The trust owns The Remy on the Trails, a 330-unit Class A apartment community built in 2023 in west Houston, Texas, bought from an unaffiliated seller in August 2024. The property is master leased to a sponsor-affiliated master tenant that runs it through RPM Living and pays rent covering debt service and reserves, plus additional and bonus rent from property income above set breakpoints. The plan is to collect monthly cash flow over a hold of about seven years and sell the property before the fixed-rate, interest-only Freddie Mac loan matures in September 2031. The offering is built for investors completing Section 1031 exchanges.