Gander Mountain - College Station, TX
Freestanding retail in College Station, TX — sponsored by Inland Private Capital
Files with the SEC as College Station Retail DST
Minimum investment
$25k
Offering size
$11.6M
How much has sold
100.0%
Asset type
Freestanding retail
Location
College Station, TX
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
College Station Retail DST is a Delaware statutory trust — a passive co-ownership vehicle that qualifies for 1031 exchanges — sponsored by Inland Private Capital. It raised equity in 2012 to hold one freestanding retail building in College Station, Texas, then leased to Gander Mountain.1 The Trust is closed to new investors, and the building was sold to At Home in a transaction finalized May 29, 2018.2
Show sources (9)Hide sources (9)
These links support the historical public record; individual details may come from different 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 Trust's only asset was a one-story freestanding retail store at 2301 Earl Rudder Freeway South in College Station, Brazos County, Texas, occupied by Gander Mountain since 2007.1 Inland Private Capital brought it to market as a single-property Trust in 2012. Building area is not settled in the public record: coverage of the 2018 sale described the store as 76,632 square feet, larger than the offering memorandum figure.2 No purchase price appears in the public record.
- Reported location
- College Station, TX
- Property size
- 67,753 square feet of gross rentable area; 8.642 acres
Who is the tenant, and what's the lease?
Gander Mountain Company, a Minnesota corporation, was the sole tenant and occupied the entire building when the Trust was offered; the lease ran from May 2007 to May 31, 2022, with four five-year renewal options.1 After Gander Mountain's bankruptcy, KBTX reported the College Station store among four Texas locations announced to stay open under Camping World.3
How did it end?
Sold after 1.6 years; sponsor reported 119% total return
College Station Retail DST's sole asset, the 76,632 SF single-tenant building at 2301 Earl Rudder Fwy South in College Station, TX (former Gander Mountain, lease expiry May 31, 2022), was sold and transferred to At Home in a transaction finalized May 29, 2018, though no Inland full-cycle press release naming this specific DST was located.
The offering memorandum identifies Gander Mountain Company as tenant; later property coverage reports the former building was sold to At Home in May 2018.
67,753 square feet of gross rentable area; 8.642 acres119.1%Total return · as reported by the sponsor
12.1%Annualized return · as reported by the sponsor
$12,000,000Sale price · as reported by the sponsor
Supporting evidence
How is it financed, and what does it pay?
Inland Private Capital described the offering as unleveraged, with investors expected to own the property free and clear of mortgage debt once all equity was collected.1 A $6,113,600 bridge loan from Bank of the Ozarks, secured by a deed of trust and maturing February 28, 2013, temporarily funded the acquisition.1
Who's behind it?
The offering memorandum identifies the Trust as a Delaware statutory trust affiliated with Inland Private Capital Corporation, its sponsor.1 Inland Private Capital is among the longer-running sponsors of 1031 exchange DST programs and is still bringing new Trusts to market today. This 2012 program was a single-tenant, big-box retail deal; Top1031 reports the Trust owned one property and that the sale of that lone asset was its exit.4
- Sponsor
- Inland Private Capital
- Legal Trust name
- College Station Retail DST
- 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 filing record is short: an initial Form D — the brief SEC notice for an exempt private offering — followed by amendments tracking the raise to completion. It was offered under Rule 506(b), which bars general advertising and limits purchasers to accredited investors. An amendment also cites Rule 504(b)(1)(i) and a first sale on April 11, 2012.5
- 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.
- Filings on record
- 7
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- 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 Gander Mountain - College Station, TX?
Top1031 lists Gander Mountain - College Station, TX as historical. It is no longer raising money.
Where does Top1031 get the data for Gander Mountain - College Station, TX?
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 College Station Retail DST?
No. The Trust is Historical — closed to new investors. Its final Form D amendment was filed August 23, 2012, and the property it held was sold in a transaction finalized May 29, 2018, as reported by Oldham Goodwin and KBTX.
What happened to the building?
KBTX reported that the former Gander Mountain building at 2301 Earl Rudder Freeway South was sold to home-and-décor retailer At Home in a transaction finalized May 29, 2018, with Oldham Goodwin representing the seller and NewQuest Properties the buyer. KBTX reported the At Home store opened October 26, 2018.
Was there a reported outcome for investors?
Top1031 reports the Trust owned a single property and that the 2018 sale of that asset was its exit. No sale price was reported in the sources reviewed, and no per-investor result has been published in them. In short: no financial outcome reported yet.
Was this offering leveraged?
The offering memorandum describes it as "No Leverage," with investors expected to own the property free and clear once all offering equity was collected. Separately, it discloses a $6,113,600 bridge loan from Bank of the Ozarks with a one-year term maturing February 28, 2013, prepayable without penalty.
What happened to Gander Mountain as tenant?
Gander Mountain Company was the sole tenant at the offering, under a lease running to May 31, 2022. KBTX reported in May 2017 that, following Gander Mountain's bankruptcy, the College Station store was among four Texas locations announced to remain open under Camping World's planned asset purchase. The building later became an At Home.
Does the Trust still own the College Station property?
No. At Home's store page still lists 2301 Earl Rudder Freeway, but that is evidence about the former asset, not about the Trust's ownership. Top1031 reports the property was sold on May 29, 2018 and that the sale was the Trust's exit.
Chapter 9Oldham Goodwin Represented the Seller in the Disposition of the Former Gander Mountain BuildingOldham Goodwin reported that the former Gander Mountain retail building at 2301 Earl Rudder Freeway S. was sold to home-and-décor retailer At Home in a transaction finalized May 29, 2018.