Madison Realty Companies
DST Sponsor · SEC filing history and documented Program outcomes
Website not on recordSponsor-reported, from SEC filings and cited sources.
What is on this sponsor’s Record Card?
Madison Realty Companies
0 completed sales; 2 losses or impairments; 2 counted Programs. 2 losses or impairments within three years. Regulatory record: Arizona Attorney General racketeering complaint (2024) and FINRA arbitration claims (2025) over senior-care programs.
Completed sales 0Losses or impairments 2Counted Programs 2
- Programs found in SEC fundraising filings (Form D)
- 4
- Share of programs over 3 years old whose status we confirmed
- 75%
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.
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?
Madison Realty Companies is a real estate sponsor whose Delaware statutory trust activity centered on senior-care properties. Top1031 tracks four DST issuers tied to the firm, first filed between 2015 and 2017: Madison Realty Senior Care I-UT, DST; Madison Realty Senior Care II-AZ, DST; Madison Realty Senior Care Alta Ridge DST; and MRSC CO Aspen House DST. In August 2016 the sponsor reported closing a $14.8 million senior-care DST holding two facilities in Mesa and Apache Junction, Arizona, financed at a reported 41.9% loan-to-value ratio with 25-year amortization, and described an asset plan of increasing levels of care through operating efficiency, expansion, or conversion.
Sponsor-stated figures are as reported by the sponsor.Sources: Top1031 sponsor record · Madison Realty Companies via PR Newswire · azag.gov · Top1031 validated outcome
Senior-care DST platform
Madison Realty Companies sponsored Delaware statutory trust programs concentrated in senior-care real estate. Top1031 tracks four DST issuers tied to the firm: Madison Realty Senior Care I-UT, DST, first filed in 2015; Madison Realty Senior Care II-AZ, DST, first filed in 2016; Madison Realty Senior Care Alta Ridge DST, first filed in 2017; and MRSC CO Aspen House DST, also first filed in 20171.
Arizona senior-care closing
In a release dated August 3, 2016 and distributed through PR Newswire, Madison Realty Companies said it had closed a $14.8 million senior-care DST holding two facilities in Mesa and Apache Junction, Arizona, and reported a 41.9% loan-to-value ratio with 25-year amortization. The sponsor described its approach to those assets as increasing levels of care and pursuing value through operating efficiency, expansion, conversion, or a combination of those approaches2.
In March 2024 the Arizona Attorney General filed suit over Heritage Village Assisted Living, alleging that Madison Realty Companies, LLC and its owners were at the center of the entities controlling that facility, and asked the court to appoint a receiver and remove the owners while the case was pending3. In October 2024 the office announced an amended complaint in case CV2024-005359 that added racketeering claims, alleged diversion of more than $2.9 million from Heritage Village operating accounts, and sought control of two additional assisted-living facilities, Visions Mesa and Visions Apache Junction4. Those statements are allegations in litigation rather than adjudicated findings. Top1031's validated outcome record classifies Madison Realty Senior Care II-AZ, DST as a distressed exit dated July 17, 2024, citing the Heritage Village receiver's initial status report5.
Show sources (5)Hide sources (5)
- Top1031 sponsor record ↗
- Madison Realty Companies via PR Newswire ↗Sponsor disclosure
- azag.gov ↗Public record
- azag.gov ↗Public record
- Top1031 validated outcome ↗
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