Top1031

SSA – Birmingham

Net lease property in Birmingham, AL · sponsored by Net Lease Capital Advisors

Historical · soldSold · last Form D Mar 3, 2023baker1031.com (opens in a new tab)

SSA – Birmingham was a DST sponsored by Net Lease Capital Advisors that owned a net lease property in Birmingham, AL (587,528 SF). Sold.

How it ended

Sold, result reported by others, not by the sponsor

Sold.

Held
12.2 years

Source: cited report (opens in a new tab)

Net Lease Capital Advisors has 8 active offerings on record →

Key facts

Minimum investment
Not in the Form D
From the Form D
Offering size
$111,338,114
Equity offered, per the Form D
Sold
97.1%
Form D, Mar 3, 2023; the % is our arithmetic
Investors reported
255
Form D, Mar 3, 2023
Selling commissions
$6,357,700 · 5.7% of offering
Form D Item 15; the % is our arithmetic
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(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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: SSA – Birmingham. Top1031 is not a broker-dealer.

What did SSA – Birmingham own?

The eight-story office building was completed in January 2008, certified LEED Silver, and paired with a 1,750-space parking garage. 2 A partnership of Net Lease Capital Advisors, a private investor and Rainier Capital Management bought it from 8th and 14th LLC in October 2009 for $147 million. 2 It houses the Social Security Administration's Southeastern Program Service Center, which SSA lists at 1200 Reverend Abraham Woods Jr. Blvd. 3

Reported location
Birmingham, AL
Property size
587,528 SF

Tenant and lease terms are not in the SEC filings or cited sources.

How was it financed, and what did it cost to sell?

Neither the Form D filings nor the sponsor's property page states a mortgage balance, lender, or loan terms, so the Trust's leverage is not established anywhere in the public record.

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.

Costs and terms from the Form D

Selling commissions
$6,357,700 · 5.7% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$0 · 0.0% of offering
Form D Item 16
Broker-dealers named in the Form D
32 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jun 8, 2022
Minimum investment
Not in the Form D

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.

What does the SEC record show?

The Trust was offered under Rule 506(b), the private-placement exemption that bars general advertising and in practice limits sales to accredited investors the sponsor already knows. A run of amendments updated the running sales tally; the last one reported a first sale on June 8, 2022 and still showed interests unsold. 1

Legal Trust name
GSA Birmingham Government Lease Investors DST
SEC CIK
1931116
First Form D
May 27, 2022
Latest Form D
Mar 3, 2023
Filings on record
7
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestorsMinimum
Form D/A$111,338,114
$108,122,783
255
$0EDGAR
Form D/A$111,338,114
$108,122,783+$15,500,741
255+39
$0was $100,000EDGAR
Form D/A$111,338,114
$92,622,042+$24,861,742
216+62
$100,000EDGAR
Form D/A$111,338,114
$67,760,300+$13,528,650
154+18
$100,000EDGAR
Form D/A$111,338,114
$54,231,650+$45,502,095
136+109
$100,000EDGAR
Form D/A$111,338,114
$8,729,555+$8,729,555
27
$100,000EDGAR
Form D$111,338,114
$0
$100,000EDGAR

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 SSA – Birmingham?
SSA – Birmingham is a Historical offering. Sold.
What does this Trust actually own?
A single-tenant office building in Birmingham, Alabama: the 587,528-square-foot Social Security Administration Southeastern Program Service Center, an eight-story LEED-Silver building completed in January 2008 with a 1,750-space parking garage. The Social Security Administration lists the center at 1200 Reverend Abraham Woods Jr. Blvd.
Who is the tenant?
The U.S. General Services Administration, the federal government's real estate arm, which leases space on behalf of the Social Security Administration. REBusinessOnline reported a 20-year GSA lease on the building at the time of its 2009 sale. No current lease expiration date was found in the public record.
Has any outcome been reported?
Baker 1031 publishes a longer Birmingham property-level track record. The cited sources do not reconcile that record with this issuer’s 2022 first sale, so it is not presented here as a confirmed investor result for this exact Trust.
What is the White Law Group investigation about?
On July 15, 2025, The White Law Group, a plaintiff-side securities law firm, announced it was investigating potential securities-fraud claims involving GSA Birmingham Government Lease Investors DST. That is a law-firm announcement soliciting investor contact, not a regulatory action or a court finding. No primary court or regulator record establishing any claim was identified.

In the news

GSA Birmingham Government Lease Investors, DST: InvestigationAnnounces investigation into potential securities-fraud claims involving GSA Birmingham Government Lease Investors DST, citing the amended Form D showing $111,338,114 total offering, $67,760,300 sold, $43,577,814 remaining, $100,000 minimum investment, Rule 506(b) exemption for this Net Lease Capital Advisors-sponsored single-tenant net-lease DST.
White Law Group ↗
Social Security Building Sold for $147 MillionReports that a partnership of Net Lease Capital Advisors, a private investor and Rainier Capital Management purchased the 587,528-square-foot SSA Southeastern Program Service Center in Birmingham from 8th and 14th LLC for $147 million; the LEED-Silver, eight-story building completed January 2008 is fully leased to GSA for SSA.
REBusiness Online ↗

Sources

Show sources (11)Hide sources (11)

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.