Top1031

Laguna West Business Center

Office property in Elk Grove, CA · sponsored by Kingsbarn Realty Capital

HistoricalLast Form D filed May 31, 2022 (opens in a new tab)

Laguna West Business Center was a DST sponsored by Kingsbarn Realty Capital that owned an office property in Elk Grove, CA (50,429 square feet). Its last Form D was filed May 31, 2022.

How it ended

No outcome recorded · under 7 years

Last Form D filed May 31, 2022.

Kingsbarn Realty Capital has 10 active offerings on record →

Key facts

Minimum investment
$92,000
From the Form D
Offering size
$9,200,000
Equity offered, per the Form D
Sold
Not reported after the first Form D (May 31, 2022)
Form D, May 31, 2022
Selling commissions
$368,000 · 4.0% of offering
Form D Item 15; the % is our arithmetic
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: Laguna West Business Center. Top1031 is not a broker-dealer.

What did Laguna West Business Center own?

Kingsbarn Realty Capital announced its purchase of the two-building Laguna West complex on Kausen Drive in Elk Grove, south of Sacramento, on May 19, 2022. 2 The Sacramento Business Journal had reported in February 2022 that the two buildings sold to Kingsbarn for $11.9 million. 3 Sponsor and broker materials describe the same two addresses with materially different sizes and prices, a discrepancy the public record does not resolve.

Reported location
Elk Grove, CA
Property size
50,429 square feet

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

The Form D names no lender, loan amount or loan-to-value, and none of the sources reviewed confirm executed debt for this Trust. 1 Whether the buildings are held with a mortgage or all-cash is therefore not established in the public record.

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
$368,000 · 4.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$770,000 · 8.3% of offering
Form D Item 16
· The filing’s note: “KREC or an affiliate of KREC 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
Not in the Form D
Minimum investment
$92,000

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?

The Trust was noticed under the exemption that permits public advertising of a private placement so long as every buyer is a verified accredited investor. No amended notice has followed the original filing, so the SEC file carries no later sales update for this Trust. 1

Legal Trust name
KB Elk Grove, DST
SEC CIK
1930554
First Form D
May 31, 2022
Latest Form D
May 31, 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 sold
Form D$9,200,000
$0
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 Laguna West Business Center?
Laguna West Business Center is a Historical offering. Last Form D filed May 31, 2022.
What property does KB Elk Grove, DST own?
Laguna West Business Center, a two-building office complex at 2208 and 2218 Kausen Drive in Elk Grove, California, in the Sacramento metro area. Kingsbarn Realty Capital announced the acquisition on May 19, 2022, describing the complex as roughly 50,000 square feet; a leasing brochure for the same two addresses states a combined 50,429 square feet.
Who are the tenants?
A brochure for the property lists the California Office of Traffic Safety in 9,811 square feet since 2008, California Fair Employment & Housing in 17,968 square feet since 2004, DaVita in 7,633 square feet since 2007, and Capital Nephrology Medical Group in 2,110 square feet since 2008. The brochure is undated, so tenancy may have changed since; a Newmark listing advertises space at 2218 Kausen Drive as available.
Why do published prices for this property disagree?
Three figures circulate for the same two Kausen Drive buildings. The Sacramento Business Journal reported an $11.9 million sale in February 2022. Kingsbarn's own prior-performance table dated May 1, 2023 lists KB Elk Grove at a $13,700,000 purchase price across two properties and 48,257 square feet. An undated broker brochure quotes an $8,200,000 price for the portfolio. None of the sources reconciles the others.
How much debt does the Trust carry?
Unknown from public sources. Form D filings do not disclose loan terms, and no lender, principal balance, rate or maturity for KB Elk Grove, DST appears in the materials reviewed. A DST's actual leverage, if any, is described in its offering documents.
What does 'DST' mean for a 1031 exchange investor here?
A Delaware statutory trust holds title to the real estate and issues beneficial interests that the IRS has treated as like-kind replacement property, letting an exchanger deploy proceeds without buying a whole building. Investors are passive: the trustee, managed here by an affiliate of Kingsbarn, controls the asset. This Trust is not structured to convert into a REIT.

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.