Cantor Fitzgerald announced on January 19, 2023 the sale of Rivertop Apartments in Nashville, Tennessee, on behalf of investors in CF Arrabella Multifamily DST, closing what the release describes as an approximately three-year hold.
The sale produced a total return of 137% of aggregate original investment, as reported by the sponsor in its January 19, 2023 release. The same release states a 12% IRR, as reported by the sponsor in the announcement as distributed on PR Newswire. Top1031's record also carries an equity multiple of 1.37x, as reported by the sponsor and listed on Baker 1031's Cantor Fitzgerald page.
The Trust as it stands in its Form D:
Item | As filed |
|---|---|
Sponsor | Cantor Fitzgerald |
Asset class | Residential |
Exemption | 506(b) |
Offering amount | $58,492,000 |
Minimum investment | $250,000 |
First Form D filing | June 28, 2022 |
CIK | 1935650 |
The filing dates do not sit flat against the sponsor's approximation. Measured from that first filing to the exit, Top1031's record carries the hold as 0.6 years. No source in the record states why the two differ.
The Trust's private placement memorandum, which would state the distribution terms, is not a public document, and the Form D carries no performance figures. No sale price was disclosed.