Four Springs Capital Markets, a distributor of tax deferred 1031 exchanges, has closed FSC Industrial 9 DST, a Delaware statutory trust offering that owns an industrial property leased to Ford Motor Company.
The offering launched in late January 2022 and raised more than $69 million in equity from accredited investors through a network of independent broker-dealers, registered investment advisors, and other wealth management firms. The total offering size, with leverage, was $136 million.
Located near Detroit, the industrial property is a newly constructed 1.1 million-square-foot industrial distribution center that was built-to-suit for Ford Motor Company.
The property was developed for Ford as a parts redistribution center and the company consolidated three regional parts facilities into this one location as it offers access to Ford’s suppliers, customers, transportation, and labor.
“We are extremely pleased at the reception this program received in the market,” said Eric Paul, president of Four Springs Capital Markets. “Financial advisors and their investors recognized the mission-critical nature of this industrial property leased to Ford, and we are thankful for their support and confidence in us.”
Through its DST platform and real estate investment trust, Four Springs affiliates currently manage more than $1 billion of real estate, consisting of 162 properties in 32 states. The 100 percent occupied portfolio is comprised of 44 industrial, 54 medical, 61 retail and two office properties. The portfolio’s tenant mix includes 72 tenants in 38 different industries.
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 range of 1031 programs, private placements and REIT equity and debt investments.