The Trust owns Preston Ridge, a 340-unit garden-style apartment community on about 24 acres in Hickory, North Carolina, built in two phases (2020 and 2023) and about 89% occupied at acquisition in January 2026. The entire property is master leased to an affiliate of the sponsor, which pays base rent plus percentage rent equal to 80% of gross revenue above a baseline and keeps any remaining revenue. The Trust's stated objectives are to distribute rent after debt service and expenses (projected at 4.45% rising to 5.19% of investor equity), amortize debt for part of the hold, preserve capital, and prepare the property for sale in about 10 years.