Greenbridge Mission Critical
Industrial property in Cleveland, Ohio · sponsored by ARCTRUST
Greenbridge Mission Critical was a DST sponsored by ARCTRUST that owned an industrial property in Cleveland, Ohio. Its last Form D was filed Sep 22, 2023.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Sep 22, 2023.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $7,132,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Sep 22, 2023)Form D, Sep 22, 2023
- Selling commissions
- Form D Item 15; the % is our arithmetic$659,710 · 9.2% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: Greenbridge Mission Critical. Top1031 is not a broker-dealer.Greenbridge Mission Critical · Cleveland, Ohio · Photo: arctrustprivatecapital.com
What did Greenbridge Mission Critical own?
Originally constructed in 1967, the single-story plant occupies roughly 11.08 acres on Denison Avenue on Cleveland's west side. ARCTRUST bought it on August 16, 2023 for approximately $11.6 million from Industrial Commercial Properties LLC, which had already leased the entire building to Greenbridge. 4 Greenbridge announced that lease in November 2022, describing the site as office, warehousing and PET-strapping production space in the Stockyards neighborhood. 5
- Property address
- 7000 Denison Avenue, Cleveland, Ohio
- Property size
- 1 single-story industrial building; 144,328 square feet
How was it financed, and what did it cost to sell?
ARCTRUST's launch announcement described the Trust as leveraged, meaning a mortgage sits ahead of investors and the building's rent must service that debt first. 3 The lender, loan principal, interest rate and maturity do not appear in the located public record; those terms live in the offering documents.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $659,710 · 9.2% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,881,360 · 26.3% of offeringForm D Item 16· The filing’s note: “ARCTRUST Industrial Holdings, LLC will be responsible for paying certain fees and costs of approximately $1,531,880.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Chauner Securities, Inc. · CRD 10075
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $50,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind Greenbridge Mission Critical?
ARCTRUST is a Clifton, New Jersey real estate investment and development group; its ARCTRUST Private Capital arm sponsors the 1031 exchange DST offerings, and the entity behind this Trust is affiliate ARCTRUST Industrial Holdings, LLC. The sponsor now carries this offering on its closed-to-new-investments page. 2 AltsWire reported the full subscription on January 24, 2024. 6
- Sponsor
- Offerings on record
What does the SEC record show?
ARCTRUST filed one Form D — the short notice an issuer files with the SEC for a private placement — at launch and never amended it, so the SEC record still reflects the offering's opening snapshot rather than its close. 1 Rule 506(c) permits public advertising but limits purchasers to verified accredited investors.
- Legal Trust name
- ARCTRUST Industrial DST
- SEC CIK
- 1994464
- First Form D
- Sep 22, 2023
- Latest Form D
- Sep 22, 2023
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $7,132,000 | $0 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- What happened to Greenbridge Mission Critical?
- Greenbridge Mission Critical is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Sep 22, 2023.
- Who is the tenant, Greenbridge?
- Greenbridge is the operating name of Polychem, LLC, a manufacturer of plastic strapping products. Greenbridge announced in November 2022 that it had signed a long-term lease at 7000 Denison Avenue for office, warehousing and PET-strapping production, and the building was reported 100% leased to the company when ARCTRUST launched the DST.
- Is the Trust leveraged, and on what terms?
- Yes. ARCTRUST's launch announcement, dated October 3, 2023, reported leverage of 49.5% on the offering. The lender, loan principal, interest rate, amortization and maturity date are not in the located public record; those details would appear in the offering documents and loan documents.
- Does this Trust offer a 721/UPREIT exit?
- The record shows no 721/UPREIT feature — that is, no stated option to exchange DST interests for operating-partnership units in an affiliated REIT at the end of the hold. As structured, an exit would come from a sale or other disposition of the Cleveland property.
- What is still unknown about this Trust?
- Lease commencement and expiration dates, base rent and renewal options; the lender, loan size, rate and maturity; and any post-2024 event such as a refinance, sale or change in occupancy.
In the news
Sources
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DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.