LAKE COMO, N.J.--(BUSINESS WIRE)--Four Springs TEN31 Xchange, LLC (FSXchange) announced today that it has fully subscribed FSC Industrial I DST – a $10.2 million all cash offering of an industrial distribution facility. Four Springs Capital Markets assisted with the distribution of the offering.
Four Springs TEN31 Xchange is a leading sponsor of Delaware Statutory Trust (DST) programs designed for investors participating in Section 1031 tax deferred real estate exchanges. FSXchange focuses its offerings on single tenant net-leased industrial, medical, retail and office properties.
“We experienced significant demand from the independent broker-dealer community for this offering,” said Coby Johnson, President and Chief Operating Officer of Four Springs Capital Trust. “This is an institutional quality distribution warehouse in a great market, leased on a long-term basis to a tenant with a strong market position.”
FSXchange acquired the 151,000 square foot distribution facility located in the Hartford, Connecticut market in a sale-leaseback transaction in which it originated a new 20-year absolute net lease. The company acquired the property with strong real estate fundamentals - rents are in line with market and the price per foot is in line with replacement cost. The offering did not include any debt financing, which eliminated the risks typically associated with debt, including servicing and refinancing risks, making it an attractive offering for investors.
“Many owners of appreciated real estate don’t realize the significant tax burden they may face upon the sale of a property,” said Eric Paul, President of Four Springs Capital Markets. “A 1031 exchange into an institutional quality property managed by a professional real estate sponsor could be the right solution, and offers a way for financial advisors to offer a value-add service to their most important clientele.”
About Four Springs TEN31 Xchange:
Four Springs TEN31 Xchange (FSXchange) is a sponsor of DST offerings featuring single tenant net-leased real estate and provides customized turnkey tax deferred exchange solutions for real estate investors. FSXchange is a subsidiary of Four Springs Capital Trust, an internally managed real estate investment trust (REIT) focused on acquiring, owning and actively managing a portfolio of single tenant, income producing industrial, medical, retail, and office properties throughout the United States that are subject to long-term net leases.
About Four Springs Capital Markets:
Four Springs Capital Markets is a financial services firm that focuses on raising capital for real estate and other alternative investments. Since 2009, the company has raised capital from financial intermediaries, high net worth individuals, family offices and institutional investors for a wide range of 1031 programs, private placements and REIT equity and debt investments.
Securities offered through Third Seven Capital LLC, Member FINRA/SIPC. Four Springs Capital Markets and Third Seven Capital LLC are not affiliated.