CX Midwest Industrial Logistics
Industrial in Fort Wayne, IN — sponsored by Carter Exchange
Files with the SEC as CX Midwest Industrial Logistics, DST
Minimum investment
$25k
Offering size
$69.1M
How much has sold
6.0%
Asset type
Industrial
Location
Fort Wayne, IN
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
CX Midwest Industrial Logistics, DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional real estate as replacement property — that owns a 2021-built Amazon inbound cross-dock (IXD) distribution facility in Fort Wayne, Indiana, triple-net leased to Amazon.com Services, LLC. Carter Exchange sponsors it. The Trust filed its first Form D in September 2022 and a single amendment in November 2023.
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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 building is a first-mile Amazon Inbound Cross-Dock, or IXD — the facility type that receives bulk inbound freight from vendors and sorts it onward rather than shipping to consumers directly. Carter Exchange's materials place it adjacent to the Fort Wayne airport and say it was built in 2021 to serve roughly 100 Amazon fulfillment centers.1 The sponsor also reports about 25 acres of excess land on the site.2
- Reported location
- Fort Wayne, IN
- Property size
- 645,052 SF on 137.91 acres
Who is the tenant, and what's the lease?
Carter Exchange reports the facility is 100% triple-net leased to Amazon.com Services, LLC, with the lease guaranteed by parent Amazon.com, Inc.2 Triple-net means the tenant, not the Trust, carries taxes, insurance and maintenance. Lease commencement and expiration dates were not established in the public record reviewed.
How did it end?
No sale or other ending on record
Carter Exchange's overview, hosted by AltsWire, reports that CX Midwest Industrial Logistics was sold for $62.5 million on May 24, 2023, with a 2.8-year average hold, 1.75x equity multiple, and 32.30% annual return.
First-mile Amazon Inbound Cross-dock (IXD) Distribution Facility, built in 2021 on a 137.91-acre site in Fort Wayne, IN; 645,052 SF; 100% triple-net leased to Amazon.com Services, LLC guaranteed by Amazon.com, Inc.
645,052 SF on 137.91 acresSupporting evidence
How is it financed, and what does it pay?
Carter Exchange's property supplement states the project will be leveraged — meaning mortgage debt sits on the property alongside investor equity — but the materials reviewed disclose no principal balance, lender, or loan-to-value.1 The sponsor's 2024 overview lists total investment cost of $129,123,000.3
Who's behind it?
Carter Exchange is the 1031 exchange arm of Carter Funds, which sponsors institutional-scale real estate exchange programs.3 The Trust's SEC filings list a Tampa, Florida address, and the manager of record is CX Midwest Industrial Logistics Manager, LLC.4 Carter Exchange's 2024 platform overview listed this Fort Wayne Trust among its active offerings.3
- Sponsor
- Carter Exchange
- Legal Trust name
- CX Midwest Industrial Logistics, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 0 active / 10 total offerings from Carter Exchange
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust filed its original Form D — the brief SEC notice an issuer files for a private placement — in September 2022, then a single amendment in November 2023 updating the amount raised and investor count. It is offered under Rule 506(c), which permits public advertising but limits purchases to verified accredited investors.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- 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 CX Midwest Industrial Logistics?
Top1031 lists CX Midwest Industrial Logistics as historical. It is no longer raising money.
Where does Top1031 get the data for CX Midwest Industrial Logistics?
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.
What does this Trust actually own?
A single industrial building in Fort Wayne, Indiana: a 645,052-square-foot Amazon Inbound Cross-Dock (IXD) distribution facility on a 137.91-acre site, built in 2021, according to Carter Exchange's property materials. An IXD receives bulk vendor freight and sorts it to Amazon's downstream fulfillment network rather than delivering to households.
Who is the tenant, and who stands behind the rent?
Carter Exchange reports the property is 100% triple-net leased to Amazon.com Services, LLC, with the lease guaranteed by Amazon.com, Inc. Under a triple-net structure the tenant pays property taxes, insurance and maintenance. The specific lease term and expiration date are not disclosed in the public materials reviewed here — the PPM is the place to confirm them.
Is there debt on the property?
Carter Exchange's property supplement says the project will be leveraged, but the materials reviewed do not state a loan amount, lender, or loan-to-value. Leverage matters to a 1031 exchanger because replacement-property debt counts toward matching the debt relieved on the sale of the relinquished property.
How much is the minimum investment?
The Form D reports a $25,000 minimum outside investment. Because the Trust is offered under Rule 506(c), only accredited investors whose status has been verified may purchase — an income, net worth, or professional-credential test defined by SEC rule.
Is this Trust still open?
Top1031 lists it in the raising tier, and Carter Exchange's 2024 platform overview described it as an active offering. The most recent SEC filing on record is the Form D amendment dated November 28, 2023, so no filing after that date confirms current availability. Ask the sponsor or your representative directly.
Can this Trust roll into a REIT later?
No 721/UPREIT exit is indicated — that is the structure where a DST's property is later contributed to a REIT's operating partnership in exchange for units. On the record here, the anticipated path is a sale of the property rather than a REIT conversion.
Chapter 9Carter Exchange Overview 2024 (PDF)Lists CX Midwest Industrial Logistics, DST as a Fort Wayne, IN industrial property. Amazon's new Fort Wayne delivery station is openWANE 15 reported the opening of Amazon's new Fort Wayne delivery station, providing context on the underlying Amazon facility.