CF Biscayne Multifamily DST

Overview

CF Biscayne Multifamily DST is a $236.0 million Delaware Statutory Trust sponsored by Cantor Fitzgerald, offering Biscayne Shores - a 380-unit Class A multifamily community on 8.20 acres at 11295 Biscayne Boulevard in Miami, Florida. The trust is capitalized with $112.65 million of equity and a $123.3 million Freddie Mac loan fixed at 4.84% (interest-only through 2031), and projects a 4.30% first-year distribution stepping to 3.75% in years 6-7 (4.14% average) over a seven-year hold. Minimum investment is $250,000, with a Section 721 exchange option into Cantor Fitzgerald Income Trust (CFIT).

Highlights

380-unit Class A multifamily community on Biscayne Boulevard in Miami, Florida (10,900+ Cantor-managed units in the Miami MSA).

4.30% first-year distribution (4.14% average over a 7-year hold).

$123.3M Freddie Mac loan fixed at 4.84%, interest-only through 2031; 52.26% LTV.

Sponsored by Cantor Fitzgerald; Section 721 UPREIT exchange option into Cantor Fitzgerald Income Trust (CFIT).

$250,000 minimum; value-add kitchen-island program across roughly 144 units.

Analysis

Insights

A core-plus Miami multifamily DST with agency leverage and a clear 721 path into CFIT. Best for investors prioritizing sponsor quality and UPREIT optionality over headline current yield.

Advantages

Institutional Cantor Fitzgerald sponsorship with a sizable affiliated REIT for the 721 exit; stabilized Class A multifamily in a supply-constrained Miami submarket; long-term fixed-rate agency debt; modest 7.5% load.

Concerns

Distribution steps down to 3.75% in years 6-7 as interest-only converts to amortizing; high $250,000 minimum; FMV cash election capped at 5%; Miami insurance and supply pressures.

Projected Distributions

Average Yield4.14%

Est. Tax-Adjusted Yield¹11.14%

Cap Rate Equivalent8.43%

Y14.30%

Y24.30%

Y34.30%

Y44.30%

Y54.30%

Y63.75%

Y73.75%

Projected, not guaranteed. Distribution rates are the sponsor’s projections, are not a promise of performance, and can be reduced or suspended. ¹ Estimated Tax-Adjusted Yield reflects the projected impact of depreciation and amortization deductions at an assumed combined federal and state tax rate; individual tax outcomes vary — consult your CPA regarding your specific situation. Cap Rate Equivalent is a Baker 1031 Investments calculation intended to allow comparison with direct property ownership; it is not a sponsor-reported figure and does not represent a rate of return. See the private placement memorandum for the assumptions behind these figures.

Financing

LenderWalker & Dunlop (Freddie Mac)

Interest Rate4.84% (Fixed)

Loan Term7 years

I/O Period5 years

Amortization30 years (after I/O)

Y1 DSCR1.93x

Benchmarks

Avg. Income

This deal4.14%

Market4.99%

Below Average

Growth

This deal0.00%

Market25.67%

Not Analyzed

Peak

This deal4.30%

Market5.34%