Keystone 1031, a sponsor of tax-advantaged real estate investments, has fully subscribed Keystone 1031 Net Leased Portfolio II, a Delaware statutory trust offering, after raising $17.7 million from accredited investors through a group of independent broker-dealers.
The DST launched in late January 2022 and purchased eight single-tenant, net-leased properties for nearly $35.7 million. The 62,000-square-feet portfolio includes a 7-Eleven located in Las Vegas, a Family Dollar in Fort Worth, a Goodwill in St. Paul, a Walgreens in Denver, an O’Reilly Auto Parts in Chicago, a Jiffy Lube in San Antonio, a Sherwin Williams in Milwaukee, and a Starbucks in Bloomington, Indiana.
The company noted that the fund was designed to help provide investors with monthly cashflow of 5 percent annually, and Keystone 1031 obtained 10-year, interest-only financing for the acquisition.
“I am proud of another successful raise and believe that our ability to identify good real estate in top markets and provide dependable income to investors helped us successfully enter a competitive market,” said Mike Packman, founder and chief executive officer. “Our team values the relationships we are developing in the independent space and is excited to continue providing quality DST offerings to investors.”
Keystone 1031 is a member of the Keystone National Property family of companies. Established in 2016, KNPRE provides impact and tax-advantaged investment opportunities for accredited investors.