NLCA GSA Baltimore DST
in Baltimore, MD · sponsored by Net Lease Capital Advisors
NLCA GSA Baltimore DST, sponsored by Net Lease Capital Advisors, filed its first Form D with the SEC on Nov 10, 2021 for a $40.6 million offering. Its last Form D was filed Jan 5, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed Jan 5, 2022.
Net Lease Capital Advisors has 8 active offerings on record →
Key facts
- Minimum investment
- $0From the Form D
- Offering size
- $40,625,951Equity offered, per the Form D
- Sold
- 18.8%Form D, Jan 5, 2022; the % is our arithmetic
- Investors reported
- Form D, Jan 5, 202220
- Selling commissions
- Form D Item 15; the % is our arithmetic$11,974 · 0.0% of offering
- 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 →
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Ask a 1031 specialist about this recordFree. About: NLCA GSA Baltimore DST. Top1031 is not a broker-dealer.What did NLCA GSA Baltimore DST own?
Neither of the Trust's two Form D filings identifies a property address, asset type, or square footage, so the building behind this offering cannot be established from the public record. 1 Net Lease Capital's own property page lists an "SSA – Baltimore" asset in Baltimore, Maryland, at 538,000 square feet, but no filing connects that listing to this Trust or its SEC identifier. 2
- Reported location
- Baltimore, MD
How was it financed, and what did it cost to sell?
Neither Form D discloses mortgage debt, a lender, or leverage, so whether this Trust was capitalized with financing or all cash cannot be determined from the public record. 1
Costs and terms from the Form D
- Selling commissions
- $11,974 · 0.0% 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
- 1 named in the Form D
Show the firms
- Great Point Capital LLC · CRD 114203
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Dec 2, 2021
- Minimum investment
- $0
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 NLCA GSA Baltimore DST?
Net Lease Capital Advisors sponsors net-lease real estate programs from Nashua, New Hampshire, the contact address listed on this Trust's Form D, which names Douglas F. Blough and Bruce S. MacDonald as executive officers, with MacDonald signing the notice. 1 On May 24, 2024, The White Law Group, a securities law firm, published a securities investigation notice referencing the Trust and the offering amount shown in its Form D.
- Sponsor
- Offerings on record
What does the SEC record show?
Net Lease Capital Advisors filed the original Form D — the short SEC notice of an exempt private offering — for this Trust, then amended it once to report sales; that amendment states the first sale occurred December 2, 2021. 1 The offering is made under Rule 506(b), which bars general advertising and public solicitation.
- Legal Trust name
- NLCA GSA BALTIMORE DST
- SEC CIK
- 1892908
- First Form D
- Nov 10, 2021
- Latest Form D
- Jan 5, 2022
- Filings on record
- 2
- 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 | $40,625,951 | $7,674,909+$7,674,909 | 20 | EDGAR | |
| Form D | $40,625,951 | $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 NLCA GSA Baltimore DST?
- NLCA GSA Baltimore DST is a Historical offering. Last Form D filed Jan 5, 2022.
- What property does NLCA GSA Baltimore DST own?
- The public record does not say. Net Lease Capital lists an SSA–Baltimore, Maryland asset of 538,000 square feet on its own website, but nothing in the SEC filings ties that listing to this Trust. The offering documents are the only place to settle it.
- Is the tenant a federal government agency?
- Not established. The legal trust name includes "GSA," a reference to the U.S. General Services Administration, which leases space for federal agencies, but no filing names a tenant, states a lease term, or confirms federal occupancy. Treat the tenant as unverified until the offering documents and lease abstract are reviewed.
- How large is the offering?
- The Form D amendment signed January 4, 2022 reported a total offering amount of $40,625,951. That figure is filed by the issuer; the SEC does not verify it. The White Law Group cited the same amount in its May 24, 2024 notice about the Trust.
- What is the White Law Group notice about?
- The White Law Group, a securities law firm, published a page dated May 24, 2024 headlined "NLCA GSA Baltimore DST: Securities Investigation," reporting that SEC filings showed the Trust filed a Form D and stating the purported total offering amount. The publication is a law firm notice, not a regulatory action or finding against the Trust.
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.