RK Edwards Mill DST reached full cycle on January 11, 2023, when the property the Trust held was sold. Rance King Properties describes the asset as a multifamily property in its announcement of the sale.
The Delaware Statutory Trust (DST) offering was filed with the SEC on August 17, 2017 under a 506(b) exemption. Top1031 carries the offering under a Commercial asset class, a classification the sponsor's own description of the asset does not match.
The sale was made on behalf of both the DST program and RK Opportunity Fund IV, per that announcement. The returns below are the ones the sponsor reported for the DST investors.
Item | As recorded |
|---|---|
Trust | RK Edwards Mill DST |
Sponsor | Rance King Properties |
Form D filed | August 17, 2017 |
Exemption | 506(b) |
Maximum offering amount | $22,560,827 |
Minimum investment | $25,000 |
Property sold | January 11, 2023 |
Sale price | $56,500,000, as reported by the sponsor in its announcement |
Hold period | 5.4 years |
Total return to DST investors | 175%, as reported by the sponsor in its announcement |
Average annual return to DST investors | 14%, as reported by the sponsor in its announcement |
The Form D on file states neither distribution terms nor a hold plan; those disclosures belong to the private placement memorandum, which is not public. The completed sale and the sponsor's reported returns are what the public record now carries for this trust.