure (hosted by DST Investments) ↗
- Starboard Realty Advisors offering brochure (hosted by DST Investments) ↗
- U.S. Securities and Exchange Commission, Form D ↗
- Baker 1031 Investments, summarizing sponsor materials ↗
- baker1031.com ↗
- altswire.com ↗
What is this, in one paragraph?
Starboard Makley DST is a Delaware statutory trust — a structure that lets 1031-exchange investors hold fractional interests in a single property — sponsored by Starboard Realty Advisors. It owns Makley Place, a mixed-use apartment community in Columbus, Ohio completed in 2022 with three ground-floor commercial units.1 Interests are offered to accredited investors, those meeting SEC income or net-worth tests.
Minimum investment
$25k
Offering size
$21.3M
How much has sold
None sold yet
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited 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?
Makley Place was completed in 2022, pairing apartments above three ground-floor commercial suites.1 Sponsor material puts the building at roughly 102,768 residential and 6,128 commercial net rentable square feet, and says Starboard closed escrow on the purchase for approximately $37.33 million on August 4, 2025.1 AltsWire reported the acquisition on August 22, 2025 as the sponsor's second DST offering in the Columbus market.2
- Property address
- 210 West 5th Avenue, Columbus, OH
- Property size
- 140 units
Who is the tenant, and what's the lease?
There is no single anchor tenant here. The Trust leases the whole property to Starboard Makley MT, a wholly owned sponsor subsidiary, under a master lease — the usual DST arrangement, since the trust itself may not actively operate a property.3 Offering material names Kida House and Sweetly Bronzed among the ground-floor retail occupants.
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.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
The Trust owns the property subject to a mortgage rather than free and clear. Sponsor material describes a Freddie Mac loan originated by Newmark that is interest-only for its full term, meaning no principal is retired along the way and the balance must be refinanced or repaid from a sale at maturity.4
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
The Form D for this Trust identifies Starboard Realty Advisors, LLC as sponsor.6 Sponsor material says an affiliate, Starboard Management Services LLC, is responsible for managing, operating and maintaining the property, and has subcontracted day-to-day management to Village Green Management Company LLC, an unaffiliated third-party manager.5 AltsWire described Makley Place on August 22, 2025 as the firm's second DST offering in the Columbus market.2
- Sponsor
- Starboard Realty Advisors
- 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 original notice stands alone — no amendment has followed it, so the public filing record shows the Offering as it stood at launch. Because interests may be generally solicited, the sponsor may advertise the deal publicly but must take steps to verify each investor's accredited status rather than accept a self-certification.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- Starboard Makley DST
- 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.
Common questions
Is Makley Place Apartments still raising money?
Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.
Where does Top1031 get the data for Makley Place 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.
What exactly would I own?
A beneficial interest in Starboard Makley DST, the Delaware statutory trust that holds Makley Place, a 140-unit apartment community with three ground-floor commercial suites at 210 West 5th Avenue in Columbus, Ohio.[1] DST interests can qualify as replacement property in a 1031 exchange. Holders are passive: the property is master-leased to a sponsor-owned tenant, and leasing, financing and sale decisions sit with the trustee and sponsor as described in the PPM, the Private Placement Memorandum that serves as the offering's full disclosure document.[3]
Is the Offering still open, and what is the minimum investment?
The only issuer filing on record is the Form D dated September 2, 2025, filed as a new notice, and nothing has amended it since.[6] A Form D is a brief SEC notice of an exempt offering, not a running status report, so it cannot confirm current availability. The minimum also differs by source: the Form D states a $25,000 minimum investment, while a Baker 1031 offering summary states a $100,000 minimum. Confirm both availability and the minimum with the sponsor or your own representative before relying on either.
How is the property financed?
Sponsor material describes a $23,684,000 Freddie Mac loan originated by Newmark at a 5.44% interest rate on a 10-year, interest-only term, with stated loan-to-value of 52.64% and stated total capitalization of $44,994,000.[4] Interest-only with no scheduled amortization means the balance does not pay down during the term and must be refinanced or repaid from a sale at maturity. The loan documents are not public; the PPM and the loan agreement control.
Who are the commercial tenants?
Offering material identifies Kida House and Sweetly Bronzed among the ground-floor retail occupants, and sponsor material puts the three commercial units at 6,128 net rentable square feet in total.[1] Individual lease expiration dates, renewal options, rent escalations and expense-reimbursement terms were not established in the public materials reviewed through September 7, 2026, and the tenant of the third suite was not identified. The rent roll and lease abstracts delivered with the PPM govern.
How full is the building?
Offering material reports 91.4% in-place occupancy with no stated measurement date, and characterizes it as sponsor-side underwriting information rather than an audited figure. Research through September 7, 2026 located no independently audited or third-party occupancy measurement for Makley Place. Treat the number as sponsor-reported and ask for a current, dated rent roll.
Has anything changed since the offering launched?
An offering summary reports that a December 2025 supplement replaced the sponsor's original forecast and added two operating items: a five-unit corporate-rental program and a resident-protection-plan revenue stream.[7] That is a sponsor-side revision to the offering materials, not an SEC filing — the public filing record still shows a single Form D dated September 2, 2025.[6] Ask for the supplement itself alongside the PPM.
Chapter 9Starboard Realty Advisors Announces Second DST Offering in Columbus MarketStarboard Realty Advisors LLC acquired Makley Place Apartments, a 140-unit Class A mixed-use multifamily community in Columbus, OH with three ground-floor retail suites, as a private placement seeking to raise $21.3 million ($45M total) via the Starboard Makley DST for 1031-exchange investors.