1031 DST Replacement Finder | Match Equity, Debt and Value

1031 DST Replacement FinderHide

Each DST has its own loan-to-value (LTV), so combining several DSTs for a 1031 exchange can get complicated. Enter your sale’s equity and debt and the DSTs you’re considering, from NexTrend Securities or any other source. The Finder splits your equity evenly across combinations of 2 to 5 DSTs and shows which come closest to replacing your relinquished property’s equity, debt and value. The results are math only, based on your inputs, and not advice to invest in any particular DST. See How to read this finder below.

	Sale	EquityFor a DST: your equity from the sponsor’s sale statement. Otherwise, the cash from the sale held by your qualified intermediary.	DebtYour share of the loan paid off at the sale, from the sponsor’s statement or the closing statement.	RE ValueEquity plus Debt: the value of the property sold.	% EquityPercentage of the property value represented by equity.	% DebtPercentage of the property value represented by debt.
	Property sold	$	$	$0.00	0.00%	0.00%

DSTs being considered

Load a list saved from Excel as a .csv file (File › Save As › CSV), with the columns Sponsor, DST name and LTV. It replaces the whole list.

Paste from Excel: copy your columnsThree columns, in this order: Sponsor, DST name and LTV, one DST per row. Include the heading row if you have one. Sponsor can be blank., right-click any box, choose Paste.

#	Sponsor (optional)	DST name	LTVThe DST’s LTV from its offering documents.

Copies your DST list so you can paste it into a file or email to keep it, or into this tool on another computer.Empties the whole DST list. Press Undo to bring it back.

Number of DSTsHow many DSTs to split the equity across. Tick more than one to compare. 2 3 4 5

Round each amountRounds each DST’s share of the equity to a round amount. One DST takes the odd amount so the total still equals your Equity.

Show per groupHow many of the closest combinations to show for each number of DSTs.

Enter the sale’s Equity and Debt and at least two DSTs with an LTV. The closest matches show here.

IMPORTANT: This tool shows which combinations of the DSTs entered come closest to the sale’s LTV when the equity is split evenly. It uses only the figures you enter, considers no other investments and favors none. Results are not a recommendation to invest in any DST, whether offered by NexTrend Securities or any other source, and a DST that matches the LTV may not be suitable for you. LTV is one factor of many; each DST must be reviewed on its own offering documents, including its risks, fees, debt terms, minimums and availability. A 1031 exchange must replace the equity, the debt and the value; a debt shortfall may be taxable boot unless covered by added cash. DST interests are illiquid, involve risk including possible loss of principal, and are available only to accredited investors. This is not an offer to sell a security; an offering is made only by the sponsor’s Private Placement Memorandum, which should be read in full. Consult your tax advisors. Risk disclosures: nextrend1031.com/risk-disclosures/

How to read this finder

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What do I enter first?

Type the Equity and Debt from the property sold. RE Value, % Equity and % Debt fill in by themselves. % Debt is the LTV to match. If the property had no debt, type 0 in Debt.

Example: Equity $600,000 and Debt $500,000 give an RE Value of $1,100,000, % Equity of 54.55% and % Debt of 45.45%.

How do I enter the DSTs?

For each DST, enter the sponsor (optional), the DST name and its LTV. Each row needs an LTV and a sponsor or a DST name. There are three ways:

Paste from a spreadsheet (fastest): in Excel, select the Sponsor, DST name and LTV cells (headings included is fine) and copy. Then right-click any box and choose Paste (or press Ctrl+V). All the rows fill at once.
Type them into the boxes.
Load a file: click Import list (.csv) and pick a .csv file with the same columns (in Excel: File › Save As › CSV). All the rows fill at once.

Important — for best results: set up your spreadsheet with three columns, headed exactly Sponsor, DST name and LTV, in that order, one DST per row. Include the heading row when you copy or save the file.

Your spreadsheet should look like this:

Sponsor	DST name	LTV
Sponsor A	Multifamily Fund II	0.00%
Sponsor B	Industrial Portfolio	25.00%
Sponsor C	Medical Office V	40.00%
Sponsor D	Senior Housing II	50.00%

Sponsor or DST name can be blank, but not both. The LTV can be typed as 40, 40% or 40.00%.

The list starts with 12 rows and holds up to 25 DSTs. + DST adds a row, and pasting or importing a longer list adds rows by itself.

How do I remove a DST or undo a change?

To remove a DST, click the × at the end of its row. To bring it back, click the undo icon that takes its place. The undo icon shows on the last row you cleared; use Undo for earlier ones. Undo and Redo step back and forward through your changes to the DST list.

Where is my DST list saved?

Your DST list is saved only in this browser. When you refresh or come back later, the DSTs are still there. To keep it or use it on another computer, press Copy DST list and paste it into a file or email.

The sale’s Equity and Debt are never saved, and nothing is sent to the website. The Equity, Debt and results start empty each time.

To start a new list, press Clear DST list.

How does the finder pick the matches?

Under Number of DSTs, tick the sizes you want (2, 3, 4 and/or 5). The results update by themselves when you tick a box, change a setting, or finish typing in a box. Each ticked size gets its own table; if a size can’t be shown, a note above the results says why. The finder tries every combination of that many DSTs from your list and splits the equity evenly in each one.

Example: $600,000 across 2 DSTs puts $300,000 in each.

Results are listed closest first, grouped by number of DSTs. Each DST must receive at least $25,000; combinations that would put a DST below that are not shown.

How is each DST’s debt worked out?

LTV is a share of the property, not of your equity. At 40% LTV, every $100 of property is $40 of debt and $60 of equity, so every $60 of equity carries $40 of debt.

Example: $300,000 at 40% LTV carries $200,000 of debt. At 50% LTV, equity and debt are equal, so $300,000 carries $300,000.

How do I read the results?

Each DST is shown on its own line, then the Total line is compared to the sale:

Sponsor – DST	LTV	Equity	Debt	RE Value	Debt vs sale
DST A	40.00%	$300,000	$200,000	$500,000
DST B	50.00%	$300,000	$300,000	$600,000
Total	45.45%	$600,000	$500,000	$1,100,000	Matched

Matched: the Total Equity, Debt and RE Value equal the sale’s, and the Total LTV equals the sale’s % Debt.
Over: more debt than the sale.
Short: less debt than the sale. The shortfall may be taxable boot unless covered by added cash.

Is LTV the only thing to look at?

No. LTV is one factor of many. A combination that matches the LTV is not a recommendation, and a DST that matches may not be suitable for you. Review each DST’s offering documents, including its risks, fees and debt terms.

What do the colors mean?