FREX Series II DST, whose property is in Greensboro, North Carolina, is offering up to $32.62 million at a minimum investment of $25,000. Fortress Real Estate Exchange sponsors the Trust; the Form D, filed October 28, 2026, reports $951,840 sold to two investors.
Field | Detail |
|---|---|
Trust | FREX Series II DST |
Sponsor | Fortress Real Estate Exchange |
Property | not stated |
Asset type | not stated |
Location | Greensboro, NC |
Offering amount (maximum) | $32,623,464 |
Minimum investment | $25,000 |
Amount sold (as of October 28, 2026) | $951,840 |
Investors | 2 |
Exemption | Rule 506(c) |
Sales commissions | $3,262,347, estimated |
Recipient of sales compensation | Orchard Securities, LLC |
Date of first sale | October 16, 2026 |
Form D filed | October 28, 2026 |
Trust
FREX Series II DST
Sponsor
Fortress Real Estate Exchange
Property
not stated
Asset type
not stated
Location
Greensboro, NC
Offering amount (maximum)
$32,623,464
Minimum investment
$25,000
Amount sold (as of October 28, 2026)
$951,840
Investors
2
Exemption
Rule 506(c)
Sales commissions
$3,262,347, estimated
Recipient of sales compensation
Orchard Securities, LLC
Date of first sale
October 16, 2026
Form D filed
October 28, 2026
The sales commissions figure, which the filing marks as an estimate, equals 10.0% of the maximum offering; the median across DST Form D filings in the past year is 7.0%.
Fortress Real Estate Exchange has one other active offering, Domain at Town Centre in Morgantown, West Virginia, listed as student housing (West Virginia University).
Fortress announced the acquisition of University Village on September 2, 2026, for the Fortress Real Estate Exchange platform. That announcement describes a 600-bed, 203-unit student housing community in Greensboro serving students at UNC Greensboro and North Carolina A&T State University. Neither the announcement, the coverage of it, nor the Form D names University Village as this Trust's asset.
Reported prices for that acquisition differ, and none of the reports tie a price to FREX Series II DST. JournalNow reported $51.4 million on September 9, 2026, and the Triad Business Journal reported $51 million on September 14, 2026. This report uses the JournalNow figure, the more precise of the two. AltsWire said on September 3, 2026 that the price had not been disclosed, and IPE Real Assets reported an undisclosed sum on September 3, 2026.
A Baker 1031 listing for the offering showed it open, with records stated as current on October 28, 2026.
Sources: Form D, FREX Series II DST, filed October 28, 2026; Fortress acquisition announcement, September 2, 2026; AltsWire, September 3, 2026; IPE Real Assets, September 3, 2026; JournalNow, September 9, 2026; Triad Business Journal, September 14, 2026; Baker 1031, records as of October 28, 2026.
Offering amounts are maximums from the Form D, not capital raised; amounts sold and investor counts are as of the filing date. Median figures cover Form D filings by likely DST issuers over the trailing twelve months, including amendments, counted per filing. How we report filings.