Every Number on This Site Points to Its Source
Top1031 is a directory built from public filings, not a marketing brochure. Each fact that appears on a Trust or Sponsor profile — an offering size, a property address, a raise stage, a full-cycle exit date — is meant to trace back to a citable document: an SEC EDGAR filing, a sponsor press release, a county recorder record, or a third-party news report [1][2].
When a fact cannot be traced to one of these sources, the site either omits it entirely or states plainly that the record could not be located.
Filings Are the Backbone
The primary source for most DST facts is the SEC's EDGAR system. Sponsors selling DST interests under Regulation D file a Form D notice disclosing the offering amount, the issuer, and related parties [1]. Later amendments update those same figures as an offering proceeds or closes. Because these filings are dated, public, and machine-readable, they are the single most reliable layer of the directory and the one most citations point to.
Sponsor Press Releases Fill In What Filings Don't Say
Filings disclose structure and dollar amounts; they rarely describe a property, a tenant roster, or the story behind an acquisition. For that, the directory draws on sponsor press releases and trade press coverage, syndicated through outlets that cover the alternative-investment and net-lease sectors [2]. Any performance figure that originates from a sponsor — a stated return, a distribution rate, an equity-multiple — is always labeled "as reported by the sponsor" next to a citation, because Top1031 does not calculate or estimate those figures itself.
What an Unsourced Field Means
Some fields on a profile are simply blank, or state that no public evidence was found for a claim.
That phrasing is deliberate: an absence is not a cited fact, and the directory does not attach a citation marker to a statement that something could not be located, because doing so would misrepresent absence as a sourced conclusion.
The Same Standard Behind the Grade
The Top1031 Grade methodology applies the identical rule: every input that feeds a letter outcome is either a filing fact, a sponsor-stated figure with its own citation, or a documented absence. The site's methodology page describes how those inputs are weighted and what evidence depth is required before a Program is scored at all.
References
[1] https://www.sec.gov/resources-small-businesses/exempt-offerings/regulation-d
[2] https://www.sec.gov/edgar/search/
Frequently asked questions
Does Top1031 calculate returns or performance figures itself?
No. Any performance figure on the site — a distribution rate, an equity multiple, an appreciation percentage — originates from the sponsor's own disclosure and is labeled "as reported by the sponsor" next to a citation to that disclosure.
What happens when a fact can't be verified from a public source?
The field is left blank, or the profile states plainly that no public evidence was found. That absence is not written as a cited fact, since a missing record and a sourced record are different kinds of claims.
Why do citations matter more here than on a typical investment website?
Because the reader is comparing sponsors and offerings under a deadline, and unverifiable claims are exactly the failure mode this category is known for. Every fact traces to a document a reader can open themselves.