250 Main Street Trust
Commercial property — sponsor not disclosed
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
250 Main Street Trust is a Delaware statutory trust — a structure that lets 1031 exchange investors hold fractional, passive interests in real estate — formed in 2022 with a Baltimore address.1 Independent reporting names it as the buyer of Newark Shopping Center, a grocery- and movie-theater-anchored plaza in downtown Newark, Delaware.2 One Form D is on record, and it names no sponsor.
Show sources (8)Hide sources (8)
These links support the historical public record; 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?
Newark Shopping Center sits at 230 East Main Street in downtown Newark, Delaware — 145,400 square feet of grocery- and movie-theater-anchored retail on 11.9 acres.3 Atlantic Realty Company was reported to have bought the center in 2012 and begun a large-scale renovation, finished roughly seven years before the sale.2 Atlantic sold the property for $33.5 million in September 2022, with 250 Main Street Trust named as the buyer.2
Who is the tenant, and what's the lease?
This is multi-tenant retail rather than a single-tenant net lease, so the income depends on many leases expiring at different times. Delaware Business Times reported the center as 93% occupied with 31 tenants at the September 2022 sale.3 Marketing materials listed tenants including Dollar Tree, Chase Bank, PNC Bank, Goodwill and the Main Street Movies 5 theater.2
How did it end?
No ending on record
The 250 Main Street Trust (CIK 0001971252, Form D filed 4/3/2023) acquired the Newark Shopping Center in Newark, DE from Atlantic Realty for $33.5M in September 2022 (per local press) as a DST for Maryland Financial Investors (MFI); no public full-cycle sale or disposition announcement for this trust could be located.
Form D filed 2023-04-03 (Acc-no 0001971252-23-000001); offering amount up to $15,296,015; $541,948 sold at filing. Industry group: Commercial. Trustee officers Michael Albo (President) and Beverly Dobrochowski (Vice President) of MFI Maryland Financial Investors, Inc. of Baltimore, MD. Underlying property name and address not publicly evidenced; no dated news articles found referencing this trust.
How is it financed, and what does it pay?
The Form D does not say whether the Trust used mortgage debt, and no lender, loan amount or mortgage record surfaced in the public sources reviewed. Nothing in the record establishes the offering as either all-cash or leveraged.
Who's behind it?
No sponsor is named in the Form D. The filing identifies Michael Albo as president and Beverly Dobrochowski as vice president of the Trust's trustee, both associated with MFI Maryland Financial Investors of Baltimore.1 Newark Post reported that property records trace 250 Main Street Trust back to Maryland Financial Investors, a Baltimore-based property-management group.2 MFI Realty's own page for Newark Shopping Center lists 230 East Main Street with space available for lease.4
- Sponsor
- Sponsor not disclosedThe filing does not identify a sponsor we can confirm.
- Legal Trust name
- 250 Main Street Trust
- May convert to a REIT
- No
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The paperwork trail here is thin. A Form D is the brief notice an issuer files when it sells securities privately to accredited investors — people meeting SEC income or net-worth tests — instead of registering a public offering. This one reports a first sale on September 20, 2022.1
- Form D filedFirst and latest filing on record.
- 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
What happened to 250 Main Street Trust?
Top1031 lists 250 Main Street Trust as historical. It is no longer raising money.
Where does Top1031 get the data for 250 Main Street Trust?
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.
What property is behind 250 Main Street Trust?
The SEC Form D does not name a property. Newark Post reported in September 2022 that Atlantic Realty Company sold Newark Shopping Center to 250 Main Street Trust, and Delaware Business Times described the asset as a 145,400-square-foot, grocery- and movie-theater-anchored center on 11.9 acres at 230 E. Main Street in Newark, Delaware, trading for $33.5 million.
Who sponsors this Trust?
No sponsor is disclosed. The Form D lists trustee officers Michael Albo and Beverly Dobrochowski, tied to MFI Maryland Financial Investors of Baltimore, and Newark Post reported that property records trace the trust back to Maryland Financial Investors, described as a Baltimore-based property-management group. The reviewed record does not establish a formal 1031 DST sponsor designation or a broker-dealer distribution platform.
Is there a single tenant with a long-term net lease?
No. The reported asset is a multi-tenant shopping center. Delaware Business Times reported 31 tenants and 93% occupancy at the September 2022 sale, and marketing materials named tenants including Dollar Tree, Chase Bank, PNC Bank, Goodwill, WingStop and a five-screen theater. Current occupancy, rent roll and lease expirations are not established in public sources.
Can I still invest?
Nothing later than the April 3, 2023 Form D appears on record, and no amendment has been filed. The sales figures shown on this page are what the issuer reported in that filing. Because no sponsor is named and current ownership of the property is not confirmed in public sources, anyone considering an interest would need to confirm status directly with the issuer or their own adviser.
What was the minimum investment?
The Form D reported a minimum outside-investor investment of $541,948. That figure is what the issuer stated in the filing; the document does not describe unit pricing, distributions, a targeted hold period, or fees.
What does the public record not tell me about this Trust?
A lot. The Form D omits the property, tenant and lease terms, leverage and lender, use of proceeds, fees, distribution policy and hold period. No 721/UPREIT exit — a swap of DST interests for operating-partnership units in a REIT — is indicated. There is also no dated news reporting on the Trust after the September 2022 acquisition coverage, so current ownership and performance are unresolved.