DST sponsor profile
Denholtz
Firm facts, program history and offerings on Baker 1031. Alphabetical and unranked; not an endorsement.
Facts checked Jerry Baker
The short answer
Denholtz is a real estate investment firm in Red Bank, New Jersey, that began sponsoring Delaware Statutory Trusts (DSTs) through its Denholtz Wealth Exchange platform. According to a company press release, Denholtz was founded in 1953. Its first DST, DX SB Industrial I DST, holds a flex industrial property in Tampa, Florida.
Key facts
- Sponsoring entity
- Denholtz Wealth Exchange LLC
- Headquarters
- Red Bank, NJ
- Founded
- 1953
- DST or TIC programs since
- 2025
- Program types
- DST
- Property types
- Industrial
- Managing broker-dealer
- Orchard Securities, LLC (CRD 133378)
- SEC filings
- EDGAR (CIK 0002144551)
From the sponsor's own website and public filings, checked November 1, 2026. Sources are listed in the full profile.
Denholtz offerings on Baker 1031
No offerings from this sponsor are currently available through Baker 1031. See current DST offerings.
About Denholtz
Denholtz is a real estate firm based in Red Bank, New Jersey. Some of its SEC filings also use the name Denholtz Properties. Its SEC filings use the address 116 Chestnut Street, Suite 102, Red Bank.
A Denholtz press release from December 2025 says the firm was founded in 1953. The same release says Denholtz manages over $2 billion in assets, with a portfolio of over seven million square feet. It lists industrial, residential, retail, office and mixed-use strategies. These figures are the company's own statements as of that release.
Steven Denholtz is listed as Chairman on the company's DST filing. Stephen Cassidy is listed as Managing Partner.
Denholtz has also raised money through private LLCs. A search of SEC EDGAR shows 22 Form D filings from Red Bank that mention Denholtz, most of them for investor LLCs. Examples include Denholtz ICP Investor LLC (2021), Denholtz Industrial 2021 Investor LLC (2022), Denholtz Haven Investor LLC (2024) and Denholtz Greenville SC Investor LLC (2025). These are not DSTs, and the filings reviewed do not describe them as 1031 programs.
Denholtz's DST and 1031 programs
A Delaware Statutory Trust is a trust that owns real estate. Many investors each own a fractional interest. A DST interest can qualify as replacement property in a 1031 exchange. DSTs are illiquid, distributions are not guaranteed, and the investment can lose value. Most DSTs are sold only to accredited investors.
Denholtz runs its DST line under the name Denholtz Wealth Exchange. Its press release calls this "the firm's new tax-deferred real estate investment platform."
The first program is DX SB Industrial I DST. The release describes its property, Sweetwater Business Center, as "a nine-building, 225,789 RSF shallow bay flex industrial property in Tampa, Florida." RSF means rentable square feet.
The release says the offering was made to accredited investors. It describes them as investors "seeking to complete a Section 1031 exchange or to invest in a property interest that may be eligible for another Section 1031 exchange upon disposition."
The trust's Form D gives these details:
- Sponsor. Denholtz Wealth Exchange LLC.
- Manager and signatory trustee. DX SB Industrial I Manager LLC. The signatory trustee acts for the trust under the trust agreement.
- Depositor. DX SB Industrial I Depositor LLC.
- Offering size. $18,539,860 in total offering amount.
- Minimum investment. $100,000.
- First sale. November 18, 2025.
The release names Orchard Securities, LLC, member FINRA/SIPC, as "the exclusive managing broker-dealer." A managing broker-dealer organizes the group of firms that sell the offering.
EDGAR shows one Denholtz DST so far, so there are no completed Denholtz DSTs to review. Ask about the firm's record with its other private investments instead.
How to research Denholtz's offerings
Search SEC EDGAR for "DX SB Industrial I DST" or "Denholtz" to find the Form D, which lists the sponsor entities, officers and minimum investment. Read the private placement memorandum (PPM) for the offering; the guide to reading a DST offering shows where fees, loan terms and the business plan appear. You can look up Orchard Securities, LLC on FINRA BrokerCheck. Ask the sponsor whether the trust uses a loan, what fees it charges and how its earlier private deals turned out. The checklist for checking a DST sponsor lists more questions.
Frequently asked questions
Is Denholtz a DST sponsor?
Yes. Denholtz Wealth Exchange LLC, the name of the firm's DST platform, is the sponsor of DX SB Industrial I DST. That trust's Form D lists a first sale on November 18, 2025.
What is Denholtz Wealth Exchange?
Denholtz calls it the firm's tax-deferred real estate investment platform. It is the name Denholtz uses for its DST programs.
Where is Denholtz headquartered?
Its SEC filings list 116 Chestnut Street, Suite 102, Red Bank, New Jersey. Its press release carries a Red Bank dateline.
When was Denholtz founded?
According to its December 2025 press release, Denholtz was founded in 1953.
What property does Denholtz's first DST own?
DX SB Industrial I DST owns Sweetwater Business Center, a nine-building flex industrial property in Tampa, Florida. The release lists it at 225,789 rentable square feet.
How do I look up Denholtz's DST offerings?
Search SEC EDGAR for "DX SB Industrial I DST" or "Denholtz" to find the Form D, which lists the sponsor entities, officers and minimum investment. You can look up Orchard Securities, LLC on FINRA BrokerCheck.
Questions to ask about any DST sponsor
- Full-cycle results
- Ask for every program the sponsor has sold, including any that went back to a lender, and how investors came out of each one.
- Fees and loads
- Find the total load in the private placement memorandum (PPM): selling commissions, dealer-manager fees, acquisition and financing fees, and fees at sale.
- Debt
- Check the loan amount, rate, term and maturity date, and what happens if the loan can't be refinanced when it comes due.
- Reserves and capitalization
- See how much is held in reserve for repairs and vacancy, and whether the sponsor has the capital to support a property through a hard stretch.
- Conflicts of interest
- Read the PPM's conflicts section: affiliated managers, master lease arrangements, and any 721 exchange into the sponsor's own REIT.
- Regulatory record
- Look up the managing broker-dealer on FINRA BrokerCheck, and search the sponsor's filings on SEC EDGAR.
For a step-by-step version, see how to check a DST sponsor and how to evaluate a DST sponsor.
Sources
- Business Wire, Denholtz press release, "Denholtz Launches First Delaware Statutory Trust, Announces Full Reservation of DX SB Industrial I," December 2025: https://www.businesswire.com/news/home/20251222096047/en
- SEC EDGAR full-text search, Form D filings mentioning Denholtz: https://efts.sec.gov/LATEST/search-index?q=Denholtz&forms=D
- SEC EDGAR, Form D, Bound Brook QOF LLC (c/o Denholtz Properties): https://www.sec.gov/Archives/edgar/data/1933652/000193365222000001/primary_doc.xml
- SEC EDGAR, Form D, DX SB Industrial I DST: https://www.sec.gov/Archives/edgar/data/2144551/000214455126000001/primary_doc.xml
- FINRA BrokerCheck, Orchard Securities, LLC: https://brokercheck.finra.org/firm/summary/133378
This profile is general information about Denholtz, drawn from its own website and public filings. It is not an endorsement or recommendation of the sponsor or any of its offerings, and sponsors are listed alphabetically, not ranked. Baker 1031 may receive compensation from sponsors whose offerings it makes available. DST and other real estate securities are speculative and illiquid, distributions are not guaranteed, and you can lose your entire investment. Most are available only to accredited investors. This isn't tax or legal advice; talk with your CPA, attorney and qualified intermediary. Securities are offered through Aurora Securities, Inc., member FINRA/SIPC.