PG Orlando Nona DST, a Delaware statutory trust, owns a dual-branded Hilton hotel in Lake Nona, Orlando, Florida, comprising a 70-room Home2 Suites and an 80-room Hampton, totaling 150 rooms. The property commenced operations in 2023. The Trust master leases the property to PG Orlando Nona Master Tenant, LLC, a Sponsor-controlled entity that engages a Sponsor-affiliated property manager. The rent structure provides Base Rent, Additional Rent equal to 100% of gross income between specified thresholds, and Bonus Rent equal to 70% of gross income above a second threshold. Monthly distributions depend on net cash flow and the property's operating performance. The Trust appears to carry no debt, anticipates an approximately eight-year Original Term, and seeks to qualify as a Section 1031 replacement property.