Carter Exchange Fully Subscribes Nearly $50 Million Maryland DST Offering

Real estate company Carter Exchange Fund Management Company LLC has fully subscribed and closed its $48.8 million Delaware statutory trust offering. CX Courts of Avalon, DST, is a Regulation D private placement for accredited investors that qualifies for 1031 like-kind exchange and tax-advantaged investment strategies.

Carter Exchange, a Carter Funds LLC company, previously acquired Courts of Avalon, a multifamily property situated in Pikesville, Md., a Baltimore suburb. This prime location offers convenient access to downtown Baltimore via the nearby Owings Mills Metro Station, a significant commuting hub for a substantial portion of the Pikesville population. With 258 apartment homes and high-end amenities, Courts of Avalon is strategically positioned just minutes from the area’s most prominent retail and commercial amenities.

According to Carter Exchange, the Baltimore metropolitan area is anchored by stable industries, notably in education, healthcare, and government. Simultaneously, according to the Milken Institute, the region is experiencing strong growth in the technology and life sciences sectors. Among the prominent and large organizations with offices located within 10 minutes of the property are major employers including T. Rowe Price, Northrop Grumman, Leidos, and the Federal Bureau of Investigation’s Baltimore Office.

“We recognized Courts of Avalon as an exceptional opportunity to provide prospective DST investors with an institutional-quality 1031 exchange-eligible investment solution in a gateway market with a diverse economy, highly educated workforce, strong demographics, and burgeoning technology and healthcare employment sectors,” said Dallas Whitaker, chief executive officer of Carter Exchange.

Carter Funds is a real estate investment company with more than $3 billion in assets under management through its affiliated companies: Carter Multifamily, Carter Exchange, Aphorio Carter, and Allegiant-Carter Management. The company focuses on acquiring, developing, and managing real estate investments in high-growth industries and markets throughout the Southern and Mid-Atlantic United States.

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