BB&T Financial Center
Office in Winston-Salem, NC — sponsored by Inland Private Capital
Show sources (9)Hide sources (9)
These links support the historical public record; individual details may come from different sources.
- Private Placement Memorandum / offering summary, Inland Private Capital via 1031 Gateway ↗
- Inland Group / Inland Private Capital news release ↗
- Inland Private Capital, Sun Belt Multifamily Portfolio III PPM, p.104 ↗
- U.S. Securities and Exchange Commission, Form D/A ↗
- Triad Business Journal ↗
- 1031gateway.com ↗
- inlandgroup.com ↗
- rebusinessonline.com ↗
- top1031.com ↗
What is this, in one paragraph?
Winston-Salem Office DST was an Inland Private Capital Delaware Statutory Trust — a structure that lets 1031 exchangers hold fractional interests in real estate — owning the BB&T Financial Center office tower at 200 West Second Street in Winston-Salem, North Carolina.1 It is Historical, meaning closed to new investors: the 2012 offering was fully subscribed, and Inland announced the building's sale on January 6, 2015.2
Minimum investment
$25k
Offering size
$24.5M
How much has sold
100.0%
Financing
Not stated. The filings for this offering do not say whether it carries mortgage 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?
The BB&T Financial Center is a Class A office tower on a 1.22-acre parcel at 200 West Second Street in downtown Winston-Salem, served by a 656-space subterranean garage.1 Inland Private Capital states it purchased the building in January 2012 and held it for one of its 1031 exchange programs.2 The Form D filings on record do not state an acquisition price or seller.
- Reported location
- Winston-Salem, NC
- Property size
- 239,854 rentable sq ft; 19 stories (offering memorandum)
Who is the tenant, and what's the lease?
BB&T anchored the tower under a lease running through March 31, 2023 with three five-year renewal options, alongside the Piedmont Club and Chicago Title as smaller tenants.1 The named landlord under all three leases was Winston-Salem LeaseCo, L.L.C., an entity wholly owned by IPC Corp. — a master-lease layer sitting between the Trust and its tenants.1
How did it end?
Sold after 2.9 years; sponsor reported 1.21x
Inland Private Capital Corporation announced on January 6, 2015 the sale of the BB&T headquarters, a 240,000-sq-ft, 20-story office tower at 200 West Second Street in Winston-Salem, NC (the DST's sole property per the PPM), for approximately $25 million in aggregate net proceeds, resulting in a 120.53% total return to investors, according to an inlandgroup.com press release [1][2].
Offering memorandum describes the property as the BB&T Financial Center, a Class A 19-story office tower with 239,854 rentable sq ft on a 1.22-acre parcel and a 656-space subterranean garage. 2015 sale coverage describes it as a 240,000-square-foot, 20-story tower with approximately $25 million in proceeds; offering and sale descriptions differ on story/SF rounding. Full-cycle report indicates the sale closed the DST.
239,854 rentable sq ft; 19 stories (offering memorandum)1.21×Equity multiple · as reported by the sponsor
7.5%Annualized return · as reported by the sponsor
$25,000,000Sale price · as reported by the sponsor
Supporting evidence
Counted on Inland Private Capital’s Record Card as: Sold, result reported by the sponsor (1.21×, as reported by the sponsor) Document
How is it financed, and what does it pay?
This was a leveraged Trust: the property carried a $15,360,750 first mortgage from Ladder Capital Finance I LLC, which the offering memorandum describes as non-recourse to investors — the lender's remedy was the property, not investors personally.1
Who's behind it?
Inland Private Capital is the private-placement arm of the Inland real estate group and a long-running sponsor of 1031 exchange DST programs. SEC filings for this Trust name Inland Private Capital Corporation, Winston-Salem Office, L.L.C. and Winston-Salem Office Exchange, L.L.C. as promoters of a Delaware entity organized in 2011.4 Inland announced on January 6, 2015 that it had sold the building for aggregate net proceeds of approximately $25 million.2 The sponsor table records December 19, 2014 as the sale date and a 120.53% total return, as reported by the sponsor.3
- Sponsor
- Inland Private Capital
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 79 total offerings from Inland Private Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust filed an initial Form D — the short notice an issuer files with the SEC after its first sale of securities — then successive amendments through 2012 that stepped the reported sales figure up to the full offering amount. It was offered under Rule 506(b), the private route that bars general advertising, to accredited investors.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- Winston-Salem Office DST
- Filings on record
- 8
- How it may be offered
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- 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 BB&T Financial Center?
BB&T Financial Center is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for BB&T Financial 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.
Can I still invest in this DST?
No. Winston-Salem Office DST is Historical — closed to new investors. Its 2012 Rule 506(b) offering was fully subscribed, and Inland Private Capital announced on January 6, 2015 that the property had been sold.[2] Any Trust that has sold its sole asset no longer has interests available for a 1031 exchange.
What outcome was reported when the Trust went full cycle?
Inland’s sponsor table records a December 19, 2014 sale and a 120.53% total return, as reported by the sponsor.[3] Its January 6, 2015 announcement separately describes approximately $25 million in aggregate net proceeds.[2] Net proceeds and investor total return are different measures.
Was the property the Trust's only asset?
Yes. The cited offering memorandum identifies the BB&T Financial Center as the Trust’s property and identifies no other property.[1] The sponsor table records a December 19, 2014 sale.[3]
Was the Trust leveraged or all-cash?
Leveraged. The offering memorandum describes a first mortgage from Ladder Capital Finance I LLC secured by the property and non-recourse to investors, meaning investors were not personally liable for repayment. Loan terms, extensions, and prepayment penalties should be read in the PPM itself.
What has happened to the building since the sale?
Triad Business Journal reported on August 11, 2026 that the former BB&T Financial Center at 200 W. 2nd St. was headed to a September auction with bidding starting at $300,000, and described the building as empty since 2021. That reporting does not name Winston-Salem Office DST and concerns the property long after the December 2014 sale.
Did this Trust convert into a REIT through a 721 or UPREIT exit?
No. The record shows no REIT conversion; a 721/UPREIT exit is the alternative structure in which DST investors contribute their real estate interest to a REIT's operating partnership for REIT units instead of receiving sale proceeds. Here the exit was reported as a cash sale.
Chapter 9Inland Private Capital Corporation Completes Sale of BB&T Headquarters in North CarolinaThe sponsor release announced the sale of the BB&T headquarters, a 240,000-square-foot, 20-story Winston-Salem office tower, for aggregate net proceeds of approximately $25 million. Winston-Salem Office DST went full cycle when Inland Private Capital sold the BB&T headquarters towerTop1031 coverage of this eventCommercial real-estate coverage reports Inland sold the approximately 240,000-square-foot, 20-story BB&T headquarters office tower for about $25 million.