This opportunity is available for investment
All information is subject to the Sponsor's official Investment Documentation. For more information, including risk factors, view the .
Key benefits and features of this investment opportunity
All information is subject to the Sponsor's official Investment Documentation. For more information, including risk factors, view the .
Institutional Quality: Domain at Town Centre has been institutionally owned for nearly 10 years and is expected to require minimal capital expenditures
Preleasing Ahead of Pace: The Property is currently 93% occupied for the 2025/2026 academic year and is already 73% pre-leased for the 2026/2027 academic year, with over four months of leasing still remaining
Mandate for Enrollment Growth: The West Virginia Governor tasked WVU with drastically growing enrollment. WVU recently hired a new President and a new Enrollment Director who dramatically increased enrollment in their prior positions
Lack of Supply: Many developers do not target the Morgantown market due to relatively low market rents and lack of buildable sites. There has been no new supply built since 2016 and there is no new supply in the pipeline. WVU houses about 5,249 students on campus, leaving 18,394 in need of off-campus housing; with only 6,700 off-campus beds available, WVU’s total enrollment of 23,643 creates a shortfall of roughly 11,694 students, equating to a capture rate of ~57%
In Morgantown, there have only been 534 beds developed over the past decade and there is currently no new supply under construction. Large-scale developers have not targeted Morgantown, primarily due to relatively low market rents
The Property is one of the newer and highest quality assets in the local market
The most comparable properties in the local market are 100% occupied and charge rents for 4x4 floorplans (53% of total beds at Domain) 16% higher than Fortress’s underwriting
The Property has maintained strong occupancy over the past four years with a 3.4% rent compounded annual growth rate and is tracking to 5.6% effective rent growth for Fall 2026
The offering documents below have been prepared and are being delivered by the Sponsor of this investment opportunity.
Get help from our team of investment specialists or use our portfolio builder tool to model this investment in your 1031 exchange strategy.
Property Type
Student Housing
Location
Morgantown, WV
Year Built
2012
Occupancy Rate
93%
Please refer to the FREX DB Series I DST - Private Placement Memorandum for more details regarding distributions and risk factors of the investment.
Fortress Real Estate Exchange LLC
Fortress Real Estate Exchange LLC, a Delaware limited liability company, is the sponsor of the Trust and this Offering, and is an affiliate of Fortress Investment Group LLC ("Fortress"). Fortress is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $54 billion of AUM on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate strategies. FIG LLC, a wholly-owned subsidiary of Fortress, has been a registered investment advisor since 2004. Fortress was publicly traded between 2007 and 2017, and is currently privately owned, with a consortium led by Mubadala Capital as the majority equity owner. Today, Fortress continues to operate as an independent investment manager under the Fortress brand, with full autonomy over investment processes, personnel, and day-to-day decision making. Fortress’s broad investment strategies include corporate credit, asset-based finance, real estate, private equity, insurance solutions, and multi-manager offerings.
Fortress is headquartered in New York and Dallas, with affiliates that have offices in Abu Dhabi, Atlanta, Greenwich, Hong Kong, London, Los Angeles, Madrid, Menlo Park, Rome, Sydney and Tokyo.
Fortress has over 20 years of experience in real estate investing across product types and geographies with over $29 billion invested across the capital stack. Within the targeted initial asset classes for the DST program – senior housing, student housing and multifamily – Fortress has invested $919 million of equity across $3.2 billion of transactions.
For more information, view the .
All details presented on this page are subordinate to and qualified entirely by the comprehensive information contained within the Sponsor's official Investment Documentation. The content displayed here remains incomplete and may be modified by the Sponsor without notice prior to closing. The Sponsor's Investment Documentation and related materials include critical details regarding investment goals, business strategies, potential risks, fees, costs, and additional material information that should be thoroughly evaluated before making any investment decision. The information presented on this page is insufficient for making informed investment choices.
This investment is speculative, highly illiquid, and involves substantial risk. There can be no assurances that all or any of Sponsor's assumptions, expectations, estimates, goals, hypothetical illustrations, or other aspects of Sponsor's business plans ("Assumptions") will be true or that actual performance will bear any relation to Sponsor's Assumptions, and no guarantee or representation is made that Sponsor's Assumptions will be achieved. If Sponsor does not achieve its Assumptions, your investment could be materially and adversely affected. A loss of part or all of the principal value of your investment may occur. You should not invest unless you can readily bear the consequences of such loss. Sponsor's Assumptions should not be relied upon as the primary basis for your decision to invest.
Sponsor is solely responsible for statements made concerning forward-looking statements and Assumptions, which apply only as of the date made, are preliminary and subject to change, and are expressly qualified in their entirety by the disclosures and cautionary statements included in Sponsor's Investment Documents, which you should carefully review. A Sponsor is obligated to update or revise such forward-looking statements or Assumptions to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Sponsor's forward-looking statements and Assumptions are hypothetical, not based on actual investment achievements or events, and are presented solely for purposes of providing insight into the Sponsor's investment objectives, detailing Sponsor's anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of actual results; therefore, they are not a predictor, projection, or guarantee of future results. You should not rely on Sponsor's forward-looking statements as a basis to invest.
Importantly, we do not adopt, endorse, or provide any assurance of returns or as to the accuracy or reasonableness of Sponsor's Assumptions or forward-looking statements.
Any reference to historical performance does not indicate future results and should not be considered the primary factor in investment decisions.
Sponsor's securities offering will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), in reliance upon the exemptions from registration pursuant to Rule 506(c) of Regulation D as promulgated under the Securities Act ("Private Placement"). In addition, the offering will not be registered under any state securities laws in reliance on exemptions from state registration. Such securities (your ownership interests) are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under applicable state and federal securities laws pursuant to registration or an available exemption. All Private Placements on the Platform are intended solely for "Accredited Investors," as that term is defined in Rule 501(a) under the Securities Act.
Nothing presented on this page constitutes investment advice (whether regarding specific securities or overall investment strategies), recommendations, offers to sell, or solicitations to purchase any security. Professional securities advice is strongly recommended to comprehend and evaluate the risks inherent in real estate or private placement investments.
Internal Revenue Code Section 1031 ("Section 1031") involves intricate tax principles, and tax implications may differ based on individual investor circumstances. Anchor1031, LLC and Quincy Wells Capital, LLC provide no representations or warranties regarding the tax consequences of your investment or whether the IRS will accept such tax treatment. Consultation with and reliance upon your personal tax advisor regarding tax implications specific to your situation is essential.
All information is subject to the Sponsor's official Investment Documentation. For more information, including risk factors, view the .
Key benefits and features of this investment opportunity
All information is subject to the Sponsor's official Investment Documentation. For more information, including risk factors, view the .
Institutional Quality: Domain at Town Centre has been institutionally owned for nearly 10 years and is expected to require minimal capital expenditures
Preleasing Ahead of Pace: The Property is currently 93% occupied for the 2025/2026 academic year and is already 73% pre-leased for the 2026/2027 academic year, with over four months of leasing still remaining
Mandate for Enrollment Growth: The West Virginia Governor tasked WVU with drastically growing enrollment. WVU recently hired a new President and a new Enrollment Director who dramatically increased enrollment in their prior positions
Lack of Supply: Many developers do not target the Morgantown market due to relatively low market rents and lack of buildable sites. There has been no new supply built since 2016 and there is no new supply in the pipeline. WVU houses about 5,249 students on campus, leaving 18,394 in need of off-campus housing; with only 6,700 off-campus beds available, WVU’s total enrollment of 23,643 creates a shortfall of roughly 11,694 students, equating to a capture rate of ~57%
In Morgantown, there have only been 534 beds developed over the past decade and there is currently no new supply under construction. Large-scale developers have not targeted Morgantown, primarily due to relatively low market rents
The Property is one of the newer and highest quality assets in the local market
The most comparable properties in the local market are 100% occupied and charge rents for 4x4 floorplans (53% of total beds at Domain) 16% higher than Fortress’s underwriting
The Property has maintained strong occupancy over the past four years with a 3.4% rent compounded annual growth rate and is tracking to 5.6% effective rent growth for Fall 2026
The offering documents below have been prepared and are being delivered by the Sponsor of this investment opportunity.
Get help from our team of investment specialists or use our portfolio builder tool to model this investment in your 1031 exchange strategy.
Property Type
Student Housing
Location
Morgantown, WV
Year Built
2012
Occupancy Rate
93%
Please refer to the FREX DB Series I DST - Private Placement Memorandum for more details regarding distributions and risk factors of the investment.
Fortress Real Estate Exchange LLC
Fortress Real Estate Exchange LLC, a Delaware limited liability company, is the sponsor of the Trust and this Offering, and is an affiliate of Fortress Investment Group LLC ("Fortress"). Fortress is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $54 billion of AUM on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate strategies. FIG LLC, a wholly-owned subsidiary of Fortress, has been a registered investment advisor since 2004. Fortress was publicly traded between 2007 and 2017, and is currently privately owned, with a consortium led by Mubadala Capital as the majority equity owner. Today, Fortress continues to operate as an independent investment manager under the Fortress brand, with full autonomy over investment processes, personnel, and day-to-day decision making. Fortress’s broad investment strategies include corporate credit, asset-based finance, real estate, private equity, insurance solutions, and multi-manager offerings.
Fortress is headquartered in New York and Dallas, with affiliates that have offices in Abu Dhabi, Atlanta, Greenwich, Hong Kong, London, Los Angeles, Madrid, Menlo Park, Rome, Sydney and Tokyo.
Fortress has over 20 years of experience in real estate investing across product types and geographies with over $29 billion invested across the capital stack. Within the targeted initial asset classes for the DST program – senior housing, student housing and multifamily – Fortress has invested $919 million of equity across $3.2 billion of transactions.
For more information, view the .
All details presented on this page are subordinate to and qualified entirely by the comprehensive information contained within the Sponsor's official Investment Documentation. The content displayed here remains incomplete and may be modified by the Sponsor without notice prior to closing. The Sponsor's Investment Documentation and related materials include critical details regarding investment goals, business strategies, potential risks, fees, costs, and additional material information that should be thoroughly evaluated before making any investment decision. The information presented on this page is insufficient for making informed investment choices.
This investment is speculative, highly illiquid, and involves substantial risk. There can be no assurances that all or any of Sponsor's assumptions, expectations, estimates, goals, hypothetical illustrations, or other aspects of Sponsor's business plans ("Assumptions") will be true or that actual performance will bear any relation to Sponsor's Assumptions, and no guarantee or representation is made that Sponsor's Assumptions will be achieved. If Sponsor does not achieve its Assumptions, your investment could be materially and adversely affected. A loss of part or all of the principal value of your investment may occur. You should not invest unless you can readily bear the consequences of such loss. Sponsor's Assumptions should not be relied upon as the primary basis for your decision to invest.
Sponsor is solely responsible for statements made concerning forward-looking statements and Assumptions, which apply only as of the date made, are preliminary and subject to change, and are expressly qualified in their entirety by the disclosures and cautionary statements included in Sponsor's Investment Documents, which you should carefully review. A Sponsor is obligated to update or revise such forward-looking statements or Assumptions to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Sponsor's forward-looking statements and Assumptions are hypothetical, not based on actual investment achievements or events, and are presented solely for purposes of providing insight into the Sponsor's investment objectives, detailing Sponsor's anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of actual results; therefore, they are not a predictor, projection, or guarantee of future results. You should not rely on Sponsor's forward-looking statements as a basis to invest.
Importantly, we do not adopt, endorse, or provide any assurance of returns or as to the accuracy or reasonableness of Sponsor's Assumptions or forward-looking statements.
Any reference to historical performance does not indicate future results and should not be considered the primary factor in investment decisions.
Sponsor's securities offering will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), in reliance upon the exemptions from registration pursuant to Rule 506(c) of Regulation D as promulgated under the Securities Act ("Private Placement"). In addition, the offering will not be registered under any state securities laws in reliance on exemptions from state registration. Such securities (your ownership interests) are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under applicable state and federal securities laws pursuant to registration or an available exemption. All Private Placements on the Platform are intended solely for "Accredited Investors," as that term is defined in Rule 501(a) under the Securities Act.
Nothing presented on this page constitutes investment advice (whether regarding specific securities or overall investment strategies), recommendations, offers to sell, or solicitations to purchase any security. Professional securities advice is strongly recommended to comprehend and evaluate the risks inherent in real estate or private placement investments.
Internal Revenue Code Section 1031 ("Section 1031") involves intricate tax principles, and tax implications may differ based on individual investor circumstances. Anchor1031, LLC and Quincy Wells Capital, LLC provide no representations or warranties regarding the tax consequences of your investment or whether the IRS will accept such tax treatment. Consultation with and reliance upon your personal tax advisor regarding tax implications specific to your situation is essential.
