LOS ANGELES and TAMPA, Fla., March 22, 2018 (GLOBE NEWSWIRE) — Kay Properties has successfully completed the Tampa International Business Center 1 DST in Tampa, FL. This DST property was made available to accredited investors under Regulation D Rule 506c and had a total offering equity raise of $9,300,000.
The Tampa International Business Center 1 DST was an all-cash/debt-free DST offering available for 1031 exchange and direct cash investors. The property was a 50,018 square foot, two-building portfolio that is 100% leased for 10+ years.
Dwight Kay, Founder and CEO of Kay Properties commented, “The Tampa International Business Center 1 DST is another example of how Kay Properties continues to provide for our accredited clients exclusive debt-free properties for their 1031 exchanges. We are pleased to add this offering to our portfolio which now includes over 1 million square feet of office, industrial and multifamily DST offerings.”
Chay Lapin, Senior Vice President at Kay Properties added, “We are thrilled to have been able to provide for our clients a debt-free DST investment in the income tax free state of Florida, with a long term corporate lease and located nearby the Tampa International Airport.”
Jason Salmon, Senior Vice President and Managing Director of Real Estate Analytics at Kay Properties commented, “Many of our clients sought out the Tampa International Business Center 1 offering because of the reported strength of the Tampa commercial real estate market in addition to the tenants long-term lease in place until 2028. Investors not requiring debt for their 1031 exchanges also chose the deal as part of a diversified portfolio strategy; especially those that opted to not take on additional debt for their transaction.”
Betty Friant, Senior Vice President out of Kay Properties and Investments Washington D.C. office, added, “The Tampa International Business Center 1 DST tenant is one of the largest managed healthcare providers in the country. The location near the Tampa International Airport is an added bonus for the potential long term viability of the property.”
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Please note that diversification does not guarantee profits or guarantee protection against losses. This material does not constitute an offer to sell or a solicitation of an offer to buy any security. Such offers can only be made by the confidential Private Placement Memorandum (the “Memorandum”). Please be aware that this material cannot and does not replace the Memorandum and is qualified in its entirety by the Memorandum.
This material is not intended as tax or legal advice so please do speak with your attorney and CPA prior to considering an investment. This material contains information that has been obtained from sources believed to be reliable. However, Kay Properties and Investments, LLC, WealthForge Securities, LLC and their representatives do not guarantee the accuracy and validity of the information herein. Investors should perform their own investigations before considering any investment. There are material risks associated with investing in real estate, Delaware Statutory Trust (DST) and 1031 Exchange properties. These risks include, but are not limited to, tenant vacancies, declining market values, and potential loss of entire investment principal.
Past performance is not a guarantee of future results: potential cash flow, potential returns, and potential appreciation are not guaranteed in any way and adverse tax consequences may come into effect. Real estate is typically an illiquid investment. Please read carefully the Memorandum and/or investment prospectus in its entirety before making an investment decision. Please pay careful attention to the “Risk” section of the PPM/Prospectus.
IRC Section 1031, IRC Section 1033, and IRC Section 721 are complex tax codes; therefore, you should consult your tax and legal professionals for details regarding your situation.
Securities are offered through registered representatives of WealthForge Securities, LLC, Member FINRA / SIPC. Kay Properties and Investments, LLC and WealthForge Securities, LLC are separate entities. DST 1031 properties are only available to accredited investors (generally described as having a net worth of over 1 million dollars exclusive of primary residence) and accredited entities only (generally described as an entity owned entirely by accredited individuals and/or an entity with gross assets of greater than 5 million dollars). If you are unsure if you are an accredited investor and/or an accredited entity, please verify with your CPA and attorney prior to considering an investment. You may be required to verify your status as an accredited investor.
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