Huntington Tower (2025 Woodward Avenue, Detroit, MI)
Office (single-tenant net lease, financial services HQ implied by trust name) property in Detroit, MI — sponsored by Net Lease Capital Advisors
Files with the SEC as NLC Financial Service HQ DST
Minimum investment
$150k
Offering size
$137.7M
How much has sold
67.0%
Asset type
Office (single-tenant net lease, financial services HQ implied by trust name) property
Location
Detroit, MI
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
NLC Financial Service HQ DST is a Delaware statutory trust — fractional, passive ownership of one property, used mainly by 1031 exchange investors — sponsored by Net Lease Capital Advisors. It holds a reported 79.30% interest in Huntington Tower at 2025 Woodward Avenue, Detroit, reported fully leased to The Huntington National Bank on an absolute-net lease running to June 2044.1 Interests are sold privately to accredited investors.
Min $150k; $92.2M sold of $137.7M, $45.5M remaining (Form D/A 6/25/26); first sale 4/27/26; 506(b), not publicly marketed
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These links support the public record as a whole; 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?
Huntington Tower stands at 2025 Woodward Avenue in downtown Detroit. Colliers, which arranged the sale, said the 21-story tower was completed in 2022 and that The Herrick Company sold it for $156 million in March 2026, with the buyer undisclosed.2 Crain's Detroit Business later identified Net Lease Capital Advisors as the buyer of what it called Detroit's most expensive office building.3 Sponsor material instead describes a 2023-built, 20-story Class A headquarters — a conflict the reviewed record leaves open.1
- Reported location
- Detroit, MI
- Property size
- 203,300 square feet
Who is the tenant, and what's the lease?
Sponsor material reports the tower fully leased to The Huntington National Bank under a 22.5-year absolute-net lease — the tenant, not the Trust, carries taxes, insurance and maintenance — expiring June 2044, with four seven-year renewal options and a corporate guaranty from Huntington Bancshares Incorporated.1
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
67.0% reported sold
- Amount sold
- $92,234,640
- Still available
- $45,457,926
- Investors reported
- 36
- Total offering
- $137,692,566
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How is it financed, and what does it pay?
No SEC filing reviewed for this profile names a lender or states loan terms. Sponsor material describes a zero-cash-flow structure — rent services mortgage debt of $113,940,598 against $23,751,968 of investor equity — and states that no current distributions are paid.1
Who's behind it?
Net Lease Capital Advisors, based in Nashua, New Hampshire, structures net-leased real estate for 1031 exchange investors. Crain's Detroit Business reported on March 24, 2026 that the firm paid $156 million for the Huntington Bank tower on Woodward Avenue.3 Sponsor material distributed by Baker 1031 Investments describes the Trust as a zero-cash-flow DST holding a 79.30% interest in the building.1
- Sponsor
- Net Lease Capital Advisors
- Legal Trust name
- NLC Financial Service HQ 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 original Form D reported no sales and no investors; two later amendments recorded subscriptions as they came in, the second lifting the reported total sharply. The exemption used bars general solicitation and advertising, so the Trust reaches accredited investors — those meeting SEC income or net-worth tests — through existing broker-dealer and adviser relationships.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 3
- 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
Is Huntington Tower (2025 Woodward Avenue, Detroit, MI) still raising money?
Top1031 lists Huntington Tower (2025 Woodward Avenue, Detroit, MI) as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Huntington Tower (2025 Woodward Avenue, Detroit, MI)?
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 does this Trust own?
An interest in Huntington Tower, an office building at 2025 Woodward Avenue in downtown Detroit. Sponsor material distributed by Baker 1031 Investments says the Trust holds a 79.30% interest in the property and describes a 2023-built, 20-story Class A office headquarters. Colliers, which brokered the March 2026 sale, described the same asset as a 21-story building completed in 2022, and trade coverage of that sale put its size near 203,000 square feet. The reviewed record does not reconcile the completion year or story count; the Private Placement Memorandum (PPM) — the offering's governing disclosure document — settles the building description and the exact legal title holder.
Who is the tenant, and how long is the lease?
The Huntington National Bank. Sponsor material distributed by Baker 1031 Investments reports the property 100% leased to the bank under a 22.5-year absolute-net lease, meaning the tenant pays operating costs, real-estate taxes, insurance and maintenance. That material states the lease expires in June 2044, with four seven-year renewal options, 2.00% annual rent escalations, and Huntington Bancshares Incorporated as guarantor. Colliers' March 2026 sale announcement separately described the tower as carrying a long-term net lease to Huntington Bancshares. The PPM controls the actual rent and lease terms.
What does the record say about distributions?
Sponsor material describes this as a zero-cash-flow structure: the Baker 1031 Investments offering page dated June 20, 2026 states that no current distributions are paid, because lease rent services the mortgage debt. Form D — the short notice an issuer files with the SEC to claim a private-placement exemption — discloses nothing about distributions, and no SEC filing reviewed for this profile addresses how rent is allocated between debt service and investors. The distribution and debt-service sections of the PPM are the controlling text.
How is the Trust capitalized?
With mortgage debt well in excess of investor equity. Sponsor material dated June 20, 2026 and distributed by Baker 1031 Investments reports a total offering of $137,692,566 made up of $23,751,968 of equity and $113,940,598 of debt, an in-place loan-to-value of 82.75%, and financing reported to mature on June 10, 2044. Top1031's filing data records the leverage structure as unknown, and no reviewed SEC filing names the lender or the loan terms, so the debt stack, its maturity and any recourse provisions are confirmed only in the PPM.
Is the offering still open, and what is the minimum investment?
The most recent public filing is a Form D amendment filed June 25, 2026, which reported interests still unsold as of that date; those amounts appear in the sales rows on this page. A Form D records sales as of its filing date and is not a statement of continuing availability, and offerings can fill between filings — one sponsor-distributed offering page dated June 20, 2026 already labeled the offering closed. SEC filings report a $150,000 minimum investment and a first sale on April 27, 2026. Confirm current availability directly with the sponsor or a broker-dealer.
Is there a 721/UPREIT exit?
Nothing on record indicates one. A 721/UPREIT exit is where DST interests are later exchanged for operating-partnership units in a real estate investment trust, converting a direct property position into REIT units. This Trust is not recorded as convertible into REIT interests, and public filings describe no exit plan. Sponsor material puts the lease term out to 2044, so the hold and disposition provisions of the PPM govern what happens and when.
Chapter 9Colliers closes sale of Huntington Tower in downtown DetroitIndustry trade press coverage of the Colliers-brokered sale of Huntington Tower, 2025 Woodward Avenue, Detroit, to a Net Lease Capital Advisors-affiliated DST buyer for a record-setting price. Meet the company that bought Detroit's most expensive office buildingCrain's Detroit Business later identified Net Lease Capital Advisors as the company that bought Huntington Tower in a record-setting Detroit office sale. Huntington Tower in Downtown Detroit Sells for $156M to Undisclosed BuyerDBusiness reported that the Huntington Tower, which opened in 2022, sold for $156 million to an undisclosed buyer. Detroit's most expensive office-building sale ever just closedReports the record $156 million sale of the Huntington Bank tower at 2025 Woodward Avenue in downtown Detroit to Nashua, NH-based Net Lease Capital Advisors; described as the highest-priced office sale in Detroit history.