The Banks on Bradley

Top1031 lists The Banks on Bradley as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.

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.

A 144-unit apartment community called The Banks on Bradley, at 355 Bradley Blvd in Richland, Washington, in the Tri-Cities region. Sponsor materials describe it as a Class A, garden-style, low-rise community completed in 2024 with approximately 105,516 net rentable square feet.[2] The Tri-Cities Area Journal of Business reported on December 13, 2024 that construction had recently been completed and identified Starboard Realty Advisors as the builder.[1] One caution on public records: the Benton County property record listing STARBOARD BRADLEY DST as owner displays a location address of 425 Bradley Boulevard, not 355, and the sources reviewed do not resolve that discrepancy.[5]

There is no single corporate tenant; individual residents lease apartments. Sponsor materials state the property is master-leased to Starboard Bradley MT LLC, a wholly owned subsidiary of the sponsor, which subleases units to residents and serves as day-to-day operator.[2] A DST is barred from actively operating real estate, so a sponsor-affiliated master tenant typically stands between the trust and its residents, and investor distributions depend on that affiliate performing under the master lease. Separately, the property's own website identifies Avenue5 Residential, LLC in connection with the community; that page carries no date and does not displace the sponsor-reported master-tenant structure.[6]

No, not as of the last verified measurement. Sponsor materials report 88.9% occupancy on the February 2, 2026 rent roll and state the property remained in the latter stages of lease-up.[2] A property still leasing up carries absorption and concession exposure that a stabilized asset does not. The sources reviewed as of September 4, 2026 contain no verified occupancy figure later than February 2, 2026.

Sponsor materials state the Trust acquired The Banks on Bradley on November 26, 2025 from an affiliate of the sponsor rather than from an unrelated third party.[2] The affiliate is not named in those materials, and no deed or purchase agreement identifying the seller was located. Separately, broker blog Multifamily Mason reported that Banks on Bradley sold in a new-construction transaction at $34,500,000, or $239,583 per unit, to what it described as an LA-based DST equity partner.[4] An affiliate purchase means the price was not set by arm's-length negotiation between unrelated parties; the PPM (private placement memorandum, the governing offering document) is where those conflicts are disclosed.

The sponsor's offering summary reports $19,298,000 of debt and total capitalization of $41,868,000, with an in-place loan-to-value ratio of 46.09%.[2] It identifies the debt as a $19,298,000 KeyBank National Association loan under the Freddie Mac Conventional Fixed Rate Program, fixed at 5.11% and maturing December 1, 2035.[2] Those are sponsor-stated figures as of that page's May 20, 2026 update, not independently audited, and the sources reviewed do not reconcile the $41,868,000 total capitalization with the offering amount in the SEC Form D. The loan documents and the PPM control.

The Form D filed March 2, 2026 is the Trust's original notice to the SEC, reporting the issuer as Starboard Bradley DST, a Delaware statutory trust organized in 2025, with CIK 0002105462.[3] It states a $25,000 minimum investment from any outside investor and estimated sales commissions of $1,354,200. Marketing material summarized in this record lists a $100,000 minimum, and the sources reviewed do not reconcile the two figures — confirm the operative minimum and current availability with the sponsor or a broker-dealer carrying the offering.