Huntington Tower (2025 Woodward Avenue, Detroit, MI)
Office property in Detroit, MI · sponsored by Net Lease Capital Advisors
Huntington Tower (2025 Woodward Avenue, Detroit, MI) is a DST sponsored by Net Lease Capital Advisors that owns an office property in Detroit, MI (203,300 square feet). Its latest Form D, filed Jun 25, 2026, lists a $137.6 million offering with a $150,000 minimum.
Key facts
- Minimum investment
- $150,000From the Form D
- Offering size
- $137,692,566Equity offered, per the Form D
- Sold so far
- Form D, Jun 25, 2026; the % is our arithmetic66.9%
- Investors reported
- Form D, Jun 25, 202636
- Selling commissions
- Form D Item 15; the % is our arithmetic$252,693 · 0.1% of offering
- Financing
- Zero coupon. Cash flow from the property goes to servicing the debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
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 →
Sales so far
- Latest Form D
- Jun 25, 2026 · 3 filings
- First sale
- Apr 27, 2026
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $92,234,640
- Not yet sold
- $45,457,926
- Investors
- 36
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
66.9% of $137,692,566 sold, calculated by Top1031 from the Form D
- Average since first sale
- about $47.5 million a month
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Ask a 1031 specialist about this recordFree. About: Huntington Tower (2025 Woodward Avenue, Detroit, MI). Top1031 is not a broker-dealer.Huntington Tower (2025 Woodward Avenue, Detroit, MI) · Detroit, MI · Photo: crainsdetroit.com
What does the Trust own?
Huntington Tower stands at 2025 Woodward Avenue in downtown Detroit, with a structured garage of roughly 319 parking spaces. 1 Colliers announced the building's $156 million sale by The Herrick Company on March 11, 2026. 3 Crain's Detroit Business identified Net Lease Capital Advisors as the buyer. 4 A sponsor affiliate took the fee interest that day and was later converted into the trust that owns the tower and garage. 2
- Reported location
- Detroit, MI
- Property size
- 203,300 square feet
Tenant and lease terms are not in the SEC filings or cited sources.
How have sales gone?
The sponsor’s own numbers, with the caveat in Sales so far ↑.
How is it financed, and what did it cost to sell?
The memorandum splits the offering into cash proceeds and allocated mortgage debt. 2 It describes the lease as producing no cash flow for beneficial owners during the program, the zero-coupon shape in which rent services the loan, and warns that foreclosure could cost an investor the whole investment. 2
Debt
- Financing
- Zero coupon. Cash flow from the property goes to servicing the debt.
Costs and terms from the Form D
- Selling commissions
- $252,693 · 0.1% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 8 named in the Form D
Show the firms
- 1031 Securities Inc. · CRD 326590
- Arkadios Capital · CRD 282710
- Aurora Securities · CRD 46147
- Cabin Securities, Inc. · CRD 137608
- Capulent LLC · CRD 155155
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- RCX Capital Group, LLC · CRD 114290
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Apr 27, 2026
- Minimum investment
- $150,000
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.
Who's behind the Trust?
Net Lease Capital Advisors packages single-tenant, net-leased buildings as Section 1031 replacement property, the asset an exchange investor buys to defer tax. The memorandum names it as this Trust's sponsor. 2 Crain's Detroit Business profiled the firm on March 24, 2026 as the buyer behind Detroit's most expensive office-building sale. 4 Investors sit a level up from the real estate: this Trust holds all beneficial interests in NLC Financial Service HQ Owner DST, which owns the tower and garage. 2
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust claimed its private-placement exemption on its first Form D, the brief SEC notice an issuer files for that purpose, and has filed amendments since; the first sale was dated April 27, 2026. 5 Rule 506(b) bars general advertising, so the Trust is not publicly marketed.
- Legal Trust name
- NLC Financial Service HQ DST
- SEC CIK
- 2127324
- First Form D
- Apr 8, 2026
- Latest Form D
- Jun 25, 2026
- Filings on record
- 3
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $137,692,566 | $92,234,640+$70,326,651 | 36+28 | EDGAR | |
| Form D/A | $137,692,566 | $21,907,989+$21,907,989 | 8 | EDGAR | |
| Form D | $137,692,566 | $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
- Is Huntington Tower (2025 Woodward Avenue, Detroit, MI) an active offering?
- Huntington Tower (2025 Woodward Avenue, Detroit, MI) is an Active offering: its latest Form D was filed Jun 25, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- What exactly does this Trust own?
- Huntington Tower, the office building at 2025 Woodward Avenue, Detroit, Michigan 48226, together with its structured parking garage. The offering documents say the Trust holds all beneficial interests in a second Delaware statutory trust, NLC Financial Service HQ Owner DST, which owns the property. Baker 1031 Investments' offering page says the memorandum describes a 421,481-square-foot tower and a garage with roughly 319 spaces. The memorandum also states that the sponsor offered 79.30% of the Trust's beneficial interests, with one or more third parties holding the remaining 20.70%.
- Who is the tenant, and how long is the lease?
- The Huntington National Bank. The memorandum reports the property 100% leased to the bank under a triple-net lease, in which the tenant rather than the landlord bears taxes, insurance and maintenance. The initial term runs January 1, 2022 through June 30, 2044, with four successive seven-year tenant renewal options. Huntington Bancshares Incorporated, the bank's parent, guarantees the lease.
- Does this Trust pay current distributions?
- The memorandum describes the lease as not generating cash flow for beneficial owners during the program, the pattern commonly called a zero cash flow DST, in which rent goes to servicing the property loan rather than to investors. The same document warns that a loan default and foreclosure could cause an investor to lose the entire value of the investment. The distribution, debt service and risk factor sections of the memorandum carry the controlling language.
- How is the purchase capitalized?
- The memorandum states a maximum transaction amount of $137,692,566 for the 79.30% interest offered, made up of $23,751,968 in maximum cash proceeds and $113,940,598 in allocated mortgage debt, a stated 82.75% debt share, so the headline figure includes debt and is not an all-cash equity raise. For 100% of the beneficial interests, the memorandum contemplates an aggregate transaction price of $173,635,014, funded by $29,952,040 in expected equity contributions and $143,682,974 in debt.
- Who sold the building, and when did the sponsor buy it?
- The Herrick Company sold it. Colliers announced a $156 million sale of Huntington Tower at 2025 Woodward Avenue on March 11, 2026 and identified Herrick as the seller. The memorandum says sponsor affiliate NLC Financial Service HQ Owner LLC acquired the fee interest in the property that same day and was afterward converted into the property-owning Delaware statutory trust. Crain's Detroit Business named Net Lease Capital Advisors LLC as the buyer on March 24, 2026 and reported the $156 million price.
- What is the minimum investment, and how may the interests be offered?
- The Form D filings list a $150,000 minimum investment from an outside investor. The offering claims the Rule 506(b) exemption, which permits sales to accredited investors, those meeting SEC income or net worth tests, without general solicitation or public advertising. The first Form D was filed April 8, 2026, with amendments on May 26, 2026 and June 25, 2026.
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.