Somerset Pharmacy
Retail property in Somerset, NJ · sponsored by ARCTRUST
Somerset Pharmacy was a DST sponsored by ARCTRUST that owned a retail property in Somerset, NJ. Its last Form D was filed Dec 6, 2022.
How it ended
Last Form D filed Dec 6, 2022.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $11,443,893Equity offered, per the Form D
- Sold
- 37.2%Form D, Dec 6, 2022; the % is our arithmetic
- Investors reported
- Form D, Dec 6, 202217
- Selling commissions
- Form D Item 15; the % is our arithmetic$743,853 · 6.4% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
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: Somerset Pharmacy. Top1031 is not a broker-dealer.Somerset Pharmacy · Photo: arctrustprivatecapital.com
What did Somerset Pharmacy own?
The Trust holds a single free-standing retail pharmacy building in Somerset, New Jersey, occupied by CVS. An undated AltsWire directory entry is the source of the building and land measurements shown below. 3 No acquisition date or purchase price is established in the Form D record or in reviewed sponsor material, and the exact street address could not be publicly tied to this Trust; a 2018 ARCTRUST announcement of a Somerset CVS purchase is a lead, not proof.
- Reported location
- Somerset, NJ
- Property size
- 12,900 square feet on 2.25 acres
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
No lender, loan amount, or debt structure for this Trust appears in its Form D filings or in the reviewed sponsor material, so whether the property carries a mortgage or is held free of debt is not publicly established. Form D does not require that disclosure; offering documents would.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $743,853 · 6.4% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $114,439 · 1.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 10 named in the Form D
Show the firms
- Arete Wealth Management, LLC · CRD 44856
- Center Street Securities, Inc. · CRD 26898
- Chauner Securities, Inc. · CRD 10075
- Great Point Capital LLC · CRD 114203
- IFP Securities, LLC · CRD 297287
- Patrick Capital Markets, LLC · CRD 16518
- Realized Financial, Inc. · CRD 22333
- Saxony Securities, Inc. · CRD 115547
- Stonecrest Capital Markets, Inc. · CRD 39616
- TCFG Wealth Management, LLC · CRD 164153
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 Somerset Pharmacy?
ARCTRUST markets its 1031 exchange programs through ARCTRUST Private Capital, which lists this Trust as a 2022-present retail offering tenanted by CVS in Somerset, New Jersey and labels the page closed to new investments. 2
- Sponsor
- Offerings on record
What does the SEC record show?
Two filings make up the entire record: an initial notice of the offering and one amendment that updated the sales figures. The Trust is sold under a private-placement exemption that bars general advertising and limits participation to accredited investors — people meeting SEC income or net-worth tests — with a stated $50,000 minimum per investor.
- Legal Trust name
- ARCTRUST Somerset Pharmacy DST
- SEC CIK
- 1938023
- First Form D
- Jul 15, 2022
- Latest Form D
- Dec 6, 2022
- Filings on record
- 2
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $11,443,893 | $4,263,533+$4,263,533 | 17 | EDGAR | |
| Form D | $11,443,893 | $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 Somerset Pharmacy?
- Somerset Pharmacy is a Historical offering. Last Form D filed Dec 6, 2022.
- Who is the tenant, and what does a bonded triple-net lease mean?
- CVS occupies the building. In a triple-net lease the tenant pays property taxes, insurance and maintenance rather than the landlord. An undated AltsWire directory entry describes the lease as bonded with about 12 years then remaining on the base term, meaning CVS is also responsible for rent continuation following a casualty. The actual lease terms are set out in the offering documents, not in any public filing.
- Does the property carry a mortgage?
- Not established publicly. Form D filings do not disclose property-level debt, and no lender, loan balance, or all-cash designation for this Trust appears in the reviewed sponsor or third-party material. The offering documents would state the financing structure and any loan terms.
- Can this Trust be rolled into a REIT at exit?
- No 721/UPREIT feature — the arrangement in which DST interests are later contributed to a REIT operating partnership in exchange for OP units — is indicated for this Trust. Exit mechanics for a single-tenant DST typically depend on a sale of the property, and the offering documents govern.
- What is the minimum investment, and who can participate?
- The Form D filings state a $50,000 minimum outside investment. Participation is limited to accredited investors under the private-placement exemption used here, which also bars general advertising, so the offering is made through the sponsor's existing relationships rather than public marketing.
Sources
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These links support the record as a whole; individual details may come from different sources.
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.