Jet Aviation FBO Complex, AVE Aviation & Commerce Center
Aviation infrastructure / single-tenant net lease FBO (leasehold) property in Miami (Opa-Locka), FL — sponsored by Four Springs (FSX)
$22.35M; 100% leased Jet Aviation (General Dynamics sub); 41-yr credit lease to 2084; 12.5% bumps/5yr; leveraged leasehold
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These links support the public record as a whole; individual details may come from different sources.
- U.S. Securities and Exchange Commission — Form D, Aviation Infrastructure, DST ↗
- Four Springs TEN31 Xchange — Aviation Infrastructure, DST Private Placement Memorandum ↗
- Four Springs TEN31 Xchange ↗
- AltsWire ↗
- AINonline (Aviation International News) ↗
- Jet Aviation ↗
- GlobalAir.com ↗
- The Naples Press ↗
- ten31xchange.com ↗
- altswire.com ↗
- exchange-x.com ↗
What is this, in one paragraph?
Aviation Infrastructure, DST is a Delaware statutory trust — fractional passive ownership that can serve as 1031 replacement property.1 It holds a controlled ground leasehold and owns the improvements at the Jet Aviation fixed-base operator (FBO) complex at Miami-Opa Locka Executive Airport in Florida.2 Four Springs TEN31 Xchange announced the acquisition on July 7, 2025.3 AltsWire reported the $22.35 million offering fully subscribed on November 2, 2025.4
Minimum investment
$25k
Offering size
$22.4M
How much has sold
7.0%
Financing
Leveraged. This offering reports mortgage debt on the property.
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?
Jet Aviation developed the complex within the AVE Aviation & Commerce Center at Miami-Opa Locka Executive Airport; when Four Springs TEN31 Xchange announced its acquisition of a controlled ground lease interest on July 7, 2025, the facility was under development and planned to include an FBO, hangars, aircraft-maintenance space and a fueling station.3 The Trust holds that leasehold and owns the improvements.2 Jet Aviation held a grand opening on July 23, 2026.5
- Property address
- 14225 Aviation Drive, Miami (Opa-Locka), FL
- Property size
- 175k SF facility on 27.4 acres
Who is the tenant, and what's the lease?
Jet Aviation, a wholly owned subsidiary of General Dynamics, occupies the entire complex under a long-term credit net lease — net meaning the tenant, not the Trust, carries property operating costs.3 Offering data describes roughly a 41-year term running to 2084, with rent stepping up 12.5% every five years.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
7.0% reported sold
- Amount sold
- $1,670,207
- Reported unsold
- $20,679,793
- Investors reported
- 3
- Total offering
- $22,350,000
Not enough filings yet to show a trend.
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How is it financed, and what does it pay?
The Trust borrowed against its leasehold rather than owning it free and clear, so lender claims sit ahead of investors and the loan's security depends on the ground lease staying in place. The reviewed materials do not name the mortgage lender or state the loan amount.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Four Springs TEN31 Xchange, LLC — FSXchange — is the 1031 exchange arm named as sponsor in the Form D.1 On November 2, 2025 AltsWire reported FSXchange had announced this offering fully subscribed and previewed more than $400 million of 2026 DST programs in single-tenant industrial, medical and infrastructure property.4 The Naples Press reported on August 7, 2026 that the firm had proposed acquiring 13 acres and adding 43,000 square feet of aviation improvements at a Collier County, Florida airport.8
- Sponsor
- Four Springs (FSX)
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 10 total offerings from Four Springs (FSX)
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
A Form D is the notice an issuer files when it sells securities privately instead of registering them; it is not SEC review or approval. Only the original notice is on record; no amendment reflects the sponsor's later full-subscription announcement. The exemption permits public advertising but limits buyers to verified accredited investors — people meeting SEC income or net-worth tests.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- Aviation Infrastructure, DST
- Filings on record
- 1
- 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
Is Jet Aviation FBO Complex, AVE Aviation & Commerce Center still raising money?
Sold out: the source record identifies this offering as Fully Subscribed. The sponsor’s SEC filings show the offering raising money within the past 15 months. A filing does not by itself confirm you can still buy in.
Where does Top1031 get the data for Jet Aviation FBO Complex, AVE Aviation & Commerce Center?
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 — the land or the buildings?
A leasehold plus the improvements. The offering materials describe the Trust as holding a controlled ground leasehold in the land and owning the improvements, including the FBO facility, rather than holding fee title to the ground. That means the Trust's position ultimately rests on the ground lease. How the improvements are treated at the end of the ground lease term, and whose consent a sale or refinancing requires, are set out in the private placement memorandum (PPM), the offering's governing disclosure document.
Who is the tenant, and is General Dynamics obligated on the rent?
Four Springs TEN31 Xchange's July 7, 2025 acquisition announcement states the property is fully leased to Jet Aviation, a wholly owned subsidiary of General Dynamics, under a long-term credit net lease. No reviewed public document establishes whether the parent guarantees the subsidiary's rent. Look for guarantee language — or its absence — in the PPM's lease abstract and in the lease itself.
How long does the lease run, and how does rent change?
Offering data describes roughly a 41-year credit net lease extending to 2084, with rent increasing 12.5% every five years. Specific commencement and expiration dates, renewal option mechanics and the exact escalation schedule are governed by the lease as abstracted in the PPM, which is the controlling record.
Is the facility actually built and operating?
Yes. AINonline reported that Jet Aviation held the grand opening of the 27-acre FBO complex at Miami-Opa Locka Executive Airport on July 23, 2026, and Jet Aviation announced on July 24, 2026 that the new FBO was fully operational. GlobalAir.com described an 8,500-square-foot terminal and 40,000 square feet of hangar space, and BlueSky Business Aviation News reported expanded hangar capacity, ramp space and taxiway connections.
Is the offering still open to new investors?
AltsWire reported on November 2, 2025 that FSXchange announced the $22.35 million Aviation Infrastructure DST was fully subscribed. That status is sponsor-reported rather than independently verified. The only SEC filing on record is the Form D dated July 24, 2025, an early snapshot taken weeks after the acquisition announcement, and no amendment on EDGAR reflects the later statement. Current availability has to be confirmed with the sponsor or a selling broker-dealer.
Does the Trust carry debt?
Yes — the offering is described as leveraged, meaning the Trust borrowed against its leasehold rather than paying all cash. The material reviewed does not disclose the lender, loan amount, interest rate or maturity. Those belong to the sources-and-uses table and loan disclosures in the PPM, along with any lender consent rights that could affect a future sale or refinancing.
Chapter 9Jet Aviation Inaugurates FBO At Miami-Opa Locka AirportAviation trade publication reports Jet Aviation held the grand opening of its new 27-acre FBO complex at Miami-Opa Locka Executive Airport on July 23, 2026, the property serving as collateral/leasehold for the Four Springs Aviation Infrastructure DST. Jet Aviation Launches Full Operations at Miami-Opa LockaCoverage of Jet Aviation's new 27-acre FBO facility at Miami-Opa Locka Executive Airport becoming fully operational after an opening ceremony on July 23. FSXchange Fully Subscribes Aviation Infrastructure DST, Announces $400M Pipeline for 2026FSXchange reports the $22.35M Aviation Infrastructure DST is fully subscribed and previews $400M+ of 2026 DST programs in mission-critical single-tenant industrial, medical and infrastructure properties. Four Springs TEN31 Xchange Acquires Premier Aviation Infrastructure Asset at Miami-Opa Locka Executive AirportPress release: Four Springs acquires the Jet Aviation FBO Complex at Opa-Locka Executive Airport; leasehold interest under a long-term credit net lease to Jet Aviation (General Dynamics subsidiary).