Top1031

Laguna West Business Center

Office in Elk Grove, CA — sponsored by Kingsbarn Realty Capital

Files with the SEC as KB Elk Grove, DST

Minimum investment
$92k
Offering size
$9.2M
How much has sold
None sold yet
Asset type
Office
Location
Elk Grove, CA
Financing
All cash. This offering reports no mortgage debt.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

KB Elk Grove, DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold fractional interests in real estate — sponsored by Kingsbarn Realty Capital. It owns Laguna West Business Center, two multi-tenant office buildings at 2208 and 2218 Kausen Drive in Elk Grove, California, south of Sacramento.2 One Form D sits on the SEC record, filed in 2022, with no amendment behind it.1

Show sources (10)Hide sources (10)

These links support the historical public record; individual details may come from different sources.

On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.

Chapter 2

What exactly is the property?

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
Chapter 3

Who is the tenant, and what's the lease?

Laguna West is multi-tenant office rather than a single-tenant net lease, so income depends on several leases rolling at different times: the brochure lists the California Office of Traffic Safety, California Fair Employment & Housing, DaVita and Capital Nephrology Medical Group, and put occupancy at 74.41%.4 Newmark has separately advertised space at 2218 Kausen Drive for lease.7

Chapter 4

How did it end?

What happened

No sale or other ending on record

KB Elk Grove, DST (owner of the 2208/2218 Kausen Drive office park, Elk Grove, CA) still appears on Kingsbarn's portfolio and prior-performance disclosures with no disposition date; 2218 Kausen Drive is currently marketed for lease by Newmark, and no full-cycle/sale announcement has been found.

The Laguna West Business Center brochure describes a 50,429-square-foot, two-building office portfolio at 74.41% occupancy with tenants including the California Office of Traffic Safety, California Fair Employment & Housing, DaVita, and Capital Nephrology Medical Group; Kingsbarn's article rounds the size to approximately 50,000 square feet.

50,429 square feet
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

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.

Chapter 7

What does the paperwork say?

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

  1. Form D filedFirst and latest filing on record.
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.

Chapter 8

Common questions

What happened to Laguna West Business Center?

Top1031 lists Laguna West Business Center as historical. It is no longer raising money.

Where does Top1031 get the data for Laguna West Business 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.

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.[4]

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.[4] The brochure is undated, so tenancy may have changed since; a Newmark listing advertises space at 2218 Kausen Drive as available.[7]

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.[3] 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.[6] An undated broker brochure quotes an $8,200,000 price for the portfolio.[4] None of the sources reconciles the others.

Is the Trust still raising money?

The SEC record holds a single Form D filed May 31, 2022 with no amendment.[1] Kingsbarn's prior-performance table dated May 1, 2023 lists KB Elk Grove among its programs, but no filing reviewed confirms a closing or a final subscription result.[6] Availability is a question for the sponsor or your broker-dealer, not the filing record.

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.[1] A DST's actual leverage, if any, is described in its private placement memorandum, the offering document delivered to accredited investors.

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.[1] This Trust is not structured to convert into a REIT.

Chapter 9

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