Heartland Payment Systems Corporate Headquarters
Office in Oklahoma City, OK — sponsored by Net Lease Capital Advisors
Files with the SEC as FC OKLAHOMA CITY OK INVESTORS DST
Minimum investment
Not stated
Offering size
$29.5M
How much has sold
38.0%
Asset type
Office
Location
Oklahoma City, OK
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Heartland Payment Systems Corporate Headquarters is a Delaware statutory trust — a structure that lets 1031-exchange investors hold fractional interests in real estate — sponsored by Net Lease Capital Advisors.3 It holds a Class A office building in downtown Oklahoma City that was built to suit Heartland and finished in 2020.1 Interests were offered under Rule 506(b), the private-placement exemption that bars general advertising.
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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 property is a seven-story Class A office building at 616 N Broadway Ave. in downtown Oklahoma City, built to suit Heartland Payment Systems and completed in 2020.1 Syndicated Equities, an affiliated firm, announced on October 12, 2022 that it had acquired the headquarters for $46.97 million and structured the ownership as a Delaware statutory trust for 1031-exchange investors.2
- Reported location
- Oklahoma City, OK
- Property size
- 111,500 sq ft
Who is the tenant, and what's the lease?
Heartland Payment Systems occupies the building as its corporate headquarters under a 100% net lease, meaning the tenant carries taxes, insurance, and maintenance rather than the landlord.4 Heartland now operates under the Global Payments brand.5 No lease term, rent figure, or expiration date appears in the public filings.
How did it end?
Foreclosed
Per the White Law Group securities investigation page, the FC Oklahoma City OK Investors DST resulted in a total loss for investors after the property was foreclosed upon [1].
Heartland Payment Systems HQ — 100% net-leased, Class A office, ~111,500 sq ft, Oklahoma City, OK. Acquired in 2022 for ~$46.97M. Form D filed Mar 25 – Jun 21, 2021 (CIK 0001852737). Sponsor Net Lease Capital Advisors (Nashua, NH).
111,500 sq ftSupporting evidence
How is it financed, and what does it pay?
A Form D reports equity raised, not debt, so this Trust's filings say nothing about a mortgage. No lender, loan amount, or loan-to-value figure appears in the public materials reviewed for this record, and the leverage status is therefore not established here.
Who's behind it?
The sponsor is a net-lease real estate firm based in Nashua, New Hampshire; the Form D/A lists the issuer c/o Net Lease Capital Advisors, Inc. at 10 Tara Boulevard, Suite 501, and names Douglas F. Blough and Bruce S. MacDonald as executive officers, with MacDonald signing as president.3 Affiliated firm Syndicated Equities announced the Oklahoma City acquisition on October 12, 2022.2 The White Law Group published a lawsuit-investigation page naming this Trust on May 3, 2025.6
- Sponsor
- Net Lease Capital Advisors
- Legal Trust name
- FC OKLAHOMA CITY OK INVESTORS DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 22 total offerings from Net Lease Capital Advisors
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust was organized in Delaware in 2020, and the Form D/A reports a first sale of interests on March 15, 2021.3 The amendment updated the amount sold and the investor count while leaving the total offering amount unchanged.3
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- 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 Heartland Payment Systems Corporate Headquarters?
Top1031 lists Heartland Payment Systems Corporate Headquarters as historical. It is no longer raising money.
Where does Top1031 get the data for Heartland Payment Systems Corporate Headquarters?
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 exactly am I buying an interest in?
A beneficial interest in FC Oklahoma City OK Investors DST, a Delaware statutory trust organized in 2020 and sponsored by Net Lease Capital Advisors.[3] The trust's asset is a Class A office building at 616 N Broadway Ave. in downtown Oklahoma City, built to suit Heartland Payment Systems and completed in 2020.[1] A DST holds title to the real estate; investors hold passive fractional interests that can qualify as replacement property in a 1031 exchange.
Who is the tenant?
Heartland Payment Systems, which the sponsor describes as occupying the building as its corporate headquarters under a 100% net lease.[4] Heartland now operates under the Global Payments brand.[5] The public filings reviewed for this record do not disclose the lease term, rent, escalations, or expiration date.
Is Heartland still occupying the building today?
That is not established by the sources here. The Oklahoman reported in October 2022 that Heartland fully occupied the building and would continue leasing space there.[1] A broker leasing page for the Heartland Building lists availabilities on the second floor and elsewhere, but that page is undated and does not itself show that Heartland vacated or that the headquarters lease ended.[7]
How much debt is on the property?
Unknown from public sources. Form D filings do not require disclosure of mortgage debt, and no lender, loan balance, maturity, or loan-to-value figure surfaced in the reporting or sponsor materials reviewed for this record. Those terms, if any, would be described in the private placement memorandum (PPM), the offering document a sponsor gives prospective investors.
Why is there a 2021 offering but a 2022 acquisition date?
The Trust filed its first Form D on March 25, 2021 and reported a first sale of interests on March 15, 2021.[3] The purchase of the Oklahoma City headquarters for $46.97 million was reported by The Oklahoman on October 6, 2022 and announced by Syndicated Equities on October 12, 2022.[2] The public record does not explain the gap between the two dates.
What is the White Law Group page about this trust?
The White Law Group, a securities law firm, published a page on May 3, 2025 titled as a lawsuit investigation into FC Oklahoma City OK Investors DST, discussing potential claims against brokerage firms that recommended the investment.[6] An investigation page is a solicitation by a law firm, not a court finding; no foreclosure docket, judgment, deed, or arbitration award corroborating an adverse outcome was located for this record.
Chapter 9FC Oklahoma City OK Investors DST: Lawsuit InvestigationInvestor-alert article confirming FC Oklahoma City OK Investors DST was a 2020 DST sponsored by Net Lease Capital Advisors that raised more than $29.4 million. Syndicated Equities Buys 100% Net Leased Property in Oklahoma City for DST OfferingAltsWire reports Syndicated Equities (parent of Net Lease Capital Advisors) acquired the ~111,500 sq ft Heartland Payment Systems HQ in Oklahoma City for $46.97M as a DST.