Minimum investment
$100k
Offering size
$30.7M
How much has sold
91.0%
Asset type
Life sciences industrial
Location
Woodbury, MN
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
NexPoint Life Sciences III DST is a Delaware statutory trust — a structure that lets 1031 exchangers own fractional interests in real estate — holding the Woodbury, Minnesota building Kindeva Drug Delivery L.P. occupies as its global headquarters.1 NexPoint announced the offering on January 16, 2024. The Trust holds the property subject to mortgage debt, is sold only to accredited investors, and remains open.
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These links support the public record as a whole; individual details may come from different 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 Woodbury facility was built to suit Kindeva Drug Delivery L.P. as that company's global headquarters.1 Finance & Commerce reported on October 28, 2022 that the Hudson Road property sold for about $48 million; that report identifies neither NexPoint nor this Trust, so it is not evidence of the Trust's own purchase.2 NexPoint announced its acquisition of the property and the DST launch on January 16, 2024.
- 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 drug products for other pharmaceutical companies — and holds the building on a triple-net lease, meaning the tenant carries taxes, insurance and upkeep. Sponsor materials report a 15-year term that commenced in 2021 and runs through September 30, 2036, with three five-year extension options.3
- 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
- Still available
- $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 owns the property subject to a mortgage — debt an exchanger can use to replace debt carried on a relinquished property — and that loan is repaid ahead of investor equity. The SEC filings do not name the lender; the loan agreement and its covenants sit in the PPM, the offering's private placement memorandum.
- 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?
NexPoint runs a family of Delaware Statutory Trusts alongside a broader real estate platform, and this is the third numbered trust in its life-sciences series. The Form D/A filed January 13, 2026 names NexPoint Real Estate Advisors IV, L.P. as sponsor of the issuer.4 NexPoint announced the offering on January 16, 2024, framing it around contract drug-manufacturing real estate. A broker-distributed offering page updated July 31, 2026 still listed the Trust as having equity available.5
- Sponsor
- NexPoint
- Legal Trust name
- NexPoint Life Sciences III DST
- 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 its first private sale — has been amended repeatedly, each amendment refreshing the running sales and investor tallies. Rule 506(c) permits general advertising, so the sponsor must verify each buyer's accredited status rather than take their word for it.
- 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.
- 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?
Top1031 lists Kindeva Drug Delivery Global Headquarters as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
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?
Yes, it is still raising. The most recent Form D amendment on record was filed August 11, 2026, and it reported additional sales and investors compared with the January 13, 2026 amendment. A broker-distributed offering page updated July 31, 2026 also listed equity as still available. Availability moves between filings, so only the sponsor or a selling agent can confirm what remains today.
What is the property, and where is it?
A life-sciences industrial building at 11200 Hudson Road in Woodbury, Minnesota, in the eastern Twin Cities metro. It totals 137,811 square feet on 11.7 acres, was built in 2021, and includes 43,565 square feet of R&D and cGMP space — cGMP being the regulated standard for manufacturing drug products. Sponsor materials describe it as built to suit Kindeva Drug Delivery L.P. as that company's global headquarters.
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. Sponsor materials describe an initial 15-year lease that commenced in 2021 and runs through September 30, 2036, with three five-year extension options, and report the building 100% leased to Kindeva as of December 31, 2023. 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.
Who owned the building before NexPoint?
Finance & Commerce reported on October 28, 2022 that the property at 11200 Hudson Road sold for about $48 million. That report does not name NexPoint or this Trust, so it is not evidence of the Trust's own purchase. NexPoint announced its acquisition of the property and the launch of Life Sciences III DST on January 16, 2024; no deed or closing record was reviewed for this profile, so ask the sponsor for closing documentation if the exact chain of title matters to you.
What is the minimum investment, and who can buy?
Sponsor materials list a $100,000 minimum, payable in cash or with 1031 exchange proceeds. The offering is limited to accredited investors — buyers who meet the SEC's income or net-worth tests — and because it may be offered under Rule 506(c), which permits general advertising, the sponsor is required to verify accredited status with documentation rather than accept a self-certification.
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.