NB The Plaza, DST sold the Plaza on Broadway, a 39-unit student-housing complex at 955 Broadway in Boulder, Colorado, on April 1, 2023. The sale closed an offering that Nelson Brothers, the sponsor, first filed on May 29, 2015 and had held since acquiring the property that same month.
Original offering | As filed |
|---|---|
Sponsor | Nelson Brothers |
Property | Plaza on Broadway, 39 units, 955 Broadway, Boulder, CO |
Asset class (Form D) | Other Real Estate |
Exemption | 506(c) |
Equity ceiling | $8,350,000 |
Minimum investment | $250,000 |
First Form D filing | May 29, 2015 |
The Form D placed the property in the "Other Real Estate" category; BizWest described it as a student apartment complex.
Disposition | On record |
|---|---|
Exit type | Property sold |
Sale date | April 1, 2023 |
Purchase price, May 2015 | $24,771,500, as reported by the sponsor (BizWest, April 26, 2023) |
Sale price | $37,500,000, as reported by the sponsor (BizWest, April 26, 2023) |
Hold period | 7.8 years |
The hold ran 7.8 years from the May 2015 acquisition to the April 2023 sale, which came in above the 2015 purchase price. Neither the sponsor's announcement nor the public record states a total return, annualized return, or equity multiple for the offering.