Jet Aviation FBO Complex, AVE Aviation & Commerce Center
Aviation infrastructure property in Miami (Opa-Locka), FL · sponsored by Four Springs (FSX)
Jet Aviation FBO Complex, AVE Aviation & Commerce Center is a DST sponsored by Four Springs (FSX) that owns an aviation infrastructure property in Miami (Opa-Locka), FL. Its latest Form D, filed Jul 24, 2025, lists a $22.3 million offering with a $25,000 minimum.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $22,350,000Equity offered, per the Form D
- Sold so far
- Form D, Jul 24, 2025; the % is our arithmetic7.4%
- Investors reported
- Form D, Jul 24, 20253
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,117,500 · 5.0% of offering
- Financing
- All cash. This offering reports no mortgage 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 →
Can I still invest?
No new interests: the offering is reported fully subscribed.
By Top1031’s calculation from the latest Form D, filed Jul 24, 2025, 7.4% of the offering had sold.
Other Four Springs (FSX) offerings on record
- FSX Industrial 36 DSTAppling, GA · $100,000 minimum · $58,930,000 offeringActive offering · latest Form D Sep 8, 2026
- FSX Industrial 35Tifton, GA · $100,000 minimum · $35,740,000 offeringActive offering · latest Form D Jul 30, 2026
Availability changes without a filing. The sponsor or a registered representative can confirm what is open.
Looking for an offering like this one? A licensed 1031 specialist from our affiliated partner can talk through what is on record.
Ask a 1031 specialist about this recordFree. About: Jet Aviation FBO Complex, AVE Aviation & Commerce Center. Top1031 is not a broker-dealer.No photo on record.
What does the Trust own?
The complex sits inside the AVE Aviation & Commerce Center at Miami-Opa Locka Executive Airport, where Miami-Dade County holds title to the land and the Trust holds the assigned ground-lease interest above it. 2 Offering documents put the July 1, 2025 purchase of the ground-lease and sublease interests from AVE Airside, LLC at a $17.5 million real-estate price. 2 The tenant developed the improvements. Aviation Week reported the FBO's official opening on July 23, 2026. 4
- Property address
- 14225 Aviation Drive, Miami (Opa-Locka), FL
- Property size
- 175k SF facility on 27.4 acres
Tenant and lease terms are not in the SEC filings or cited sources.
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
The memorandum's acquisition capitalization schedule lists no property mortgage principal and no mortgage-loan proceeds; the borrowing sits a level above, where the depositor funded its cash contribution partly with bridge financing. 2 The memorandum warns that those financing parties' remedies could reach the Trust, including requiring discounted sales of Trust interests. 2
Debt
- Financing
- All cash. This offering reports no mortgage debt.
- May convert to a REIT (721)
Costs and terms from the Form D
- Selling commissions
- $1,117,500 · 5.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Third Seven Capital LLC · CRD 160209
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jul 11, 2025
- 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.
What are the deal terms?
From Four Springs (FSX)’s offering documents (Jul 2025).
Your exit
- Can the sponsor's affiliate buy investors out?
- No
Rent and the bills
- Who pays rent to the trust?
- The property's tenants directly
- Who pays for roof and structural repairs?
- The tenant or master tenant
- Who pays if taxes or insurance go up?
- The tenant or master tenant
- Was the property bought from a sponsor affiliate?
- No
Your rights
- Can investors remove the manager?
- No
- How are disputes with the sponsor resolved?
- Mandatory arbitration
Who's behind the Trust?
Four Springs TEN31 Xchange, LLC — FSXchange — is the sponsor named on the Trust's Form D. 1 AltsWire reported on November 2, 2025 that the firm announced this offering fully subscribed and previewed more than $400 million of 2026 DST programs in single-tenant industrial, medical and infrastructure property. 3 The Naples Press reported on August 7, 2026 that FSXchange had proposed acquiring 13 acres and making 43,000 square feet of aviation improvements at a Collier County, Florida airport.
- Sponsor
- Offerings on record
What does the SEC record show?
A Form D is the brief notice an issuer files after selling securities privately instead of registering them, and Rule 506(c) lets an issuer advertise publicly while limiting buyers to verified accredited investors. The notice reported a first sale on July 11, 2025. 1 No amendment has updated that early sales snapshot.
- Legal Trust name
- Aviation Infrastructure, DST
- SEC CIK
- 2077351
- First Form D
- Jul 24, 2025
- Latest Form D
- Jul 24, 2025
- 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 | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $22,350,000 | $1,670,207 | 3 | 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
- Can I still invest in Jet Aviation FBO Complex, AVE Aviation & Commerce Center?
- No new interests: Jet Aviation FBO Complex, AVE Aviation & Commerce Center is reported fully subscribed. Top1031 lists it as recently fully subscribed and does not count it as an active offering.
- Does Jet Aviation FBO Complex, AVE Aviation & Commerce Center have a 721 UPREIT exit?
- The record lists a possible 721 exit for Jet Aviation FBO Complex, AVE Aviation & Commerce Center. It is an option, not a completed transaction; the offering documents set whether and when it can happen. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
- How a DST-to-721 UPREIT exit works
- What does this Trust actually own — the land or the buildings?
- A leasehold position, not fee title. Four Springs' offering documents state that Miami-Dade County holds title to the land and that the Trust holds the assigned ground-lease interest while serving as sublandlord under the Jet Aviation lease. The memorandum puts the ground-lease term's end at April 30, 2084. How the improvements are treated when the ground lease ends, and whose consent a sale or refinancing requires, are set out in the offering documents.
- Who is the tenant, and how long is the lease really?
- Jet Aviation of America, Inc., a General Dynamics subsidiary, is the tenant under a net sublease with the Trust as sublandlord. Four Springs' memorandum dates rent commencement to March 1, 2022 and the initial term's expiration to March 31, 2063 — roughly 41 years — with successive renewal options that cannot run past the ground lease's April 30, 2084 expiration. Marketing shorthand describing a lease 'to 2084' therefore compresses an initial term plus options into one date.
- Does the Trust carry mortgage debt?
- Four Springs' memorandum shows no property mortgage principal and no mortgage-loan proceeds in the acquisition capitalization schedule. Separately, it discloses that the depositor financed part of its cash contribution to the Trust with bridge financing, and that while repayment is the depositor's responsibility, the financing parties may have remedies affecting the Trust — including requiring discounted sales of Trust interests. Whether any permanent property-level financing was placed later, and how any debt would be treated by an exchanger replacing mortgage boot, has to be confirmed in the offering documents and with the sponsor.
- What rent does the lease call for?
- Four Springs' memorandum includes a Jet Aviation lease schedule listing $1.2 million of annual base rent through October 31, 2026, with scheduled step-ups in later periods set out in the same schedule. Because the Trust is sublandlord above a county ground lease, ground rent obligations and the net-lease allocation of operating costs, taxes and insurance also sit in the lease documents; the offering documents are the place to read both schedules in full.
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.