BC Exchange Suniland DST reached full cycle in December 2021. The exit the documents indicate for the Delaware Statutory Trust (DST) is a Section 721 UPREIT exchange, a contribution to a REIT in exchange for operating-partnership units. Top1031 carries December 1, 2021 as the disposition date; the record reviewed does not show which document fixes that date.
Two documents place the Trust inside Ares-named entities. A DTCC Important Notice dated December 24, 2021 (a9092) records the Suniland position moving from Black Creek Exchange LLC and BC Exchange Suniland DST to Ares Diversified Real Estate Exchange LLC and BC Exchange. Suniland entities then appear in Ares Real Estate Income Trust's SEC subsidiary lists for 2022, 2023 and 2024. Both postdate the disposition date, and the platform names changed following Ares's acquisition in July 2021.
The offering as filed | |
|---|---|
Trust | BC Exchange Suniland DST |
Sponsor | Black Creek Exchange |
Form D of record | |
Exemption | 506(b) |
Total offering amount | $79,614,325 |
Minimum investment | $500,000 |
Asset class on the Form D | Other Real Estate |
No sponsor full-cycle release for the Trust was located. Nothing in the record reviewed states a disposition value, a total return, or an equity multiple, and the offering's distribution terms are not in that record either. What the Trust raised is not shown. Neither is the real estate: no document reviewed names the property the Trust held.
This is the first full cycle Top1031 records for Black Creek Exchange. The record shows where the position went and when. It does not show what investors received.