Correction (October 4, 2026): an earlier version used a market or sponsor median without establishing a DST-only comparison population. This version uses likely 1031 DST issuers.
The first sale in AX Diversified Retail Portfolio, DST was dated July 17, 2026. Across the filings on record, the offering has not sold enough for a pace figure to exist.
Raise velocity, as Top1031 computes it, is the count of days from that first sale to the amendment that first reports half the ceiling sold, and then to the amendment reporting 90%. It comes from the filing dates and nothing else. This Delaware Statutory Trust (DST) sits below the first of those thresholds, so both counts stay open.
Form D filing | Date | Amount sold | Investors | Share of $89,517,000 ceiling |
|---|---|---|---|---|
Initial | $1,142,216 | 1 | 1.3% | |
Amendment | $6,016,254 | 8 | 6.7% | |
Amendment | $14,772,450 | 25 | 16.5% |
As of October 4, 2026, the September filing is the latest, and amounts are as the filings report them, which can lag subscriptions. The direction has been consistent. The distance has not: most of the ceiling remains unsold. No downward amendment appears in this record, and the ceiling reads the same in every filing on record.
Apollo's own history is the nearest comparison, and a thin one. The sponsor reached half the ceiling at a median of 139 days from first sale, and 90% at a median of 262 days. The market medians, drawn from 864 programs in the likely 1031 DST cohort, are 107 days and 181 days. Apollo's history is the slower of the two sets, and it rests on so few programs that it is a median in name more than in weight.
The offering is sold under Rule 506(b), which conditions the exemption on the absence of general solicitation. What the filings do not carry is the real estate. Form D names an asset class, here "Other Real Estate," and carries no property, distribution or performance disclosure. The one subscription term in the record is a $25,000 minimum investment. The PPM will state the rest.
The next amendment decides the metric. If it reports half the ceiling sold, the days-to-half count becomes computable and can be set beside 139 and 107. If it reports another increment short of that, the pace stays unreadable and the record simply lengthens. Either reading measures how quickly equity arrived, which is a fact about demand and not about the property's performance or what Apollo later reports to the investors who bought in.