Your 1031 DST Authority
LSC Fort Washington MD DST
Offering Overview
LSC Fort Washington MD DST is a $42.73 million total-capitalization Delaware statutory trust investment in Chestnut Oaks, a 150-unit active-adult community at 1800 Palmer Road in Fort Washington, Maryland. The offering includes $21.53 million of equity and a $21.2 million Morgan Stanley Bank loan at a fixed 5.95% interest-only rate through February 2036.
Investment Highlights
- 150-unit active-adult community with 25 one-bedroom and 125 two-bedroom apartments.
- Built in 2007 on approximately 11.027 acres with 143,632 net rentable square feet.
- 95.3% occupied as of June 2, 2026, with reported occupancy above 91% since January 2023.
- Washington-Arlington-Alexandria MSA location near National Harbor, major highways, healthcare, and transportation.
- Master lease and active-adult operating model with monthly distributions described in the offering materials.
Forecasted Cash Flow
Projected annual cash-on-cash distributions with the corresponding tax-equivalent yield over the hold, based on the sponsor’s underwriting assumptions.
Illustrative projections only — targeted distributions are not guaranteed and actual results will vary. Tax-equivalent yield assumes depreciation shelter of distributed income.
Analyst Notes
The forecast is most sensitive to occupancy, rent growth, operating expenses, capital reserves, master-tenant performance, and the February 2036 loan maturity.
Pros
Senior-living / active-adult demand, Washington-area location, recent capital improvements, and fixed-rate interest-only debt.
Cons
Single-asset concentration, master-tenant dependence, senior-housing operating risk, limited liquidity, and refinancing or maturity risk.
Financing
Financing terms for this offering are summarized below.
Benchmark Comparison
| Metric | This Offering | Benchmark | Difference |
|---|---|---|---|
| Average Yield | 5.30% | — | — |
| Max Yield | 8.81% | — | — |
| 10-Yr Income Growth | 91.52% | — | — |
Benchmark reflects the average of comparable Senior Living offerings. Differences are relative to the benchmark.
Offering Documents
About the Sponsor
Livingston Street Capital is a New York thematic sponsor, founded in 2016, built around a focused demographic bet on Active Adult (55+) and Independent Living housing, which it operates through its vertically integrated Allure Lifestyle Communities platform. With more than 2,300 active-adult and independent-living units plus over a million square feet of commercial assets, and a leadership team citing $20 billion-plus in career transactions, the firm pairs a clear secular thesis with operating control. Current AUM is not publicly disclosed, but the specialized, operator-led model is its defining feature.
This page describes a specific Delaware Statutory Trust offering (LSC Fort Washington MD DST) and is provided for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any security. Any offering is made solely to verified accredited investors and only by means of a confidential private placement memorandum (PPM).
All figures shown — including minimum investment, cash-flow projections, tax-equivalent yield, loan-to-value, and hold period — reflect the sponsor's current estimates and assumptions and are not guarantees of future performance. Tax-equivalent yield depends on each investor's tax circumstances; projected distributions may not be achieved and actual results will vary. Sponsor track record, benchmark data, and full-cycle averages describe prior programs and are not indicative of the results of this offering.
An investment in a DST is speculative, illiquid, and involves a high degree of risk, including the possible loss of the entire amount invested. There is no public market for these interests, distributions are not guaranteed, and investors have no control over property operations. 1031 exchange and tax treatment depend on each investor's individual circumstances and on tax laws that are subject to change; consult your own tax and legal advisors.
Tax-equivalent yield represents the pre-tax yield a fully taxable investment would need to generate in order to match the after-tax cash flow of this offering. It assumes that a portion of distributions is sheltered by depreciation and other deductions, and it depends entirely on each investor's individual tax bracket, state of residence, and holding structure. It is illustrative only and is not a projection of return. Cap rate equivalent is the implied capitalization rate (net operating income divided by purchase price) shown solely for comparison to direct real estate; it is not a distribution rate, a yield, or a measure of investor return.
This offering and all terms shown are subject to change, withdrawal, or cancellation at any time without notice, and availability is not guaranteed. Nothing on this page creates a commitment or reservation. An investment is confirmed only upon the sponsor's acceptance of fully executed subscription documents; no other communication, indication of interest, or reservation constitutes a binding investment.