0 completed sales; 0 losses or impairments; 0 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 0Losses or impairments 0·Counted Programs 0
No documented loss found in searched sources as of Sep 7, 2026.
Programs found in SEC fundraising filings (Form D)
Enclave of BahamasMultifamily·Royse City, TXSEC filing, Aug 8, 2025
$57.7M
—Not confirmed yetAmount sold: not confirmed yet. Top1031 has not been able to confirm how much of this offering has sold.Filed Aug 8, 2025
Availability unconfirmed
Chapter 4
Who is behind this record?
Megatel (MCI Exchange) is the Delaware statutory trust program line of Megatel Capital Investment, LLC, which describes itself as the capital-markets division of the Dallas-based Megatel group of companies. The firm states that it provides growth capital for quality-built, custom-home communities in fast-growing population centers, primarily in Texas and Oklahoma. The Megatel Group announced the addition of Section 1031 Delaware statutory trust private placements through that affiliate on June 25, 2019. Top1031 tracks six MCI trust entities first filed between 2023 and 2026, and an August 2025 issuer filing names MCI DST-Sponsor, LLC of Dallas as sponsor of those trusts.
Megatel Capital Investment, LLC (MCI) operates the "Megatel (MCI Exchange)" trust brand and describes itself as the capital-markets division of the Megatel group of companies, headquartered in Dallas, Texas1. MCI states that its strategy is providing growth capital for quality-built, custom-home communities in fast-growing population centers, primarily in Texas and Oklahoma, with focus areas tied to corporate relocation, employment, and population growth2. On June 25, 2019, the Megatel Group announced in a sponsor-issued press release that it was adding Section 1031 Delaware statutory trust private placements through MCI, presenting the step as part of a push into higher-density housing and a Rent Back program3.
Trust program line
Top1031 tracks six MCI trust entities: MCI-DST 1 and MCI Exchange AnaCapri A Series, DST, first filed in 2023; MCI Exchange Saint Tropez A Series, DST, first filed in 2024; MCI Exchange Bahamas A Series, DST and MCI Exchange Enclave of Bahamas/Bahamas B Series, DST, first filed in 2025; and MCI Exchange Bellagio A Series DST, first filed in 20264. An issuer filing dated August 8, 2025 for the Enclave of Bahamas/Bahamas B Series names MCI DST-Sponsor, LLC as sponsor of the MCI Exchange trust issuers and as the sole member and manager of that issuer's signatory trustee, with a principal address at 2101 Cedar Springs Road, Suite 700, Dallas, Texas5.
Earlier MCI fund programs
A sponsor-filed SEC offering document reports earlier MCI fund vehicles in private real-estate lending, with reported completion dates of April 13, 2017 for MCI Secured Income Fund, LLC, October 7, 2020 for MCI Preferred Income Fund II, LLC, and October 1, 2023 for MCI Preferred Income Fund IV, LLC6.
Bahamas | Royse City New Home CommunityMegatel Homes community page for the Bahamas lagoon community in Royse City, TX 75189, listing amenities (fitness center, Flowrider, water slides) that anchor the underlying property for the DST.
Bahamas — Royse City, TX (by Megatel Homes)Homes.com listing for the Bahamas community shows status 'SOLD OUT', indicating all homes in this phase have been sold (relevant context for the underlying property backing the DST).
Bellagio by Megatel Homes in Forney, TXReal estate listing site introduces Bellagio as a new single-family community by Megatel Homes in Forney, TX, the underlying lagoon community supporting the MCI Exchange Bellagio A Series DST.
Enclave of Bahamas / Bahamas B SeriesBlueVault Partners listing page for the Enclave of Bahamas / Bahamas B Series DST, dated April 23, 2026, confirming ongoing sponsor activity on this Megatel-affiliated offering.
MCI Exchange Enclave of Bahamas/Bahamas B Series DST (Offering Brochure)Offering brochure for the Enclave of Bahamas / Bahamas B Series DST — $57.71M equity raise for development of 253.886 acres across the Bahamas and Enclave of Bahamas master-planned communities in Royse City and Caddo Mills, TX.
MCI Exchange Enclave of Bahamas/Bahamas B Series DST — Offering BrochureSponsor brochure for the sister Bahamas B Series DST describing 253.886 acres of land in the Bahamas and Enclave of Bahamas Laguna Azure master-planned communities in Royse City and Caddo Mills, TX; confirms the Bahamas A Series targets the same Royse City community.
Saint Tropez | Huffman, TX — Development Update Q1Sponsor-published Q1 2025 drone footage of the Saint Tropez lagoon community showing continued construction and home inventory in the community backing the DST.
Megatel begins work on lagoon-anchored AnaCapri projectMegatel Homes LLC began construction on the $1 billion AnaCapri residential community centered on a large lagoon in Anna, TX — the underlying community backing the MCI Exchange AnaCapri A Series DST.
Groundbreaking Anacapri Lagoon in Anna, Collin CountyCity of Anna press release describing Megatel Homes' April 2, 2024 groundbreaking ceremony for the $800M+ AnaCapri lagoon community with over 1,000 homes and 600 multifamily units.
Megatel Homes Begins Construction of $2 Billion Lagoon Community in HoustonPress release announcing Megatel Homes broke ground on Saint Tropez, a $2B, 1,000+ acre master-planned lagoon community in Houston spanning 4,500 single-family lots and multifamily units — the underlying property backing the Saint Tropez A Series DST.
Lagoon-anchored 1,800-home development approved in AnnaDallas Business Journal reports the Anna City Council approved Megatel Homes' 1,800-home AnaCapri lagoon-anchored master-planned community — the underlying property for the AnaCapri A Series DST.
The CRE Equity Alert — Aug 9, 2025 (includes Megatel Capital Investments Bahamas B Series)Capital-raise newsletter lists Megatel Capital Investments' MCI Exchange Enclave of Bahamas/Bahamas B Series DST ($57,710,000), demonstrating active capital raising in the Bahamas Laguna Azure community during 2025 and confirming the Bahamas A Series targets the same Royse City community.
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