Capital Square sold the property held by CSRA Ashford Club Apartments, DST, taking the offering full cycle. Top1031 carries the disposition as a property sale dated June 1, 2019, not a 721 roll or any other structure. The sponsor announced the outcome in a release published in June 2019; the record establishes the month of that release, not the day.
The Form D carries an equity figure and nothing else about the capital stack. It says nothing about debt on the property, and Form D does not ask, so the offering amount below and the sponsor's reported sale price are not quantities that sit on the same line.
Item | Record |
|---|---|
Trust | CSRA Ashford Club Apartments, DST |
Sponsor | Capital Square |
Asset class | Residential |
Exemption | 506(b) |
First Form D filed | May 16, 2013 |
Total offering amount, as filed | $3,000,000 |
Minimum investment | $30,000 |
Disposition type | Property sold |
Disposition date | June 1, 2019 |
Hold period from those dates | 6 years |
Sale price | $11,385,000, as reported by the sponsor in its June 2019 release |
Total return on equity | 170%, as reported by the sponsor in its June 2019 release |
Annualized return | 11.74%, as reported by the sponsor in its June 2019 release |
Equity multiple | 1.7x, as reported by the sponsor in its June 2019 release |
No original set of terms sits beside those figures. A 506(b) offering's private placement memorandum is not filed with the SEC, and the Form D carries no distribution terms, so the filing record holds nothing to place next to what the sponsor reports.
Nor does the record Top1031 carries include an acquisition price for the property, which means the basis underlying the reported return on equity is not stated anywhere the reader can check. The Form D does not identify the property itself: no address, no unit count, no acquisition date appears in the offering record.
Ahead of this sale, Top1031's filing-matched record carried one prior Capital Square full cycle. This disposition makes two. Capital Square lists the program among the completed offerings on its published track record, which is the second of the two documents carrying the outcome, and both originate with the sponsor.
The May 16, 2013 filing date is verifiable in EDGAR. The disposition date and every performance figure here rest on Capital Square's own accounting.