The first sale in IREX V Diversified Portfolio DST came on May 8, 2026, per the initial Form D. On August 14, 2026, an amendment became the first in the series to record at least half the $97.63 million ceiling as sold.
Raise velocity is a pace metric Top1031 computes from the dates on an offering's own Form D amendments: the days from first sale to the first filing recording half the ceiling sold, and the days to 90%. For this Trust the first figure is 98 days. It measures how fast equity moved. That is the whole of it.
Against the sponsor's own record, the raise ran early. Invesco Real Estate Exchange's median stands at 106 days to the halfway mark and 230 days to 90%, drawn from 4 programs with a recorded pace, a count of filings that includes amendments rather than a count of distinct Trusts. The market median, on that same basis and drawn from 4591 programs, is 15 days to half and 15 days to 90%, the identical figure at both marks. By that yardstick the middle of the market moves far quicker than either this raise or the sponsor's own history, which says as much about how differently sponsors time their Form D amendments as about demand.
No amendment cut the ceiling. It stands where the first filing set it.
Filing date | Amount sold | Share of ceiling | Investors |
|---|---|---|---|
May 22, 2026 (initial Form D) | $1,518,486 | 1.6% | 2 |
June 2, 2026 | $6,766,425 | 6.9% | 4 |
June 26, 2026 | $7,766,000 | 8% | 5 |
July 10, 2026 | $15,887,213 | 16.3% | 15 |
July 23, 2026 | $37,145,301 | 38% | 28 |
July 31, 2026 | $48,303,351 | 49.5% | 40 |
August 14, 2026 | $63,563,656 | 65.1% | 56 |
August 26, 2026 | $73,771,670 | 75.6% | 69 |
September 4, 2026 | $82,019,027 | 84% | 82 |
September 15, 2026 | $84,351,090 | 86.4% | 85 |
The September 15, 2026 amendment is the current standing of the raise, and the 90% mark is not in it. So there is no days-to-90 figure for this Trust. Velocity to that mark is censored, and it stays censored unless the remaining equity sells and an amendment records it. The 98-day count is unaffected either way: it is fixed by dates already on file.
What the pace cannot tell you is most of what matters. Amount sold is as the filing reports it, on the date it reports it, and can lag the subscriptions behind it. The offering is sold under Rule 506(b), which bars general solicitation; the filing does not say who the purchasers were or how they reached the offering. The Form D series discloses no property, no leases and no distribution terms, recording only a commercial asset class and a $250,000 minimum. The PPM will state the distribution terms. The filings carry no performance figures.
Equity moving at this rate says investors subscribed. The property's performance is settled by rent and by sale price, not by the speed of a Form D series.