CX Texas Industrial II
Industrial in Forney, TX — sponsored by Carter Exchange
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
CX Texas Industrial II, DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold fractional interests in real estate — owning one property: a mission-critical Atmos Energy regional service center in Forney, Texas, in the Dallas metro. Carter Exchange acquired it for $12.6 million in January 2024 and offers interests to accredited investors as a zero-coupon private placement.
Minimum investment
$25k
Offering size
$3.5M
How much has sold
84.0%
Financing
Zero coupon. Cash flow from the property goes to servicing the debt.
Sponsor-reported, from SEC filings and cited 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?
Carter Exchange acquired the property for $12.6 million in January 2024 on behalf of the Trust: a purpose-built regional service center for Atmos Energy in Forney, in the Dallas metro area.2 The sponsor's project page describes two special-use buildings holding office, warehouse and mezzanine space.3 Its January 2024 announcement instead cited roughly 18,000 square feet, and no street address appears in the Form D or that announcement.2
- Reported location
- Forney, TX
- Property size
- 17,564 SF (8,948 SF office + 7,512 SF industrial logistics + 1,104 SF mezzanine) on a 9.73-acre site; built 2023
Who is the tenant, and what's the lease?
Atmos Energy occupies the facility under what Carter Exchange described as a 20-year absolute net lease, meaning the tenant rather than the Trust carries taxes, insurance and maintenance, and the building serves the tenant's regional operating functions.2
How did it end?
Still operating
No full-cycle or disposition found; Carter Exchange continues to list the Atmos Energy regional service-center facility at 11655 County Road 212, Forney, TX (acquired Jan 2024 for $12.6M on behalf of CX Texas Industrial II, DST) in its current portfolio, and no 2025-2026 sale or disposition coverage was identified.
Mission-critical Atmos Energy regional service center in Forney, TX (Dallas MSA), net-leased triple-net industrial. Acquired Jan 23, 2024 by Carter Funds for $12.6M. SEC Form D filing window Jan 16 – Sep 24, 2024.
17,564 SF (8,948 SF office + 7,512 SF industrial logistics + 1,104 SF mezzanine) on a 9.73-acre site; built 2023Supporting evidence
Counted on Carter Exchange’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
Carter Exchange launched this as a zero-coupon placement — a loan structure that generally requires no current cash debt service, with accrued interest and principal settled at maturity.2 Neither the Form D nor the sponsor's acquisition announcement names a lender or states the loan terms.
- Financing
- Zero coupon. Cash flow from the property goes to servicing the debt.
Who's behind it?
Carter Exchange is the 1031 exchange platform behind this Trust. The Form D names CX Texas Industrial II Manager, LLC as manager, CX Texas Industrial II Investments, LLC as depositor, and Carter Exchange Fund Management Company, LLC as sponsor.1 Carter Exchange said the offering launched on January 9, 2024 and announced the Forney acquisition on January 22, 2024.2 No later sponsor update on this Trust was located.
- Sponsor
- Carter Exchange
- 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 an original Form D at launch and one later amendment updating the raise; that amendment reported a first sale on January 24, 2024.4 The offering relies on the SEC exemption that permits public advertising so long as every buyer's accredited status is verified.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- CX Texas Industrial II, DST
- 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 Texas Industrial II?
Top1031 lists CX Texas Industrial II in the Historical cohort because its latest filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for CX Texas Industrial II?
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 property: an Atmos Energy regional service center in Forney, Texas, in the Dallas metropolitan area. Carter Exchange acquired it for $12.6 million in January 2024. The sponsor's project page describes two special-use buildings totaling 17,564 square feet — about 8,948 square feet of office, 7,512 square feet of warehouse and 1,104 square feet of mezzanine — on a 9.73-acre site, built in 2023.
Who is the tenant and what kind of lease is in place?
Atmos Energy. Carter Exchange described the lease as a 20-year absolute net lease, a structure in which the tenant is responsible for taxes, insurance and maintenance rather than the landlord. No occupancy percentage or rent schedule is stated in the SEC filings or the sponsor's own project page reviewed here.
What does "zero coupon" mean for this offering?
Carter Exchange marketed the placement as zero coupon. A zero-coupon loan generally requires no current cash debt-service payments during its term, with accrued interest and principal repaid at maturity. The public record reviewed here does not name the lender, state the loan amount, or describe distribution terms to investors; those would be set out in the private placement memorandum (PPM), the offering's governing disclosure document.
Is the offering still open?
The most recent issuer filing located is the Form D/A of September 24, 2024, which still reported an unsold balance. No later amendment, sponsor confirmation of full subscription, or disposition announcement was located as of research on September 3, 2026, so current availability is not established by the public record.
What is the minimum investment, and who can invest?
The Form D reports a $25,000 minimum investment. Because the Trust is offered under Rule 506(c), the sponsor may advertise publicly but every purchaser must be an accredited investor whose status is verified — generally meaning income or net-worth thresholds set by the SEC.
Can this Trust roll into a REIT at the end?
The record shows no 721/UPREIT exit — the arrangement in which DST interests are contributed to a REIT's operating partnership for REIT units rather than cash. This Trust is not flagged as convertible to a REIT in the data on file.
Chapter 9Carter Exchange Acquires Absolute Net-Leased Industrial Property in Texas for DST OfferingPress release announcing Carter Exchange's $12.6 million acquisition on behalf of CX Texas Industrial II, DST of a 9.73-acre Atmos Energy Corporation regional service center in Forney, Texas, leased under a 20-year absolute net lease, with the DST launching as a 506(c) zero-coupon private placement on January 9, 2024 seeking to raise $3.4 million.