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Executive Summary

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HPI Deer Creek DST

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Offering summary

HPI Deer Creek DST is a Delaware Statutory Trust offering sponsored by Hamilton Point Investments LLC to acquire Xenia Trails, a 312-unit garden-style apartment community located at 1600 Deer Creek Drive in Xenia, OH. The property was built in 2005/2008 and is being acquired for a purchase price of $46,000,000 at a 6% acquisition cap rate. The total offering price is $53,229,065, structured with $27,929,065 in offering equity and $25,300,000 in fixed-rate debt financing. The 10-year debt financing reflects a 47.5% loan-to-value ratio and an initial debt service coverage ratio (DSCR) of 2.02x. Total upfront fees and offering expenses are $2,738,084, representing a 6% load on offering price and a 7.75% load on equity. Total capitalized reserves across lender requirements, master tenant reserves, and planned improvements equal $2,918,400 within total acquisition costs including reserves of $53,229,065.

Capital raise

0.0% of the offering is closed

$27,929,065 still available

Closed$0 Reservations$0 Available$27,929,065
$0 of $27,929,065 placed
Total offering equity

$27,929,065

Closed equity

$0

0.0% of offering
Current reservations

$0

Pending subscription
Available equity

$27,929,065

Open for subscription

The offering seeks to raise $27,929,065 in equity from accredited investors. Selling commissions are set at 6.00% of gross cash proceeds, with additional front-end allocations including a $488,759 dealer fee, $488,759 placement agent fee, and $279,291 each for broker-dealer marketing and due diligence allowances.

Offering terms

Sector

Multifamily

Investment Category

DST

Projected First Year Cashflow

—

Avg. — over term

Min. Cash Investment

—

Min. 1031 Investment

—

Total Offering Price

$53,229,065

$170,606 per unit

Offering Debt

$25,300,000

10 years

LTV

47.5%

On acquisition price

Units / Tenants

312

1600 Deer Creek Drive, Xenia, OH 45385

Property Age

Xenia Trails is a garden-style apartment community built in 2005/2008.

The offering covers a 312-unit garden-style multifamily asset in Xenia, OH, purchased for $46,000,000. Total capitalization is $53,229,065, supported by $27,929,065 of equity and $25,300,000 of fixed debt. The leverage profile is conservative at 47.5% LTV with a 2.02x DSCR.

Strengths & considerations

Key strengths

  • Low Leverage Profile

    47.5% LTV

    Conservative leverage reduces refinancing and debt service exposure over the 10-year fixed term.

  • Strong Coverage Ratio

    2.02x DSCR

    Robust debt service coverage provides substantial operational cushion above required debt payments.

  • Established Multifamily Sponsor

    $3.0B AUM

    Hamilton Point Investments manages 66 properties and over 12,000 units with 320+ employees.

Key considerations

  • Syndication Load

    7.75% Load on Equity

    Front-end offering fees and expenses total $2,738,084, alongside a $1,150,000 acquisition fee.

  • Asset Vintage

    Built 2005/2008

    Property age necessitates ongoing capital allocation, supported by a $1,925,000 improvement reserve.

  • Refinancing Fee Clause

    2.5% Fee

    The sponsor or affiliate is entitled to a 2.5% refinancing fee upon future debt restructuring.

The financing is structured with a conservative 47.5% LTV and a strong 2.02x DSCR on a 10-year fixed-rate term. Hamilton Point Investments brings established institutional scale, managing over $3,000,000,000 in AUM and 66 properties totaling over 12,000 units. Substantial capital reserves are established at closing, including $1,925,000 for improvements and $575,000 for master tenant operations.

Sources, uses & fee assessment

Capital Sources

$53.23MTotal offering

  • Offering Equity

    52.5% of offering

    $27.93M

  • Offering Debt

    47.5% LTV on acq.

    $25.30M

Where the Capital Goes

$53.23MDeployed

  • Acquisition Cost

    94.9% of offering

    $50.49M

  • Offering Expenses

    5.1% of offering

    $2.74M

  • Reserves

    9.9% of offering

    $5.26M

Total Offering

$53.23M

Equity $27.93M + debt $25.30M

Acquisition Cost

$50.49M

94.9% of offering to the property

Total Fees & Expenses

$2.74M

6.00% of offering

Reserves

$5.26M

9.9% of offering

Total sources comprise $27,929,065 in offering equity and $25,300,000 in loan proceeds for a total capitalization of $53,229,065. Uses include the $46,000,000 property purchase price, $2,738,084 in total offering expenses and fees, $1,150,000 in acquisition fees, $997,581 in financing expenses and carry costs, and $2,918,400 in total reserve allocations.

Risk read

Tone reflects relative strength, not a rating

Leverage & Debt

Conservative 47.5% LTV with 10-year fixed rate terms and 2.02x DSCR.

The loan structure features fixed-rate financing of $25,300,000 against a $46,000,000 acquisition value, minimizing interest rate risk and default likelihood.

Syndication Fees

Front-end load on equity stands at 7.75%.

Total offering expenses of $2,738,084, paired with a $1,150,000 acquisition fee, constitute typical but material DST equity dilution.

Physical Asset & Vintage

Constructed in 2005/2008 (312 units).

The property is approximately 16-19 years old, requiring capital preservation; $1,925,000 is reserved upfront for property improvements.

Sponsor Scale

Institutional track record with $3B AUM across 66 assets.

Hamilton Point Investments operates 12,000+ units across 13 states with an in-house management team exceeding 320 employees.

Key considerations include a 2005/2008 asset vintage requiring a dedicated $1,925,000 improvement reserve. Upfront offering and acquisition fees total over $3,888,000, creating equity dilution above the base real estate cost. The investment relies on master tenant performance under a Delaware Statutory Trust structure governed by statutory operating restrictions.

Calculated underwriting metrics

Syndicated Cap Rate

—

NOI ÷ offering price

Upfront Load on Offering

6.00%

Total fees ÷ offering price

Load on Equity

7.75%

Total fees ÷ offering equity

Premium / Discount

—

Offering price vs. appraised value

Offering vs. Acquisition

115.7%

Offering price ÷ acquisition price

Price per Unit

$170,606

Offering price ÷ 312 units

The total offering cost of $53,229,065 represents a $7,229,065 (15.7%) spread over the $46,000,000 purchase price. Total front-end fees and expenses of $2,738,084 reflect a 7.75% load on the $27,929,065 equity raise. Capitalized reserves, financing expenses, and acquisition fees comprise the remaining spread above the property purchase price.

Sponsor

Sponsor

Hamilton Point Investments LLC

Hamilton Point Investments LLC was founded in 2010 and focuses on acquiring and managing multifamily real estate. The firm oversees $3.0B in AUM across 66 assets and 12,000+ units, employing over 320 personnel.

Multifamily Specialist$3.0B AUM12,000+ UnitsEst. 2010
Portfolio

• Hamilton Point Investments currently owns and operates 66 properties totaling over 12,000 units in thirteen states.

Properties owned or managed

AUM

$3,000,000,000

Across all programs

DST programs

—

Prior DST offerings

AUM in DSTs

—

DST-held assets

Team

Hamilton Point Investments and its subsidiary property management company employ over 320 people.

Disclosed headcount

Sector focus

Multifamily

Stated strategy

View Sponsor Dossier

Hamilton Point Investments LLC was formed on March 18, 2010, and focuses on commercial real estate investments within the multifamily sector. The sponsor manages approximately $3,000,000,000 in AUM across 66 properties and over 12,000 units in 13 states. Hamilton Point Investments and its affiliated property management company employ more than 320 professionals.