AltStreet
SEC filing record
Primary Source · SEC.gov

TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P.

Fund Vehicle2026 vintage506(b), 3(c)
Latest signalSold increasedForm D/A · 2026-07-0115 events: 10 sold increased, 5 investors increasedLast filing 2026-07-01

Raised

$397M

Investors

680

Min Invest

$10,000

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AltStreet Analysis

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Generated from EDGAR primary sources

TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. is a Delaware limited partnership that has raised $396.8 million from 680 investors under Rule 506(b) and Section 3(c), with a $10,000 minimum investment. This is an amended filing managed by The Key West Saxon Group, LLC, with executive officers including Anthony Frammartino, John Schaefer, and Tony Pietro.

This real estate pooled investment fund exhibits characteristics of a broadly accessible fund vehicle, with a relatively low $10,000 minimum investment and 680 investors representing an average commitment of approximately $584,000. The 506(b) exemption with this investor count and minimum suggests a diversified investor base spanning retail and smaller institutional participants, which is atypical for large real estate funds that typically maintain higher minimums to limit operational complexity.

Data Flags

investor_count680 investors with $396.8M raised yields an average check size of ~$584K, indicating unusually high investor count relative to total capital for a real estate fund
generalFirst sale date not disclosed on an amended filing that has already raised $396.8M; while common for institutional funds, this is a material data gap for public transparency
minimum_investment$10,000 minimum investment is unusually low for a $396.8M real estate fund, suggesting retail accessibility uncommon in this asset class at this scale

EDGAR Filing Data

Form D — Primary Source

View on SEC.gov
CIK Number0000841776
Entity NameTOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P.
ExemptionRule 506(b), Section 3(c), 3C.5
What the exemption meansRule 506(b) of Regulation D: securities may be sold to an unlimited number of accredited investors and up to 35 non-accredited investors who meet the rule's sophistication standard, without general solicitation or advertising. Section 3(c) of the Investment Company Act of 1940: the issuer is a pooled investment vehicle relying on an exclusion from registration as an investment company.
Entity TypeLimited Partnership
Jurisdiction of OrganizationDelaware
Issuer Address950 Main Avenue, Suite 1600, Cleveland, OH 44113
Phone(216) 781-9090
Former NamesDIVERSIFIED REAL ESTATE FUND LIMITED PARTNERSHIP (until January 13, 2015); DIVERSIFIED REAL ESTATE FUND L P (until March 26, 2008)
Industry / Fund TypePooled Investment Fund · Other Investment Fund
Investment Company ActExcluded under Section 3(c)
Securities TypePooled Investment Fund, Other
First Sale Date—
Filing DateJuly 1, 2026
Accession Number0000841776-26-000003
Total Offering AmountIndefinite
Total Amount Sold$396,776,967
Total Investors680
Non-Accredited InvestorsNone
Minimum Investment$10,000
Offering DurationIntended to last more than one year
Net Asset Value RangeDecline to Disclose
State (Issuer Address)OH
Amendment Count49 amendments filed

Filings on Record

Every filing AltStreet's ledger holds for this CIK, newest first (15 of 45). Each opens the SEC archive folder.

D/AJuly 1, 2026D/AJanuary 5, 2026D/AOctober 14, 2025D/AJuly 15, 2025D/AApril 4, 2025D/AJanuary 10, 2025D/AOctober 10, 2024D/AJuly 15, 2024D/AApril 12, 2024D/AJanuary 10, 2024D/AOctober 4, 2023D/AJuly 11, 2023D/AApril 4, 2023D/AJanuary 12, 2023D/AOctober 11, 2022

Capital Raise Timeline

49 Form D filings from Jul 14, 2010 to Jul 1, 2026, the latest a D/A.

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In the Terminal

Filing events

15

latest Jul 1, 2026

Critical / warning

0 / 0

0 watch · 15 info

Statements extracted

0

none on file

NAV prints

0

none on file

Offering chains

1

raising

Latest event Sold increase · Jul 1, 2026

SEC.gov
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  • 1 offering timeline: velocity, share raised, first-sale lag, stalled flags

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Regulatory Activity

Filing events on this entity detected by AltStreet's EDGAR monitoring.

Jul 2026Form D amendment
SEC.gov
Jan 2026Form D amendment
SEC.gov
Oct 2025Form D amendment
SEC.gov
Oct 2025Form D amendment
SEC.gov

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Related Persons (Form D)

Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.

[entity] The Key West Saxon Group, LLC

Executive Officer · Cleveland, OH

Anthony Frammartino

Executive Officer · Cleveland, OH

John Schaefer

Executive Officer · Cleveland, OH

Tony Pietro

Executive Officer · Cleveland, OH

Questions About TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P.

Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.

What is TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P.?

TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. is a Delaware limited partnership that filed a Form D with the SEC on July 1, 2026 as a other investment fund. The filing claims Rule 506(b), Section 3(c), 3C.5 for an offering of pooled investment fund interests. AltStreet links the issuer to TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P..

Is TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. legit?

AltStreet does not rate legitimacy; it reports the public record. TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. filed a Form D with the SEC on July 1, 2026 claiming Rule 506(b), Section 3(c), 3C.5. A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $396,776,967 sold to 680 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. The issuer is linked to TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P., which AltStreet has reviewed. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.

Is TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. registered with or approved by the SEC?

No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. claimed Rule 506(b), Section 3(c), 3C.5 and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.

How much has TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. raised?

TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. reported $396,776,967 sold from 680 investors in an offering of indefinite size as of the Form D filed July 1, 2026.

Who can invest in TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P.?

The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. The filing reports no non-accredited investors. The minimum investment accepted from an outside investor is $10,000.

What is the minimum investment in TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P.?

The Form D lists $10,000 as the minimum investment accepted from any outside investor as of July 1, 2026. Issuers can waive their own minimums, and the figure does not include fees.

Who is selling TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. and how are they paid?

The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly.

Who is behind TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P.?

The Form D lists 4 related persons: [entity] The Key West Saxon Group, LLC, executive officer (General Partner of the Issuer); Anthony D. Frammartino, executive officer (President of the General Partner); John Schaefer, executive officer (Vice President of the General Partner); Tony Pietro, executive officer (Vice President of the General Partner). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.

Where is TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. located?

The issuer's address on its SEC filings is 950 Main Avenue, Suite 1600, Cleveland, OH 44113. Its phone number of record is 216-781-9090. It is organized under the laws of Delaware.

How long is the TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P. offering open?

The issuer indicated that the offering is intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open; 49 amendments are on record for this CIK.

How large is TOWNSEND DIVERSIFIED REAL ESTATE FUND, L.P.?

The issuer declined to disclose its net asset value range on the Form D, which the form permits.

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Data Methodology

Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.