Every Active Trust on Top1031 carries a Raise Stage, a short label describing where its capital raise stands right now. It sits next to the property name on list and detail pages. This guide explains what the four Raise Stage values mean, where the underlying data comes from, and what is and is not visible without an account.
Active comes first
A Trust on this site is either Active, meaning it is currently raising capital from investors, or Historical, meaning it is past its raise, whatever happened next. Raise Stage only applies to Active Trusts; a Historical Trust's story is told through its Exit instead.
The four Raise Stage values
- Raising. The Offering is open and taking new investment, based on the most recent filing data connected to it.
- Almost gone. The Offering is open, but filing data suggests it is close to selling out.
- Just launched. The Offering opened recently enough that little history exists yet.
- Unverified. A recent enough filing update has not yet been connected to place this Offering confidently in one of the other three stages.
Unverified is not a signal about the Sponsor or the property. It describes our own data coverage: the most recent filing update we can confirm did not give us enough to assign a more specific stage.
Where the underlying numbers live
Behind the Raise Stage label sits a fuller Offering picture: the total Offering size, how much has sold, how much remains, the investor minimum, and the number of investors so far. That detail lives in the Financials Panel on each Trust's page, and it unlocks after free registration. The Raise Stage label itself is visible to everyone; the numbers behind it are part of what an account reveals.
When an Offering closes for good
An Offering that sells out entirely earns a different, permanent status: Fully Subscribed. Unlike the four Raise Stage values, a Fully Subscribed flip is confirmed by outside reporting, such as a press release or trade-press coverage, rather than inferred from a gap in filing data. Once an Offering is Fully Subscribed, the Trust eventually moves from Active to Historical as its page shifts from raising capital to what happened to the property afterward.
The bottom line
Raise Stage is a filing-based read of how open an Active Offering still is, refreshed as new SEC data arrives. It says nothing about the Sponsor behind it or the merits of the property; for that, the Offering documents, the Sponsor's own record, and your own advisors remain the sources that matter.
Frequently asked questions
Is Raise Stage the same as the Top1031 Grade?
No. Raise Stage describes an individual Active Offering's current sales status. The Grade describes a Sponsor's documented history across all of its Programs. The two are unrelated measurements.
Why does an Offering show as Unverified instead of a specific stage?
Unverified means the most recent connected filing update did not give us enough information to place the Offering confidently into Raising, Almost gone, or Just launched. It reflects a gap in our data coverage, not a problem with the Offering itself.
Can I see the exact amount sold and remaining without an account?
The Raise Stage label is visible to everyone. The underlying Offering numbers, including amount sold, amount remaining, minimum investment, and investor count, are part of the Financials Panel, which unlocks after free registration.