Home Alts News Four Springs TEN31 Xchange Fully Subscribes 1031 Exchange DST Offering

Four Springs TEN31 Xchange Fully Subscribes 1031 Exchange DST Offering

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

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Four Springs TEN31 Xchange LLC, a sponsor of Delaware statutory trust programs, has fully subscribed FSC Industrial I DST – a $10.2 million all cash offering of an industrial distribution facility.

Four Springs TEN31 Xchange sponsors programs designed for investors participating in Section 1031 tax deferred real estate exchanges and focuses on single tenant net-leased industrial, medical, retail and office properties.

The company 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.

“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.”

Four Springs TEN31 Xchange is a subsidiary of Four Springs Capital Trust, an internally managed real estate investment trust focused on acquiring, owning and managing a portfolio of single tenant industrial, medical, retail, and office properties throughout the United States that are subject to long-term net leases.

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