Cunat, a privately held real estate investment, development and property management firm, has announced the launch of Cunat Exchange X DST, the firm’s 10th Delaware statutory trust (DST) offering, which is seeking to raise $56.17 million in equity from accredited investors. The DST owns The Residence of Fox Meadows, a newly developed 540-unit multifamily community in McHenry, Ill., approximately 50 miles northwest of Chicago. Consistent with its prior DSTs, in which it has held interests of 5 percent to 20 percent, Cunat will retain a 5 percent interest in the trust, bringing total equity to $59.125 million.
Cunat developed The Residence of Fox Meadows and sold the property to the DST for $135 million. The 18-building community sits on approximately 37 acres and was 97.5 percent occupied as of Nov. 1. It is one of 15 Cunat properties in McHenry County, where the firm is headquartered.
The property is financed with an $84.4 million, 10-year, interest-only, nonrecourse
