← Back to all investments
LSC Fort Washington MD DST property photo

LSC Fort Washington MD DST

Sponsored by Livingston Street Capital
Minimum Investment$100,000
Total Offering$42,730,000
Available Equity$21,530,000 100.00% available
Equity$21,530,000
Debt$21,200,000
In-Place LTV49.60% LTV
Average Yield5.30%
Est. Tax-Adjusted Yield¹11.44%
Cap Rate Equivalent8.51%
LocationMD
Estimated Hold Period10 years
721 Exchange ExitNone
Total LoadNot Disclosed
StrategyCore
StatusAvailable

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.

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.

Analysis

Insights

The forecast is most sensitive to occupancy, rent growth, operating expenses, capital reserves, master-tenant performance, and the February 2036 loan maturity.

Advantages

Senior-living / active-adult demand, Washington-area location, recent capital improvements, and fixed-rate interest-only debt.

Concerns

Single-asset concentration, master-tenant dependence, senior-housing operating risk, limited liquidity, and refinancing or maturity risk.

Projected Distributions

Average Yield5.30%
Est. Tax-Adjusted Yield¹11.44%
Cap Rate Equivalent8.51%
Y14.60%
Y24.60%
Y34.65%
Y44.70%
Y54.75%
Y64.90%
Y75.10%
Y85.30%
Y95.55%
Y108.81%

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

LenderMorgan Stanley Bank, N.A.
Interest Rate5.95% fixed
Loan Term10 years; maturity 2/1/2036
I/O Period10 years
AmortizationN/A (interest-only)
Y1 DSCR1.80x (Year 1 forecast)

Benchmarks

Avg. Income
This deal5.30%
Market
Not Analyzed
Growth
This deal91.52%
Market
Not Analyzed
Peak
This deal8.81%
Market
Not Analyzed

Benchmarks compare this offering’s projected figures against sector medians computed across current offerings tracked by Baker 1031 Investments as of the last-updated date shown. Benchmark data is internal, unaudited, and subject to change.

Documents