Keystone Buys $32.5 Million Orlando Property for DST Offering

Keystone National Properties, a sponsor of non-traded alternative investments, announced its acquisition of a Walgreens Call Center in Orlando, Florida for their next Delaware statutory trust offering, Keystone 1031 Orlando Office.

The 134,000-square-foot facility was acquired for $32.5 million. The call center is one of four facilities nationwide utilized by Walgreens. Keystone says the center has on-site pharmacists available to speak with customers.

The property is located within SouthPark Center, an Orlando’s office park and home to many of the city’s national and international companies including Accenture, Booking.com, CVS Caremark, Diamond Resorts, JetBlue Airways, Lockheed Martin and Marriott.

The property’s location offers access to all of metro Orlando and regional access to Florida’s population centers.

“Our team has found a property that we believe will deliver value for exchange investors,” said Mike Packman, founder & chief executive officer. “Given the current environment, we decided to pivot from our previous net leased retail property portfolios and focus on single property acquisitions. We stayed true to our investment philosophy of what we feel are nationally recognized brands, credit tenants, and top markets to help investors defer their capital gains tax, preserve capital, and receive potential cash flow.”

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. Since entering the DST space in 2021, Keystone has raised more than $33 million and has approximately $100 million in assets under management. Since inception, Keystone has raised around $150 million over all their tax-advantaged and impact real estate investment offerings.

For more KNPRE/Keystone 1031 news, please visit their directory page.