KB Diversified Healthcare 60, DST
Office property in Louisville, KY · sponsored by Kingsbarn Realty Capital
KB Diversified Healthcare 60, DST was a DST sponsored by Kingsbarn Realty Capital that owned an office property in Louisville, KY (128,710 square feet). Its last Form D was filed Jun 6, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed Jun 6, 2022.
Kingsbarn Realty Capital has 10 active offerings on record →
Key facts
- Minimum investment
- $711,000From the Form D
- Offering size
- $71,100,000Equity offered, per the Form D
- Sold
- 29.3%Form D, Jun 6, 2022; the % is our arithmetic
- Investors reported
- Form D, Jun 6, 202218
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,844,000 · 4.0% of offering
- 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 →
Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.
Ask a 1031 specialist about this recordFree. About: KB Diversified Healthcare 60, DST. Top1031 is not a broker-dealer.What did the Trust own?
Louisville Business First reported that the Trust bought 888 W. Market Street in downtown Louisville for $27.2 million in May 2022; ZirMed, a Waystar predecessor, built the tower in 2009. Kingsbarn's DST program table, dated May 1, 2023, lists this Trust as ten properties across eight states totaling 283,759 square feet. 1 No retrieved public source identifies the other nine properties, their cities, or the eight states.
- Reported location
- Louisville, KY
- Property size
- 128,710 square feet
How was it financed, and what did it cost to sell?
The Form D discloses no loan, lender, or debt terms, and this Trust's leverage is recorded as unknown. Kingsbarn's May 1, 2023 program table reports a $132,375,000 purchase price for the portfolio alongside the $71.1 million equity offering; no retrieved source reconciles the two figures or names a lender. 1
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $2,844,000 · 4.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $4,550,000 · 6.3% of offeringForm 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
- MIT Associates, LLC · CRD 121171
Individual representatives named in Item 12 are not listed.
- Date of first sale
- May 31, 2022
- Minimum investment
- $711,000
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.
Who's behind the Trust?
Kingsbarn Realty Capital is a Las Vegas sponsor whose principal address on the SEC record is 1645 Village Center Circle, Suite 200. 2 Its 1031 platform runs through KB Exchange Properties, LLC, named in the Form D as promoter and as the manager of the manager of the Trust's signatory trustee. 3 That filing also identifies Jeffrey A. Pori as a Kingsbarn manager and Rustyn Osier as chief financial officer. 3
- Sponsor
- Offerings on record
What does the SEC record show?
The paper trail here is thin: a first sale on May 31, 2022, a single notice filing days later, and no amendment on the SEC record since. 2 The offering may be advertised publicly, but every buyer must be a verified accredited investor — someone meeting SEC income or net-worth tests whose status the sponsor confirms.
- Legal Trust name
- KB Diversified Healthcare 60, DST
- SEC CIK
- 1931469
- First Form D
- Jun 6, 2022
- Latest Form D
- Jun 6, 2022
- 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 | $71,100,000 | $20,881,971 | 18 | 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 KB Diversified Healthcare 60, DST?
- KB Diversified Healthcare 60, DST is a Historical offering. Last Form D filed Jun 6, 2022.
- What does this Trust actually own?
- The one property named in public reporting is 888 W. Market Street in downtown Louisville, Kentucky, a 2009-built office tower of 128,710 square feet that Louisville Business First reported selling to KB Diversified Healthcare 60, DST for $27.2 million in May 2022. Kingsbarn's own DST program table, dated May 1, 2023, describes the Trust as ten properties across eight states totaling 283,759 square feet. The other nine properties are not identified in any source retrieved for this record.
- Who is Waystar, and is it still the tenant?
- Waystar is a healthcare payments software company dually headquartered in Louisville. Louisville Business First identified it as the fully leased occupant of 888 W. Market Street at the time of the May 2022 sale, and WDRB reported in October 2023 that ZirMed, a Waystar predecessor, built the 888 W. Market Street tower in 2009. No retrieved source confirms the current lease status, term, or renewal dates.
- Can this Trust roll into a REIT at the end?
- The record for this Trust shows no 721/UPREIT exit — the arrangement in which a DST's property is contributed to a REIT's operating partnership in exchange for units rather than sold for cash. Absent that feature, the customary path is a sale of the underlying real estate, with investors free to attempt another 1031 exchange at that point. The offering documents govern; confirm exit mechanics there.
- What is the minimum investment?
- The Form D reports a minimum outside investment of $711,000 for this offering. That figure is what the issuer filed with the SEC; sponsors and selling broker-dealers sometimes apply different minimums for exchange versus cash investors, so the offering documents and your intermediary's terms control.
- What can't I learn from the public filings here?
- A fair amount. The single Form D does not disclose the property addresses, the eight states, tenant rosters, lease structures or terms, occupancy, closing dates, or any debt. It also does not reconcile the $71.1 million offering with the $132,375,000 purchase price shown on Kingsbarn's May 1, 2023 program table. Those answers live in the offering documents.
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.