Silver Oaks Apartments
Multifamily property in Gonzales, LA — sponsored by Starboard Realty Advisors
Files with the SEC as Starboard Silver Oaks DST
Minimum investment
$25k
Offering size
$49.8M
How much has sold
27.0%
Asset type
Multifamily property
Location
Gonzales, LA
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Silver Oaks Apartments is a Delaware statutory trust (DST) — fractional real estate ownership that qualifies for a 1031 exchange — sponsored by Starboard Realty Advisors and holding a Class A garden-style apartment community in Gonzales, Louisiana.4 Starboard acquired the property in May 2022 and announced a full-cycle sale on October 23, 2024, so the Trust is closed to new investors.7
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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?
Silver Oaks is a Class A, garden-style apartment community at 14496 Airline Highway in Gonzales, Louisiana, in Ascension Parish just south of Baton Rouge.6 Starboard Realty Advisors reported acquiring it on May 20, 2022, and said the community was completed in 2019 and 98.21% leased at purchase.5 The Advocate reported the seller was the Stoa Group, the price roughly $76.9 million, and dated the complex's opening to 2018.6
- Reported location
- Gonzales, LA
- Property size
- 336 units
Who is the tenant, and what's the lease?
Apartment income comes from many short-term resident leases rather than a single corporate tenant, so cash flow tracks occupancy and rents month to month. No trust-level master lease, tenant, or named property operator appears in the public record for this Trust.
How did it end?
Sold after 5.2 years; sponsor reported 1.71x
Listed as a completed/full-cycle program on Starboard Realty Advisors's published track record.
Underlying property is Silver Oaks Apartments — a 336-unit, Class A, garden-style multifamily community completed in 2019, leased by Starboard Realty Advisors under the 'Silver Oaks DST' vehicle. Acquired by Starboard on May 20, 2022 from the Stoa Group (represented by Albert Elmore of Colliers International) at a reported $76.9M sale price. Located in Gonzales, LA just south of Baton Rouge in Ascension Parish. Amenities include resort-style pool, 24-hour fitness center, clubhouse, dog park, and gated entrance.
336 units1.71×Equity multiple · as reported by the sponsor
71.0%Total return · as reported by the sponsor
11.1%Annualized return · as reported by the sponsor
$45,500,000Sale price · as reported by the sponsor
Supporting evidence
How is it financed, and what does it pay?
The Form D classifies the securities offered as equity.3 No mortgage, lender, or loan terms for this Trust appear in the public record, so whether the Trust carried debt cannot be established from filings.
Who's behind it?
Starboard Realty Advisors, whose CEO is William H. Winn, sponsored the Trust; the filing names Starboard Silver Oaks Depositor, LLC as depositor and Starboard Silver Oaks Manager, LLC as administrative trustee.2 On October 23, 2024 the sponsor announced a full-cycle disposition of Silver Oaks for $45.5 million, reporting a 1.71x equity multiple and a 71% total return.7 No buyer or recorded closing date for that sale appears in the public record.
- Sponsor
- Starboard Realty Advisors
- Legal Trust name
- Starboard Silver Oaks 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 holds an original notice and a single amendment that updated the Offering's reported progress.3 Interests were offered under Rule 506(b) — a private placement sold to accredited investors without general advertising — against a $49,750,000 total offering, with a first sale dated August 23, 2022 and a $25,000 minimum investment.3
- 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 Silver Oaks Apartments?
Top1031 lists Silver Oaks Apartments as historical. It is no longer raising money.
Where does Top1031 get the data for Silver Oaks 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.
Can I still invest in Silver Oaks Apartments through this Trust?
No. Starboard Realty Advisors announced a full-cycle disposition of Silver Oaks on October 23, 2024, and the last Form D notice on file with the SEC was filed December 30, 2022. The Trust is closed to new investors, and the Offering was never reported as fully subscribed in its filings.
What outcome did the sponsor report?
Starboard Realty Advisors reported a full-cycle sale of Silver Oaks announced October 23, 2024 at a $45.5 million price, together with a 1.71x equity multiple, a 71% total return, and an 11.1% annualized return. Those figures are sponsor-reported; no independent record of the buyer or a recorded closing date has been located.
What did Starboard pay for the property?
The Advocate reported that Starboard Realty Advisors bought the 336-unit Silver Oaks complex from the Stoa Group in a deal that closed in May 2022 for approximately $76.9 million. Starboard's own announcement dated the acquisition May 20, 2022.
Was the Trust leveraged?
The public record does not say. The Form D reports equity securities only, and no mortgage, lender, or loan terms for Starboard Silver Oaks DST appear in the filings or in independent reporting. A prospective investor would have looked to the private placement memorandum (PPM), the offering's governing disclosure document, for the capital structure.
Who was the tenant?
There was no single corporate tenant. This is a multifamily community, so income came from individual apartment leases. Starboard reported the property was 98.21% leased when it was purchased in May 2022. No trust-level master lease or named property operator appears in the public record.
What was the minimum investment?
The Form D reports a $25,000 minimum outside investment, against a $49,750,000 total offering under Rule 506(b), which permits sales to accredited investors without general solicitation or advertising.
Chapter 9Starboard Buys Louisiana Multifamily Property, Sells California Retail PropertyTrade-press article confirming Starboard's purchase of the 336-unit Class A Silver Oaks multifamily property in Gonzales, LA. Starboard Realty Advisors acquires garden-style apartment community in Gonzales, LouisianaPress release announcing Starboard's May 20, 2022 acquisition of Silver Oaks, a 336-unit, Class A, garden-style apartment community in Gonzales, LA. Gonzales complex sells for $76.9 million; is one of bigger apartment deals in areaLocal newspaper reporting on the May 2022 sale of Silver Oaks Apartments to Starboard Realty Advisors for $76.9M, with the Stoa Group as seller and Albert Elmore of Colliers representing the seller.