--- title: "Provident Mortgage Trust's 2017 Offering Reports Record $29.2 Million Annual Sales Increase" url: https://altstreet.investments/news/provident-mortgage-trust-form-d-amendment-2026-10-15 kind: news-article updated: 2026-10-20 description: "Provident Mortgage Trust's Oct. 15, 2026 Form D/A reports a $29.2M rise in sales of its 2017 offering, the largest annual increase in its notices." publisher: AltStreet (https://altstreet.investments) license: Public factual pages may be read, quoted and cited with attribution and a link. Bulk redistribution is not permitted. --- # Provident Mortgage Trust's 2017 Offering Reports Record $29.2 Million Annual Sales Increase The private mortgage REIT's annual Form D/A for the offering it opened in September 2017 reports $87.5 million sold and 192 investors, up from $58.3 million and 155 a year earlier: the largest annual increase in that offering's notices. By Michael E., Head of Research, AltStreet Research (https://altstreet.investments/authors/michael-e). Published October 20, 2026. Entity: Provident Mortgage Trust, Inc. (CIK 1217315, https://altstreet.investments/edgar/1217315). Provident Mortgage Trust, Inc., a Maryland mortgage REIT with its principal place of business in California, reported $87,497,770 sold and 192 investors in a [Form D/A filed October 15, 2026](https://www.sec.gov/Archives/edgar/data/1217315/000121731526000003/) (accession 0001217315-26-000003). The amendment updates a $250,000,000 Rule 506(b) offering that made its first sale on September 30, 2017. The prior amendment in the same offering, which the new notice names as its predecessor (accession 0001217315-25-000004, filed October 15, 2025), reported $58,282,770 sold and 155 investors. Between the two notices the reported amount sold increased by $29,215,000 and the reported investor count rose by 37. ## What the filings show This offering has filed a notice every year since it opened, ten in all. Its reported amount sold rose by between $2.0 million and $11.5 million a year from 2017 to 2025. The October 2026 increase of $29,215,000 is the largest annual increase in the offering's record, 2.55 times the previous largest, $11,450,000, between the October 2020 and October 2021 notices. The amount sold equals 35.0% of the $250,000,000 offering, leaving $162,502,230 unsold as of the notice. The minimum investment is $100,000. The notice reports no sales commissions, no finders' fees, no proceeds paid to related persons and no non-accredited investors. It names R. Pica, Michael Heren and Nathaniel Chaney as related persons. - October 2017: $2,860,000 sold, 17 investors - October 2020: $25,632,770 sold, 73 investors - October 2021: $37,082,770 sold, 99 investors - October 2025: $58,282,770 sold, 155 investors - October 2026: $87,497,770 sold, 192 investors ## Background Provident Mortgage Trust files under CIK 1217315. Its notices report no non-accredited investors. Its EDGAR record carries three separate Regulation D offerings, each amended on its own annual schedule: one with a first sale in November 2010, one in June 2012, and the October-cycle offering reported here, opened in September 2017. The other two are larger. The 2010 offering's latest notice, filed July 17, 2026, reports $262,645,087 sold and 720 investors; the 2012 offering's latest, filed June 9, 2026, reports $289,931,750 sold and 422 investors. ## The pattern in AltStreet's data Across the three offerings' latest notices, cumulative reported sales total $640,074,607. That is a sum of amounts reported sold in three separate offerings over sixteen years, not the trust's current assets, net capital or assets under management, and the investor counts cannot be added, since the same investor may hold interests in more than one. Each offering's notices name only that offering's own prior filing, so a year-over-year comparison is valid only within one chain. A comparison of the October notice with the July notice would set a 2017 offering against a 2010 one. ## Why it matters For a nine-year-old private offering, the past year's increase in reported sales equals half of the cumulative total reported a year earlier (50.1%). The filings do not explain the acceleration, and they do not distinguish purchases by new investors from additional contributions or reinvested distributions by existing ones. ## What the filings do not show A Form D/A reports cumulative amounts sold and investor counts. It does not report the trust's net asset value, portfolio, distribution rate, redemptions, leverage or performance, does not identify investors, and does not allocate an increase among them. AltStreet has not reviewed the trust's offering memoranda, so the terms that distinguish the three offerings, such as share class, dividend rate or redemption rights, are not established here. ## Key facts - Form D/A accession 0001217315-26-000003, filed October 15, 2026, reports $87,497,770 sold and 192 investors in a $250,000,000 Rule 506(b) offering whose first sale was September 30, 2017. - The amendment it names as its prior, accession 0001217315-25-000004 (October 15, 2025), reported $58,282,770 sold and 155 investors. - The $29,215,000 increase in reported sales is the largest annual increase in the offering's ten notices since 2017, 2.55 times the previous largest ($11,450,000, from October 2020 to October 2021). - Provident Mortgage Trust has two other Regulation D offerings on EDGAR, with first sales in 2010 and 2012; their latest notices report $262,645,087 sold and 720 investors (July 17, 2026) and $289,931,750 sold and 422 investors (June 9, 2026). - The offering's minimum investment is $100,000; the notice reports no sales commissions, no finders' fees and no non-accredited investors. ## Sources - Provident Mortgage Trust Form D/A, October 15, 2026 (0001217315-26-000003): https://www.sec.gov/Archives/edgar/data/1217315/000121731526000003/ - Provident Mortgage Trust Form D/A, October 15, 2025 (0001217315-25-000004): https://www.sec.gov/Archives/edgar/data/1217315/000121731525000004/ - Provident Mortgage Trust Form D/A, July 17, 2026 (0001217315-26-000002): https://www.sec.gov/Archives/edgar/data/1217315/000121731526000002/ - Provident Mortgage Trust Form D/A, June 9, 2026 (0001217315-26-000001): https://www.sec.gov/Archives/edgar/data/1217315/000121731526000001/ ## SEC accession numbers - 0001217315-26-000003 - 0001217315-25-000004 --- Source page: https://altstreet.investments/news/provident-mortgage-trust-form-d-amendment-2026-10-15 Machine index: https://altstreet.investments/llms.txt AltStreet reads what platforms, funds and issuers file with the SEC and what they tell investors, and publishes the difference. Figures are as filed or as captured on the date stated; nothing here is investment advice.