Four Springs Capital Trust (FSCT) is an internally managed real estate investment trust focused on acquiring, owning, and managing a diversified portfolio of income-producing industrial, medical, retail and office commercial real estate properties throughout the United States that are subject to long-term triple or double net leases with investment grade and other credit worthy tenants.
Four Springs TEN31 Xchange (FSXchange) is a real estate firm that provides customized tax deferred exchange solutions for real estate investors. FSXchange is a subsidiary of Four Springs Capital Trust (FSCT), a REIT that focuses on acquiring and managing a diversified portfolio of single-tenant commercial properties, including industrial/warehouse, medical/office, and retail that have long-term double or triple net leases with credit worthy tenants.
1901 Main Street
Lake Como, NJ 07719
|Current and Former Offerings|
|13 DST offerings, 1 Private REIT (Four Springs Capital Trust)|
|Year Founded||Sector||Structure||Senior Executives|
|2012||Real estate: industrial, healthcare, retail and office properties||Reg D Private Placement – net lease REIT, DST||William Dioguardi, Chief Executive Officer
Coby Johnson, President, Chief Operating Officer and Secretary
John E. Warch, Chief Financial Officer and Treasurer
Cynthia M. Daly, Vice President, Underwriting
Jared Morgan, Senior Vice President, Head of Acquisitions
|# of Liquidity Events*||# of Private Placement Programs*|
|$355 million||$221 million||–||13 DST Offerings, 1 Private REIT|
|We seek to acquire single tenant net lease properties throughout the United States that are leased to high quality tenants and have remaining lease terms in excess of 10 years and with contractual rent increases. We believe these properties offer benefits as compared to other types of commercial real estate due to the relative stability of the cash flows from long term leases, as well as reduced property level expenses and capital expenditures resulting from the net lease structure. We generally target properties with purchase prices ranging from $5 million to $25 million, as we believe there is less competition from larger institutional investors that typically target larger properties and portfolios. Our portfolio is diversified not only by tenant, industry and geography, but also by property type, which we believe differentiates us from certain other net lease REITs and further reduces risk and enhances cash flow stability. We are an active asset manager and regularly review each of our properties for changes in the credit of the tenant, business performance at the property, industry trends and local real estate market conditions.
Our senior management team has extensive net lease real estate and public and private REIT management experience. Since our inception, our management team has also developed and implemented internal processes, procedures and controls to establish a scalable infrastructure that we believe will allow us to grow efficiently. We are actively investing in single tenant net lease real estate and have developed a reputation as a credible and active buyer of single tenant net lease real estate within the industry. We leverage our extensive network of long standing relationships with owners, tenants, developers, brokers, lenders, private equity firms and other participants in the real estate industry to access a wide variety of acquisition opportunities. We believe that our knowledge of the net lease market, reputation as a credible and active buyer, and extensive network of long standing relationships will provide us access to a pipeline of attractive investment opportunities, which will enable us to grow and further diversify our portfolio.
Four Springs Capital Trust Portfolio Overview (As of 12/31/18)
*Data as of 12/31/18
- Weighted by ABR.
- Excludes the company’s property in Lebanon, IN that is leased on a month-to-month basis. Though we consolidate this property in our financial statements in accordance with GAAP, we only own 10% therein through a joint venture. On a prorata basis, this property contributes less than 1% of our prorata share of rental revenue.
- Tenant or lease guarantor has an investment grade credit rating from a major rating agency or has an obligation that has been so rated. An investment grade credit rating refers to a published long-term credit rating of Baa3/BBB– or above from one or both of Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services. This percentage is weighted by ABR.
- Based on the later of year built or year of last renovation and weighted by ABR.
Note: Property type composition by Base Rent.
*Data as of 12/31/18