SRRT 5902 Industrial DST recorded its first sale on March 30, 2026. The amendment filed September 11, 2026 is the filing that carries the offering past the halfway mark of its ceiling. That is a raise measured in seasons.
Raise velocity is a pace metric Top1031 computes from an offering's own Form D amendment dates: the days from first sale to half the ceiling, and to most of it. It reads demand, and only demand. An offering that fills fast is an offering that is subscribed fast, which says nothing about the property, the terms, or the eventual result for investors.
Form D | Filed | Amount sold | % of ceiling | Investors |
|---|---|---|---|---|
Original | $2,068,231 | 13.5% | 1 | |
Amendment | $2,002,752 | 13.1% | 3 | |
Amendment | $3,914,932 | 25.6% | 4 | |
Amendment | $5,600,153 | 36.6% | 5 | |
Amendment | $7,800,153 | 51% | 6 |
The May 6 line is the one worth stopping on. The investor count rose while the amount reported sold went down, and the next day's filing more than recovered it. Nothing was cut on the other side of the ledger: the ceiling reads $15.29 million in all five filings, so this is not a sponsor trimming the size of its raise. It is a sold figure that moved backward, and the filings state no reason for it.
Against that, the market: a median of 15 days from first sale to half the ceiling, and the same 15 days to most of it, drawn from 4,177 programs. Read those as two separate medians rather than a sequence. One offering set beside a median of thousands is a data point, not a pattern, and the usual second frame is missing here because the pace record holds nothing earlier from this sponsor.
Top1031's computation puts 165 days between the first sale and half the ceiling. The second milestone has no figure attached, because the offering has not reached most of its ceiling; the metric is censored there, which means the clock is still running rather than stopped at a value.
What the record carries about the asset itself is thin. The Trust is classified as Other Real Estate in the directory, not industrial, and no property, tenant, or location appears in the material assembled for this report. The offering is sold under Rule 506(b), which bars general solicitation. That governs how an offering may be marketed. It does not explain why the buyer count stands where it does, and it is not evidence about who the buyers are.
No sponsor statement on the raise, and no coverage of it, appears in that material either. The next amendment answers the narrower question: whether the back half of the ceiling moves at the pace of the front, or at the pace of the three filings clustered in May.