GoldCoast Logistics Headquarters
Industrial property in Elgin, IL · sponsored by Kingsbarn Realty Capital
GoldCoast Logistics Headquarters was a DST sponsored by Kingsbarn Realty Capital that owned an industrial property in Elgin, IL (61,888 sq ft). Its last Form D was filed Nov 13, 2023.
How it ended
No outcome recorded · under 7 years
Last Form D filed Nov 13, 2023.
Kingsbarn Realty Capital has 10 active offerings on record →
Key facts
- Minimum investment
- $247,650From the Form D
- Offering size
- $24,765,000Equity offered, per the Form D
- Sold
- 99.1%Form D, Nov 13, 2023; the % is our arithmetic
- Investors reported
- Form D, Nov 13, 202312
- Selling commissions
- Form D Item 15; the % is our arithmetic$510,600 · 2.0% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
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: GoldCoast Logistics Headquarters. Top1031 is not a broker-dealer.What did the Trust own?
GoldCoast Logistics Group's headquarters at 1425 Madeline Lane in Elgin, Illinois was completed as a build-to-suit in 2022. 1 Kingsbarn announced on September 27, 2023 that it acquired the building from GoldCoast in a sale-and-leaseback. 1 STREAM Capital Partners, which brokered the transaction, reported a $20.5 million price — about $331 per square foot — for the building on 5.06 acres. 2
- Reported location
- Elgin, IL
- Property size
- 61,888 sq ft
How was it financed, and what did it cost to sell?
Neither the Form D nor the public reporting reviewed states a mortgage on the property, so whether the Trust used leverage is not established in the public record. The Form D does disclose a financing and acquisition fee payable to the sponsor or an affiliate. 3
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $510,600 · 2.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,567,650 · 6.3% of offeringForm D Item 16· The filing’s note: “Sponsor/its affiliate will receive financing and acquisition fee totaling $1,440,000 for structuring the offering and the property acquisition, plus $127,650 reimbursement for relevant offering expenses incurred related with the Offering totaling.”
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Sep 25, 2023
- Minimum investment
- $247,650
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.
Who's behind the Trust?
Kingsbarn Realty Capital is a repeat sponsor of 1031 exchange programs across net-lease and industrial property, and here it stepped in as the buyer in a sale-and-leaseback with the operating company that occupies the building. 1 Its SEC filing name for this Trust differs from the property's marketing name, a common convention that makes these offerings hard to trace back to a building.
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust filed one new-notice Form D reporting a first sale on September 25, 2023, and no amendment has followed. 3 It claimed Rule 506(c), the exemption that lets a sponsor advertise an offering publicly so long as every investor's accredited status is verified.
- Legal Trust name
- KB Chicago Logistics, DST
- SEC CIK
- 1998770
- First Form D
- Nov 13, 2023
- Latest Form D
- Nov 13, 2023
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $24,765,000 | $24,547,317 | 12 | 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 GoldCoast Logistics Headquarters?
- GoldCoast Logistics Headquarters is a Historical offering. Last Form D filed Nov 13, 2023.
- What does this Trust actually own?
- A single 61,888-square-foot industrial and logistics building at 1425 Madeline Lane in Elgin, Illinois, west of Chicago. STREAM Capital Partners, the broker on the sale, reported the building sits on 5.06 acres in a business park. Kingsbarn reported the building was completed as a build-to-suit in 2022 for GoldCoast Logistics Group.
- Who is the tenant, and what does triple-net mean here?
- GoldCoast Logistics Group, the company the building was built for, sold it to Kingsbarn and leased it back for 20 years on a triple-net basis, with 2.5% annual rent increases, according to Kingsbarn's September 27, 2023 announcement. Triple-net means the tenant pays property taxes, insurance and maintenance directly rather than the landlord absorbing them. Whether GoldCoast remains in occupancy today is not established in the public record.
- How large was the Offering and what was the minimum?
- The Form D filed November 13, 2023 reports a total offering amount of $24,765,000, structured as 100 Class 1 beneficial interests at $247,650 each, with a $247,650 minimum for outside investors. The same filing discloses a $1,440,000 financing and acquisition fee to the sponsor or an affiliate plus $127,650 in reimbursed offering expenses.
- Is the building currently on the market?
- Public marketing records show the address listed for sale. A Crexi record from NAI Hiffman displays 1425 Madeline Lane as for sale, single-tenant and net-leased, with no asking price stated. A LoopNet listing shows the same building as for sale. No completed sale or other exit outcome for the Trust is reported in the sources reviewed.
- Is there debt on the property?
- Not established publicly. The Form D does not state property-level debt, and no loan amount, lender or maturity appears in the sponsor announcement or third-party coverage reviewed. An investor would look to the offering documents for the financing structure.
In the news
Sources
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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.