The amendment NexPoint filed on August 25, 2026 reports $25.71 million sold to 91 investors, or 51% of the ceiling. It is the first filing to put the Delaware Statutory Trust (DST) past the half mark, and it lands 301 days after the first sale on October 28, 2025.
That 301 is a pace metric Top1031 computes from the Form D record itself: the days from an offering's first sale to the amendment that first reports 50% of the ceiling sold, and again to the one reporting 90%. Filing dates, nothing else. The second count does not exist for this Trust, because no filing has shown the offering there.
Set the number against the sponsor's own book and against the market. Across 23 NexPoint programs, the median run to half the ceiling is 118 days, and to 90% of it, 189 days. The median across the 3,365 programs Top1031 tracks is 18 days to half. This raise took longer than either benchmark to reach the same mark, and it took the long way there: small additions, filing after filing.
Filing | Amount sold | % of ceiling | Investors |
|---|---|---|---|
$1,148,406 | 2.3% | 3 | |
$7,016,275 | 13.9% | 21 | |
$11,152,102 | 22.1% | 29 | |
$17,344,828 | 34.4% | 50 | |
$22,414,235 | 44.5% | 76 |
Selected filings before the August amendment. Amounts are as of each filing date.
Two cautions attach to the count. It measures the distance to a filing, not to a subscription: the longest gap in the record runs from June 10, 2026 to August 25, 2026, and the crossing happened somewhere inside it. And amount sold is what the sponsor reported on the day it filed, so the book can sit ahead of the record.
What the pace does not measure is the asset. A raise that fills slowly is slow for reasons a Form D never states, and a raise that fills at all is subscribed, not proven.
One thing has not moved. The ceiling has read the same in every filing since November 2025, with no downward amendment cutting the target the sponsor set at the start.
Against that pace, the silences in the document are the more telling part. The Form D identifies no property, no market and no debt, and carries no distribution terms; the asset class is entered as Other Real Estate, and the minimum investment is $100,000. The offering is sold under 506(c), so it can be advertised, which makes the pace a reading of subscriptions gathered under general solicitation rather than inside a closed channel. The rest sits in the PPM.
The next figure the record can produce is the day count to 90%, and only a filing supplies it.