Top1031

Green Valley Corporate Center North

Class A office portfolio in Henderson, NV · sponsored by Kingsbarn Realty Capital

HistoricalIn bankruptcy or distress · last Form D Aug 25, 2022Sponsor source (opens in a new tab)

Green Valley Corporate Center North was a DST sponsored by Kingsbarn Realty Capital that owned a class A office portfolio in Henderson, NV. In bankruptcy or distress, as reported by Kingsbarn Realty Capital.

How it ended

No outcome recorded · under 7 years

In bankruptcy or distress.

Sponsor document (opens in a new tab)

Kingsbarn Realty Capital has 10 active offerings on record →

Key facts

Minimum investment
$355,000
From the Form D
Offering size
$35,500,000
Equity offered, per the Form D
Sold
8.4%
Form D, Aug 25, 2022; the % is our arithmetic
Investors reported
2
Form D, Aug 25, 2022
Selling commissions
$1,420,000 · 4.0% 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(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: Green Valley Corporate Center North. Top1031 is not a broker-dealer.
Green Valley Corporate Center North image

Green Valley Corporate Center North · Henderson, NV · Photo: realnex.com

What did the Trust own?

Kingsbarn announced the purchase of the three-building portfolio at 2275, 2285 and 2370 Corporate Circle in Henderson, Nevada on July 28, 2022. 2 Kingsbarn's prior-performance schedule lists a $61,000,000 purchase price for the three Henderson properties. 4 An earlier owner, Buchanan Street Partners, acquired the North portfolio in 2018, when it was reported roughly 65 percent occupied. 5

Reported location
Henderson, NV
Property size
3 office properties; approximately 182,989 square feet

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

The Trust entered a $37,000,000 loan agreement with KeyBank on July 26, 2022, and KeyBank assigned its interest to Wilmington Trust on September 8, 2022. 3 Leveraged means the debt sits at the Trust level, and lender rights govern cash: the defendants initiated a cash sweep tied to the primary tenant, routing excess cash flow to the lender as additional security. 3

Debt

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

Costs and terms from the Form D

Selling commissions
$1,420,000 · 4.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$2,840,000 · 8.0% of offering
Form D Item 16
· The filing’s note: “An affiliate of KBEP will receive this amount for services provided in structuring the offering of the securities and acquisition of property associated therewith.”
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Aug 15, 2022
Minimum investment
$355,000

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?

A single Form D — the short notice an issuer files with the SEC to claim a private-placement exemption — covers this offering, with no amendments on the record. It was filed under Rule 506(c), which permits general solicitation but limits purchases to investors whose accredited status is verified.

Legal Trust name
KB Green Valley North, DST
SEC CIK
1943755
First Form D
Aug 25, 2022
Latest Form D
Aug 25, 2022
Filings on record
1
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D$35,500,000
$3,005,668
2
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 Green Valley Corporate Center North?
Green Valley Corporate Center North is a Historical offering. In bankruptcy or distress, as reported by Kingsbarn Realty Capital.
What does this Trust actually own?
Three Class A office properties at 2275, 2285 and 2370 Corporate Circle in Henderson, Nevada, totaling approximately 182,989 square feet, which Kingsbarn Realty Capital announced acquiring on July 28, 2022. Kingsbarn's own prior-performance schedule lists a $61,000,000 purchase price for the three buildings. Separate September 2022 trade reporting on a broader six-building Green Valley Corporate Center transaction is not attributed to this Trust.
Who is the tenant?
Court records identify Greenspun Media Group, the properties' prior owner, as the primary tenant. Its lease was scheduled to expire June 30, 2023; an amended lease ran from July 1, 2023 through June 30, 2028 but permitted Greenspun to reduce its space and/or terminate after 13 months provided it was not then in default. Whether that right was exercised is not established by the sources reviewed.
Is there a mortgage on the property?
Yes. On July 26, 2022 the Trust entered a $37,000,000 loan agreement with KeyBank, secured in part by the Corporate Circle office complex, and KeyBank assigned its interest to Wilmington Trust on September 8, 2022. The Trust's own Form D does not state leverage terms, and the current loan status is not established by the sources reviewed.
How current is the SEC record?
One Form D, filed August 25, 2022 under Rule 506(c), is the only filing on record for this Trust. No amendment has been filed since. That means the SEC file does not reflect anything about occupancy, the lease, or the loan after mid-2022 — an investor would look to the sponsor's offering documents and current sponsor reporting for that.
What is not known from public sources?
Current occupancy, current operating status following the May 13, 2025 decision, any disposition or foreclosure after that date, distribution terms, and any SEC amendment after August 25, 2022 were not established by the sources reviewed. A 2018 report of roughly 65 percent occupancy predates Kingsbarn's ownership and is historical only.

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.