For wealth advisors helping clients complete a 1031 exchange, identifying potential Delaware Statutory Trust (DST) investments often begins with a straightforward question:
What’s available right now that might meet my client’s needs?
But answering that question involves more than reviewing a list of open DST offerings.
Advisors must consider available equity, projected distribution rates, loan-to-value ratios (LTVs), property types, sponsor choices, and other characteristics. They must also consider the timing and specific requirements of the client’s exchange.
The challenge isn’t necessarily a lack of information. It’s finding, organizing, and comparing the information needed to make informed decisions.
1. Start With What’s Available
For an advisor working on a pending 1031 exchange, availability is often the first consideration.
A DST offering might have attractive characteristics, but if little or no equity remains available, it may not represent a practical option for the client’s transaction.
Questions worth asking include:
- Which DST offerings are currently open?
- How many sponsors have offerings available?
- What property types are represented?
- How much equity remains available across those offerings?
- Which offerings have sufficient remaining equity for the client’s contemplated investment?
Open DST Market Snapshot
Aggregate availability | Data as of November 9, 2026
|
Open Offerings 75 Currently marked open |
Sponsors 44 With open offerings |
|
Property Types 8 Asset class categories |
Equity Remaining $1.90B Aggregate reported capacity |
Source: Blue Vault’s Alts Intelligence Portal. Data as of November 9, 2026. Aggregate figures cover 75 offerings marked open. Equity remaining is rounded. Availability may change.
Blue Vault Intelligence provides a consolidated view of the open DST market, helping advisors begin their research without having to assemble information from individual sponsor materials.
Why it matters: Availability can change. Advisors need current information when evaluating potential options, particularly as exchange deadlines approach.
2. Compare Projected Distributions — But Look Beyond the Rate
Projected distribution rates are often among the first metrics advisors review.
They provide an indication of the income an offering expects to distribute to investors, generally expressed annually as a percentage of invested equity.
However, projected distributions should not be confused with guaranteed income or investment returns.
Two DST offerings with similar projected distribution rates may differ considerably in property type, financing structure, anticipated holding period, tenant characteristics, and other risks.
For advisors, comparing projected distributions is a useful starting point, not the conclusion of the analysis.
Projected Distribution Comparisons
75 open DST offerings | November 9, 2026
|
Projected Distribution Range 0.0%–7.1% Median 5.0% |
Zero Distribution 3 offerings Reported 0% projected rate |
Distribution of Offerings by Reported Rate
0% — 3 offerings
Above 0% to below 4% — 1 offering
4% to below 5% — 28 offerings
5% to below 6% — 33 offerings
6% to below 7% — 9 offerings
7% or higher — 1 offering
Counts of offerings. Bars start at zero and use the same scale; full track = 40 offerings.
Source: Blue Vault’s Alts Intelligence Portal. Data as of November 9, 2026. Counts represent 75 open offerings and are ordered by projected distribution band, not investment quality. A 0% distribution may reflect a zero-cash-flow structure. Projected distributions are not guaranteed and are not total investor returns.
Why it matters: A higher projected distribution rate does not necessarily indicate a better investment opportunity.
3. Understand Leverage and LTV
Loan-to-value ratio (LTV) is another important consideration, particularly for clients completing exchanges involving debt.
LTV measures the relationship between property-level debt and property value.
An offering with a 50% LTV, for example, generally has debt equal to approximately half of the applicable property value.
For advisors, LTV comparisons can help identify offerings with different financing characteristics.
However, LTV alone does not determine whether an investment will meet the client’s debt replacement requirements in a 1031 exchange.
The amount of debt attributed to an investor depends on the offering’s structure and the investor’s ownership allocation. An investor may also satisfy exchange requirements through additional cash, subject to applicable tax rules.
Loan-to-Value Comparisons
75 open DST offerings | November 9, 2026
|
Loan-to-Value Range 0.0%–82.8% Median 45.2% |
Zero LTV 26 offerings Reported without leverage |
Distribution of Offerings by LTV
0% — 26 offerings
Above 0% to below 25% — 1 offering
25% to below 50% — 31 offerings
50% to below 75% — 14 offerings
75% or higher — 3 offerings
Counts of offerings. Bars start at zero and use the same scale; full track = 40 offerings.
Source: Blue Vault’s Alts Intelligence Portal. Data as of November 9, 2026. Counts represent 75 open offerings and are ordered by LTV band, not investment quality. A 0% LTV indicates no reported property-level debt. LTV alone does not establish the suitability of an offering or satisfaction of an investor’s exchange requirements.
Why it matters: Understanding financing characteristics early can help advisors identify options for further review with their clients’ tax professionals.
4. Look at the Range of Property Types and Sponsors
DST offerings can provide exposure to different commercial real estate property types, including multifamily, industrial, retail, healthcare, and other sectors.
The selection of available property types changes as offerings enter and leave the market.
Sponsor selection is equally important. Advisors may want to compare current availability across sponsors while also examining each sponsor’s experience and historical performance.
Blue Vault’s DST Dashboard provides market-level context, while its detailed tables allow advisors to examine individual offerings and sponsors.
Equity Remaining by Property Type
Aggregate reported capacity | 75 open offerings | November 9, 2026
| Property Type | Equity Remaining | Open Offerings |
|---|---|---|
|
Multifamily
|
$727.5M | 29 |
|
Industrial
|
$616.6M | 15 |
|
Student Housing
|
$190.5M | 5 |
|
Retail
|
$164.9M | 10 |
|
Office
|
$91.3M | 7 |
|
Hospitality
|
$43.5M | 3 |
|
Specialty
|
$40.7M | 4 |
|
Senior Care
|
$23.0M | 2 |
Bars start at zero and use the same scale; full track = $800 million.
Source: Blue Vault’s Alts Intelligence Portal. Data as of November 9, 2026. Equity remaining is aggregated across offerings within each reported property type; amounts are rounded for display. Property types are ordered by reported equity remaining, not investment quality. Availability may change.
Why it matters: Understanding the range of available options makes it easier to align investment research with a client’s objectives and risk considerations.
5. Consider Upfront Costs and Other Transaction Characteristics
Projected distributions and LTVs are important, but they do not tell the entire story.
Advisors should also examine upfront load, offering costs, financing terms, exit provisions, and other transaction characteristics.
Upfront load figures require careful interpretation. Reported upfront costs can incorporate different elements of the transaction structure and should not automatically be interpreted as fees paid directly by the investor.
Understanding the composition of those costs is an important part of evaluating an offering.
Why it matters: Offerings with similar projected distribution rates may have different transaction economics and risk profiles.
6. Find Available Offerings. Compare the Details.
Blue Vault Intelligence is designed to help advisors move from broad market awareness to more detailed research.
The DST Dashboard provides a visual overview of the market, including sponsor activity and offering characteristics.
From there, advisors can transition into detailed data tables covering:
- Open DSTs: Current offerings, available equity, projected distributions, LTVs, property types, and other offering characteristics.
- Closed DSTs: Historical programs that are no longer raising equity, including reported distribution performance.
- Full-Cycle DSTs: Programs that have completed their investment lifecycle, providing additional historical context about realized outcomes.
Together, these datasets allow advisors to consider not only what is available today but also what sponsors have reported about previous programs.
7. Better Research Begins With Better Access to Information
When a client needs a potential DST solution, advisors shouldn’t have to spend unnecessary time gathering and organizing basic information.
The objective is to identify potential options, compare relevant characteristics, and determine where deeper due diligence is warranted.
Blue Vault Intelligence brings market information, offering comparisons, and historical performance intelligence together in one research platform.
Blue Vault Intelligence is FREE for wealth advisors.
Explore the DST Dashboard and discover a faster way to research DST opportunities.
Sources & Methodology
Source: Blue Vault’s Alts Intelligence Portal. Aggregate market data reflect November 9, 2026; the article publication date is November 12, 2026.
The market snapshot covers 75 offerings marked open, 44 sponsors with open offerings, and eight reported property-type categories. Distribution and LTV bands count offerings. Ranges, medians, and counts reflect the reported aggregate figures.
Equity remaining is aggregated within each reported property type. Dollar amounts and percentages are rounded for display. These figures describe reported capacity at a point in time and do not guarantee that capacity remains available.
This public analysis presents aggregate open-offering information. Detailed offering-level information is available through Blue Vault Intelligence for eligible industry professionals.
Important Information: Blue Vault provides independent research and market intelligence, not individualized investment, tax, or legal advice. DST investments involve risks, including illiquidity and the possible loss of principal. Projected distributions are not guaranteed. Information about current offerings is available through Blue Vault Intelligence for industry professionals. Investors should review applicable offering documents and consult appropriate professional advisors before making investment decisions.
