165 Days to Half the $15.292 Million Ceiling at SRRT 5902 Industrial DST, Against a 107-Day Market Median

Correction (October 4, 2026): an earlier version used a market or sponsor median without establishing a DST-only comparison population. This version uses likely 1031 DST issuers.

Raise velocity is a pace measure Top1031 computes from an offering's own Form D amendments: the days from the first reported sale to the date the amendments show half the ceiling sold, and then 90% of it. Nothing else goes into it. For SRRT 5902 Industrial DST, sponsored by SR Realty Trust, the filings date the first sale to March 30, 2026, and the halfway mark came at 165 days. The market median in the benchmark cohort of likely 1031 DST programs is 107 days to the same point.

So this raise took longer than most to get halfway. That is the whole of what the number says.

The second half of the reading is blank rather than slow. The amendments stop at half the ceiling and the clock is still running; the market median to the 90% mark is 181 days.

One line in that path runs backward. The May 6, 2026 amendment reported a smaller amount sold than the initial filing before it, even as the investor count rose, and the next day's amendment moved the figure sharply up again. The record is not internally consistent here: the downward-amendment counter Top1031 computes for this offering reads zero, while the amounts as filed show the decrease plainly. The table follows the filings, because those figures are lifted directly from them, and because that counter tracks cuts to the offering ceiling - which has read $15.292 million in every one of these filings. No filing states a reason for the smaller number, and Form D does not ask for one.

The offering is sold under Rule 506(b), which permits no general solicitation. That constrains how the offering may be marketed and says nothing about who the six investors are or how they were reached.

No sponsor-history line runs beside this one, so the market median carries the entire comparison. It is a filing-level figure, drawn from 864 likely 1031 DST program filings with amendments included rather than one record per Trust, which makes it a blunt instrument for any single offering.

What the filings record is a set of dollar amounts and investor counts on given dates. They do not speak to the merit of the property, the terms of the Trust, or the eventual result for investors. A fast raise and a slow one are both just raises. The September 11, 2026 amendment is a Form D, not an offering document: no property detail, no distribution terms, no fee schedule. Those live in the offering documents. The Form D also classifies the offering under "Other Real Estate" rather than an industrial category, though the Trust's own title names the sector.

The next amendment puts a date on the back half of this raise, or shows the same figure again. There is nothing else in the record to go on.