CU
Cunat
9 Programs on record · filing history back to 2019 · 0 classified as raising now
Website not on recordPrograms on record9
First filed2019
Raising now0
Finished with published result100%
Capital-loss alertNone published
Sponsor-reported, from SEC filings and cited sources.
What the record shows
Cunat is a McHenry, Illinois–based real estate firm that its homepage states was founded in 1976 and that builds and operates condominiums, rental communities, townhomes, and single-family homes in northern Illinois. Top1031 tracks nine sequentially named Cunat Exchange DST programs, Cunat Exchange I DST through Cunat Exchange IX DST, with first filings dated from 2019 through 2025. On September 30, 2025, Cunat reported the full-cycle completion of Cunat Exchange I DST, whose five Illinois multifamily properties totaling 585 units were sold on behalf of investors at a sponsor-reported annual rate of return of 12.14%.
Sponsor-stated figures are as reported by the sponsor.Evidence 123
Published Grade summary
The audit tracks 9 Programs over 7 yrs, of which 1 is lifecycle-eligible and seasoned; that program is recorded as property sold; result unknown, while the outcome-disclosure ledger shows 1 figure published, 0 acknowledged without a figure, and 0 silent. No material adverse events, 0 distress, and no recorded floor appear in the record, an absence that is not itself evidence of safety. The evidence rests on 7 citations at proof depth 2.
1Programs with an ending or 7+ years of history
0 of 1Programs with a documented problem
100%Finished Programs with a published result
YesPublishes its own track record
Raising money now
Classified active by Top1031 from the SEC filings. That does not confirm an offering is still available to buy.
No active offerings are on record for this sponsor.
How this Grade was computed
The four channels describe the documented public record. The published letter also applies evidence gates, ceilings, and adverse floors.
Four evidence channelsEach channel is scored from 0 to 100, then weighted under the published method.
Read the full methodHarm recordDocumented problems, weighed against everything at stake35% weight
Lifecycle outcomesHow programs old enough to finish actually ended25% weight
Market acceptanceHow each raise went against comparable offerings25% weight
Disclosure candorWhether completed programs come with published results15% weight
Weighted blend35% H + 25% L + 25% R + 15% TThe published result applies the anti-washout ceilings, evidence gates, and adverse floors below after this blend. Top1031 does not publish an intermediate score.
AProven71 and above
BEstablished61–70
CUnproven50–60
DWarning36–49
FAdverseBelow 36
NRNot ratedRecord too small or identity under review
- Ceilings
- The result cannot exceed H + 10 or L + 15, so stronger sales evidence cannot wash out a weaker harm or lifecycle record.
- Evidence gates
- A and B require minimum proof depth, lifecycle history, and channel evidence. A also requires qualifying disclosure coverage.
- Adverse floors
- An Integrity alert sets an F floor. A dominant documented capital loss or multiple independent severe events sets D or lower.
Proof depth50.0Published-outcome coverage100%
- C2026-Q3 · Moved from C. Binding constraints: proof depth below 4; fewer than 10 lifecycle-eligible Programs; H below 85.
Programs on the record
A Program is the filing-level offering record associated with this sponsor. Published-result figures are shown only with sponsor attribution and adjacent sources.
ProgramFirst filedStatusPublished outcome
Cunat Exchange V DST2022Filing record
—Not in the finished-Program ledger
Cunat Exchange III DST2021Filing record
—Not in the finished-Program ledger
Show all 9 Programs
Cunat Exchange IV DST2021Filing record
—Not in the finished-Program ledger
Cunat Exchange II DST2020Filing record
—Not in the finished-Program ledger
Cunat Exchange I DST2019Finished
Figure publishedAs reported by the sponsor.Source 1
Read the sponsor-stated result
Listed as a completed/full-cycle program on Cunat's published track record.
Who they are
Written from SEC filings and cited sources
Cunat, Inc. states on its homepage that the company was founded in 1976, and lists a McHenry, Illinois contact address alongside an "Our Communities" presentation of its operating portfolio 2. The company describes its business as condominiums, rental communities, townhomes, and single-family homes in northern Illinois 2.
Top1031 tracks nine Cunat Exchange DST programs: Cunat Exchange I DST (CIK 1780640, first filed 2019), Exchange II DST (1813505, 2020), Exchange III DST (1847219, 2021), Exchange IV DST (1886890, 2021), Exchange V DST (1919829, 2022), Exchange VI DST (1963412, 2023), Exchange VII DST (2005455, 2023), Exchange VIII DST (2083370, 2025), and Exchange IX DST (2083368, 2025) 3.
The sponsor's directly sourced completed program is Cunat Exchange I DST. In a release dated September 30, 2025, Cunat reported that the trust had completed full cycle, that its five Illinois multifamily properties were sold on behalf of investors, that the portfolio totaled 585 units, and that the annual rate of return was 12.14% 1. The five assets were Autumnwood Apartments (102 units, Woodstock, Illinois), Lillian Street Apartments (81 units, McHenry, Illinois), Northfield Court (242 units, Harvard, Illinois), Southgate Apartments (64 units, McHenry, Illinois), and Westside Court (98 units, McHenry, Illinois), placing the portfolio in the same northern Illinois market as the sponsor's operating base 12. The program's first filing year of 2019 and the September 2025 sale correspond to a hold of roughly five and a half years 13.
Cunat also reported that it retained a 20% ownership stake in the Exchange I DST trust alongside investors, and that each asset in the trust was individually financed for risk segmentation and operational flexibility 1.
Show sources (3)Hide sources (3)
- Cunat, Inc. via PR Newswire ↗Sponsor disclosure
- Cunat, Inc. ↗Sponsor disclosure
- Top1031 sponsor record ↗Top1031-derived