Top1031's disposition record classifies the exit of MRSC CO Aspen House DST as a foreclosure and dates it September 10, 2024. The summary in that same record describes the event of that date in different terms: MRSC CO Aspen House LLC, the property-owning entity, filed a Chapter 11 reorganization petition. Both descriptions come from one record. This report uses the record's own classification, foreclosure, and notes the petition because the two carry the same date.
The Delaware Statutory Trust (DST) offering behind the property was a 506(b) raise that Madison Realty Companies first filed with the SEC on September 28, 2017. The record carries a date-derived hold of 7 years and no separately stated hold figure.
Income payments to investors ended in 2020, per the record.
Item | Record |
|---|---|
Offering ceiling | $5,350,000, per the Form D |
Minimum investment | $50,000, per the same filing |
Sale price | not stated |
Total return, annualized return, equity multiple | not stated |
The record describes the property in more than one way: the disposition summary calls it an 80-bed assisted-living facility in Loveland, Colorado, while the offering record classifies the asset class as Other Real Estate.
The disposition summary states that the bankruptcy court authorized a motion to sell that facility free and clear of liens on May 8, 2025, after the facility closed in March of the same year. The same record carries no sale price. No order, docket entry, motion or news account is included in the evidence available for this report, so whether a sale closed, and on what terms, is not established here. The summary is the only dated statement of the authorization in hand, and it is what this report relies on for that date. The summary also names a dollar amount for the authorized sale that cannot be tied to a source document available for this report, and so is not stated here.
The summary further states that investors suffered total losses, citing BizWest, KlaymanToskes and einpresswire. KlaymanToskes is a claimant-side law firm and einpresswire a press-release distributor; none of those three items is in the evidence for this report, and the claim is set out here with that attribution rather than as an established figure. Madison Realty Companies has published no disposition announcement for the Trust that Top1031 could locate. What proceeds, if any, reached beneficial owners is not established by the documents in hand.
This is the first full cycle Top1031 records for Madison Realty Companies.