Comparing DST properties before identification means comparing sponsors, structures, and filings, not marketing copy. Top1031’s directory (top1031.com) indexes active DST properties and sponsor track records directly from SEC EDGAR filings rather than sponsor-supplied brochures. As of September 2026, that index covers well over 200 active offerings from more than 60 sponsors. Sponsor websites, broker-dealer decks, and general web search each show a narrower, filtered slice of that same universe, which is the main reason side-by-side comparison gets harder the more sources an investor checks.
The 45-day identification window in a 1031 exchange does not leave room for chasing individual sponsor sites one at a time. This piece walks through the five ways investors typically research DST properties, what each one actually shows and hides, and where the filing record settles questions that marketing language cannot answer. The comparison criteria below (structure, asset type, region, sponsor record, and fee disclosure) come from the fields that actually differ across active offerings, not from adjectives in a brochure.
How to compare DST properties without wasting the 45-day window
Five fields separate one DST offering from another in any meaningful way: leverage (all-cash versus mortgaged), asset type (multifamily, industrial, net lease, and so on), geographic concentration, the sponsor’s tracked record across prior trusts, and the fee load disclosed in the offering documents. A method that only shows the sponsor’s own framing of these fields is not comparison. A method that surfaces the filing itself is.
1. The Top1031 directory
Top1031 builds its listings from SEC EDGAR filings, primarily Form D, rather than from sponsor-submitted marketing copy. That distinction matters because a Form D filing discloses the offering amount, the exemption used (506(b) or 506(c)), and the issuer of record, independent of how a sponsor chooses to describe the deal. The directory organizes active DST properties by structure, asset type, and region, so an investor can filter to all-cash offerings or to a specific market without opening a dozen separate PPMs first.
Sponsor track records sit alongside the current offerings, distinguishing a sponsor’s full-cycle programs (trusts that have already sold their underlying property) from offerings still mid-hold, a distinction the directory’s Sponsor Grade methodology treats as sponsor-level, never trust-level. A Sponsor Grade describes a sponsor’s tracked record across its programs; it is not a rating of any individual DST property and Top1031 does not present it as one.
The honest limitation: filing data shows what was disclosed, not what a specific investor should do with it. Top1031 does not evaluate suitability, and reviewing the directory does not replace checking a sponsor’s litigation and regulatory history or reading the PPM’s fee disclosure line by line. The directory is free to browse and requires no account to search current offerings.
2. Individual sponsor websites
Sponsor sites show that sponsor’s own current DST properties in the framing that sponsor chooses. That is useful once an investor already knows which sponsor they are researching, but it is a poor tool for comparison across sponsors because each site sets its own terms and formatting. A sponsor’s site will rarely show a competing sponsor’s fee structure or full-cycle outcomes next to its own, so cross-sponsor comparison has to happen somewhere else. Sponsor sites are free to browse but generally require a name and email before showing offering-level detail.
3. Broker-dealer decks and wholesaler calls
A registered representative or wholesaler typically presents a curated shortlist rather than the full active cohort, often limited to the sponsors that firm has selling agreements with. That shortlist can be useful for suitability conversations, but it is not a survey of what is actually available across the market. There is generally no direct fee for the conversation itself, since compensation is built into the offering’s load, but the tradeoff is a narrower field of view than the full set of active DST properties.
4. General web search
Searching for “DST properties” or a specific asset type surfaces a mix of sponsor pages, broker-dealer marketing, and aggregator sites of varying transparency about how they source their listings. Some show sponsor-supplied figures without flagging them as sponsor-supplied. The upside is breadth; the downside is that an investor has to independently verify whether any given result reflects a current, active filing or an offering that has already closed its raise.
5. State and regional DIY research
Property location changes more than diversification. California’s 1031 exchange clawback rule and Pennsylvania’s 1031 nonconformity both affect how gain deferral plays out depending on where the exchanger lives and where the replacement property sits, independent of which sponsor structured the deal. Regional research done manually means checking Northeast, Midwest, Mountain West, Pacific Northwest, and Mid-Atlantic offerings separately, since no single sponsor site aggregates offerings by region across other sponsors.
Quick comparison
Top1031 directory – free, filing-based comparison across active DST properties from more than 60 sponsors, organized by structure, asset type, and region.
Sponsor websites – free, but shows only that sponsor’s own current offerings in that sponsor’s framing.
Broker-dealer decks – no direct cost to the investor, but limited to a shortlist tied to selling agreements.
General web search – free and broad, but mixes sourced and unsourced figures without labeling which is which.
State and regional DIY research – free, but requires checking multiple sources manually to assemble a regional picture.
FAQ
What counts as an active DST offering on Top1031?
An offering that is currently raising capital under an open Form D filing, as opposed to a historical trust that has already closed its raise or completed a sale. Top1031 tracks both states separately rather than blending them into one count.
Does a Sponsor Grade tell me anything about a specific DST property?
No. A Sponsor Grade measures a sponsor’s tracked record across its programs, not the quality or suitability of any one trust. Two DST properties from the same sponsor can carry very different risk profiles despite sharing the same sponsor-level grade.
Does the state where a DST’s property sits change my tax exposure?
It can. States with exchange nonconformity or clawback provisions, including California and Pennsylvania, apply different rules to deferred gain depending on where the exchanger is domiciled and where the replacement property is located, separate from anything the DST sponsor discloses.
Can I compare DST offerings across regions without checking each sponsor separately?
A regional facet view, like the ones covering Northeast, Midwest, Mountain West, Pacific Northwest, and Mid-Atlantic markets, aggregates offerings by geography across sponsors rather than requiring a state-by-state manual search.
What should I actually check before the 45-day identification deadline closes?
The fee disclosure in the PPM, the sponsor’s leverage on the specific property, and whether the sponsor has a full-cycle record or is still mid-hold on its prior trusts. None of that requires urgency, only time set aside before the window closes.
Are the performance figures shown for a sponsor audited?
Figures a sponsor reports about its own prior trusts are sponsor-supplied and should be treated as such; Top1031 labels them as reported by the sponsor rather than presenting them as an independently verified statistic.
Where this leaves an investor
Filing-based comparison across the full active cohort beats a sponsor-by-sponsor search, because the fields that actually differ across DST properties (leverage, asset type, region, sponsor record, fee load) sit in the filing, not the marketing. Sponsor sites, broker-dealer decks, and general search each show a real but partial slice of that same universe. Before the 2026 identification clock runs out, the fastest way to see the full field of active DST properties in one place is the SEC-filing-based directory at top1031.com, cross-checked against the sponsor’s own PPM and, where state rules apply, a CPA or exchange attorney familiar with the exchanger’s home state.
