Keystone 1031 Lansing Industrial
Industrial — sponsored by Keystone 1031
Files with the SEC as Keystone 1031 Lansing Industrial, DST
Minimum investment
$50k
Offering size
$17.9M
How much has sold
None sold yet
Asset type
Industrial
Location
Not stated
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Keystone 1031 Lansing Industrial, DST is a Delaware Statutory Trust — a structure that lets 1031 exchange investors hold fractional title to real estate — holding one build-to-suit distribution facility in Lansing, Michigan leased to FedEx Ground Package System. The Delaware-organized trust filed a single Form D notice on April 21, 2023 to raise equity from accredited investors.1 It is now closed to new investors.
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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 property is a build-to-suit industrial distribution facility in Lansing, Michigan — a building designed and constructed around one occupant's operations rather than for the open market.2 Keystone National Properties announced on February 28, 2023 that it had acquired the FedEx Ground facility for $24 million for this offering.3 Independent reporting places the building near the I-69 and I-496 corridors.2
- Property size
- ~147,000 SF
Who is the tenant, and what's the lease?
The tenant is FedEx Ground Package System, the parcel-delivery arm of FedEx. Keystone reported that FedEx Ground signed a new 10-year lease in November 2022 with two five-year renewal options.2 With a single occupant, the Trust's rent depends entirely on that one tenant honoring and renewing its lease.
How did it end?
No ending on record
No public disposition or full-cycle announcement for the Keystone 1031 Lansing Industrial, DST (CIK 1965600) was found on AltsWire, KNPRE press releases, PR Newswire, or EDGAR (only the original April 2023 Form D appears); the $24M FedEx Ground distribution facility at 2290 S Canal Rd, Lansing, MI acquired Feb 2023 has no recorded sale, and its removal from LoopNet listings is consistent with the trust still holding it within its typical 5–10-year DST hold period.
Form D filed April 21, 2023. Sponsor: Keystone 1031 LLC, 350 Jericho Turnpike Suite 302, Jericho NY 11753. $17,950,000 equity raise. Asset: industrial distribution facility in Lansing, MI; build-to-suit, ~147,000 SF. FedEx Ground Package System 10-year lease. Loan: 40% LTV, 10-year interest-only, non-recourse. Public articles do not publish the specific street address.
~147,000 SFSupporting evidence
How is it financed, and what does it pay?
This Trust is leveraged rather than all-cash: it carries non-recourse mortgage debt, meaning the lender's remedy on a default runs to the property itself, not to investors' other assets. The loan is interest-only, so principal is not paid down over the term and the full balance comes due at maturity.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Keystone 1031 is the Delaware Statutory Trust program of Keystone National Properties, a New York alternative real estate investment firm. The trust's principal business address is 350 Jericho Turnpike, Suite 302, Jericho, New York.4 Michael Packman signed the Form D as chief executive and manager of the sponsor.4 Keystone is a smaller, boutique presence in the 1031 DST market compared with the national sponsors that file dozens of trusts.
- Sponsor
- Keystone 1031
- Legal Trust name
- Keystone 1031 Lansing Industrial, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 0 active / 2 total offerings from Keystone 1031
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
A single Form D notice is the entire filing history here — the sponsor never filed an amendment to update the raise, which is why the SEC record captures only one moment in time. The Trust was offered under Rule 506(c), the exemption that permits public advertising of a private placement so long as every purchaser's accredited status is verified.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- 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 Keystone 1031 Lansing Industrial?
Top1031 lists Keystone 1031 Lansing Industrial as historical. It is no longer raising money.
Where does Top1031 get the data for Keystone 1031 Lansing Industrial?
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.
Is this Trust still accepting new investment?
No. Keystone 1031 Lansing Industrial, DST is Historical — closed to new investors. Keystone 1031 filed one Form D notice on April 21, 2023 and never amended it. An investor with a live 45-day identification clock would need to look at Trusts that are currently raising.
Who is the tenant, and what are the lease terms?
FedEx Ground Package System, FedEx's ground parcel unit, occupies the building. Keystone National Properties reported that FedEx Ground signed a new 10-year lease in November 2022, with two five-year renewal options. Because there is only one tenant in one building, the Trust's income is fully concentrated in that lease.
Has any outcome — a sale, refinancing, or full cycle — been reported?
No outcome reported yet. As of August 30, 2026, research located no primary public record showing a disposition, later amendment, foreclosure, receivership, enforcement action, or completed full-cycle event for this Trust. The only filing on record remains the April 2023 Form D.
What is the March 20, 2025 investor alert about this Trust?
The White Law Group, a securities law firm, published an investor alert page referencing this Trust's April 21, 2023 Form D and its sales-commission level. The Form D itself reports sales commissions of $1,436,000. A law-firm investor alert is a solicitation and allegation page, not a regulatory finding; no enforcement action or court outcome for this Trust appears in the public record reviewed as of August 30, 2026.
What does Rule 506(c) mean for an investor here?
Rule 506(c) is the private-placement exemption that lets a sponsor advertise an offering publicly, but requires it to take reasonable steps to verify that every buyer is an accredited investor — typically by reviewing tax returns, brokerage statements, or a letter from a CPA or attorney. A 506(b) offering, by contrast, cannot be advertised but permits self-certification.
Why does 'build-to-suit' matter for an industrial DST?
A build-to-suit facility was designed and constructed around one occupant's specific operating needs rather than for general-purpose leasing. That can make the building well matched to its tenant while the lease runs, and can narrow the pool of replacement users if that tenant later leaves. Details of the improvements and any re-tenanting assumptions would be described in the PPM, the private placement memorandum that governs the offering.
Chapter 9Keystone 1031 Lansing Industrial DST: Investor AlertSecurities law firm publishes investor alert on Keystone 1031 Lansing Industrial DST, noting Form D filed April 21, 2023 seeking approximately $17.95 million and sales commissions exceeding 9%. KNPRE Acquires $24 Million Distribution Facility for DST OfferingKNPRE acquired a $24 million distribution facility in Lansing, Michigan for Keystone 1031 Lansing Industrial DST, with FedEx Ground Package System signing a new 10-year lease; the facility is a build-to-suit with access to I-69/I-496.