Form D · Other Investment Fund

AREC Debt Fund, LP

Corte Madera, CA · CIK 0001964238

Offering snapshot reported Dec 18, 2024 · SEC filing

Reported sold: $113M
Investors reported: 24
Minimum accepted: $200K
First sale: Feb 1, 2023

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$93,650,000 → $112,650,000
Reported investors18 → 24

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Dec 18, 2024	Amendment	$112,650,000	$19,000,000vs Aug 9, 2024	24	SEC filing
Aug 9, 2024	Amendment	$93,650,000	$40,713,190vs Apr 12, 2024	18	SEC filing
Apr 12, 2024	Amendment	$52,936,810	$11,936,810vs Feb 1, 2023	10	SEC filing
Feb 1, 2023	Initial	$41,000,000	No comparison	3	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0
Finders' fees: $144K
Form D file number: 021-472363

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
James Walton	None	South 40 Capital

Source: Form D, filed Dec 18, 2024. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

AREC DEBT FUND, LP

Investment adviser: AVILA RE CAPITAL, LLC

Gross asset value: $168M
Beneficial owners: 33
ADV minimum commitment: $200K

Reported in Form ADV on May 13, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator JUNIPER SQUARE SAN FRANCISCO, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor COHNREZNICK LLP BETHESDA, Maryland, United States

Custodian AXOS BANK SAN DIEGO, California, United States Related to adviser: No

Custodian FIRST CITIZENS BANK PASADENA, California, United States Related to adviser: No

Marketer INTE SECURITIES LLC BOCA RAON, Florida, United States Related to adviser: No

Marketer SOUTH 40 CAPITAL LONDON, United Kingdom Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

COHNREZNICK LLP
PCAOB 596

INTE SECURITIES LLC
CRD 47107 · SEC 8-51667

SOUTH 40 CAPITAL
SEC 8-692444

Filing source

Form ADV 2105254 · May 13, 2026 · Schedule D 7.B.(1), fund 805-7036285821

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Related funds

Funds whose names form a numbered series with this one and that share its city or the name of a related person. Form D does not state how these funds are related.

Fund	Latest Form D	Reported sold	Investors
AREC Debt Fund, LP (this fund)	Dec 18, 2024	$112,650,000	24
AREC Debt Fund II, LP	Apr 10, 2024	$78,500,000	15

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Brian Altenburg	Executive
Arec Debt Fund Gp, Llc	Executive
N/A Arec Highmore Real Estate Income Fund Gp, Llc	Executive
Tony Avila	Executive
Anthony G. Avila	Executive
Joseph Julian	Executive
Oscar Vasquez	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

770 Tamalpais Drive Suite 401 B
Corte Madera, CA, 94925