Waygate Technologies Light Manufacturing & Office Facility
Light manufacturing and office facility in Skaneateles, NY — sponsored by NAS Investment Solutions
Files with the SEC as 721 Skaneateles, DST
Minimum investment
$100k
Offering size
$8.3M
How much has sold
None sold yet
Asset type
Light manufacturing and office facility
Location
Skaneateles, NY
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
721 Skaneateles, DST is a Delaware Statutory Trust — a co-ownership structure 1031 exchangers use to hold fractional real estate — sponsored by NAS Investment Solutions. It holds a light manufacturing and office facility at 721 Visions Drive in Skaneateles, New York, leased to Waygate Technologies.1 The single Form D on record is an initial 2022 notice; the sponsor's property page now labels the offering "Sold Out."3
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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.
What exactly is the property?
The facility sits at 721 Visions Drive in Skaneateles, New York, within the Syracuse market, and was built in 2007.1 The sponsor's brochure describes roughly 17.88 acres and 293 parking spaces.1 NAS Investment Solutions announced the acquisition on June 2, 2022, structured as a Delaware Statutory Trust with 10 investment clients.2 Sponsor materials give two different building sizes, and both published figures are preserved below.
- Reported location
- Skaneateles, NY
- Property size
- ±73,820 sq ft (NASIS offering brochure); 55,000 sq ft (NASIS acquisition notice/citybiz)
Who is the tenant, and what's the lease?
Waygate Technologies is named as the original tenant under what the sponsor's brochure calls a recently renewed 10-year net lease with two five-year renewal options — a net lease shifts operating costs to the tenant.1 Baker Hughes announced on April 13, 2026 that it agreed to sell Waygate Technologies to Hexagon, a transaction that had not closed.5
How did it end?
No ending on record
No public full-cycle sale or disposition announcement was found for the 721 Skaneateles, DST (CIK 1928399); the Waygate Technologies/Baker Hughes industrial facility remains listed and the Baker Hughes–Hexagon sale of the Waygate business does not include the underlying real estate.
NASIS markets this as a Waygate Technologies light-manufacturing and office DST with a long-term net lease and two five-year options; the brochure describes an investment-grade Waygate Technologies tenant, ±17.88 acres, and 293 parking spaces. The offering brochure states ±73,820 sq ft while NASIS's acquisition notice and the citybiz report state 55,000 sq ft, so the conflicting public figures are preserved rather than reconciled.
±73,820 sq ft (NASIS offering brochure); 55,000 sq ft (NASIS acquisition notice/citybiz)Supporting evidence
How is it financed, and what does it pay?
Neither the Form D nor the sponsor's public announcements state property-level debt or loan terms, so whether this Trust used leverage is not established in the public record.4
Who's behind it?
NAS Investment Solutions sponsors 1031 exchange DST offerings and served as sponsor here. Affiliate National Asset Services announced on June 3, 2022 that it had been named asset and property manager for the Skaneateles facility, describing it as 100% leased to Waygate Technologies. The sponsor's page for this property now carries a "Sold Out" label.3 Separately, The White Law Group announced on January 14, 2025 an investor-loss investigation involving 721 Skaneateles, DST.
- Sponsor
- NAS Investment Solutions
- Legal Trust name
- 721 Skaneateles, DST
- May convert to a REIT
- Yes
- Offerings from this sponsor
- 2 active / 4 total offerings from NAS Investment Solutions
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The only Form D on record is the initial notice, which reported that the first sale had yet to occur and named NAS Investment Solutions LLC as a director-related person; no amendment followed to update it.4 Rule 506(c) permits public advertising of the offering, with every investor verified as accredited.
- 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.
Common questions
What happened to Waygate Technologies Light Manufacturing & Office Facility?
Top1031 lists Waygate Technologies Light Manufacturing & Office Facility as historical. It is no longer raising money.
Where does Top1031 get the data for Waygate Technologies Light Manufacturing & Office Facility?
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 721 Skaneateles, DST?
No — this Trust is closed to new investors as a practical matter. NAS Investment Solutions' property page for the Waygate Technologies DST carries a "Sold Out" label as of research conducted August 22, 2026.[3] The sponsor also announced on June 2, 2022 that it had acquired the property with 10 investment clients in the Delaware Statutory Trust.[2] The Trust never filed an amended Form D updating its initial May 2022 notice, so SEC records alone do not show the closing.
Who is the tenant, and does the pending Hexagon deal change anything?
Waygate Technologies occupies the building, identified by the sponsor as the original tenant under a recently renewed 10-year net lease with two five-year options.[1] Baker Hughes announced on April 13, 2026 that it agreed to sell Waygate Technologies to Hexagon for approximately $1.45 billion in cash, with closing expected in the second half of 2026 subject to regulatory approvals.[5] That is a change of tenant ownership, not a sale of the property or the lease, and it had not closed as of the announcement.
Why do two different square footages appear for this building?
The sponsor's own materials disagree. The NAS Investment Solutions offering brochure describes approximately 73,820 square feet, while the sponsor's acquisition announcement and the citybiz report on it describe 55,000 square feet.[1] Top1031 preserves both published figures rather than picking one, because no public source reconciles them.
What is the White Law Group investigation?
The White Law Group, an investor-loss law firm, published a notice on January 14, 2025 announcing an investigation into claims involving 721 Skaneateles, DST, and stated the offering amount purportedly sold. A law firm investigation announcement is a solicitation for potential claimants — it is not a regulatory action, a lawsuit outcome, or a finding of wrongdoing by any court or agency.
Does this Trust have debt on the property?
The public record does not say. The Form D filed with the SEC covers only the securities offering and does not state tenant, lease, acquisition price, or debt terms, and the sponsor's public announcements do not disclose loan terms either.[4] An investor would need the private placement memorandum — the offering's full disclosure document — to see the capital structure.
What does it mean that this Trust may convert to a REIT?
A 721 or UPREIT exit means the sponsor may, at some point, exchange the Trust's property for operating partnership units in a real estate investment trust rather than selling for cash. That converts a direct property interest into REIT-linked units and generally ends the ability to do another 1031 exchange on that position. Whether and when such an exchange happens is governed by the Trust's own documents.
Chapter 9721 Skaneateles, DST: Investor Lawsuit InvestigationThe White Law Group announced an investigation into potential securities claims involving broker-dealers that may have recommended 721 Skaneateles, DST. NAS Investment Solutions Acquires Class-A Manufacturing and Office Facility 100% Leased to State-of-the-Art Technology Companycitybiz reported that NAS Investment Solutions acquired the Skaneateles Class-A manufacturing and office facility, which was 100% leased to a state-of-the-art technology company and structured with 10 investment clients as a DST.