BT Athens Student Housing DST is a $72.1 million Delaware Statutory Trust offering The Summit at Coates Run, an 856-bed, 239-unit Class A student housing community about one mile from Ohio University in Athens, Ohio. Built in 2009 and renovated in 2019 and 92.98% occupied at the offering date, it is sponsored by Baker Tilly, the 10th-largest accounting and advisory firm in the U.S. The DST carries fixed-rate, interest-only financing through Old National Bank (5.72%, 47.68% LTV) and projects a 4.70% first-year distribution rising to 5.21% by year 10 (4.96% average), with a $100,000 minimum and a full 721 UPREIT exit option.
1 million Delaware Statutory Trust offering The Summit at Coates Run, an 856-bed, 239-unit Class A student housing community about one mile from Ohio University in Athens, Ohio. S.
96% average), with a $100,000 minimum and a full 721 UPREIT exit option.
| Lender | Old National Bank |
| Interest Rate | 5.72% (Fixed) |
| Loan Term | 10 years |
| Interest-Only Period | 10 years |
| Total Debt | $34.4M ($34,375,000) |
| In-Place LTV | 47.68% |
| Year 1 DSCR | 2.04x |
856-bed, 239-unit Class A student housing community about one mile from Ohio University (30,682 students, up 3.6% year over year).
4.70% Year-1 distribution rising to 5.21% by Year 10 (4.96% average).
Fixed-rate, interest-only loan (5.72%, Old National Bank); 47.68% LTV; 2.04x Year-1 DSCR.
Built 2009, renovated 2019; 92.98% occupied; fully furnished, by-the-bed leasing.
Sponsored by Baker Tilly; $100,000 minimum; full 721 UPREIT exit option.
Stabilized student-housing asset serving a major state university with historically high occupancy and limited new supply; fixed-rate interest-only debt removes near-term rate risk; experienced advisory-firm sponsor; 721 UPREIT optionality.
Student housing must re-lease every academic year with summer lease-up risk; competitive nearby supply; flat distribution growth in years 1-5; roughly 19.6% load on equity; long-term U.S. college enrollment is projected to decline.
The analysis below is Baker 1031's educational opinion — not investment, tax, or legal advice, a recommendation, or a guarantee, and it does not replace the offering's Private Placement Memorandum (PPM), which governs in all respects. Read the PPM and consult your own CPA and attorney before investing.
Best for income-oriented 1031 investors comfortable with student-housing seasonality. The 721 option allows a future tax-deferred roll-up, but the high equity load and flat early yield reward a long hold.
The analysis below is Baker 1031's educational opinion — not investment, tax, or legal advice, a recommendation, or a guarantee, and it does not replace the offering's Private Placement Memorandum (PPM), which governs in all respects. Read the PPM and consult your own CPA and attorney before investing.
Baker Tilly
Baker Tilly is a top-tier accounting and advisory firm, not a real estate sponsor, and appears in the 1031/DST ecosystem as a tax, cost-segregation and transaction advisor rather than as an issuer of offerings. Investors should treat its presence on a sponsor list as a service-provider relationship; it originates no property programs and carries no sponsor AUM.
Learn More About Baker Tilly →Access requires verification of accredited-investor status. Executable copies are released through the secure data room on request; the schedule below reflects the standard document set for this offering.
Securities offered through Aurora Securities, Inc. (CRD #46147 / SEC #8-51322), member FINRA / SIPC; Baker 1031 Investments, LLC is independent of Aurora Securities, Inc. and is not a registered broker-dealer or investment adviser. This is not an offer to sell or a solicitation of an offer to buy any security; any offer is made solely by the confidential private placement memorandum (PPM), which qualifies all information herein in its entirety. Delaware Statutory Trust interests are speculative, illiquid securities offered under Rule 506(c) of Regulation D and sold only to investors whose accredited-investor status has been verified; offering documents and subscription materials are provided only after that verification. They involve substantial risk, including possible loss of the entire investment.
Distributions, yields, the cap-rate equivalent, DSCR, occupancy, and benchmark figures are sponsor estimates or projections, are not guaranteed, and may differ materially from actual results. Any tax-adjusted yield assumes a 40% effective rate for non-1031 cash investors and is not tax advice. No tax, legal, or investment advice is provided — consult your own CPA and attorney. Past performance does not guarantee future results.