CS1031 Texas Active Living Portfolio II, DST is a Capital Square-sponsored all-cash DST owning two boutique active-adult communities in Kerrville and Round Rock, Texas.
The investment is a private Delaware Statutory Trust interest rather than a publicly traded security. Potential liquidity before a sponsor-led exit depends on the specific trust documents, property performance, financing, distributions, transfer restrictions, purchaser qualifications, remaining holding period, and buyer demand.
Capital Square
Delaware Statutory Trust / Active-Adult Portfolio
$32.7 Million / All-Cash
64 Homes / Kerrville & Round Rock, TX
Open As Of October 2026
Limited Private Secondary Market Liquidity
Capital Square launched the offering on June 11, 2026. The SEC Form D filed June 24, 2026 reported a total offering amount of $32.7 million and no sales as of that initial filing date.
The acquisition was structured without mortgage debt. Capital Square's current offering materials list the program as open.
The portfolio includes Emerald Cottages of Kerrville and Emerald Cottages Round Rock, each containing 32 single-story homes designed for residents age 55 and older.
Capital Square reported both communities as 100% occupied with waitlists as of June 2026. Kerrville reported 91% trailing-12-month resident retention; Round Rock reported 81%, with zero bad debt and no rental concessions reported for each property.
For secondary-market purposes, potential buyers may review occupancy, rents, resident demand, operating expenses, capital requirements, local supply, insurance, property taxes, debt service, and the expected path to a sponsor-led exit.
Alternative Investment Liquidity evaluates certain Texas Active Living Portfolio II DST interests for potential direct private purchase or other secondary-market liquidity.
Potential Direct Private Purchase
Baron De Biltmore LLC
AIL Reviews Eligible Positions
Determined By Position Review
Property, Debt, Income, Exit Timing & Transferability
Subject To Documentation Review
Any potential purchase indication is separate from the investor's original investment amount, tax basis, account statement value, sponsor-related valuation reference, or projected future proceeds.
Any offer represents the amount a purchaser is willing to pay under the applicable terms and should not be interpreted as an independent appraisal or determination of underlying fair value.
Potentially. A transfer depends on the governing trust documents and applicable sponsor, trustee, lender, purchaser-qualification, ownership, and assignment requirements.
Positions held in an IRA, trust, estate, LLC, partnership, corporation, or other entity may require additional documentation establishing ownership and authority to complete a transaction.
Legal transferability does not mean that a ready purchaser or continuous secondary market exists.
Capital Square DST interests are commonly used as replacement property in Section 1031 exchanges. A later private sale or transfer may have tax consequences that differ materially from the original exchange.
Potential considerations may include deferred gain, depreciation recapture, debt allocation, future exchange planning, and timing relative to a sponsor-led disposition.
Alternative Investment Liquidity does not provide tax, legal, investment, accounting, or valuation advice. Investors should consult qualified professionals regarding their circumstances.
Private secondary-market liquidity may be relevant to investors who want to exit before the eventual sponsor-led disposition of the two-community portfolio.
The DST secondary market does not operate like a national securities exchange. There is generally no continuously quoted price, centralized order book, or guarantee that a buyer will be available.
Potential pricing may reflect property performance, distributions, debt, remaining hold period, transfer requirements, execution risk, and current buyer demand.
Learn more about the DST secondary market.
Occupancy, effective rents, resident demand, operating expenses, capital requirements, and local market conditions can affect buyer expectations.
Capital Square states that the portfolio was acquired on an all-cash basis with no mortgage debt.
Current and historical distributions may be relevant, but should be evaluated with property cash flow, reserves, debt service, and future capital requirements.
A position believed to be closer to a sponsor-led disposition may be evaluated differently from one expected to remain outstanding for several additional years.
Sponsor procedures, purchaser qualifications, documentation, position size, execution risk, and current private-market demand can influence marketability and pricing.
A recent investor or account statement identifying the exact DST and current ownership amount is generally the best starting point.
Alternative Investment Liquidity reviews Texas Active Living Portfolio II DST positions for investors seeking information about potential liquidity, transferability, valuation considerations, current buyer interest, and possible direct purchase opportunities.
For eligible positions, AIL may be able to facilitate a direct private purchase through Baron De Biltmore LLC or evaluate another potential secondary-market liquidity pathway.
Request a Confidential Investment Review for a Texas Active Living Portfolio II DST position.
Research is based primarily on Capital Square's June 11, 2026 launch announcement, the June 24, 2026 SEC Form D, and Capital Square's current offering materials.
Program terms, property information, distributions, financing, transfer procedures, and other investment details may change after the applicable reporting date. Investors should review the current governing documents and sponsor communications for the specific DST.
Secondary market interest depends on more than asset type. AIL evaluates each position based on investment structure, transferability, documentation, and current market conditions.
Ownership type, sponsor requirements, investment terms, and underlying asset characteristics all influence review.
Some positions may be subject to transfer restrictions, approval requirements, or limitations within governing documents.
Offering materials, account records, ownership documents, and sponsor information help determine whether review can proceed.
Potential liquidity depends on current buyer interest, asset category, pricing expectations, and transaction feasibility.
Every opportunity is reviewed individually. Our process is designed to provide clarity regarding transferability, marketability, and potential liquidity pathways before any transaction decisions are made.
Provide basic details regarding the investment position, ownership structure, and available documentation.
AIL evaluates the investment type, transfer restrictions, sponsor requirements, and available transfer pathways.
We determine whether a secondary market opportunity may exist based on current investor demand and transaction activity.
If a viable pathway exists, we discuss potential next steps, timing considerations, and transaction requirements.
Submit basic information for a confidential review. Opportunities are evaluated individually based on investment structure, available documentation, transferability, and potential market interest.
REQUEST CONFIDENTIAL REVIEW