Inland Private Capital sold Brantley Pines, a 296-unit multifamily property in Fort Myers, Florida, held by Fort Myers Multifamily DST, the sponsor announced on July 10, 2024. The Trust returned a 1.37x equity multiple to investors, as reported by the sponsor in that announcement. It puts the internal rate of return to investors at 6.45%, as reported by the sponsor in the same news release. AltsWire covered the disposition on July 12, 2024.
Offering as filed | |
|---|---|
Sponsor | Inland Private Capital |
Trust | Fort Myers Multifamily DST |
Form D filed | |
Exemption | 506(b) |
Maximum offering amount | $23,971,364 |
Minimum investment | $25,000 |
Industry classification on the Form D | Other Real Estate |
Disposition on record | |
Exit type | Property sold |
Exit date | July 10, 2024 |
Hold, first filing to announced sale | 5.4 years |
No sale price appears on the public record, so the disposition value cannot be stated. The documents that set the Trust's distribution terms are not public either. A 506(b) offering is sold without general solicitation, and the Form D records the minimum investment and the offering ceiling and nothing about distributions, which leaves the private placement memorandum's terms unreadable against the sponsor's reported result from filings alone.
The announcement states no reason for the outcome, and no other source on the record supplies one.