Form D · Other Real Estate

AX DG San Antonio, DST

New York, NY · CIK 0001979731

Offering snapshot reported Jul 2, 2025 · SEC filing

Reported sold: $38.7M
Investors reported: 59
Minimum accepted: $25K
First sale: Jun 22, 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$35,043,270 → $38,670,000
Reported investors54 → 59

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Jul 2, 2025	Amendment	$38,670,000	$3,626,730vs May 22, 2025	59	SEC filing
May 22, 2025	Amendment	$35,043,270	$3,746,969vs Apr 17, 2025	54	SEC filing
Apr 17, 2025	Amendment	$31,296,301	$4,295,862vs Feb 28, 2025	51	SEC filing
Feb 28, 2025	Amendment	$27,000,439	$6,657,013vs Dec 27, 2024	43	SEC filing
Dec 27, 2024	Amendment	$20,343,426	$9,960,627vs Mar 27, 2024	39	SEC filing
Mar 27, 2024	Amendment	$10,382,799	$1,037,225vs Feb 7, 2024	21	SEC filing
Feb 7, 2024	Amendment	$9,345,574	$7,322,364vs Dec 19, 2023	16	SEC filing
Dec 19, 2023	Amendment	$2,023,210	$1,559,193vs Aug 30, 2023	12	SEC filing
Aug 30, 2023	Amendment	$464,017	$194,473vs Jul 6, 2023	4	SEC filing
Jul 6, 2023	Initial	$269,544	No comparison	2	SEC filing

Offering details

Securities: Equity, Pooled investment fund
Exemptions: 06b, 3C, 3C.5
Duration over one year: No
Business combination: No

Sales commissions: $2.32M (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-486082

Regarding Item 11, the Issuer may accept smaller investments in the Issuer's sole discretion.

Sales Commission include estimates of the maximum amount of Selling Commissions and Dealer Fees that may be paid.

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
Scott Spencer	2384319	Realized Financial, Inc. · CRD 22333
Stephanie Elliott	2476636	Realized Financial, Inc. · CRD 22333
Gabriel Medina	5061047	Realized Financial, Inc. · CRD 22333
Michael Karalewich	2910052	Nationwide Planning Assoicates Inc. · CRD 31029
Brian Ragen	1822796	Concorde Investment Services, LLC · CRD 151604
Ehud Gersten	7066119	Arkadios Capital · CRD 282710
Lisa Garza	2576056	Concorde Investment Services, LLC · CRD 151604
Jacob Driver	7738978	Concorde Investment Services, LLC · CRD 151604
Steve Fortunato	7956338	Realta Equities, Inc. · CRD 23769

Source: Form D, filed Jul 2, 2025. Minimum accepted may differ from a standard advertised minimum.

Fund connections

No confirmed ADV fund connection is available for this issuer.

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
N/A Apollo Re Exchange, Llc	Executive
N/A Ax I Depositor, Llc	Executive
N/A Ax Manager, Llc	Executive
Matthew Breitfelder	Executive
Brian Carney	Executive
Whitney Chatterjee	Executive
Heather Glatter	Executive
Benjamin Israel	Executive
Martin Kelly	Executive
Scott Kleinman	Executive
William Kuesel	Executive
Mandee Lee	Executive
Yael Levy	Executive
Jessica Lomm	Executive
Catherine Mullarney	Executive
Nari Na	Executive
Katherine Newman	Executive
Hannah Pardue	Executive
Stuart Rothstein	Executive
Loretta Shaw Lorello	Executive
Stefanie Sundel	Executive
John Suydam	Executive
Shari Verschell	Executive
Johannes Worsoe	Executive
James Zelter	Executive

Issuer details

Industry: Other Real Estate (See others in industry)

Address:

9 West 57 Th Street 42 Nd Floor
New York, NY, 10019