CX Industrial Logistics
Industrial property in Meridian, ID · sponsored by Carter Exchange
CX Industrial Logistics was a DST sponsored by Carter Exchange that owned an industrial property in Meridian, ID (141,360 SF). Its last Form D was filed Oct 20, 2022.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Oct 20, 2022.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $38,581,000Equity offered, per the Form D
- Sold
- 85.2%Form D, Oct 20, 2022; the % is our arithmetic
- Investors reported
- Form D, Oct 20, 202299
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,568,743 · 9.2% 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 →
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: CX Industrial Logistics. Top1031 is not a broker-dealer.CX Industrial Logistics · Meridian, ID · Photo: boisedev.com
What did CX Industrial Logistics own?
Adler Industrial developed the facility and sold the finished building to Carter Exchange, with the sale announced June 29, 2022 and no price disclosed. 3 It sits on roughly 17.5 acres at 2490 E Franklin Road in Meridian, Idaho, completed in 2022 as an Amazon last-mile delivery station with 682 delivery-van spaces. 2 On August 15, 2022, BoiseDev reported the station still empty after a planned early-2022 opening. 4
- Reported location
- Meridian, ID
- Property size
- 141,360 SF
How was it financed, and what did it cost to sell?
Neither the Form D nor Carter Exchange's public page for this Trust establishes whether it carries mortgage debt. Lender identity, loan terms and any leverage are absent from the public record reviewed here.
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
- $3,568,743 · 9.2% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $7,829,210 · 20.2% of offeringForm D Item 16· The filing’s note: “CX Industrial Logistics Depositor, LLC will be responsible for paying certain fees and costs of approximately $5,994,046.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Orchard Securities, LLC · CRD 133378
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jul 20, 2022
- Minimum investment
- $25,000
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 CX Industrial Logistics?
Carter Exchange is the 1031 exchange arm of Carter Funds, packaging single-asset Delaware Statutory Trusts for exchange investors; the Trust's manager entity is CX Industrial Logistics Manager, LLC. A Carter Exchange overview brochure dated March 2024 still lists this Trust among its holdings as a Meridian, Idaho industrial property.
- Sponsor
- Offerings on record
What does the SEC record show?
Carter Exchange filed one Form D under Rule 506(b) — the private-placement rule that bars general advertising and limits sales to investors the sponsor already knows, effectively accredited investors meeting SEC income or net-worth tests. The filing reports a first sale on July 20, 2022, months before the filing date, and no amendment has followed. 1
- Legal Trust name
- CX Industrial Logistics, DST
- SEC CIK
- 1951377
- First Form D
- Oct 20, 2022
- Latest Form D
- Oct 20, 2022
- Filings on record
- 1
- 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 | $38,581,000 | $32,898,068 | 99 | 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 CX Industrial Logistics?
- CX Industrial Logistics is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Oct 20, 2022.
- Who is the tenant, and who stands behind the lease?
- Carter Exchange reports the Meridian, Idaho building 100% leased to Amazon.com Services, LLC, with the lease guaranteed by the parent company, Amazon.com, Inc. The lease is triple-net, meaning the tenant pays property taxes, insurance and maintenance rather than the Trust.
- What is the property, exactly?
- A last-mile delivery station completed in 2022 on roughly 17.5 acres at 2490 E Franklin Road in Meridian, Idaho, with 682 delivery-van parking spaces, per Carter Exchange. Adler Industrial developed it and sold the finished building to Carter Exchange, per a June 29, 2022 Idaho Statesman report that did not disclose a price.
- Did the Amazon station actually open?
- BoiseDev reported on August 15, 2022 that the completed building was sitting empty despite a planned early-2022 opening. A KIVI-TV segment dated April 1, 2024 profiled an Amazon delivery facility of about 140,000 square feet in Meridian. The Trust's current operating status is not established by the sources reviewed here.
- Does this Trust have a 721/UPREIT exit?
- The record shows no REIT conversion feature. A 721/UPREIT exit is a structure in which the DST's property is later contributed to a real estate investment trust's operating partnership in exchange for partnership units; this Trust is not flagged as offering that path.
- How much debt does the Trust carry?
- Unknown from the public record. The Form D does not disclose loan terms, and the sponsor page and independent reporting reviewed here do not establish a lender, a loan balance, or whether the Trust is leveraged at all. Those terms would appear in the offering documents.
In the news
Sources
Show sources (8)Hide sources (8)
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.