Brantley Pines sold to Interface Properties. Top1031's record dates the disposition July 1, 2024 and ties the property to Florida Multifamily Portfolio III DST, a Delaware Statutory Trust (DST) that held three Florida apartment communities.
The property came to market as part of a group. Inland Private Capital Corporation put all three of them - Rivertree, Cypress Pointe, and Brantley Pines - up for sale in July 2023 at $168.5 million, per the exclusive listing announcement. Brantley Pines is the only one of the three the record shows changing hands. Rivertree and Cypress Pointe carry no recorded disposition.
Item | Record |
|---|---|
Sponsor named in the filing | Florida Multifamily Portfolio III Exchange |
First Form D filed | December 1, 2021 |
Exemption claimed | 506(b) |
Offering amount, maximum | $119,790,465 |
Minimum investment | $25,000 |
Asset class as classified | Other Real Estate |
Hold, first filing to disposition | 2.6 years |
Brantley Pines sale price | $57,000,000, as reported by the sponsor and carried in Multi-Housing News' report |
The Form D names no property, and no announcement on the record states a result for the Trust. There is no total return on the record, no annualized return, and no equity multiple. The sale price is the only figure the disposition carries.
The name on the listing announcement is not that name, and nothing on the record explains how the two relate. What the investors in this Trust received on the Brantley Pines sale is not in any document on the record.