Top1031

CF Net Lease Portfolio IV DST

in Michigan, OH · sponsored by Cantor Fitzgerald

Historical · convertedConverted into REIT units (721 exchange) Dec 2024, as reported by Cantor Fitzgerald · last Form D Mar 16, 2023Sponsor source (opens in a new tab)

CF Net Lease Portfolio IV DST, sponsored by Cantor Fitzgerald, filed its first Form D with the SEC on Sep 8, 2017 for a $13.8 million offering. Converted into REIT units (721 exchange) Dec 2024, as reported by Cantor Fitzgerald.

How it ended

No public outcome found

Converted into REIT units (721 exchange) Dec 2024.

Date
Dec 1, 2024

Sponsor document (opens in a new tab)

Cantor Fitzgerald has 5 active offerings on record →

Key facts

Minimum investment
$250,000
From the Form D
Offering size
$21,620,000
Equity offered, per the Form D
Sold
100%
Form D, Mar 16, 2023; the % is our arithmetic
Investors reported
52
Form D, Mar 16, 2023
Selling commissions
$1,621,500 · 7.5% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
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: CF Net Lease Portfolio IV DST. Top1031 is not a broker-dealer.

What did CF Net Lease Portfolio IV DST own?

Seven Walgreens drugstores make up the portfolio: Allendale and Marquette, Michigan; Cincinnati, Ohio; Edmond, Lawton and McAlester, Oklahoma; and Russellville, Arkansas. Together they hold 103,537 rentable square feet. 1 The Trust acquired all seven on November 15, 2016, buying them directly from Walgreens in a sale-leaseback for $36,317,830 including related acquisition expenses. 1

Reported location
Michigan, OH

How was it financed, and what did it cost to sell?

The Trust uses a mortgage, so investor equity is combined with borrowed money. The acquisition loan had an original principal of $22,495,184, a stated maturity of December 1, 2031, and an anticipated repayment date of December 1, 2026. 1 A June 30, 2026 filing reported the same balance outstanding. 3

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.
Converted to a REIT (721)
Yes: converted into REIT units Dec 2024
Sponsor document

Costs and terms from the Form D

Selling commissions
$1,621,500 · 7.5% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$199,384 · 0.9% of offering
Form D Item 16
· The filing’s note: “Offering and Organizational Expenses”
Broker-dealers named in the Form D
14 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Dec 7, 2021
Minimum investment
$250,000

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.

What does the SEC record show?

The 2017 Form D recorded a $13,847,646 equity offering. 6 A 2023 amendment updated the figures. It was sold privately to accredited investors, with no general advertising.

Legal Trust name
CF NET LEASE PORTFOLIO IV DST
SEC CIK
1716556
First Form D
Sep 8, 2017
Latest Form D
Mar 16, 2023
Filings on record
3
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$21,620,000
$21,620,000+$12,231,868
52+32
EDGAR
Form D (new notice)$21,620,000
$9,388,132
20
EDGAR
Form D$13,847,646
$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 CF Net Lease Portfolio IV DST?
CF Net Lease Portfolio IV DST is a Historical offering. Converted into REIT units (721 exchange) Dec 2024, as reported by Cantor Fitzgerald.
Did CF Net Lease Portfolio IV DST convert into REIT units through a 721 exchange?
Converted into REIT units (721 exchange) Dec 2024, as reported by Cantor Fitzgerald. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
How a DST-to-721 UPREIT exit works
What does CF Net Lease Portfolio IV DST own?
It owns seven Walgreens drugstores totaling 103,537 rentable square feet, in Allendale and Marquette, Michigan; Cincinnati, Ohio; Edmond, Lawton and McAlester, Oklahoma; and Russellville, Arkansas. The property list comes from an SEC filing by Cantor Fitzgerald Income Trust, Inc. covering the period ended June 30, 2018.
Who is the tenant and how long does the lease run?
Walgreens is the tenant at all seven stores. The leases began November 15, 2016 with a first term through November 30, 2031, and Cantor Fitzgerald Income Trust's 10-K for 2020 reported that Walgreens waived a termination option in exchange for $2.7 million, extending the first term to November 30, 2036. Automatic five-year renewal periods follow unless Walgreens gives timely notice of nonrenewal.
How did the Trust acquire the properties?
It bought them straight from Walgreens in a sale-leaseback on November 15, 2016, for a total purchase price of $36,317,830 including related acquisition expenses, according to Cantor Fitzgerald Income Trust's filing. In a sale-leaseback, the occupant sells the real estate and stays on as the tenant.
Is the Trust financed with a mortgage?
Yes. The acquisition loan had an original principal amount of $22,495,184, a stated maturity of December 1, 2031, and an anticipated repayment date of December 1, 2026. Cantor Fitzgerald Income Trust's 10-Q for the period ended June 30, 2026 reported the same balance outstanding and noted that the interest rate increases under the loan terms after the anticipated repayment date.
How does the rent change over time?
The Walgreens leases set fixed base rent for the first five lease years, then 5% increases at five-year intervals through the first 35 lease years, per Cantor Fitzgerald Income Trust's filing. Beginning in lease year 36, rent resets to fair market value every five years.
Has an affiliated REIT taken interests in this Trust?
Yes. Cantor Fitzgerald Income Trust reported a 3.77% interest in the seven-property trust at year-end 2025, and said its operating partnership issued Class I OP Units to third-party investors in exchange for DST equity interests in June, July and August 2025. Its 10-Q for the period ended June 30, 2026 reported a completed tender offer and a 16.70% equity interest, with other parties holding 83.30%.

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.