Offering summary
Velocis Maple Grove BTR DST is a Delaware Statutory Trust offering sponsored by Velocis Exchange, LLC to acquire a 66-unit built-to-rent residential property located at 7132 Maple Grove Way in Ruther Glen, VA. Built in 2023, the property is being acquired for a purchase price of $18,000,000, with a total acquisition cost of $20,078,124 including reserves and transaction costs. The capital structure consists of $11,310,634 in offering equity and $10,117,000 in fixed-rate debt, representing an offering LTV of 47.21%. Financing is secured for a 10-year term at a fixed interest rate of 5.13%, supporting an initial debt service coverage ratio (DSCR) of 3.38x. The offering targets a Year 1 projected cash distribution of 5.01% and an average income of 5.17% over the full holding term. Upfront offering expenses and fees total $1,349,510, with up to 6.00% in selling commissions.
Capital raise
0.0% of the offering is closed
$11,310,634 still available
$11,310,634
$0
0.0% of offering$0
Pending subscription$11,310,634
Open for subscriptionThe trust is raising $11,310,634 in offering equity alongside $10,117,000 in debt to acquire the single-property asset. Front-end load components include up to 6.00% selling commissions, a dealer fee of $395,872, a wholesaling fee of $395,872, and $275,000 in organization and offering expenses. Year 1 projected distribution is 5.01%, increasing to an average of 5.17% across the holding term.
Offering terms
Sector
Build-To-Rent (BTR)
Investment Category
DST
Projected First Year Cashflow
5.01%
Avg. 5.17% over term
Min. Cash Investment
—
Min. 1031 Investment
—
Total Offering Price
$11,310,634
$171,373 per unit
Offering Debt
$10,117,000
5.13% · 10 year Loan term
LTV
47.21%
On acquisition price
Units / Tenants
66
7132 Maple Grove Way, Ruther Glen, VA
Property Age
The Maple Grove property was built in 2023.
The offering features a newly constructed 2023 built-to-rent asset comprising 66 units in Ruther Glen, VA, capitalized with $11,310,634 of equity and $10,117,000 of fixed debt. The capital structure carries a conservative 47.21% LTV and a strong 3.38x DSCR under 5.13% 10-year debt. Initial projected cash yield is 5.01%, with full-term average income projected at 5.17%.
Strengths & considerations
Key strengths
Conservative Leverage & Debt Coverage
47.21% LTV / 3.38x DSCRThe debt structure incorporates 10-year fixed financing at 5.13%, establishing a 3.38x DSCR and a low 47.21% acquisition/offering LTV.
Modern Asset Vintage
2023 ConstructionThe Maple Grove property was built in 2023, offering 66 new built-to-rent units with limited initial deferred maintenance.
Established Sponsor Platform
$3.2B AUMVelocis Exchange brings 160+ years of combined partner experience and manages $3.2B in real estate assets.
Key considerations
Single-Asset Concentration
1 Property / 66 UnitsThe trust holds a single built-to-rent asset in Ruther Glen, VA, concentrating risk in one submarket.
Upfront Load and Expenses
$1,349,510 Front-End FeesUpfront fees include up to 6.00% selling commissions, $405,000 acquisition fee, and $395,872 dealer and wholesaling fees.
Appraised Value Undisclosed
Not DisclosedThe offering documentation does not disclose a separate third-party appraised value or going-in cap rate.
Key credit strengths include a low offering leverage profile of 47.21% and a robust 3.38x DSCR under fixed 10-year financing at 5.13%. The asset is newly constructed (2023 vintage), minimizing near-term capital expenditure exposure. Additionally, the sponsor brings $3.2 billion in assets under management and over 160 years of combined partner experience.
Sources, uses & fee assessment
Capital Sources
- $11.31M
Offering Equity
100.0% of offering
- $10.12M
Offering Debt
47.21% LTV on acq.
Where the Capital Goes
- $20.08M
Acquisition Cost
177.5% of offering
- $1.35M
Offering Expenses
11.9% of offering
- $710K
Reserves
6.3% of offering
Total Offering
$11.31M
All equity — no mortgage debt
Acquisition Cost
$20.08M
177.5% of offering to the property
Total Fees & Expenses
$1.35M
6.00% of offering
Reserves
$710K
6.3% of offering
Total capitalization of $20,078,124 is funded through $11,310,634 in offering equity and $10,117,000 in senior debt. Uses comprise the $18,000,000 acquisition price, $1,349,510 in total upfront fees and offering expenses, $339,319 in finance expenses, and funded reserves including $546,560 for improvements, $104,363 for lender-required reserves, and $58,810 for master tenant reserves.
Risk read
Tone reflects relative strength, not a rating
Leverage & Debt Structure
Low leverage with 10-year fixed rate of 5.13% and 3.38x DSCRThe loan of $10,117,000 represents 47.21% LTV with fixed debt service coverage of 3.38x over a 10-year term.
Asset & Submarket Concentration
Single-property exposure in Ruther Glen, VAThe trust owns 100% of a single 66-unit built-to-rent property, concentrating revenue on local submarket fundamentals.
Front-End Load & Fees
Upfront syndication fees total $1,349,510Front-end load includes up to 6.00% selling commissions, $405,000 acquisition fee, and $395,872 wholesaling fee.
Property Vintage & Reserves
2023 build supported by $709,733 in total reservesAsset was constructed in 2023 and benefits from $546,560 improvement reserves, $104,363 lender reserves, and $58,810 master tenant reserves.
Investment considerations include single-asset and geographic concentration risk inherent in owning 66 units at one location in Ruther Glen, VA. Total upfront fees and transaction expenses of $1,349,510 represent an initial load on invested equity. Operating performance and distributions depend on master lease execution and underlying residential rental demand.
Calculated underwriting metrics
Syndicated Cap Rate
9.74%
NOI ÷ offering price
Upfront Load
6.00%
Total fees ÷ offering price (all-equity offering)
Premium / Discount
—
Offering price vs. appraised value
Offering vs. Acquisition
62.8%
Offering price ÷ acquisition price
Price per Unit
$171,373
Offering price ÷ 66 units
The total acquisition capitalization stands at $20,078,124, funded by $11,310,634 in equity proceeds and $10,117,000 in debt financing. Total upfront fees and offering expenses are $1,349,510, with total upfront fees including reserves amounting to $1,778,732. The syndicated cap rate is stated at 9.74%, supported by a low 47.21% leverage structure.
Sponsor
Sponsor
Velocis Exchange, LLC
Velocis Exchange, LLC is an experienced DST sponsor managing $3.2 billion in assets under management. The firm's partners possess over 160 years of combined real estate experience, with focused expertise in tax-advantaged 1031 exchange structures and built-to-rent residential assets.
The sponsor’s DST vehicle is structured to own a single property, and investors purchase interests in the trust that in turn owns 100% of that property.
Properties owned or managed
$3,200,000,000
Across all programs
—
Prior DST offerings
—
DST-held assets
—
Disclosed headcount
Build-To-Rent (BTR)
Stated strategy
Velocis Exchange, LLC serves as the sponsor, backed by over 160 years of combined partner real estate experience and $3,200,000,000 in assets under management. The firm specializes in Delaware Statutory Trust structures and tax-advantaged real estate investments with a sector focus that includes built-to-rent (BTR) assets. Compensation includes an acquisition fee of $405,000, an annual asset management fee of $40,000, and a 2.5% disposition fee.