The apartment property behind CF Arrow Canyon Multifamily DST sold on April 28, 2021. The Delaware Statutory Trust (DST) filed its Form D on March 13, 2018, and Top1031 matches the disposition to a completed row on the Cantor Fitzgerald track record carrying a different marketing title: CF Norterra Canyon Multifamily DST. The sponsor announcement the record cites is published as the sale of Norterra Canyon apartments in North Las Vegas, Nevada.
Top1031's record places the hold at 3.2 years. Computed from the first filing date to the exit date, the hold is 3.1 years. This report uses 3.2 years, the figure the record itself carries.
The offering as filed | |
|---|---|
Trust name on the Form D | CF Arrow Canyon Multifamily DST |
Sponsor named | CF Arrow Canyon Manager |
First filing date | March 13, 2018 |
Offering amount | $38,780,000 |
Minimum investment | $25,000 |
Exemption | 506(b) |
Asset class | Residential |
Form D |
Everything on the public record about the result traces to a single sponsor announcement, and Top1031's record marks each figure taken from it at medium confidence. This report relies on that announcement, the sponsor's own dated statement of the outcome, for each of the four.
The result as reported | |
|---|---|
Sale price | $86,500,000, as reported by the sponsor in its announcement of the sale |
Total proceeds | 135% of investors' aggregate original investment, as reported by the sponsor in its announcement of the sale |
Annualized return | 12.2%, as reported by the sponsor in its announcement of the sale |
Equity multiple | 1.37x, as reported by the sponsor in its announcement of the sale |
What the record does not carry is as much of the picture. There is no acquisition price for the property, and no basis for the sponsor's calculations: which investor the return figures describe, and how fee structure, date of investment, or any post-closing holdback bears on them, is not established here. The Form D carries no performance figures, and no offering document in the record sets out the distribution terms the memorandum stated.
For CF Arrow Canyon Manager, the sponsor entity named on the Form D, this is the first full-cycle disposition on Top1031's record. Anyone reconstructing the outcome from EDGAR alone meets only the Arrow Canyon name, and the completed track-record row carries only the Norterra Canyon one. No document in the record explains the difference.