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Four Springs TEN31 Xchange Fully Subscribes DST Offering of Amazon-Leased Industrial Property

Four Springs TEN31 Xchange LLC, a sponsor of Delaware statutory trust programs, has fully subscribed FSC Industrial 7 DST.

Four Springs TEN31 Xchange LLC, a sponsor of Delaware statutory trust programs, has fully subscribed FSC Industrial 7 DST, a Regulation D offering that owns a “last mile” industrial distribution facility in Oklahoma City, Oklahoma. The 312,000-square-foot property is net-leased on a long-term basis to Amazon Services LLC.

According to a filing with Securities and Exchange Commission, the private placement offering launched in late March 2021 and sought to raise $23.5 million from accredited investors. The total offering size, with 49 percent leverage, was $46.7 million.

Amazon.com, Inc., the parent company of the tenant, has the largest industrial footprint in the world, including 180 million square feet of space in the United States. Four Springs noted that while the majority of Amazon’s footprint falls under large fulfillment centers, the company continues to put emphasis on last mile delivery.

“We’re seeing strong demand for high-quality industrial properties that are net leased to creditworthy corporate tenants,” said Eric Paul, president of Four Springs Capital Markets. “This offering featured an institutional quality property in a great market, leased on a long-term basis to a tenant with the leading e-commerce market position.”

Four Springs TEN31 Xchange sponsors DST offerings focused on single-tenant net-leased real estate. FSXchange is a subsidiary of Four Springs Capital Trust, an internally managed private real estate investment trust that invests in industrial, medical, retail properties throughout the United States that are subject to long-term net leases.

Four Springs Capital Markets is a financial services firm that raises 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 range of 1031 programs, private placements and REIT equity and debt investments.

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