Carter Exchange brought CX Station at Savannah Quarters, DST full cycle with a property sale on May 24, 2023. Before that sale, Top1031's record carried no completed full cycle for the sponsor. Carter Exchange lists the Trust as a completed program on its published full-cycle track record.
Term | Figure |
|---|---|
First Form D filing | |
Exemption | 506(b) |
Industry classification on the Form D | Other Real Estate |
Offering amount | $21,173,843 |
Minimum investment | $25,000 |
Sale price | $62,500,000, as reported by the sponsor in its 2024 sell book |
Equity multiple | 1.75x, as reported by the sponsor in its 2024 sell book |
Annualized return | 32.67%, as reported by the sponsor in its 2024 sell book |
Total return | not stated |
Top1031's record puts the hold at 2.8 years. Measured from the Trust's first Form D filing to the sale date, the record supports 2.4 years. No document in the record states what start date the 2.8-year figure uses, so both are reported here as the record carries them.
The Form D's industry classification is the only asset description the public record carries. It does not say what the property is or where it stands. The Form D also carries no performance terms, and the private placement memorandum that would state the original distribution terms is not a public document, so what the offering told investors at the outset cannot be set beside what the sponsor now reports.