VA Oceanside Holdings DST (Oceanside VA Clinic)
Net lease, likely government/VA facility (unconfirmed) property in Oceanside, CA — sponsored by Net Lease Capital Advisors
Sponsor Net Lease Capital Advisors (Nashua NH); first sale 3/7/2025; $36.3M of $379.3M sold to 1 investor as of 7/2025; no public property ID found
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These links support the public record as a whole; individual details may come from different sources.
What is this, in one paragraph?
VA Oceanside Holdings DST is a Delaware statutory trust — a structure letting 1031 exchangers hold fractional real estate interests — selling interests privately to accredited investors, those meeting SEC income or net-worth tests.1 Its name points to the Oceanside VA Clinic, which the U.S. Department of Veterans Affairs operates in Oceanside, California.2 No filing on record names the Trust's property.1
Minimum investment
Not stated
Offering size
$379.3M
How much has sold
10.0%
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited 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?
The facility opened in August 2010 as the Oceanside VA Health Care Center.2 A California Municipal Finance Authority staff report describes a financing whose purpose was refinancing the acquisition, construction, improvement and equipping of that center, an activity it classifies as a VA health-care-center facilities lease.3 The Trust's own Form D names no property, so the public record does not establish that this Trust owns the clinic.1
- Property address
- 1300 Rancho Del Oro Drive, Oceanside, CA
- Property size
- Not publicly stated (single-tenant government-occupied medical clinic)
Who is the tenant, and what's the lease?
The occupant is the U.S. Department of Veterans Affairs, which runs the site as an outpatient clinic within the San Diego VA Healthcare System.2 No filing on record states the lease term, rent, escalators, or renewal rights, or whether the VA leases directly from the Trust — those would sit in the PPM, the private offering document.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.
10.0% reported sold
- Amount sold
- $36,328,173
- Reported unsold
- $342,985,094
- Investors reported
- 1
- Total offering
- $379,313,267
Not enough filings yet to show a trend.
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How is it financed, and what does it pay?
No filing on record shows whether the Trust holds the property all-cash or with mortgage debt, and none names a lender.1 Separately, the California Municipal Finance Authority announced completion of $89.1 million in bonds for the VA Oceanside Clinic Project; that announcement does not identify this Trust as borrower or owner.2
Who's behind it?
Net Lease Capital Advisors works from Nashua, New Hampshire, and presents itself as a specialist in triple-net-lease and U.S. government-occupied real estate — buildings leased to federal agencies. The Form D lists the issuer in care of Net Lease Capital Advisors LLC at 10 Tara Boulevard, Suite 501, and names Douglas F. Blough as a manager; the notice itself designates no legal sponsor.1 The firm's published property list includes a VA–Oceanside outpatient clinic, though that listing alone does not establish that this Trust owns it.5
- Sponsor
- Net Lease Capital Advisors
- 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?
A Form D is the short notice an issuer files when it sells securities privately without registering them; the exemption claimed here bars general advertising, so interests reach investors through pre-existing relationships rather than public marketing.1 The notice reports a first sale on March 7, 2025, months before it reached EDGAR.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- VA Oceanside Holdings DST
- Filings on record
- 1
- 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 VA Oceanside Holdings DST (Oceanside VA Clinic) still raising money?
The sponsor’s SEC filings show the offering raising money within the past 15 months. A filing does not by itself confirm you can still buy in.
Where does Top1031 get the data for VA Oceanside Holdings DST (Oceanside VA Clinic)?
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.
Who occupies the building, and what is known about the lease?
The U.S. Department of Veterans Affairs operates the Oceanside VA Clinic at 1300 Rancho del Oro Drive, Oceanside, California, within the San Diego VA Healthcare System. A California Municipal Finance Authority staff report on the Oceanside VA Health Care Center describes the underlying activity as a VA health-care-center facilities lease. Beyond that, the public record reviewed does not establish the lease term, rent, escalators, renewal options, or whether the VA leases directly from this Trust. Those terms would appear in the Private Placement Memorandum, the private offering document a sponsor gives prospective investors.
Does the public record show that the Trust owns the clinic?
Not directly. The Trust's Form D identifies no property, and no deed or acquisition record tying VA Oceanside Holdings DST to the Oceanside clinic surfaced in the research reviewed. Net Lease Capital Advisors — listed as the issuer's care-of address — publishes a properties list that includes a VA–Oceanside outpatient clinic, but that listing by itself does not establish that this Trust holds title. The Trust's acquisition date and price are not established in the public record reviewed.
How big is the property?
The Form D states no size, which is why the size row reads as not publicly stated. Net Lease Capital Advisors' published properties list describes a VA–Oceanside outpatient clinic in Oceanside, California of 63,536 square feet. That figure comes from sponsor marketing material, not from a filing, and it is not tied to this Trust in any record reviewed.
Is there mortgage debt on the Trust?
Unknown from the public record. The Form D does not say whether the Trust is leveraged or all-cash and names no lender. Leverage matters to a 1031 exchanger because replacement-property debt affects whether the exchange replaces debt retired on the relinquished property, so it is a PPM question. Separately, the California Municipal Finance Authority announced completion of $89,100,000 in bonds for the VA Oceanside Clinic Project; that record does not identify this Trust as borrower, owner, or obligor, and the reviewed record does not establish whether that debt encumbers the Trust.
Is there a 721/UPREIT exit path?
Nothing in the tracked record indicates one, and the record shows no REIT conversion feature for this Trust. A 721/UPREIT exit is where a DST's property is contributed to a real estate investment trust in exchange for operating-partnership units, converting a direct real estate interest into REIT-level units. Any exit mechanics for this Trust would be spelled out in the PPM.
What does the single Form D actually establish?
It establishes the issuer's legal identity as a Delaware statutory trust organized in Delaware in 2024 under SEC CIK 0002058400, a principal address in care of Net Lease Capital Advisors LLC at 10 Tara Boulevard, Suite 501, Nashua, New Hampshire, Douglas F. Blough as a manager, a first sale dated March 7, 2025, and reliance on Rule 506(b) — the private-placement exemption that bars general solicitation. It names no underlying real estate, no tenant, no lease, no lender, and no debt. Because it is the only filing on EDGAR, everything it reports is issuer-reported as of July 17, 2025 rather than a verified current figure.
Chapter 9CMFA Completes the Issuance of $89,100,000 in Bonds for VA Oceanside Clinic ProjectCMFA issued $89.1 million in bonds to finance the VA Oceanside Clinic Project (the VA-operated Oceanside VA Health Care Center at 1300 Rancho del Oro Drive, Oceanside, CA — the underlying property of VA Oceanside Holdings DST). Oceanside VA Clinic | VA San Diego Health CareVA facility page describing the Oceanside VA Clinic at 1300 Rancho Del Oro Drive, Oceanside, CA — an outpatient VA-operated clinic providing primary care and specialty services to San Diego-area veterans, consistent with the likely underlying property for a government-tenant net-lease DST.