WALL, N.J.--(BUSINESS WIRE)--Jun 19, 2023--
Four Springs TEN31 Xchange, LLC, a sponsor of Delaware statutory trust programs, today announced the closing of loan and launch of FSC Industrial Portfolio 27, DST which owns 22 industrial properties. The $150.5 Million offering is 100% net leased on a long-term basis to 14 investment grade and other creditworthy tenants and is secured by a $72.2 Million loan from Deutsche Bank.
The diverse portfolio includes properties located in 13 different states and consists of mission critical locations that serve as headquarters, major manufacturing plants, regional distribution centers and strategic rental locations. Top tenants include companies like Brenntag, Dominos, Columbia Gas, International Paper and New York State Electric & Gas, with the largest industry footprint in the Chemical Distribution, Logistics, and Food & Beverage industries. The offering includes 1.3 million rentable industrial square feet and represents 10 different tenant industries.
“We are pleased with the closing of this loan and bringing this geographically and industry diverse portfolio to market,” said William Dioguardi, CEO. “While each Tenant operates, for the most part, in distinct industries they all can be tied together through their involvement in the domestic supply chain.”
Four Springs TEN31 Xchange, LLC is a sponsor of Delaware Statutory Trust (DST) programs and a subsidiary of Four Springs Capital Trust (FSCT), a private net lease Real Estate Investment Trust. Four Springs provides access to tax-deferred exchanges via DST offerings, whole property solutions and UPREITs. Their platform services Broker Dealers, RIAs and Wirehouses with institutional quality 1031 Exchange DST offerings.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230619662352/en/
CONTACT: Four Springs TEN31 Xchange
Charles Shaw
Email:info@fscap.net
Phone: 732.749.7344
KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: PROFESSIONAL SERVICES COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY REIT BANKING
SOURCE: Four Springs TEN31 Xchange, LLC
Copyright Business Wire 2023.
PUB: 06/19/2023 09:15 AM/DISC: 06/19/2023 09:16 AM
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