Croatan Investments, a multifamily investment manager for private wealth, institutional and retail capital, has closed of its first full-cycle Delaware Statutory Trust (DST) offering, Croatan North Oaks DST. Over the two-year hold period, the property generated 220 percent net returns, including returning capital contributions to investors.
North Oaks Landing is a 200-unit garden-style apartment community located in Raleigh, N.C., and was originally purchased by Croatan Investments as a value-add investment in 2014. The asset was repositioned as a stabilized, cash-flowing, class B+ property when Croatan sponsored the asset as a DST offering. The $12.3 million in equity was syndicated to 37 retail 1031 exchange investors between 2019 and 2020.
“The successful sale of North Oaks Landing is an example of Croatan’s dynamic and data-driven three-pillar strategy,” said Paul Van, Croatan CEO. “We’re excited to grow our footprint in the DST space and bring retail inv
