b'done; latest estimates are $60,000 in organization expenses. Additionally, you will have to find a lender willing to loan to a DST, which wont be your run-of-the-mill commercial lender. One major benefit of a DST, however, is that unlike TICs (which are limitedto35investors)thereisnorestrictiononthenumberof beneficiaries in a DST, making a DST a better choice for larger deals where the 35-investor limit would not be feasible. Below is a typical structure for a Delaware Statutory Trust: Can A Syndicate or Fund 1031 Exchange Its Own Property? A syndicate can exchange its property for another.183'