San Antonio Multifamily DST sold its property on January 31, 2019. Inland Private Capital's full-cycle materials carry both figures for the completed program: a disposition value of $46 million, as reported by the sponsor, and a total return of 88.43%, as reported by the sponsor, in its full-cycle residential activity summary and in the private placement memorandum for its Sun Belt Multifamily III program. The record does not establish whether the return figure sits before or after fees, financing costs, and sponsor compensation, and it carries no annualized return and no equity multiple.
The hold is carried two ways in Top1031's inputs: 4.58 years and 4.6 years. This report relies on 4.58 years as the more precise of the two figures.
Field | Record |
|---|---|
Trust | San Antonio Multifamily DST |
Sponsor | Inland Private Capital |
SEC CIK | 1608791 |
First Form D | |
Exemption | 506(b) |
Maximum offering amount | $26,303,970 |
Minimum investment | $25,000 |
Asset class as recorded | Other Real Estate |
Exit type | Property sold |
That is the whole of the reported result. The equity investors actually placed, the buyer, the property's name and unit count, and the distributions paid during the hold are outside the record Top1031 can source. So is the Trust's own memorandum, which would state the distribution terms an investor agreed to at subscription and against which the sponsor's reported figures could be read.
Top1031's record carries 24 full-cycle dispositions for Inland Private Capital. For this one the file is dated and narrow: a Form D, a sale, a hold. Everything quantified about the result comes from documents the sponsor produced.