Inland Private Capital's published residential full-cycle track record lists Bradenton Multifamily DST among its completed programs, dating the sale of Lost Creek Resorts at Lakewood Ranch Apartments in Bradenton, Florida to June 12, 2017. The Delaware Statutory Trust (DST) filed its first Form D on November 2, 2012.
Measured from that filing to the disposition date, the hold ran 4.6 years. Top1031's record carries a second measure of the same hold, 4.67 years. The two differ, and this report relies on the 4.6-year figure because both of its endpoints are documented; the record does not state what the 4.67-year figure measures.
The offering as the Form D described it:
Item | As filed |
|---|---|
Trust | Bradenton Multifamily DST |
Sponsor | Inland Private Capital |
First Form D | November 2, 2012 |
Offering amount | $22,450,085 |
Minimum investment | $25,000 |
Exemption | 506(b) |
Industry group as filed | Other Real Estate |
Source: Form D, filed November 2, 2012.
What Inland Private Capital (IPC) reports on the disposition:
Item | Reported |
|---|---|
Gross sale price | $50.5 million, as reported by the sponsor (residential full-cycle track record) |
Total return | 152.49%, as reported by the sponsor (residential full-cycle track record) |
Average annualized return | 11.26%, as reported by the sponsor (residential full-cycle track record) |
All three figures rest on a sponsor announcement basis and carry medium confidence in Top1031's record. No filed document corroborates them: the Form D carries no performance figures of any kind, and the offering's original distribution terms were set out in the private placement memorandum, which is not a public filing. The record also carries nothing further about the transaction itself. There is no net proceeds figure for investors, no mortgage balance outstanding at the sale, no buyer, and no separation of operating distributions from sale proceeds.
This is the sixth full-cycle disposition on the record for IPC, after five prior. That count tracks dispositions Top1031 has on the record, not the sponsor's full program history.