Silver Oaks Apartments
Multifamily property in Gonzales, LA · sponsored by Starboard Realty Advisors
Silver Oaks Apartments was a DST sponsored by Starboard Realty Advisors that owned a multifamily property in Gonzales, LA (336 units). Its last Form D was filed Dec 30, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed Dec 30, 2022.
Starboard Realty Advisors has 2 active offerings on record →
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $49,750,000Equity offered, per the Form D
- Sold
- 27.1%Form D, Dec 30, 2022; the % is our arithmetic
- Investors reported
- Form D, Dec 30, 202235
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,985,000 · 6.0% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
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 →
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Ask a 1031 specialist about this recordFree. About: Silver Oaks Apartments. Top1031 is not a broker-dealer.Silver Oaks Apartments · Gonzales, LA · Photo: bloximages.newyork1.vip.townnews.com
What did Silver Oaks Apartments own?
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
How was it financed, and what did it cost to sell?
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.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $2,985,000 · 6.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $4,850,440 · 9.7% of offeringForm D Item 16· The filing’s note: “Estimate of certain fees, including the Due Diligence Allowance, Placement Agent Fee, Marketing Allowance, Organization Costs and Sponsor Acquisition Fee that may accrue to one or more related persons.”
- Broker-dealers named in the Form D
- 9 named in the Form D
Show the firms
- Aurora Securities · CRD 46147
- Capulent LLC · CRD 155155
- Concorde Investment Services, LLC · CRD 151604
- DAI Securities, LLC · CRD 36673
- FNEX Capital, LLC · CRD 166316
- Orchard Securities, LLC · CRD 133378
- TCFG Wealth Management, LLC · CRD 164153
- Wealthforge Securities, LLC · CRD 152550
- Willow Cove Investment Group, Inc. · CRD 107824
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Aug 23, 2022
- 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.
Who's behind Silver Oaks Apartments?
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
- Sponsor
- Offerings on record
What does the SEC record show?
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
- Legal Trust name
- Starboard Silver Oaks DST
- SEC CIK
- 1945300
- First Form D
- Sep 7, 2022
- Latest Form D
- Dec 30, 2022
- Filings on record
- 2
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $49,750,000 | $13,497,642+$7,618,675 | 35+30 | EDGAR | |
| Form D | $49,750,000 | $5,878,967 | 5 | 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 Silver Oaks Apartments?
- Silver Oaks Apartments is a Historical offering. Last Form D filed Dec 30, 2022.
- Has a sale or investment return been verified?
- We have not verified a sale date or investment returns for this Trust from a primary source. Top1031 withdrew its earlier full-cycle claim on September 8, 2026.
- 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 offering documents 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.
In the news
Sources
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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.