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 of interests in BREX Net Lease Data Center I DST was recorded on August 3, 2026. Three amendments have followed. What none of them yet contains is a pace.
Raise velocity, as Top1031 computes it for a Delaware Statutory Trust (DST) offering, is the count of days from the first sale to the filing that reports half the ceiling sold, and again to the filing that reports 90%. This Trust has reached neither mark, so no velocity figure exists for it as of October 4, 2026. The metric is censored. That is a statement about the calendar, not about demand.
What the record does show is the path:
Form D filed | Amount sold | Investors | Share of $58,979,841 ceiling |
|---|---|---|---|
$2,297,256 | 7 | 3.9% | |
$4,464,226 | 12 | 7.6% | |
$7,810,315 | 17 | 13.2% | |
$11,656,381 | 26 | 19.8% |
Each line is as of its own filing date and can lag subscriptions already taken. Every filing so far has added both dollars and investors, and none has moved the ceiling the initial notice set. No downward amendment appears in the record. The Trust is offered under Rule 506(b), with a minimum investment of $100,000; that exemption governs how the offering may be marketed and says nothing about whether the purchasers were previously known to the Sponsor or to a selling broker-dealer, which the record does not address.
The pace has two reference points: Brookfield's prior programs, and a market median restricted to programs Top1031 flags as likely 1031 DST offerings rather than drawn from all Form D issuers.
Milestone | Brookfield prior programs | Likely 1031 DST market |
|---|---|---|
Programs in the median | 3 | 864 |
Median days to 50% sold | 137 | 107 |
Median days to 90% sold | 206 | 181 |
Brookfield's own raises have run slower than the market at both milestones. Read that carefully: the sponsor median rests on so few programs that it is a sketch rather than a norm, and a median built from hundreds of other sponsors' offerings says nothing about the asset any one of them held. Neither column is a standard this Trust is failing or beating. Demand is demand. A raise that fills quickly is subscribed, not proven, and a raise that fills slowly may simply be meeting a smaller buyer pool in a narrower asset class.
On the asset, the form is silent by construction. Form D has no field for the property, the tenant, the lease term, or the distribution terms. The name points to a net leased data center; everything behind it belongs to the private placement memorandum.
The next amendment is the one that matters. If it carries the raise far enough, this offering stops being an open question beside those two columns and becomes a number in them.