VA Oceanside Holdings DST (Oceanside VA Clinic)
Net lease, likely government/VA facility (unconfirmed) property in Oceanside, CA — sponsored by Net Lease Capital Advisors
Files with the SEC as VA Oceanside Holdings DST
Minimum investment
Not stated
Offering size
$379.3M
How much has sold
10.0%
Asset type
Net lease, likely government/VA facility (unconfirmed) property
Location
Oceanside, CA
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
VA Oceanside Holdings DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional interests in real estate — raising capital against an Oceanside, California address that matches a VA-operated outpatient clinic.1 The Department of Veterans Affairs runs that clinic by scheduled appointment.2 A single Form D is on record, and it names neither the property nor a sponsor.1
Sponsor Net Lease Capital Advisors (Nashua NH); first sale 3/7/2025; $36.3M of $379.3M sold to 1 investor as of 7/2025; no public property ID found
Show sources (5)Hide sources (5)
These links support the public record as a whole; individual details may come from different sources.
Oceanside, CA · exact location not on recordThe filings name the market but not an address we can place on a map.
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?
No SEC filing names the Trust's real estate.1 Net Lease Capital's own property list shows a VA–Oceanside outpatient clinic of 63,536 square feet.3 A California Municipal Finance Authority staff report dated November 6, 2020 describes the Oceanside VA Health Care Center as roughly 77,180 rentable square feet on about 8.4 acres, opened in August 2010, and names Cole of Oceanside CA, LP as the owner — not this Trust.4
- Property address
- 1300 Rancho Del Oro Drive, Oceanside, CA
- Property size
- Not publicly stated (single-tenant government-occupied medical clinic)
Who is the tenant, and what's the lease?
The occupant is the U.S. Department of Veterans Affairs, which runs the site as an outpatient clinic within VA San Diego Health Care.2 The November 6, 2020 CMFA staff report describes a VA/GSA lease expiring August 10, 2030, with a landlord other than this Trust.4 No filing states the Trust's own lease terms.1
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.
10.0% reported sold
- Amount sold
- $36,328,173
- Still available
- $342,985,094
- Investors reported
- 1
- Total offering
- $379,313,267
Not enough filings yet to show a trend.
See how much of this offering has soldSign in by email and confirm you’re an accredited investor.
How is it financed, and what does it pay?
Public filings do not show how the Trust is capitalized; whether it carries mortgage debt or holds the property free of debt is unestablished.1 The November 6, 2020 CMFA staff report describes proposed taxable private-placement bonds of $91,070,000 for the Oceanside center, naming Cole of Oceanside CA, LP as borrower rather than this Trust.4
Who's behind it?
The Form D lists Douglas F. Blough and Bruce S. MacDonald as executive officers and gives the issuer's principal place of business in care of Net Lease Capital Advisors LLC at 10 Tara Boulevard, Suite 501, Nashua, New Hampshire, with Blough signing as manager.1 A published profile of that firm describes a specialty in triple-net-lease and U.S. government-occupied properties, which fits the Trust's name. No retrieved filing designates that firm, or anyone else, as legal sponsor.1
- Sponsor
- Net Lease Capital Advisors
- Legal Trust name
- VA Oceanside Holdings DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 22 total offerings from Net Lease Capital Advisors
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Form D on record is the brief notice an issuer files when it sells securities privately without registering them; here it reports a first sale on March 7, 2025, months before the notice reached the SEC.1 The notice names neither the underlying real estate nor a legal sponsor.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
Is VA Oceanside Holdings DST (Oceanside VA Clinic) still raising money?
Top1031 lists VA Oceanside Holdings DST (Oceanside VA Clinic) 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 VA Oceanside Holdings DST (Oceanside VA Clinic)?
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.
Who occupies the building, and what is known about the lease?
The U.S. Department of Veterans Affairs operates an outpatient clinic at the address on record, providing primary and specialty care by scheduled appointment to San Diego–area veterans. A California Municipal Finance Authority staff report dated November 6, 2020 states that the Government leases the Oceanside VA Health Care Center from Cole of Oceanside CA, LP under a VA/GSA lease expiring August 10, 2030. That record names a landlord other than this Trust, and no public filing sets out the Trust's own lease terms, rent, or renewal rights. Those would appear in the Private Placement Memorandum (PPM), the private offering document a sponsor gives prospective investors.
Who sponsors this Trust?
Not established from the public record. The Form D designates no sponsor. It lists Douglas F. Blough and Bruce S. MacDonald as executive officers and gives the issuer's principal place of business in care of Net Lease Capital Advisors LLC in Nashua, New Hampshire. Published material on that firm describes a focus on triple-net-lease and U.S. government-occupied real estate, which fits the Trust's name, but that is not a filed sponsor designation.
How big is the property, and when did it open?
Sources differ, and none of them names this Trust. Net Lease Capital's property list describes a VA–Oceanside outpatient clinic of 63,536 square feet. A California Municipal Finance Authority staff report dated November 6, 2020 describes the Oceanside VA Health Care Center as approximately 77,180 rentable square feet on approximately 8.4 acres, says it opened in August 2010, and reports approximately 93,000 patient visits in 2019. The Form D itself does not identify the real estate at all.
Does the public record show that the Trust owns the clinic?
No. The Form D does not name any property, and the most recent ownership record retrieved — the California Municipal Finance Authority staff report dated November 6, 2020 — names Cole of Oceanside CA, LP as the owner and borrower for the Oceanside VA Health Care Center. Deed or title transfer to VA Oceanside Holdings DST, along with any acquisition date or price, is not established on the public record.
How is the Trust offered, and who can invest?
It is offered privately under an SEC exemption that prohibits general advertising or public solicitation. In practice, interests are shown to accredited investors — people meeting SEC income or net-worth thresholds — through pre-existing relationships with the sponsor or its broker-dealers, rather than through public marketing.
Is there a 721/UPREIT exit path?
Nothing in the public record indicates one. A 721/UPREIT exit is where a DST's property is contributed to a real estate investment trust in exchange for operating-partnership units. The record here shows no such conversion feature; any exit mechanics would be spelled out in the PPM.
Chapter 9CMFA Completes the Issuance of $89,100,000 in Bonds for VA Oceanside Clinic ProjectCMFA issued $89.1 million in bonds to finance the VA Oceanside Clinic Project (the VA-operated Oceanside VA Health Care Center at 1300 Rancho del Oro Drive, Oceanside, CA — the underlying property of VA Oceanside Holdings DST). Oceanside VA Clinic | VA San Diego Health CareVA facility page describing the Oceanside VA Clinic at 1300 Rancho Del Oro Drive, Oceanside, CA — an outpatient VA-operated clinic providing primary care and specialty services to San Diego-area veterans, consistent with the likely underlying property for a government-tenant net-lease DST.