Sunlit DST reached full cycle without a sale. The Delaware Statutory Trust (DST) contributed its property, Sunlit Gardens in Rancho Cucamonga, California, to Covenant Senior Housing REIT in a Section 721 UPREIT transaction.
The Form D that opened the offering identifies the Sponsor as Sunlit ST. AltsWire, reporting the contributions into the REIT, described the offerings behind them as affiliated 1031 Crowdfunding DST offerings.
Term | As filed |
|---|---|
First Form D | September 20, 2019 |
Offering amount | $13,600,000 |
Minimum investment | $25,000 |
Exemption | 506(b) |
Asset class | Commercial |
What Sunlit DST's investors received in the contribution is not on the record. No value is attached to Sunlit Gardens at the moment it entered the REIT, and no date is attached to the transfer, so the hold cannot be stated as a period. A total return, an annualized return, an equity multiple: none is disclosed.
The property did not stay in the portfolio it entered. 1031 Crowdfunding's Covenant Housing REIT page states that its portfolio data reflects all assets held during the reporting period ending March 31, 2025, "including Sunlit Gardens, which was divested subsequent to quarter-end."
That divestiture is disclosed as the REIT's own. The form of the exit is documented; what it produced for the Trust's investors is not.