Kindeva Drug Delivery Global Headquarters
Life sciences industrial in Woodbury, MN — sponsored by NexPoint
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What is this, in one paragraph?
NexPoint Life Sciences III DST is a Delaware statutory trust — a co-ownership structure 1031 exchangers can buy into — holding the Woodbury, Minnesota building that Kindeva Drug Delivery occupies as its global headquarters.1 NexPoint announced the offering on January 16, 2024 and said then that the purchase had not yet closed.3 The Trust is leveraged, is limited to accredited investors, and is still raising.
Minimum investment
$100k
Offering size
$30.7M
How much has sold
91.0%
Financing
Leveraged. This offering reports mortgage debt on the property.
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?
NexPoint describes the building as a distribution, cGMP manufacturing and research-and-development facility built to suit Kindeva Drug Delivery's global headquarters.1 Finance & Commerce reported on October 28, 2022 that Creative Manufacturing Properties bought the Kindeva headquarters for roughly $48 million, with Virtus Real Estate Capital as seller.2 When NexPoint announced this offering on January 16, 2024, it said the acquisition had not yet closed.3
- Property address
- 11200 Hudson Road, Woodbury, MN
- Property size
- 137,811 SF on 11.7 acres (43,565 SF R&D/cGMP space, 2 floors + mezzanine, 250 parking spaces, built 2021)
- Total funding
- $61,961,253Investor money plus any loan.
- Property acquisition cost
- $59,094,426
- Who can invest
- Accredited investors only
Who is the tenant, and what's the lease?
Kindeva is a contract development and manufacturing organization — it makes drugs under contract for other pharmaceutical companies — formed in 2020 when Altaris Capital Partners bought 3M's Drug Delivery Systems business.4 A triple-net lease puts taxes, insurance and building upkeep on the tenant. Baker 1031 reports a 15-year term from 2021 to September 30, 2036, plus three five-year options.5
- Tenant
- Kindeva Drug Delivery L.P. (triple net lease, built-to-suit global HQ)
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.
91.0% reported sold
- Amount sold
- $27,965,695
- Reported unsold
- $2,695,558
- Investors reported
- 92
- Total offering
- $30,661,253
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How is it financed, and what does it pay?
Leveraged means the Trust holds the property subject to a mortgage — debt an exchanger can use to replace debt carried on a relinquished property — and the lender is repaid before investor equity. The filings on record do not name the lender.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- Interest rate
- 4.50% fixed
- Loan term
- 9 years, interest-only through December 2025
- Loan share of total funding
- 50.52%The loan measured against investor money plus the loan.
Who's behind it?
This is the third numbered trust in NexPoint's life-sciences DST series. The Form D names NexPoint Real Estate Advisors IV, L.P. as sponsor of the issuer, while the offering is marketed under the NexPoint brand.6 NexPoint's 1031 exchange page, stated as of March 31, 2026, lists this Trust among its current open offerings.7
- Sponsor
- NexPoint
- May convert to a REIT
- No
- Offerings from this sponsor
- 6 active / 17 total offerings from NexPoint
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The original Form D — the notice an issuer files with the SEC after a first private sale — has been amended repeatedly, each amendment refreshing the running sales and investor tallies. Because the Trust may be offered with general advertising, the sponsor must verify each buyer's accredited status with documentation rather than accept a self-certification.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- NexPoint Life Sciences III DST
- Filings on record
- 17
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- 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 Kindeva Drug Delivery Global Headquarters still raising money?
Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.
Where does Top1031 get the data for Kindeva Drug Delivery Global Headquarters?
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.
Is this Trust still open to new investors?
It has not been reported closed. NexPoint's 1031 exchange page, stated as of March 31, 2026, lists NexPoint Life Sciences III DST under current open offerings, and the most recent Form D amendment on record was filed August 11, 2026. Nothing in the public filings states that the offering is fully subscribed. Availability moves between filings, so only the sponsor or a selling agent can confirm what remains today.
What is the property, and who owned it before?
A life-sciences industrial building at 11200 Hudson Road in Woodbury, Minnesota, in the eastern Twin Cities metro. NexPoint describes it as a distribution, cGMP manufacturing and research-and-development facility built to suit Kindeva Drug Delivery's global headquarters — cGMP being the regulated standard for manufacturing drug products. Kindeva's own facility page describes the Woodbury site as a research, formulation and development facility that also provides regulatory consultation and warehousing. Finance & Commerce reported on October 28, 2022 that Creative Manufacturing Properties bought the Kindeva headquarters for about $48 million, identifying Virtus Real Estate Capital as the seller. NexPoint announced this offering on January 16, 2024 and said at that time its acquisition had not yet closed.
Who is the tenant, and how long is the lease?
Kindeva Drug Delivery L.P., a contract development and manufacturing organization that occupies the building as its global headquarters; Kindeva's facility page lists the Woodbury site at 11200 Hudson Road. Kindeva was formed in 2020 when Altaris Capital Partners acquired 3M's Drug Delivery Systems business and renamed it. Offering materials summarized by Baker 1031 describe a 15-year initial term commencing in 2021 and running to September 30, 2036, with three five-year extension options, and report the building 100% leased to Kindeva as of December 31, 2023; those lease dates are not corroborated in the primary materials reviewed. One building with one tenant means rental income depends entirely on that company; any parent guaranty and the rent schedule are set out in the PPM, the offering's private placement memorandum.
Has anything happened at the tenant's Woodbury site?
Kindeva announced on July 16, 2024 that the FDA inspected its Woodbury analytical services site on April 1–3, 2024, that the site is FDA registered and was classified Voluntary Action Indicated for cGMP, and that a related prior-approval supplement was approved on June 20, 2024. That announcement concerns the tenant's operations, not the Trust or its ownership of the real estate.
How is the property financed?
The Trust holds the property subject to a mortgage. NexPoint reports a loan-to-capitalization ratio of 50.52%, a 4.50% fixed interest rate, and a nine-year loan term with interest-only payments through December 2025. Debt inside a DST can help an exchanger replace debt carried on a relinquished property, but the lender is repaid ahead of investor equity. The public filings reviewed here do not name the lender; the loan documents and their covenants sit in the PPM, the offering's private placement memorandum. Note that a NexPoint brochure states a loan amount of $31,300,000 while the pipeline data records $30,661,253, so the exact principal should be confirmed against the offering documents.
Is there a 721/UPREIT exit?
No. A 721/UPREIT exit is a structure in which a DST's property is later contributed to a REIT's operating partnership in exchange for units, converting the investor's real estate interest into REIT-level securities. The record for this Trust shows no such conversion path, so a sale or refinancing of the single property is what the public filings point toward as an eventual outcome.
Chapter 9NexPoint Launches Life Sciences III DST Offering for CDMO Manufacturing Property in MinnesotaSponsor press release announcing the launch of NexPoint Life Sciences III DST, a ~$31 million Delaware Statutory Trust that acquired a 138,000-sq-ft life-sciences manufacturing property in Woodbury, Minnesota leased to Kindeva Drug Delivery. NexPoint Acquires Mfg. Property for Kindeva Drug DeliveryIndustry article reporting that NexPoint acquired the 138,000-sq-ft global headquarters manufacturing facility for Kindeva Drug Delivery in Woodbury, Minnesota and structured it into a DST offering.