Top1031

Makley Place Apartments

Multifamily (Class A mixed-use, 3 ground-floor retail suites) property in Columbus, OH — sponsored by Starboard Realty Advisors

Files with the SEC as Starboard Makley DST

Minimum investment
$25k
Offering size
$21.3M
How much has sold
None sold yet
Asset type
Multifamily (Class A mixed-use, 3 ground-floor retail suites) property
Location
Columbus, OH
Financing
Leveraged. This offering reports mortgage debt on the property.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

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 real estate — sponsored by Starboard Realty Advisors. It owns Makley Place, a Class A mixed-use apartment building in Columbus, Ohio completed in 2022.1 The sponsor reported closing escrow on August 4, 2025, and the Trust is raising equity from accredited investors — those meeting SEC income or net-worth tests.4

Makley Place Apartments image

LTV 52.64%; min $100k; occ 91.4% in-place; retail: Kida House, Sweetly Bronzed; $45M total

Show sources (10)Hide sources (10)

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

City-level mapColumbus, OH metroCity-level location. Exact address not publicly confirmed.

On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.

Chapter 2

What exactly is the property?

Makley Place was completed in 2022.1 The sponsor's brochure lists 27 open spaces and 84 garage spaces, 111 in total.2 Starboard Realty Advisors reported closing escrow on the acquisition on August 4, 2025.4 No purchase price appears in the public materials reviewed as of September 1, 2026.

Property address
210 West 5th Avenue, Columbus, OH
Property size
140 units
Chapter 3

Who is the tenant, and what's the lease?

Income here comes mainly from short-term apartment leases rather than one long-term tenant, with three ground-level commercial units beneath the residences.3 Listing data compiled for the Trust names Kida House and Sweetly Bronzed among those occupants; no commercial lease terms or expirations were located in public sources as of September 1, 2026.

Chapter 4

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.

How we work out how much has sold

We divide the amount the sponsor reports sold by the offering size in its latest SEC filing, filed Sep 2, 2025.

  • The sponsor reports these amounts itself, and can amend them later.
  • A filing can be behind what has actually sold. It does not confirm that interests are still available.
  • The amount left to sell is the offering size minus the amount sold.

Raise history appears here once sales are filed — free account required.

Chapter 5

How is it financed, and what does it pay?

The Trust carries debt rather than owning the building free and clear: a Freddie Mac loan originated through Newmark and structured interest-only, meaning no principal is retired during the term and the balance must be refinanced or repaid out of a sale when it matures.5

Financing
Leveraged. This offering reports mortgage debt on the property.
Chapter 7

What does the paperwork say?

The original notice still stands alone — no amendment has followed it, so the public 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.

  1. Form D filedFirst and latest filing on record.
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.

Chapter 8

Common questions

Is Makley Place Apartments still raising money?

Top1031 lists Makley Place Apartments as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.

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, a Delaware statutory trust that holds Makley Place at 210 West 5th Avenue in Columbus, Ohio. DST interests can qualify as replacement property in a 1031 exchange. Holders are passive: decisions on leasing, financing, and sale sit with the trustee and sponsor as described in the PPM, the Private Placement Memorandum that serves as the offering's full disclosure document.

Is the Offering still open to new investors?

The only issuer filing on record is the Form D dated September 2, 2025, filed as a new notice rather than an amendment, and nothing has updated it since. A Form D is a brief SEC notice of an exempt offering, not a running status report. A Baker 1031 offering page last updated May 20, 2026 reported $11,744,530 of available equity, described as 55.1% of the equity, while also displaying a 'Status Rejected' label the page never defines; Baker 1031 says its figures are summaries drawn from the PPM and sponsor materials. Current availability has to be confirmed with the sponsor or your own representative.

How is the property financed?

The sponsor's brochure states a Freddie Mac loan originated by Newmark at a 5.44% interest rate, interest-only for a 10-year term, a 52.64% loan-to-value ratio, $23,684,000 of loan proceeds, and $44,994,000 of total capitalization. Interest-only means the principal balance does not amortize during the term, so the debt must be refinanced or repaid from a sale at maturity. The loan documents themselves are not public; the PPM controls.

Who are the retail tenants, and how long are their leases?

Three ground-level commercial units sit beneath the residences, per the sponsor's August 22, 2025 offering announcement carried by AltsWire. Listing data compiled for this Trust names Kida House and Sweetly Bronzed among the occupants. Lease expirations, escalations, renewal options, and expense-reimbursement terms for those suites were not established in any public source reviewed as of September 1, 2026 — the PPM and rent roll govern.

How full is the building?

Listing data compiled for this Trust shows 91.4% in-place occupancy. That is a sponsor-side underwriting figure with no stated measurement date and no independent audit, and research as of September 1, 2026 located no third-party or audited occupancy report for Makley Place. Submarket occupancy figures that appear in the sponsor's announcement describe the Columbus submarket, not this property. The rent roll delivered with the PPM is the governing source.

Who runs the property day to day?

Village Green Companies, an unaffiliated apartment management firm, lists Makley Place at 210 W 5th Ave among the communities it manages on its own locations page. Sponsor-affiliated parties in DST structures commonly earn fees or a share of cash flow, and any asset-management or master-lease arrangement above the on-site manager is described in the PPM, which is also where the resulting conflicts are disclosed.

Chapter 9

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