KB Mankato Travel Center
Net lease property in Mankato, MN — sponsored by Kingsbarn Realty Capital
Show sources (7)Hide sources (7)
These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
KB Mankato Travel Center, DST is a Delaware statutory trust — a co-ownership vehicle whose interests can serve as 1031 replacement property — sponsored by Kingsbarn Realty Capital and holding the TA Express travel center at 3010 Adams Street in Mankato, Minnesota.1 Kingsbarn announced on February 25, 2025 that the offering had closed, so the Trust is no longer open to new investors.2
Minimum investment
$323k
Offering size
$32.3M
How much has sold
31.0%
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited 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?
Fryberg Petroleum developed the travel center at 3010 Adams Street, at the junction of U.S. Highways 14 and 169 in Mankato, Minnesota.3 The center opened for business in February 2022.4 Finance & Commerce reported the property traded on October 17, 2024 for $10 million, with LV Petroleum LLC buying from Trifecta Properties, and tied the Las Vegas purchaser to a DST offering.3
- Reported location
- Mankato, MN
- Property size
- 7,575 sq ft restaurant and convenience store; 75 overnight parking stalls; 8 refueling lanes; 18-hole golf simulator
Who is the tenant, and what's the lease?
Finance & Commerce reported that the October 2024 sale included a net-net-net lease with Fryberg Petroleum — a structure in which the tenant, not the trust, carries taxes, insurance and maintenance.3 TravelCenters of America's location directory lists the site as TA Express Mankato #0977.5
How did it end?
Still operating
Newly constructed in 2023 by Fryberg Petroleum at the junction of US Hwy 14 and US Hwy 169, and sold in late October 2024 for $10 million to a Las Vegas-based buyer (Kingsbarn) for inclusion in the KB Mankato Travel Center, DST; operated under the TA Express brand (phone 320-470-9288).
7,575 sq ft restaurant and convenience store; 75 overnight parking stalls; 8 refueling lanes; 18-hole golf simulatorSupporting evidence
Counted on Kingsbarn Realty Capital’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
The Form D names no lender and states no trust-level mortgage, so whether investors sit behind debt is not resolved by the public record.6 Finance & Commerce reported a new mortgage in the October 2024 property transaction but did not identify it as an obligation of the Trust.3
Who's behind it?
Kingsbarn Realty Capital is a Las Vegas sponsor; the Trust's Form D gives a principal address at 1645 Village Center Circle.6 Minnesota Secretary of State records register the Trust as a business trust, filed in December 2024. The Form D also reports a $3,170,000 financing and acquisition fee to the sponsor or an affiliate, plus $188,000 of offering-expense reimbursement.6 On February 25, 2025 Kingsbarn announced the offering had closed and that every investor used its interests to complete a 1031 exchange.2
- Sponsor
- Kingsbarn Realty Capital
- May convert to a REIT
- No
- Offerings from this sponsor
- 10 active / 31 total offerings from Kingsbarn Realty Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
A single Form D covers the entire raise; it reports a first sale on November 26, 2024 and 100 Class 1 beneficial interests priced at $322,500 each.6 Because the notice relies on the exemption that permits general advertising, participation was limited to accredited investors whose status is verified.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- KB Mankato Travel Center, DST
- 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 KB Mankato Travel Center?
KB Mankato Travel Center is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for KB Mankato Travel Center?
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.
Can I still invest in KB Mankato Travel Center, DST?
No. Kingsbarn Realty Capital announced on February 25, 2025 that the KB Mankato Travel Center, DST offering had closed. The Trust is closed to new investors, and only one Form D was ever filed for it, on January 2, 2025.
What does the Trust own?
A travel center at 3010 Adams Street in Mankato, Minnesota, at the junction of U.S. Highways 14 and 169. Kingsbarn's portfolio page identifies the asset as TA Express – Mankato, and TravelCenters of America's directory lists it as TA Express Mankato #0977.
Who operates the property, and what kind of lease is in place?
Finance & Commerce reported that the October 2024 sale of the property included a net-net-net lease with Fryberg Petroleum, which it identified as the operator — meaning the tenant, rather than the trust, bears taxes, insurance and maintenance. The location currently operates under the TA Express brand, and LV Petroleum lists it among its sites. The public record does not state the lease term or expiration.
What was the minimum investment?
The Form D filed January 2, 2025 states a $322,500 minimum, corresponding to one Class 1 beneficial interest; the offering consisted of 100 such interests at $322,500 each.
Does this Trust have a 721/UPREIT exit — a swap of DST interests for operating-partnership units in a REIT?
No such conversion is indicated in the record for this Trust. Any exit mechanics would be governed by the private placement memorandum, the offering document delivered to investors.
Is the Trust leveraged?
Unresolved from public sources. The Form D does not name a lender or state trust-level debt. Finance & Commerce reported a new mortgage in the underlying October 17, 2024 property transaction but did not identify that mortgage as debt of KB Mankato Travel Center, DST.
Chapter 9Kingsbarn Portfolio of Properties — Mankato Travel Center entryKingsbarn portfolio page lists 'Mankato — 3010 Adams St Mankato MN' as a Kingsbarn property, consistent with the KB Mankato Travel Center, DST. Kingsbarn Realty Capital: DST Sponsor Profile and Program ActivitySponsor profile noting the KB Mankato Travel Center, DST closed its offering in early 2025. KB Mankato Travel Center, DST – Business Trust FilingOfficial Minnesota Secretary of State filing registering KB Mankato Travel Center, DST as a Business Trust (Document #20244025) with Registered Agent Incorp Services Inc. Just Sold: New Mankato Travel Center sells for $10MTrade press reported the newly built Mankato Travel Center at 3010 Adams Street sold for $10 million to a Las Vegas-based buyer (Kingsbarn) for inclusion in a DST offering, noting 7,575 sq ft, 75 overnight stalls, 8 refueling lanes, and a golf simulator. Mankato Travel Center opens for businessLocal Mankato TV news reported the grand opening of the Mankato Travel Center at 3010 Adams Street with gas pumps, a full-service restaurant and bar, and a golf simulator. Mankato Travel Center gears up for openingLocal news coverage of the new 15,000-square-foot travel center opening at 3010 Adams Street in Mankato, MN — the underlying property of the later KB Mankato Travel Center, DST.