SE NG (GILBERT), DST
Other property in Gilbert, AZ — sponsor not disclosed
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
SE NG (Gilbert), DST is a Delaware statutory trust — the vehicle that lets 1031 exchangers hold fractional real estate — formed in 2026 and raising up to $27,855,000 from accredited investors, people who meet SEC income or net-worth tests.1 Sponsor material identifies the asset as an approximately 119,180-square-foot secure facility and lab building in Gilbert, Arizona, fully net leased to Northrop Grumman Systems Corporation.2
Property details are not confirmed yet. The SEC filings below are the current public record.
Show sources (3)Hide sources (3)
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 SEC filing names no property; sponsor material describes a newly constructed two-story Class A building of roughly 119,180 square feet at 1655 West Elliot Road in Gilbert, Arizona, developed between 2022 and 2024 and purchased for $56,128,000.2 A SCIF is a Sensitive Compartmented Information Facility — space built to federal standards for classified work. The Phoenix Business Journal reported on August 31, 2026 that a Syndicated Equities affiliate acquired the property.
- Reported location
- Gilbert, AZ
Who is the tenant, and what's the lease?
Sponsor material reports the building 100% net leased — meaning the tenant, not the Trust, carries property operating costs — to Northrop Grumman Systems Corporation, on a primary term running January 15, 2025 to January 31, 2037, with approximately 3% annual rent escalations and three five-year renewal options.2
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.
- Amount sold
- $12,493,113
- Still available
- $15,361,887
- Investors reported
- 32
- Total offering
- $27,855,000
How is it financed, and what does it pay?
This is a leveraged Trust: sponsor material reports an approximately $33,676,800 non-recourse first mortgage from Old National Bank alongside investor equity, within reported total capitalization of $61,531,800.2 Non-recourse means the lender's remedy runs to the property rather than to investors personally. The same source states the rate was not locked until closing.2
Who's behind it?
The Form D names SE NG (Gilbert) DT, LLC as discretionary trustee, executive officer and promoter, and identifies no sponsor as such.1 Sponsor material attributes the offering to SE NG (Gilbert) Sponsor, LLC, an affiliate of Chicago-based Syndicated Equities Group, LLC, and names SE NG (Gilbert) AM, LLC as asset manager for lease enforcement, reserves, reporting and disposition strategy.2 Syndicated Equities' own property page lists the asset as acquired in 2026 and held in a Delaware Statutory Trust.3
- Sponsor
- Sponsor not disclosedThe filing does not identify a sponsor we can confirm.
- Legal Trust name
- SE NG (GILBERT), DST
- May convert to a REIT
- Not stated
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The record so far rests on the issuer's Form D — the brief notice filed for a private offering exempt from registration — which reports a first sale of interests on July 21, 2026, about a month before the notice reached EDGAR.1 Interests are placed privately, without general advertising.
- 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
Is SE NG (GILBERT), DST still raising money?
Top1031 lists SE NG (GILBERT), DST 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 SE NG (GILBERT), DST?
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 does this Trust own?
The Form D does not name a property. Sponsor material identifies the offering as the Northrop Grumman SCIF & Lab Facility DST, offered of record as SE NG (Gilbert), DST, holding one newly constructed two-story Class A building of approximately 119,180 square feet at 1655 West Elliot Road in Gilbert, Arizona, developed between 2022 and 2024 on roughly 9.4 acres with 289 parking spaces.[2] A SCIF is a Sensitive Compartmented Information Facility — space built to federal standards for handling classified information. The Phoenix Business Journal, writing on August 31, 2026, describes a building at that address as Gilbert Spectrum Building 3 and sizes it at 115,212 square feet on a nine-acre lot, so published square footage is not consistent across sources. The private placement memorandum (PPM), the offering document given to prospective investors, is the controlling description.
Who is the tenant, how long is the lease, and is the tenant in the building?
Sponsor material reports the building 100% net leased to Northrop Grumman Systems Corporation, with a primary term commencing January 15, 2025 and expiring January 31, 2037, approximately 3% annual rent escalations, and three five-year renewal options.[2] Net leased means the tenant bears property operating costs rather than the Trust. The same source states that tenant employees were not scheduled to occupy until August 2026 and that physical occupancy is not a lease requirement; it does not establish actual occupancy.[2] The lease document and the PPM control.
Is this Trust leveraged, and who is the lender?
Yes, according to sponsor material, which reports an approximately $33,676,800 non-recourse first mortgage with Old National Bank or another commercial lender, inside reported total capitalization of $61,531,800 against a $56,128,000 purchase price.[2] The same source describes a 10-year term with interest-only payments for the first 36 months and a 30-year amortization schedule thereafter, and states the interest rate was not locked until closing.[2] No SEC filing on this Trust's record states loan terms; the PPM and loan documents control.
Is the $31.4 million Obra bridge loan reported in July 2026 this property?
No filing connects the two. Commercial Observer reported on July 1, 2026 that Obra Real Estate supplied roughly $31.4 million of bridge debt on Silver Creek Development's 120,294-square-foot Northrop Grumman-leased office property at 1715 West Elliot Road in Gilbert, acquired for $43.1 million in early 2021. That is a different street address, owner and lender than the ones sponsor material gives for this Trust.
Why does no sponsor brand appear on the SEC record?
Because the Form D does not disclose one the way a branded DST program usually does. The filing names SE NG (Gilbert) DT, LLC as discretionary trustee, executive officer and promoter, with Syndicated Equities Interests, LLC as its manager and Syndicated Equities Holdings, LLC above that, but names no sponsor as such.[1] Separate sponsor material attributes the offering to SE NG (Gilbert) Sponsor, LLC, an affiliate of Syndicated Equities Group, LLC, with SE NG (Gilbert) AM, LLC as asset manager.[2]
What is the minimum investment, and is the offering still open?
The Form D filed August 20, 2026 reports a $10,000 minimum accepted from an outside investor and a first sale on July 21, 2026.[1] PPM minimums are often higher than the Form D figure, and sponsors frequently set different thresholds for 1031 exchange money than for all-cash investors. Only one Form D is on record, and a Form D is a snapshot as of its filing date rather than a live availability feed, so confirm current status with the sponsor or a broker-dealer.