The Heron DST
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The Property consists of one five-story multifamily residential building that was built in 2023.
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$28,261,384
100.0% of portfolio
- Seller
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- Property manager
- CEDARst
The Heron DST seeks to raise $12,625,000 in equity interests to acquire a 2023-built, five-story multifamily property. The purchase price of $28,261,384 compares to an appraised value of $28,300,000 as of February 2, 2026.
Capital structure
Offering Equity$30.36M50.6% · $121,449 / unit
Offering Debt$29.64M
Offering price
$60.0M
Price / unit
$240,000
Units
250
Property age
12 yrs
Projected distribution rate
Avg 6.75%
Year-one distribution of 6.25% stepping to 7.20% by year seven.
The property
Single 2023-vintage five-story multifamily asset
$28,261,384 acquisition price
Sponsor
CEDARst
Asset Type
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Location
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Units
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Property Age
The Property consists of one five-story multifamily residential building that was built in 2023.
Offering Price
$12,625,000
Offering Debt
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Offering Equity
$12,625,000
Offering LTV
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Income % (Yr. 1)
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Avg. Income (Full Term)
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Minimum Cash Investment
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Minimum 1031 Investment
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Strengths
- 2023 vintage construction
- Purchase price of $28,261,384 is within the $28,300,000 appraised value
Concerns
- Single-property asset concentration
- Front-end load of 9.75% on offering equity