Top1031

Tesla Sales and Service Center – Golden Valley

Net lease property in Golden Valley, MN · sponsored by Kingsbarn Realty Capital

HistoricalLast Form D filed Mar 21, 2024 (opens in a new tab)

Tesla Sales and Service Center – Golden Valley was a DST sponsored by Kingsbarn Realty Capital that owned a net lease property in Golden Valley, MN (about 50,000 SF). Its last Form D was filed Mar 21, 2024.

How it ended

No outcome recorded · under 7 years

Last Form D filed Mar 21, 2024.

Kingsbarn Realty Capital has 10 active offerings on record →

Key facts

Minimum investment
$283,500
From the Form D
Offering size
$28,350,000
Equity offered, per the Form D
Sold
10.6%
Form D, Mar 21, 2024; the % is our arithmetic
Investors reported
4
Form D, Mar 21, 2024
Selling commissions
$660,000 · 2.3% 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: Tesla Sales and Service Center – Golden Valley. Top1031 is not a broker-dealer.

What did the Trust own?

The building is a newly constructed Tesla dealership at 700 Ottawa Ave N in Golden Valley, a Minneapolis suburb. 2 KB Golden Valley DST bought it from Drake Motor Partners GV LLC on a deed dated February 14, 2024, at a recorded price of $23.7 million. 1 The site spans about 4.6 acres. Kingsbarn announced the purchase on February 16, 2024. 5

Reported location
Golden Valley, MN
Property size
~50,000 SF (47,995 RSF)

Tenant and lease terms are not in the SEC filings or cited sources.

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

Whether the Trust carries debt is not disclosed in its Form D. The county's certificate of real estate value records the acquisition as financed with a new mortgage, but discloses no lender, loan principal, or loan terms. 1

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
$660,000 · 2.3% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$2,280,650 · 8.0% of offering
Form D Item 16
· The filing’s note: “Sponsor/its affiliate will receive financing and acquisition fee totaling $2,115,000 for structuring the offering and the property acquisition, plus $165,650 reimbursement for relevant offering expenses incurred related with the Offering totaling.”
Broker-dealers named in the Form D
None named in the Form D
Date of first sale
Feb 23, 2024
Minimum investment
$283,500

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. The issuer marked these amounts as an estimate.

What does the SEC record show?

The Trust's Form D reports a date of first sale of February 23, 2024, and no amendment has followed it. 7 It is offered under an exemption that allows the sponsor to advertise publicly while requiring it to verify that every buyer is an accredited investor — someone meeting SEC income or net-worth thresholds.

Legal Trust name
KB Golden Valley, DST
SEC CIK
2014035
First Form D
Mar 21, 2024
Latest Form D
Mar 21, 2024
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$28,350,000
$3,022,871
4
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 Tesla Sales and Service Center – Golden Valley?
Tesla Sales and Service Center – Golden Valley is a Historical offering. Last Form D filed Mar 21, 2024.
What does this Trust actually own?
A single-tenant Tesla sales and service center at 700 Ottawa Ave N in Golden Valley, Minnesota, on roughly 4.6 acres. The Minnesota certificate of real estate value records KB Golden Valley DST as the buyer, Drake Motor Partners GV LLC as the seller, a deed date of February 14, 2024, and a purchase amount of $23,700,000.
Who is the tenant, and how long is the lease?
Tesla. Tesla's own listings place both a store and a service center at 700 Ottawa Ave N. The asset is classified as net lease, meaning the tenant covers most property operating costs, but no lease instrument or lease term is available in the public record — the term, renewal options, and rent escalations would be described in the offering documents.
Is there a mortgage on the property?
The county certificate of real estate value marks the acquisition financing type as a new mortgage. It does not name the lender or state a loan amount, and the Form D does not address debt, so the size of any loan and its terms are not established by public filings.
How large is the offering, and what is the minimum investment?
The Form D filed with the SEC on March 21, 2024 reports a total offering amount of $28,350,000 and a minimum investment accepted from any outside investor of $283,500.
Can this Trust convert into a REIT?
The record shows no REIT conversion feature. Some DST sponsors build in a 721/UPREIT exit, where investors' interests are eventually rolled into an operating partnership of a REIT in exchange for units; nothing in this Trust's filings indicates that path.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

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.