Top1031

Zero Coupon AZ Fulfillment DST

in Tucson, AZ · sponsored by Inland Private Capital

HistoricalLast Form D filed Mar 4, 2021 (opens in a new tab)

Zero Coupon AZ Fulfillment DST, sponsored by Inland Private Capital, filed its first Form D with the SEC on Jul 29, 2020 for a $35.3 million offering. Its last Form D was filed Mar 4, 2021.

How it ended

No outcome recorded · under 7 years

Last Form D filed Mar 4, 2021.

Inland Private Capital has 8 active offerings on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$35,306,051
Equity offered, per the Form D
Sold
66.7%
Form D, Mar 4, 2021; the % is our arithmetic
Investors reported
174
Form D, Mar 4, 2021
Selling commissions
$1,765,303 · 5.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Zero coupon. Cash flow from the property goes to servicing the debt.
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 →

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Ask a 1031 specialist about this recordFree. About: Zero Coupon AZ Fulfillment DST. Top1031 is not a broker-dealer.

What did Zero Coupon AZ Fulfillment DST own?

The asset is a single industrial fulfillment building in Tucson, Arizona, described by intermediary Real Estate Transition Solutions as larger than 850,000 square feet. 1 Zero Coupon AZ Fulfillment DST itself is a Delaware business trust organized in 2020, a structure that lets each investor hold a fractional beneficial interest in the real estate for 1031 exchange purposes. 2

Reported location
Tucson, AZ

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

In a zero coupon structure, rent from the property is directed to the loan rather than paid out as current cash, and the trust carries more debt than an all-cash offering. A listing by Real Estate Transition Solutions describes a 20-year fixed-rate loan. 1

Debt

Financing
Zero coupon. Cash flow from the property goes to servicing the debt.

Costs and terms from the Form D

Selling commissions
$1,765,303 · 5.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$11,018,205 · 31.2% of offering
Form D Item 16
· The filing’s note: “Estimate of certain fees, including the Dealer Fee, Acquisition Fee, Placement Agent Fee, offering and organizational expenses, and Reimbursement of Acquisition and Financing Costs that may accrue to one or more related persons.”
Broker-dealers named in the Form D
36 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jul 10, 2020
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. The issuer marked these amounts as an estimate.

What does the SEC record show?

The offering was noticed to the SEC on a Form D, the short filing an issuer makes for a private, exempt sale, and it reported July 10, 2020 as the date of first sale. 2 Three amendments followed. Under Rule 506(b), the interests may not be publicly advertised.

Legal Trust name
Zero Coupon AZ Fulfillment DST
SEC CIK
1819163
First Form D
Jul 29, 2020
Latest Form D
Mar 4, 2021
Filings on record
4
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$35,306,051
$23,573,271+$21,703,760
174+165
EDGAR
Form D/A$35,306,051
$1,869,511+$922,000
9+6
EDGAR
Form D/A$35,306,051
$947,511+$926,411
3+2
EDGAR
Form D$35,306,051
$21,100
1
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 Zero Coupon AZ Fulfillment DST?
Zero Coupon AZ Fulfillment DST is a Historical offering. Last Form D filed Mar 4, 2021.
What does Zero Coupon AZ Fulfillment DST own?
It owns an industrial fulfillment facility in Tucson, Arizona. A listing by the intermediary Real Estate Transition Solutions describes the building as exceeding 850,000 square feet. The street address and parcel are not set out in the trust's SEC filings.
Who is the tenant?
Real Estate Transition Solutions' listing for this trust identifies Amazon.com as the tenant and describes the lease as triple-net. Under a triple-net lease, the tenant pays property taxes, insurance and maintenance in addition to rent, which leaves fewer operating costs with the landlord.
What does a zero coupon structure mean for an investor?
A zero coupon DST applies the property's rent to the loan instead of paying monthly cash to investors. The trade-off is higher debt and little or no current income, with the investor's return tied to the property's value and the loan balance at the end of the hold. Real Estate Transition Solutions' listing describes the financing as a 20-year fixed-rate loan.
How large is the offering?
The Form D reports a $35,306,051 offering of beneficial interests in the trust. Real Estate Transition Solutions' listing gives a total offering size of $197,546,092, a figure that includes the debt on the property as well as investor equity.
Who sponsors the trust?
Inland Private Capital sponsors it. The first Form D names Inland Private Capital Corporation as the sole member of the trust's signatory trustee, the entity that signs and acts for the trust.
When did the offering begin?
The trust reported July 10, 2020 as the date of its first sale, and the first Form D was filed with the SEC on July 29, 2020. Three amendments followed, the last of them on March 4, 2021.

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.