Top1031

The Reserve Apartments & Townhomes

Multifamily property in Evansville, IN · sponsored by Thompson National Properties

Historical · soldSold Jul 2019 · last Form D Oct 5, 2012 (opens in a new tab)

The Reserve Apartments & Townhomes was a DST sponsored by Thompson National Properties that owned a multifamily property in Evansville, IN (158 units). Sold Jul 2019.

How it ended

Sold, no result reported

Sold Jul 2019.

Date
Jul 1, 2019
Held
6.7 years

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$7,150,000
Equity offered, per the Form D
Sold
30.4%
Form D, Oct 5, 2012; the % is our arithmetic
Investors reported
9
Form D, Oct 5, 2012
Selling commissions
$429,000 · 6.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
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: The Reserve Apartments & Townhomes. Top1031 is not a broker-dealer.

What did the Trust own?

The Reserve sits at 700 Reserve Blvd. in Evansville, Indiana, and was built in phases between 2008 and 2010 with one-, two-, and three-bedroom layouts ranging from 763 to 2,114 square feet. 2 SC Bodner Company sold the community to Thompson National Properties in September 2012 in a transaction brokered by Marcus & Millichap. The community is still marketed for rent under the same name, with availability listed as of February 13, 2026. 6

Reported location
Evansville, IN
Property size
158 units

How was it financed, and what did it cost to sell?

This is a leveraged trust: Thompson National Properties reported that the acquisition was financed with a fixed-rate Fannie Mae loan. 2 Leverage means investor equity sits behind mortgage debt, and the lender's terms govern refinancing and the timing of any sale.

Debt

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

Costs and terms from the Form D

Selling commissions
$429,000 · 6.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$0 · 0.0% of offering
Form D Item 16
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Aug 31, 2012
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.

What does the SEC record show?

The paperwork trail is short: the Form D notice — the brief SEC filing that reports an exempt private placement — records a first sale on August 31, 2012, and no amendment has followed. 3 Interests were offered privately, without public advertising, to accredited investors meeting SEC income or net-worth tests.

Legal Trust name
Thompson/Post Reserve Apartments, DST
SEC CIK
1559329
First Form D
Oct 5, 2012
Latest Form D
Oct 5, 2012
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D$7,150,000
$2,176,003
9
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 The Reserve Apartments & Townhomes?
The Reserve Apartments & Townhomes is a Historical offering. Sold Jul 2019.
Did this trust go full cycle?
Not established. The cited buyer page dates its acquisition of the matching Evansville community to July 1, 2019 but does not name the seller. The cited sources do not establish that this was a disposition by this exact Trust.
What does the master lease mean for a multifamily DST?
Apartment residents sign short-term leases, which a DST cannot actively manage without jeopardizing its tax treatment. A master lease places a single operating entity between the trust and the residents, so the trust receives rent under one lease while the master tenant handles leasing and operations. The offering excerpts do not name that master tenant.
Who is behind the trust?
Thompson National Properties, LLC of Irvine, California sponsored the offering, and its Form D lists both Thompson National Properties, LLC and Post Investment Group, LLC as directors and promoters. Thompson/Post Reserve Apartments Investments, LLC is listed as a further promoter.
Who can invest in a Rule 506(b) offering like this one?
Rule 506(b) is the private-placement exemption that bars general advertising and limits sales to accredited investors — individuals or entities meeting SEC income or net-worth thresholds — typically approached through an existing relationship with the sponsor or a placement broker. The offering documents, not the Form D, carry the full terms.

In the news

Sources

Show sources (9)Hide sources (9)

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

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.