NexPoint Waterford DST recorded its first sale on May 4, 2026, and the initial Form D followed on May 7, 2026. Every amendment since has reported more equity sold than the one before it, and every one has reported less than half the ceiling.
Raise velocity is a pace metric Top1031 computes from a Delaware Statutory Trust (DST) offering's own Form D amendment dates: the days from the first sale to the filing showing half the ceiling sold, and to the filing showing 90%. This raise has reached neither mark, so both counts stay open. The figures below follow the August 25, 2026 amendment, the most recent on file.
Filing date | Amount sold | Share of ceiling | Investors |
|---|---|---|---|
May 7, 2026 | $483,297 | 1.5% | 2 |
May 19, 2026 | $633,297 | 2% | 3 |
June 2, 2026 | $1,235,705 | 3.9% | 5 |
June 22, 2026 | $2,210,891 | 7% | 8 |
July 8, 2026 | $3,372,616 | 10.8% | 10 |
August 11, 2026 | $4,577,616 | 14.6% | 13 |
August 25, 2026 | $5,362,099 | 17.1% | 17 |
The minimum investment is $100,000, and subscriptions have arrived a few at a time. Nothing in the record resembles the single large jump that carries a raise from a standing start to nearly full in one filing.
That is where the benchmarks matter. Across 24 NexPoint programs Top1031 tracks, the median run from first sale to half the ceiling is 126 days, and to 90% it is 189 days. The market median, across 3,365 programs, is 18 days to half and 16 days to 90%. Each milestone median counts only the programs whose amendments actually reached it, so the two market figures rest on different sets of offerings and should not be read as a sequence. Against the sponsor's own history, this raise is unremarkable. Against the market's, nothing about it is quick.
A pace reading is a demand reading and nothing more. It says nothing about the property's performance, nothing about the eventual result for investors, and a raise that fills is subscribed rather than proven. Amount sold is also as the filing reports it, which can trail actual subscriptions. The ceiling has been the same in every filing since the initial Form D.
The Form D says almost nothing about what is being bought. It files under 506(c), classifies the offering under Other Real Estate, and names no asset. Distribution terms, debt, and hold period are not Form D disclosures; the PPM states them.
So the next amendment is the informative one. It will show whether another increase is reported, or a change in the ceiling.