CAI Investments Takes Delaware Statutory Trust Offering Full Cycle

CAI Investments LLC, a property manager/developer and private placement sponsor, has taken another Delaware statutory trust offering full cycle following the sale of an industrial/office building in Daytona Beach, Florida.

CAI Investments LLC, a property manager/developer and private placement sponsor, has taken another Delaware statutory trust offering full cycle with the $12.1 million sale of an industrial/office building in Daytona Beach, Florida. The property was originally purchased for $10.5 million in early 2019.

According to a filing with the Securities and Exchange Commission, CAI launched its private placement offering, CAI Investments Daytona DST, in December 2018 and sought to raise $6.4 million in investor equity.

The property is occupied by the Daytona Beach News-Journal, a local daily newspaper owned by Gannett Co. Inc. (NYSE: GCI), one of the country’s largest newspaper publishers by daily circulation. The Daytona Beach News-Journal, which recently expanded into digital media, is a major employer in the area and has served Volusia and Flagler counties since 1883.

“This was our first multi-investor DST and the first to go full-cycle,” said Christopher Beavor, founder of CAI. “We are pleased that even during the COVID crisis in 2020 and 2021, that the tenant, while paying out a better than industry average distribution rate, did not miss one payment for our investors.”

James Hickey, senior vice president of capital markets, added that CAI “continues to look for properties with tenants that are adapting, expanding, and capitalizing on their specific business expertise in their industries.”

Headquartered in Las Vegas, CAI Investments is a real estate development company that finances, develops and manages commercial properties in key markets across the United States.

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