The Trust owns The Arboretum, a 292-unit build-to-rent community of townhomes, garden-style homes and stacked flats completed in 2023 and 2024 in Farmingville, Long Island, NY, with 30 affordable units. It leases the whole property to an IPC affiliate under a master lease and aims to pay monthly distributions from rent, preserve property value and eventually sell. The offering is built mainly for 1031 exchange buyers, with roughly $97,135 of loan allocated to each $100,000 invested.