USCIS Headquarters - One Town Center
Office property in Camp Springs, MD · sponsored by Net Lease Capital Advisors
USCIS Headquarters - One Town Center is a DST sponsored by Net Lease Capital Advisors that owns an office property in Camp Springs, MD. Its latest Form D, filed Aug 8, 2025, lists a $295 million offering with a $100,000 minimum.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $295,000,000Equity offered, per the Form D
- Sold so far
- Form D, Aug 8, 2025; the % is our arithmetic60.1%
- Investors reported
- Form D, Aug 8, 2025295
- Selling commissions
- Form D Item 15; the % is our arithmetic$7,497,396 · 2.5% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
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
- Aug 8, 2025 · 15 filings
- First sale
- Dec 28, 2022
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
- $177,512,817
- Not yet sold
- $117,487,183
- Investors
- 295
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
60.1% of $295,000,000 sold, calculated by Top1031 from the Form D
- Average since first sale
- about $5.6 million a month
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Ask a 1031 specialist about this recordFree. About: USCIS Headquarters - One Town Center. Top1031 is not a broker-dealer.USCIS Headquarters - One Town Center · Camp Springs, MD · Photo: powersbrown.com
What does the Trust own?
GSA announced the 15-year lease consolidating U.S. Citizenship and Immigration Services headquarters at this building on August 31, 2017. 1 The Trust holds an interest in that single building rather than a portfolio, and sponsor materials for a separate Net Lease Capital offering, Government Lease Holdings 2 DST, describe a 50% ownership interest in GSA CIS Camp Springs DST. 2
- Property address
- 5900 Capital Gateway Dr (One Town Center), Camp Springs, MD
- Property size
- 574,767 RSF
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 Trust carries mortgage debt, so rent pays the lender before anything reaches investors. Sponsor materials for a related Net Lease offering name Wells Fargo Trust Company as lender on an $82,000,000 Camp Springs loan maturing March 14, 2035. 2
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $7,497,396 · 2.5% 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
- 24 named in the Form D
Show the firms
- Alexander Capital, L.P. · CRD 40077
- American Trust Investment Services, Inc. · CRD 3001
- Arkadios Capital · CRD 282710
- Aurora Securities · CRD 46147
- Cabin Securities, Inc. · CRD 137608
- Cape Securities Inc. · CRD 7072
- Capulent LLC · CRD 155155
- Colorado Financial Service Corporation · CRD 104343
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Great Point Capital LLC · CRD 114203
- IBN Financial Services, Inc. · CRD 42360
- IDB Capital Corp. · CRD 106032
- Innovation Partners LLC · CRD 146344
- Investment Security Corporation · CRD 47536
- Lighthouse Capital Group, LLC · CRD 169135
- McDermott Investment Services, LLC · CRD 154926
- Money Concepts Capital Corp · CRD 12963
- Newbridge Securities Corporation · CRD 104065
- Purshe Kaplan Sterling Investments · CRD 35747
- Saxony Securities, Inc. · CRD 115547
- Stax Capital · CRD 300607
- TCFG Wealth Management, LLC · CRD 164153
- Wealthforge Securities, LLC · CRD 152550
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Dec 28, 2022
- Minimum investment
- $100,000
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 is a Nashua, New Hampshire firm that sponsors DST offerings built around long-term net leases, and this Trust files from that address care of Net Lease Capital Advisors LLC. 3 The same sponsor offers Government Lease Holdings 2 DST, whose executive summary describes a 50% ownership interest in this Trust, meaning two Net Lease vehicles reach the same Camp Springs building. 2
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust reported December 28, 2022 as its offering's date of first sale, about two weeks after the first notice. 3 Later filings are amendments restating the figures against an unchanged offering amount. The exemption used permits general advertising, provided each buyer's accredited status, an income or net-worth test, is verified.
- Legal Trust name
- GSA CIS CAMP SPRINGS DST
- SEC CIK
- 1957612
- First Form D
- Dec 13, 2022
- Latest Form D
- Aug 8, 2025
- Filings on record
- 15
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $295,000,000 | $177,512,817+$39,171,957 | 295+112 | EDGAR | |
| Form D/A | $295,000,000 | $138,340,860+$103,362,427 | 183+108 | EDGAR | |
| Form D/A | $295,000,000 | $34,978,433+$5,580,027 | 75+10 | EDGAR | |
| Form D/A | $295,000,000 | $29,398,406+$2,020,583 | 65+6 | EDGAR | |
| Form D/A | $295,000,000 | $27,377,823+$3,949,032 | 59+9 | EDGAR | |
| Form D/A | $295,000,000 | $23,428,791+$3,833,637 | 50+4 | EDGAR | |
| Form D/A | $295,000,000 | $19,595,154+$4,292,936 | 46+3 | EDGAR | |
| Form D/A | $295,000,000 | $15,302,218+$93,714 | 43+1 | EDGAR | |
| Form D/A | $295,000,000 | $15,208,504+$135,000 | 42+2 | EDGAR | |
| Form D/A | $295,000,000 | $15,073,504+$769,422 | 40 | EDGAR | |
| Form D/A | $295,000,000 | $14,304,082+$3,906,977 | 40+16 | EDGAR | |
| Form D/A | $295,000,000 | $10,397,105+$2,688,620 | 24+3 | EDGAR | |
| Form D/A | $295,000,000 | $7,708,485+$3,049,344 | 21+10 | EDGAR | |
| Form D/A | $295,000,000 | $4,659,141+$4,659,141 | 11 | EDGAR | |
| Form D | $295,000,000 | $0 | EDGAR |
Show all 15 SEC Form D filings
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 USCIS Headquarters - One Town Center an active offering?
- USCIS Headquarters - One Town Center is an Active offering: its latest Form D was filed Aug 8, 2025. 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 does this Trust own?
- An interest in One Town Center, a 574,767-rentable-square-foot office building at 5900 Capital Gateway Drive in Camp Springs, Maryland, used as the headquarters of U.S. Citizenship and Immigration Services. The legal owner is GSA CIS CAMP SPRINGS DST, a Delaware statutory trust. Sponsor materials for a separate Net Lease Capital offering, Government Lease Holdings 2 DST, describe a 50% ownership interest in this Trust.
- Who pays the rent?
- The General Services Administration, which leases space on behalf of federal agencies, is the lessee, and U.S. Citizenship and Immigration Services is the agency that occupies the building. GSA announced a 15-year lease for the USCIS headquarters at this location on August 31, 2017, covering 574,767 rentable square feet. A federal agency directory lists 5900 Capital Gateway Drive as the USCIS main address.
- When does the lease expire?
- A lease schedule in Net Lease Capital's Government Lease Holdings 2 DST executive summary gives the Camp Springs GSA/USCIS lease a January 17, 2020 commencement and a January 16, 2035 initial-term expiration. Those dates are sponsor-stated. Renewal options and any federal termination rights live in the lease document itself and in the offering documents.
- Does the Trust borrow money?
- Yes. The Trust is leveraged, meaning mortgage debt sits ahead of investors and rent services the loan before cash reaches beneficial owners. Net Lease Capital's Government Lease Holdings 2 DST executive summary names Wells Fargo Trust Company as lender on an $82,000,000 Camp Springs loan maturing March 14, 2035, and allocates $41,000,000 of that balance to the separate offering's 50% interest. Those are sponsor-reported figures.
- Can the investment be rolled into a REIT at the end?
- The record shows no 721/UPREIT feature for this Trust, the arrangement in which a DST property is contributed to a real estate investment trust's operating partnership in exchange for units instead of cash. The exit mechanics the sponsor intends, including any sale or refinancing, are described in the offering documents.
- What is the stated minimum investment?
- The Form D filings for GSA CIS CAMP SPRINGS DST state a $100,000 minimum investment accepted from an outside investor. The offering amount reported in those filings is $295,000,000, unchanged across every amendment since the first notice on December 13, 2022.
In the news
Sources
Show sources (5)Hide sources (5)
These links support the record as a whole; individual details may come from different sources.
- U.S. Citizenship and Immigration Services / U.S. General Services Administration ↗
- Net Lease Capital Advisors offering materials (Government Lease Holdings 2 DST Executive Summary), distributed by DST Investments ↗
- U.S. Securities and Exchange Commission (Form D/A, accession 0000932440-25-000022) ↗
- uscis.gov ↗
- sec.gov ↗
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.