Top1031

Farnam Technology Center

Office property in Omaha, NE · sponsored by Inland Private Capital

HistoricalA sale, reported by baker1031.com · last Form D Jan 11, 2011baker1031.com (opens in a new tab)

Farnam Technology Center was a DST sponsored by Inland Private Capital that owned an office property in Omaha, NE (118,612 sq ft). A sale, reported by baker1031.com.

How it ended

No public outcome found

A sale, reported by baker1031.com.

Source: baker1031.com (opens in a new tab)

Inland Private Capital has 8 active offerings on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$12,390,000
Equity offered, per the Form D
Sold
100%
Form D, Jan 11, 2011; the % is our arithmetic
Investors reported
61
Form D, Jan 11, 2011
Selling commissions
$867,300 · 7.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
How it is financed ↓
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.

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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Farnam Technology Center. Top1031 is not a broker-dealer.

What did Farnam Technology Center own?

Farnam Technology Center is a two-building office campus at 10826 and 10842 Farnam Drive in Omaha, Nebraska, bought from Ameritas Life Insurance Corp. for $18 million in a transaction reported on August 2, 2010. 1 Sponsor material says the buildings were constructed in 1986 and received interior renovations and roof replacement between 2008 and 2010. 2 A 383-stall parking garage sits between them. 1

Reported location
Omaha, NE
Property size
118,612 sq ft

How was it financed, and what did it cost to sell?

This Trust used debt rather than buying all-cash: sponsor material describes a $9,000,000 non-recourse loan from Ameritas Life Insurance Corp., the same party that sold the property, non-recourse meaning the lender's remedy on default is the building itself rather than investors personally. 2

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$867,300 · 7.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,134,225 · 9.1% of offering
Form D Item 16
Broker-dealers named in the Form D
20 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Aug 24, 2010
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 does the SEC record show?

Each amendment in the file updated the running sales tally rather than changing the offering's terms. Rule 506(b) means interests were offered privately, without general advertising, to accredited investors — people who meet SEC income or net-worth tests. The issuer reported its first sale on August 24, 2010. 3

Legal Trust name
Omaha Headquarters Venture DST
SEC CIK
1499637
First Form D
Aug 20, 2010
Latest Form D
Jan 11, 2011
Filings on record
7
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$12,390,000
$12,390,000+$118,149
61+1
EDGAR
Form D/A$12,390,000
$12,271,851+$2,995,000
60+8
EDGAR
Form D/A$12,390,000
$9,276,851+$4,838,308
52+25
EDGAR
Form D/A$12,390,000
$4,438,543+$2,012,637
27+9
EDGAR
Form D/A$12,390,000
$2,425,906+$1,518,025
18+10
EDGAR
Form D/A$12,390,000
$907,881+$907,881
8
EDGAR
Form D$12,390,000
$0
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

What happened to Farnam Technology Center?
Farnam Technology Center is a Historical offering. A sale, reported by baker1031.com.
What exactly did investors own?
Beneficial interests in a Delaware Statutory Trust organized in 2010, which held Farnam Technology Center, a two-building office campus at 10826 and 10842 Farnam Drive in Omaha, Nebraska. In a DST, investors hold a fractional beneficial interest that the IRS treats as replacement property for a 1031 exchange.
Who were the tenants?
At acquisition the campus was fully leased to TD Ameritrade Services Company, occupying roughly 70% of the space, and Prime Therapeutics LLC on the remainder. Sponsor material said TD Ameritrade Holding Corporation guaranteed the TD Ameritrade lease and that the Prime lease expired March 31, 2013 with no renewal options.
Does the Trust still own the building?
The public record does not settle it. No issuer filing after January 2011 was located, and no sale has been reported. A CBRE page for the exact address currently lists the property for sale at $11,500,000 and for lease, but a listing is not evidence of a completed sale or of who owns it today.
Was the offering leveraged?
Yes, according to sponsor material, which describes a $9,000,000 non-recourse loan from Ameritas Life Insurance Corp. — the same insurer that sold the property. The Form D filings themselves do not state loan terms, so the offering documents and loan documents are the place to verify amount, rate and maturity.
Did the sponsor plan a REIT conversion?
No 721/UPREIT exit — the route where a DST's property is contributed to a REIT's operating partnership in exchange for units — is recorded for this Trust. Investors should read the offering documents for the exit path the sponsor actually described.

In the news

118,612-SQUARE-FOOT OFFICE BUILDING FETCHES $18 MILLIONChicago-based Omaha Headquarters Venture DST, an affiliate of Inland Real Estate Exchange Corporation, acquired Farnam Tech Center, a 118,612 sq ft two-building office campus at 10826 and 10842 Farnam Drive in Omaha, for $18 million from Ameritas Life Insurance Corp; the asset is anchored by TD Ameritrade (70%) and Prime Therapeutics.
REBusiness Online ↗

Sources

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These links support the record as a whole; individual details may come from different sources.

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.