BC Exchange The Palms DST ended as a Section 721 UPREIT roll, a contribution to a REIT in exchange for operating-partnership units. The Delaware Statutory Trust (DST), offered by Black Creek Exchange, appears as a directly listed subsidiary of Ares Real Estate Income Trust Inc., formerly Black Creek Diversified Property Fund Inc., alongside the Manager, Master Tenant, TRS and Lender LLCs assembled around it.
Offering as filed | Record |
|---|---|
Trust | BC Exchange The Palms DST |
Sponsor | Black Creek Exchange |
First Form D | February 12, 2021 |
Exemption | 506(b) |
Total offering amount | $87,438,017 |
Minimum investment | $500,000 |
Asset class recorded | Other Real Estate |
Exit date, per the record | January 1, 2022 |
Hold period | 0.9 years, from first Form D to the exit date the record shows |
The Form D carries no property description, and "The Palms" is the whole of what the public record says about the asset. Neither its location nor its type is disclosed anywhere Top1031 could find.
No filing in the record dates the contribution. The exhibit that evidences the roll does not state the value assigned to the DST interests when they entered the operating partnership, and no disposition value or return figure appears anywhere in the record for this offering. The Form D sets out the terms of the raise and nothing about its end.
Black Creek Exchange lists the program as completed on its published track record. The terms of that completion are not in it.