Grand Rapids Facility
Industrial net lease property in Grand Rapids, Michigan · sponsored by Secure Properties
Active offeringLatest Form D filed Jul 14, 2026 (opens in a new tab)
Grand Rapids Facility is a DST sponsored by Secure Properties that owns an industrial net lease property in Grand Rapids, Michigan. Its latest Form D, filed Jul 14, 2026, lists a $28.6 million offering with a $25,000 minimum.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $28,621,000Equity offered, per the Form D
- Sold so far
- None reported as of Jul 14, 2026Form D, Jul 14, 2026
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,718,995 · 9.5% 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
- Jul 14, 2026 · 1 filing
No sales reported in a Form D amendment yet. Latest notice Jul 14, 2026.
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Ask a 1031 specialist about this recordFree. About: Grand Rapids Facility. Top1031 is not a broker-dealer.Grand Rapids Facility · Grand Rapids, Michigan · Photo: cf.reverecre.com
What does Grand Rapids Facility own?
Sponsor material distributed by Baker 1031 describes a single-tenant industrial and research-and-development building on roughly 42 acres that a GE entity has occupied since 2007. 1 CoStar reported on August 3, 2026 that Global Net Lease sold the fully leased property for $48.41 million. Crain's Grand Rapids Business reported on August 7, 2026 that it changed hands between two New York firms for about $48 million, without naming the buying entity. 2
- Property address
- 3290 Patterson Ave SE, Grand Rapids, Michigan
- Property size
- ~369,000-square-foot building
How is it financed, and what did it cost to sell?
The Form D discloses no loan terms. Sponsor material describes a leveraged Trust: an Old National Bank mortgage of about $26.8 million inside total capitalization of roughly $55.4 million. 1 A lender is repaid ahead of investors, and DST holders cannot renegotiate a loan themselves.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- May convert to a REIT (721)
Costs and terms from the Form D
- Selling commissions
- $2,718,995 · 9.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $5,398,000 · 18.8% of offeringForm D Item 16· The filing’s note: “Secure Net Lease Depositor II, LLC will be responsible for paying certain fees and costs of approximately $5,398,000”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Orchard Securities, LLC · CRD 133378
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $25,000
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. The issuer marked these amounts as an estimate.
What are the deal terms?
From Secure Properties’ offering documents (Jul 2026).
Your exit
- Can the sponsor's affiliate buy investors out?
- Yes, after 2 years
If an investor doesn't respond: paid in cash (a taxable sale)
Rent and the bills
- Who pays rent to the trust?
- A master tenant affiliated with the sponsor
- Who pays for roof and structural repairs?
- Investors, through the trust
- Who pays if taxes or insurance go up?
- Investors, through the trust
- Was the property bought from a sponsor affiliate?
- No
Your rights
- Can investors remove the manager?
- No
- How are disputes with the sponsor resolved?
- In court
Who's behind Grand Rapids Facility?
Secure Properties is a New York-based net-lease investor that opened its DST platform on January 28, 2026 with Secure Net Lease Industrial I, a $21.9 million offering on a 123,000-square-foot industrial building. AltsWire reported on July 20, 2026 that the debut DST was fully subscribed and that this second Trust had launched. 3 Brian Mansouri is chief executive of the manager, with Kevin Ross and James Gagliano as officers; Orchard Securities, LLC places the interests.
- Sponsor
- Offerings on record
- 1 active / 2 total
What does the SEC record show?
No amendment has been filed since the original notice, so the SEC record speaks only as of that date. Interests are offered under an exemption that permits general advertising, provided the sponsor verifies that every buyer is an accredited investor — someone meeting SEC income or net-worth tests.
- Legal Trust name
- Secure Net Lease Industrial II, DST
- SEC CIK
- 2142445
- First Form D
- Jul 14, 2026
- Latest Form D
- Jul 14, 2026
- Filings on record
- 1
- 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 | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $28,621,000 | $0 | EDGAR |
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 Grand Rapids Facility an active offering?
- Grand Rapids Facility is an Active offering: its latest Form D was filed Jul 14, 2026. 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.
- Does Grand Rapids Facility have a 721 UPREIT exit?
- The record lists a possible 721 exit for Grand Rapids Facility. It is an option, not a completed transaction; the offering documents set whether and when it can happen. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
- How a DST-to-721 UPREIT exit works
- What does this Trust own?
- A single-tenant industrial and research-and-development facility at 3290 Patterson Ave SE in Grand Rapids, Michigan, of approximately 369,000 square feet on about 42 acres, according to sponsor material distributed by Baker 1031. CoStar reported on August 3, 2026 that Global Net Lease sold a fully leased building of that size at that address for $48.41 million. No deed naming the Trust as titleholder was located in the reviewed public record, so the purchase agreement and title documents referenced in the offering documents are where ownership and the closing date are confirmed.
- Who is the tenant and how long is the lease?
- Sponsor material distributed by Baker 1031 identifies the tenant as GE Aviation Systems LLC, with a full corporate guaranty from parent GE Aerospace, and states that GE has occupied the site since 2007, that the lease was renewed for roughly ten years through December 31, 2035, and that rent rises 2.0% a year. CoStar's August 3, 2026 report likewise describes the building as occupied by GE Aerospace through 2035. None of those terms appear in the SEC filing, so the executed lease and the offering documents are where an investor confirms the expiry date, the escalation, renewal rights and any termination options.
- Does the Trust use debt?
- Yes, according to sponsor material distributed by Baker 1031 marked last updated August 17, 2026, which lists total capitalization of $55,410,500 including a $26,789,500 acquisition loan from Old National Bank and in-place leverage of approximately 48.35% loan-to-value. The Form D discloses no lender or loan terms, so the loan documents referenced in the offering documents are the governing record for the interest rate, maturity, amortization, reserves and any recourse or springing guaranties.
- Is the tenant investing in the building?
- Sponsor offering material distributed by Baker 1031 says GE plans to invest more than $14 million in the premises. That is described as planned, and the available sourcing does not establish that any of the work has been completed or who funds which portion. Nothing on the subject appears in the SEC filing, so the lease amendment and the offering documents are where an investor confirms the scope, the funding responsibility and the schedule.
- How does this Trust relate to the sponsor's first DST?
- Secure Properties launched its DST platform on January 28, 2026 with Secure Net Lease Industrial I, a $21.9 million offering backed by a 123,000-square-foot industrial facility. AltsWire reported on July 20, 2026 that the debut DST had been fully subscribed and that Secure Net Lease Industrial II, DST had launched as a follow-on. The two are separate trusts holding separate properties; an investor in one has no interest in the other.
In the news
Sources
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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.