Top1031

WAG Portfolio Properties

Net-lease retail property · sponsored by Cantor Fitzgerald

Historical · convertedConverted into REIT units (721 exchange) Sep 2024, as reported by Cantor Fitzgerald · last Form D May 26, 2022Sponsor source (opens in a new tab)

WAG Portfolio Properties was a DST sponsored by Cantor Fitzgerald that owned 8 net-lease retail properties. Converted into REIT units (721 exchange) Sep 2024, as reported by Cantor Fitzgerald.

How it ended

Moved into a REIT, per the REIT's SEC filing

Converted into REIT units (721 exchange) Sep 2024.

Date
Sep 1, 2024
Held
2.3 years

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
$23,140,470
Equity offered, per the Form D
Sold
100%
Form D, May 26, 2022; the % is our arithmetic
Investors reported
2
Form D, May 26, 2022
Selling commissions
$1,099,172 · 4.7% 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: WAG Portfolio Properties. Top1031 is not a broker-dealer.

What did WAG Portfolio Properties own?

The Trust held eight freestanding retail buildings operated as Walgreens pharmacies. Filings for the portfolio's current owner report its location only as "Various," with no individual cities, states or street addresses disclosed. 2 That owner, Cantor Fitzgerald Income Trust, reported a $42,000,000 contract purchase price and a September 2024 acquisition of the eight-property portfolio. 3 The reviewed filings say nothing about construction dates or site features.

Property size
8 properties; 118,339 square feet

Tenant and lease terms are not in the SEC filings or cited sources.

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

This was a leveraged Trust rather than an all-cash one: a mortgage known as the WAG Portfolio Loan was outstanding against the eight properties when Cantor Fitzgerald Income Trust took them on September 1, 2024. 6 That loan was repaid on March 12, 2025 using the new owner's Citizens credit facility, and the properties were pledged as collateral. 7

Debt

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

Costs and terms from the Form D

Selling commissions
$1,099,172 · 4.7% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$641,298 · 2.7% of offering
Form D Item 16
· The filing’s note: “Estimate of certain fees and expenses including Closing Costs, O&O Expenses, Lender Expenses and Structuring Fee may accrue to one or more related persons.”
Broker-dealers named in the Form D
3 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
May 11, 2022
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 SEC record here is a single unamended Form D — the brief notice an issuer files for a private placement, not a reviewed prospectus. A Rule 506(b) offering may be sold only to accredited investors (those meeting income or net-worth tests) and cannot be generally advertised. The Form D reported a first sale on May 11, 2022. 10

Legal Trust name
CF WAG Portfolio DST
SEC CIK
1931233
First Form D
May 26, 2022
Latest Form D
May 26, 2022
Filings on record
1
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$23,140,470
$23,140,470
2
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 WAG Portfolio Properties?
WAG Portfolio Properties is a Historical offering. Converted into REIT units (721 exchange) Sep 2024, as reported by Cantor Fitzgerald.
Did WAG Portfolio Properties convert into REIT units through a 721 exchange?
Converted into REIT units (721 exchange) Sep 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
Where are the eight properties?
The public record does not say. Cantor Fitzgerald Income Trust's investment table lists the WAG Portfolio Properties' location only as "Various," and neither that filing nor the Cantor prospectus amendment gives individual property names, cities, states or street addresses.
Who is the tenant and how long does the lease run?
Every location is a Walgreens retail pharmacy, leased to or guaranteed by Walgreen Co. The Cantor prospectus amendment described 11.9 years of remaining lease term ending in November 2036, and the current owner reported a 10.7-year weighted-average remaining term as of March 31, 2026.
Was there any debt on the portfolio?
Yes. A mortgage called the WAG Portfolio Loan was outstanding when the properties transferred on September 1, 2024. Cantor Fitzgerald Income Trust repaid that loan on March 12, 2025 with its Citizens credit facility and pledged the eight properties as collateral; the facility was amended and restated on July 16, 2025 with a $150.0 million aggregate principal amount and a July 16, 2028 maturity.
Has anyone raised concerns about this offering?
On March 22, 2025 the White Law Group, a securities law firm, published an investor alert stating it was investigating potential claims against broker-dealers that may have unsuitably recommended CF WAG Portfolio DST. The firm framed the allegations with qualifying language; an investigation is not a finding of wrongdoing.

In the news

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.