Healthcare Products II
Industrial/manufacturing property in Montgomery, IL — sponsored by CAI Investments
Files with the SEC as CAI Investments Healthcare Products II, DST
Minimum investment
$100k
Offering size
$31.4M
How much has sold
None sold yet
Asset type
Industrial/manufacturing property
Location
Montgomery, IL
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
CAI Investments Healthcare Products II, DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional interests in real estate — owning a single-tenant manufacturing plant in Montgomery, Illinois leased to VVF Illinois, LLC.2 CAI announced on December 9, 2022 that the Trust was fully subscribed, so it is closed to new investors.3 No full-cycle outcome has been reported.
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The plant stands at 2000 Aucutt Road in Montgomery, Illinois.2 CAI announced on August 22, 2022 that it had bought the manufacturing facility for a DST offering, with VVF Illinois, LLC already fully occupying the building.4 That announcement put the size at roughly 462,300 square feet, a slightly different figure from the one on CAI's property page. The public record does not establish the purchase price or the year built.
- Reported location
- Montgomery, IL
- Property size
- 462,251 +/- square feet; 74.32 +/- acres
Who is the tenant, and what's the lease?
VVF Illinois, LLC, a manufacturer of personal-care products and oleochemicals, occupies the entire plant.4 CAI describes the deal as a 20-year absolute-NNN sale-leaseback — the tenant sold the building, stayed on, and carries taxes, insurance and maintenance — with six five-year renewal options and fixed annual rent increases.5
How did it end?
No sale or other ending on record
JRW's tracker lists Healthcare Products II DST as 'Full Cycle: Active' with a 5.79% annual cash flow distribution, and CAI's portfolio page continues to feature the 2000 Aucutt Road, Montgomery, IL property leased to VVF Illinois Services, LLC as an active holding.
CAI lists a $31,439,236 offering for a single-tenant absolute-NNN facility leased to VVF Illinois, LLC, a manufacturer of personal-care products and oleochemicals; the sponsor describes the facility as 462,251 +/- square feet on 74.32 +/- acres. The 2022-12-09 sponsor article explicitly states the DST was fully subscribed.
462,251 +/- square feet; 74.32 +/- acresSupporting evidence
How is it financed, and what does it pay?
CAI's brochure describes the Trust as an all-cash purchase with no loan on the property.5 For an investor that means no lender, no mortgage maturity to refinance during the hold, and no debt to replace — which matters if your relinquished property carried a mortgage.
Who's behind it?
CAI Investments LLC sponsors the Trust; the Form D names Christopher Beavor among the related persons.1 CAI both sourced and announced this deal itself, publishing the August 22, 2022 purchase notice and then a December 9, 2022 statement that the offering was fully subscribed.3 A third-party sponsor listing from JRW Investments carries conflicting lifecycle labels for this Trust and reports no completed full-cycle result.6
- Sponsor
- CAI Investments
- Legal Trust name
- CAI Investments Healthcare Products II, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 0 active / 3 total offerings from CAI Investments
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust filed a single Form D notice and never amended it, so EDGAR never recorded any later movement in the raise — the sponsor's own announcement is the only evidence the offering closed. It was offered under Rule 506(b), the private-placement path that bars general advertising and reaches investors the sponsor already knew.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
What happened to Healthcare Products II?
Top1031 lists Healthcare Products II as historical. It is no longer raising money.
Where does Top1031 get the data for Healthcare Products II?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in this DST?
No. CAI Investments announced on December 9, 2022 that the Trust was fully subscribed, meaning the offering closed and no new interests are being sold. Trusts in this state are Historical records; any transfer of an existing interest would be a private secondary transaction between holders, subject to the trust agreement.
Who is the tenant, and what does it do there?
VVF Illinois, LLC, a manufacturer of personal-care products and oleochemicals, occupies the entire Montgomery, Illinois facility. CAI's brochure describes it as 100% leased to VVF under a 20-year absolute-NNN sale-leaseback with six five-year renewal options — an arrangement in which the tenant sold the plant and leased it back while continuing to pay taxes, insurance and maintenance.
Why doesn't the SEC record show how much was raised?
Only one Form D was filed, on August 3, 2022, at the very start of the offering, and no amendment was ever filed. EDGAR therefore never captured the raise progressing. The only account of the offering completing is CAI's own December 9, 2022 announcement that the Trust was fully subscribed.
Is there a mortgage on the property?
CAI's brochure describes the Trust as an all-cash acquisition with no loan. An unleveraged DST gives an exchanger no debt to count toward replacing mortgage debt from a relinquished property, which is a common reason exchangers look at leveraged offerings instead. Confirm the capital structure in the PPM before relying on it.
Has this Trust sold the property or gone full cycle?
No completed sale, refinancing or full-cycle outcome has been reported. A third-party sponsor listing from JRW Investments shows conflicting status labels for this Trust and reports no full-cycle result, and CAI's current property page does not state a lifecycle status.
Does this Trust convert to a REIT?
There is no 721/UPREIT exit indicated — that is the structure where a DST's property is contributed to a REIT's operating partnership in exchange for units, ending the ability to do a further 1031 exchange. Nothing in this Trust's public record describes such a conversion path.
Chapter 9CAI Investments Fully Subscribes DST Industrial PropertyCAI announced it had fully subscribed the Montgomery manufacturing DST, fully occupied by VVF Illinois, LLC under a new 20-year lease with 1.5% annual rent increases. CAI Investments Buys Industrial Property in Illinois for DST OfferingCAI announced its purchase of a 462,300-square-foot manufacturing facility in Montgomery for a DST offering, fully occupied by VVF Illinois, LLC under a new 20-year lease.