The 93-unit student-housing property in Greeley, Colorado, passed to Fannie Mae, the loan's holder, through a credit bid at a court-supervised bankruptcy auction; the transfer closed April 1, 2025, and the record classifies the disposition as a foreclosure. Greeley Flats, DST had raised capital as a Delaware Statutory Trust (DST) beginning in 2020 and reached this point inside a Chapter 11 case in the District of Colorado.
Nelson Partners LLC sponsored the Trust, which filed its first Form D on April 9, 2020, a 506(b) offering with a ceiling of $11.113 million.
The route ran through default. A Weld County court placed the property in receivership on October 24, 2022, tied to loan defaults that exceeded $10 million, and the Trust filed for Chapter 11 protection on April 3, 2024. Fannie Mae prevailed at a March 7, 2025 auction with a credit bid of $16.95 million and $1.01 million in cash, a total the Colliers and chapter11cases reports put at $17.96 million. The transfer closed April 1, 2025, and the Chapter 11 trustee moved to dismiss the case on April 4, 2025.
The record carries no total return, annualized return, or equity multiple, and Nelson Partners has published no result for its investors.
From the April 9, 2020 Form D to the April 1, 2025 closing, the hold ran just under five years. It is the first disposition Top1031 records for Nelson Partners.