Hamilton Point Investments sold the property held by HPI Garden Park Investors DST on February 26, 2016. The Form D filed on June 3, 2013 names neither the property nor the city it sits in and classifies the offering under Other Real Estate, so the outcome has to be assembled from sources outside the SEC file.
Those sources are trade coverage. AltsWire carries the sale price and the sponsor's figures for the result; no SEC filing in the record states either.
As filed and as reported | |
|---|---|
Exemption | 506(b) |
Offering ceiling | $5,800,000 |
Minimum investment | $5,000 |
Exit type | Property sold |
Sale price | $17,500,000, as reported by the sponsor in AltsWire |
Equity multiple | 1.61x, as reported by the sponsor in AltsWire |
Annualized return | 20% net internal rate of return, as reported by the sponsor in AltsWire |
Top1031 measures the hold from the first filing to the sale: 2.7 years. The record states no acquisition date for the property, so no hold measured from purchase can be given.
What the record does not carry is the other half of the comparison. The offering was sold under 506(b), and the private placement memorandum that set out its distribution terms went only to the investors who received it. The result is documented. The terms it was measured against are not.