Programs on record26
First filed2020
Active offerings0
Sponsor-reported, from SEC filings and cited sources.
What is on this sponsor’s Record Card?
Top1031 Sponsor Record Card
How this letter was decidedCarter Exchange
NR
NR · Not rated
2 completed sales; 0 losses or impairments; 2 counted Programs. Fewer than three counted Programs. NR is not a failing grade. A letter needs 3 counted outcomes or 3 documented sales.
Completed sales 2Losses or impairments 0Counted Programs 2
- Programs found in SEC fundraising filings (Form D)
- 26
- Share of programs over 3 years old whose status we confirmed
- 72%
Which Programs are on the record?
A Program is one filing-level offering record associated with this Sponsor. Results are public and stay next to their source.
ProgramSponsor-stated resultCounted as
CX Texas Industrial II, DSTFirst filed 2024No full-cycle or disposition found; Carter Exchange continues to list the Atmos Energy regional service-center facility at 11655 County Road 212, Forney, TX (acquired Jan 2024 for $12.6M on behalf of CX Texas Industrial II, DST) in its current portfolio, and no 2025-2026 sale or disposition coverage was identified. Source
No outcome recorded · under 7 yearsDocument
CX Mode at Hyattsville, DSTFirst filed 2023No full-cycle announcement, sale press release, or 721/UPREIT conversion found; the property (Mode at Hyattsville, 3300 East-West Hwy, Hyattsville MD, 396 units) remains listed in Carter Funds' DST portfolio and is actively managed by Allegiant-Carter Management as a rental community. Source
No outcome recorded · under 7 yearsDocument
CX Alexandria, DSTFirst filed 2022
No outcome recorded · under 7 years
Show all 26 Programs
CX Foundry Yards, DSTFirst filed 2022
No outcome recorded · under 7 years
CX Heritage, DSTFirst filed 2022
No outcome recorded · under 7 years
CX Lively Indigo Run, DSTFirst filed 2022CX Lively Indigo Run, DST (Ladson, SC - 302-unit The Lively Indigo Run) remains actively operating and listed for lease by Allegiant-Carter Management with no full-cycle press release or property-level sale announcement found. Source
No outcome recorded · under 7 yearsDocument
CX Midwest Industrial Logistics, DSTFirst filed 2022Carter Exchange's overview, hosted by AltsWire, reports that CX Midwest Industrial Logistics was sold for $62.5 million on May 24, 2023, with a 2.8-year average hold, 1.75x equity multiple, and 32.30% annual return. Source
No outcome recorded · under 7 yearsDocument
CX Owings Mills Multifamily, DSTFirst filed 2022No full-cycle announcement, sale press release, or 721/UPREIT conversion found; the property (Courts of Avalon, Pikesville/Owings Mills MD, 324 units) remains listed in Carter Funds' DST portfolio and is actively managed by Allegiant-Carter Management as a rental community. Source
No outcome recorded · under 7 yearsDocument
CX Ravella at Town Center DSTFirst filed 2022
No outcome recorded · under 7 years
CX Residences at Congressional Village, DSTFirst filed 2022 Source
No outcome recorded · under 7 yearsDocument
CX Riverstone, DSTFirst filed 2022
No outcome recorded · under 7 years
CX EOS Orlando, DSTFirst filed 2021
No outcome recorded · under 7 years
CX Evergreens at Mahan, DSTFirst filed 2021
No outcome recorded · under 7 years
CX Highland, DSTFirst filed 2021
No outcome recorded · under 7 years
CX Liberty Mill, DSTFirst filed 2021
No outcome recorded · under 7 years
CX Lullwater at Blair Stone, DSTFirst filed 2021
No outcome recorded · under 7 years
CX Multifamily Portfolio, DSTFirst filed 2021
No outcome recorded · under 7 years
CX Texas Industrial, DSTFirst filed 2021
No outcome recorded · under 7 years
CX Reagan Crossing, DSTFirst filed 2020
No outcome recorded · under 7 years
CX Retreat at the Park, DSTFirst filed 2020The reported figure describes property value, not investor equity. Source
Sold, result reported by the sponsorDocument
Active offerings
Active means the sponsor’s SEC filings show the offering still raising money. It does not confirm you can still buy in.
No active offerings are on record for this sponsor.
Who is behind this record?
Carter Exchange, a Carter Funds company founded in 2019, sponsors CX-branded Delaware statutory trust programs syndicated for Section 1031 exchanges, acquiring multifamily, industrial, and specialty real estate. Sponsor material dated 2025 reports $2.05 billion in total DST assets under management across 23 DST programs and 25 properties, comprising 21 multifamily assets holding 6,144 apartment homes and four commercial properties totaling 900,000 square feet. Top1031 tracks 26 CX-branded trusts with first filing years from 2020 through 2024. Dated sponsor announcements include a $12.6 million net-leased industrial acquisition in Forney, Texas in January 2024 and the August 2024 full subscription of the $48.8 million CX Courts of Avalon DST offering.
Sponsor-stated figures are as reported by the sponsor.Sources: Carter Funds · Top1031 sponsor record · PR Newswire (Carter Funds release) · Carter Exchange sponsor deck hosted by AltsWire
Platform and strategy
Carter Exchange describes itself as a Carter Funds company, with the Carter Funds team identifying investments, structuring offerings, and providing operational management for the CX platform. Carter Exchange states that it was founded in 2019, sponsors Section 1031-syndicated Delaware statutory trust programs, and has structured 26 private placement offerings to date, with a stated acquisition focus on the multifamily, industrial, and specialty sectors. As of 2025, the sponsor reported $2.05 billion in total DST assets under management, 23 DST programs, and 25 properties, comprising 21 multifamily properties with 6,144 apartment homes and four commercial properties totaling 900,000 square feet.1
Tracked CX programs
Top1031 tracks 26 CX-branded Delaware statutory trusts with first filing years from 2020 through 2024. Four were first filed in 2020 — CX Reagan Crossing, DST; CX Retreat at the Park, DST; CX Station at Poplar Tent, DST; and CX Station at Savannah Quarters, DST — followed by seven in 2021 and thirteen in 2022. The most recently filed tracked entities are CX Mode at Hyattsville, DST (2023) and CX Texas Industrial II, DST (2024).2
Acquisitions and offering closings
On January 23, 2024, Carter Exchange announced the acquisition of a $12.6 million Atmos Energy industrial facility in Forney, Texas on behalf of CX Texas Industrial II, DST.3 On August 1, 2024, the sponsor announced the full subscription and closing of the $48.8 million CX Courts of Avalon DST offering, a Regulation D private placement for accredited investors structured to qualify for 1031 like-kind exchange treatment.4
Completed programs
The Carter Exchange overview deck reports that CX Station at Poplar Tent, DST, holding 312 apartment homes in Concord, North Carolina, was purchased for $57.5 million on August 31, 2020 and sold for $74.7 million on April 20, 2023, and that CX Station at Savannah Quarters, DST, holding 244 apartment homes in Pooler, Georgia, was purchased for $43.4 million on September 17, 2020 and sold for $62.5 million on May 24, 2023.5 In a February 12, 2026 release, Carter Exchange Fund Management Company, LLC announced the January 21, 2026 sale of the Retreat at the Park multifamily property in Burlington, North Carolina for $48 million.6
Show sources (6)Hide sources (6)
- Carter Funds ↗Sponsor disclosure
- Top1031 sponsor record ↗
- PR Newswire (Carter Funds release) ↗Sponsor disclosure
- Carter Funds ↗Sponsor disclosure
- Carter Exchange sponsor deck hosted by AltsWire ↗Sponsor disclosure
- Carter Funds ↗Sponsor disclosure
Written from SEC filings and cited sources
Carter Exchange in the news
More sponsor coverage (5)
What can I do next?
Use the record as a starting point. Compare the current Programs, save offerings to your Watchlist, or ask a licensed specialist about the facts shown here.