Zero Coupon LV Training Facility
Single-tenant office property in Henderson, NV · sponsored by Capital Square
Historical · soldSold, as reported by Capital Square · last Form D Dec 19, 2022Sponsor source (opens in a new tab)
Zero Coupon LV Training Facility was a DST sponsored by Capital Square that owned a single-tenant office property in Henderson, NV (336,000 sq ft). Capital Square sold the property, as reported by the sponsor.
How it ended
Sold according to the sponsor, not yet verified
Sold.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $57,592,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Dec 19, 2022)Form D, Dec 19, 2022
- Selling commissions
- Form D Item 15; the % is our arithmetic$4,895,320 · 8.5% of offering
- Financing
- Zero coupon. Cash flow from the property goes to servicing the debt.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 →
Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.
Ask a 1031 specialist about this recordFree. About: Zero Coupon LV Training Facility. Top1031 is not a broker-dealer.What did the Trust own?
The building was built to suit for the Raiders and completed in 2020 at 1475 Raiders Way in Henderson, across from Henderson Executive Airport. 2 It combines a three-story office building, an indoor practice facility, outdoor fields, a performance center and a pool. 2 Capital Square bought it on December 16, 2022 and placed it into this Trust.
- Reported location
- Henderson, NV
- Property size
- 336,000 sq ft (incl.; ~139,000 SF three-story office; ~130,000 SF indoor practice facility)
How was it financed, and what did it cost to sell?
Capital Square's offering page describes the property as highly leveraged and states that purchasers receive no cash distributions before disposition, and that the Trust generates taxable income without corresponding cash flow. 1 The lender is not identified in the reviewed public record.
Debt
- Financing
- Zero coupon. Cash flow from the property goes to servicing the debt.
Costs and terms from the Form D
- Selling commissions
- $4,895,320 · 8.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $7,524,700 · 13.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Wealthforge Securities, LLC · CRD 152550
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 the Trust?
Capital Square sponsors 1031 exchange DST programs through Capital Square Realty Advisors, LLC, which the Form D names as promoter alongside CSRA Manager, LLC as director/promoter and Louis Rogers as an executive officer and promoter. 4 The sponsor announced on December 16, 2022 that it had acquired the Raiders facility on behalf of this Trust. 3 Its offering page lists WealthForge Securities, LLC as managing broker-dealer. 1
- Sponsor
- Offerings on record
What does the SEC record show?
The public paper trail here is thin: a single Form D lodged days after the acquisition closed, with no amendment indexed since. The Trust was offered under Rule 506(c), the exemption that permits general advertising so long as every buyer's accredited-investor status is verified.
- Legal Trust name
- CS1031 Zero Coupon LV Training Facility, DST
- SEC CIK
- 1958797
- First Form D
- Dec 19, 2022
- Latest Form D
- Dec 19, 2022
- 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 | $57,592,000 | $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 Zero Coupon LV Training Facility?
- Zero Coupon LV Training Facility is a Historical offering. Sold, as reported by Capital Square.
- What does a "zero coupon" DST mean for me as an investor?
- Capital Square's offering page describes this property as highly leveraged and states that purchasers receive no cash distributions before disposition and that the Trust generates taxable income without corresponding cash flow. In plain terms, an investor in a structure like this is not buying current income; the economics depend on what happens at sale or refinancing. The tax treatment of income without cash is a question for your own CPA.
- Who is the tenant, and how long is the lease?
- The tenant is Raiders Football Club, LLC, the entity behind the NFL franchise, occupying the whole property under an absolute-net lease. Trade coverage of the December 2022 acquisition described a 29-year original term with roughly 26 years remaining at that point, plus seven 10-year renewal options. Capital Square states the tenant also has a right of first offer to purchase the property.
- Can this Trust convert into REIT shares through a 721/UPREIT exit?
- No. Top1031's record for this Trust shows no 721 exchange or UPREIT feature — that is the structure in which DST interests are later contributed to a REIT's operating partnership in exchange for OP units. Investors here would look to a sale or other disposition of the property, and the tenant's right of first offer is part of that picture.
- What is not known about this deal from public sources?
- The reviewed sources do not state the purchase price, the loan amount or loan-to-value, the lender's identity, the current amount raised, or any completed disposition or outcome. No SEC filing for this CIK appears after the December 19, 2022 Form D. Those figures would be found in the offering documents.
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.