Gray Capital's property page for The Reserve dates the Indianapolis firm's acquisition of The Reserve Apartments & Townhomes in Evansville, Indiana, to July 1, 2019. Top1031 records the disposition of Thompson/Post Reserve Apartments, DST as a property sold on that date, and the buyer's own entry is the document that fixes it.
What the investors received is not on the record: no total return, no annualized return, no equity multiple. No sponsor announcement of the sale was located. The program appears among completed offerings on Thompson National Properties's published track record, per Top1031's record of the exit.
Item | Detail |
|---|---|
Trust | Thompson/Post Reserve Apartments, DST |
Sponsor of record | Thompson/Post Reserve Apartments Investments |
Asset class | Residential |
Form D filed | |
Offering amount | $7,150,000 |
Minimum investment | $25,000 |
Exemption code as filed | 06 |
Exit type | Property sold |
Exit date | July 1, 2019 |
Hold period | 6.7 years, from the Form D filing date to the exit date |
The measurement starts at the filing because the documents available do not establish when the Trust acquired the property; the span from acquisition to sale cannot be stated. The Form D is the offering's public filing of record here, and its distribution terms would sit in the private placement memorandum, which is not public.
For the Sponsor named on the Form D, this is the first full-cycle disposition Top1031 records.