Rapid City SD – When Tzadik Mount Rushmore Hotel, LLC disclosed $28,000 in payments to an entity called “Dakota Flats” in the 90 days before its bankruptcy filing, the Sentinel reported what could be confirmed at the time: Dakota Flats, LLC is a real South Dakota company, and Adam Hendry — the hotel’s own manager — has sworn under oath that he owns 100% of it (Doc. 60, p. 12). What the company actually owns or does remained an open question.
A state filing now answers it.
The DBA Filing
South Dakota Secretary of State records show a Fictitious Business Name (DBA) registration, filed Jan. 4, 2024, for the trade name “Town House Motel,” Business ID UB265775. The filing lists the business’s physical and mailing address as 210 St. Joseph Street, Rapid City — and lists its owner as Dakota Flats LLC, at 4601 Sheridan Street, Suite 415, Hollywood, Fla.
That Hollywood, Fla. address is not new to this reporting.
It is the same address Dakota Flats LLC listed on its own South Dakota annual reports in 2022 and 2023, before the company’s registered address moved to a different Hollywood suite in 2024 — the same suite used by Tzadik Properties, LLC, the entity that manages the Mount Rushmore hotel under its own bankruptcy schedules (Doc. 50, p. 32).
The DBA registration is active, with a five-year term expiring Jan. 4, 2029.
A Matching Loan
Town House Motel is independently listed by hospitality booking platforms as a 40-room property.
That figure matches a line item in a Nectar press release from March 11, 2025 — issued outside of any court proceeding, for general business promotion — listing a $620,000 advance to a 40-unit hotel in Rapid City, S.D., for “additional acquisitions and liquidity.”
The same press release lists a separate $1,000,000 advance to a 177-unit Rapid City hotel, matching the Rushmore Hotel & Suites’ own disclosed room count (Doc. 50, p. 12) and consistent with Nectar’s disclosed $916,954.02 secured claim against that property in its bankruptcy schedules (Doc. 50, p. 19).
Both Rapid City entries in the release are categorized under the identical use-of-funds description — “additional acquisitions and liquidity” — a phrasing not used for any of the release’s other, out-of-state deals.
Neither Nectar, Inc nor Dakota Flats LLC is named in the other’s filing. The connection rests on matching, independently sourced figures: the room count, the city, and the timing.
What This Does — and Doesn’t — Establish
Together, the state DBA filing and Hendry’s sworn personal schedule establish a documented chain: Hendry has sworn he owns 100% of Dakota Flats LLC;
The State of South Dakota’s own records show Dakota Flats LLC as the registered owner of the Town House Motel trade name.
A hotel matching that property’s exact room count received financing from the same lender that holds a secured claim against Hendry’s Mount Rushmore hotel, around the same time.
What remains unconfirmed: the disbursement exhibit in the hotel’s bankruptcy schedules identifies the $28,000 recipient only as “Dakota Flats,” without “LLC” (Doc. 50, p. 48).
No document reviewed by the Sentinel explicitly states that the $28,000 went to this specific property.
Whether this ownership structure — an entity Hendry controls personally paying, or being paid by, an entity his own hotel controls — meets the legal definition of an “insider” transaction, and what disclosure obligations that would carry, is a legal determination the Sentinel is not making here.
The hotel’s Statement of Financial Affairs states it made no payments to insiders in the year before filing (Doc. 50, p. 46, Question 30); a related section of the same filing was left as a placeholder pending supplementation (Doc. 50, p. 35).
Adam Hendry’s Own Bankruptcy Filing Says He Owns Both Sides of a $28,000 Payment
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