Waygate Technologies Light Manufacturing & Office Facility
Light manufacturing and office facility in Skaneateles, NY · sponsored by NAS Investment Solutions
Waygate Technologies Light Manufacturing & Office Facility was a DST sponsored by NAS Investment Solutions that owned a light manufacturing and office facility in Skaneateles, NY. Its last Form D was filed May 19, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed May 19, 2022.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $8,350,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (May 19, 2022)Form D, May 19, 2022
- Selling commissions
- Form D Item 15; the % is our arithmetic$0 · 0.0% of offering
- 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: Waygate Technologies Light Manufacturing & Office Facility. Top1031 is not a broker-dealer.What did the Trust own?
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)
How was it financed, and what did it cost to sell?
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
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
- May convert to a REIT (721)
- Yes
Costs and terms from the Form D
- Selling commissions
- $0 · 0.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $399,000 · 4.7% of offeringForm D Item 16
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Not in the Form D
- Minimum investment
- $100,000
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. The issuer marked these amounts as an estimate.
Who's behind the Trust?
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
- Offerings on record
What does the SEC record show?
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.
- Legal Trust name
- 721 Skaneateles, DST
- SEC CIK
- 1928399
- First Form D
- May 19, 2022
- Latest Form D
- May 19, 2022
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $8,350,000 | $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 Waygate Technologies Light Manufacturing & Office Facility?
- Waygate Technologies Light Manufacturing & Office Facility is a Historical offering. Last Form D filed May 19, 2022.
- Does Waygate Technologies Light Manufacturing & Office Facility have a 721 UPREIT exit?
- The record lists a possible 721 exit for Waygate Technologies Light Manufacturing & Office Facility. The offering documents set whether and when it could happen. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
- How a DST-to-721 UPREIT exit works
- 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. 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. 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. 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. An investor would need the offering documents to see the capital structure.
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.