The property held by CS1031/Kay Maple Springs Apartments, DST was sold on April 13, 2021. Capital Square lists the program as completed on its published full-cycle track record, and the record places the hold at 4.4 years.
Item | Detail |
|---|---|
Trust | CS1031/Kay Maple Springs Apartments, DST |
Sponsor | Capital Square |
Asset class as filed | Commercial |
First Form D | |
Exemption | 506(c) |
Offering amount | $11,788,000 |
Minimum investment | $25,000 |
Exit type | Property sold |
Sale price | $34.8 million, as reported by the sponsor in its published full-cycle track record |
Annualized return | 13.94%, as reported by the sponsor in its published full-cycle track record |
Equity multiple | 1.67x, as reported by the sponsor in its published full-cycle track record |
The sponsor's track record is the only public accounting of the result. It does not set out the distributions paid to investors over the hold, and the distribution terms investors were shown were carried in the private placement memorandum, which is not a public document. The Form D carries no such terms either, and it names no property; Top1031 records the offering's asset class as Commercial, notwithstanding the apartment name in the Trust's marketing title. Nothing on the public record states why the property was sold when it was.
Before Maple Springs, Top1031's record counted eleven sold programs for Capital Square. For this one, the securities filing marks the beginning and the sponsor's own brochure marks the end; between the two, the public record is silent.