The first sale in FREX DB Series I DST is dated April 15, 2026. Across the 3,365 programs in Top1031's raise record, the median run from first sale to half the stated ceiling is 18 days. This raise is months past that and still short of half.
Raise velocity is a pace metric Top1031 computes from an offering's own Form D amendments: the days from the first reported sale to the point where 50% of the stated ceiling is sold, and then to 90%. FREX DB Series I DST has reached neither mark, so there is no day count to publish for it.
Filing | Date | Sold (of $40,178,939) | Investors | % of ceiling |
|---|---|---|---|---|
Notice | $100,000 | 1 | 0.2% | |
Amendment | $2,191,772 | 6 | 5.5% | |
Amendment | $2,731,772 | 9 | 6.8% | |
Amendment | $4,852,206 | 18 | 12.1% | |
Amendment | $6,398,579 | 24 | 15.9% |
Every amendment since the notice has added dollars and investors both. What none of them has added is speed. Why the raise has moved as it has, the filings do not address; they are notices of sales, not explanations of them.
And a median is a blunt instrument. It pools every asset class and every distribution channel into a single number, which is what makes it available when nothing closer is.
Demand is all that a pace measures. It is not a return, the Form D carries no performance figures, and a raise that fills is subscribed rather than proven. The same restraint applies in the other direction: a raise still short of half says nothing about the property or about the eventual result for investors. Amount sold is what each notice reports as of the day it was filed, and it can lag.
The file is thin on what a closer comparison would need. The offering is classified as Other Real Estate, and no property, market or sector appears in the record, so this pace can be set against a net-lease or multifamily raise on the calendar and on nothing else. The minimum investment is $25,000. Fortress Real Estate Exchange claims 506(c), so general solicitation is permitted here.
No downward amendment appears in the record: the offering amount in the May 7, 2026 notice is the offering amount in the August 25, 2026 amendment, unchanged through every filing between. The next amendment is where that holds or does not, and where the half-ceiling mark either arrives with a date attached or does not.