1201 Industrial
Industrial property in North Kansas City, MO · sponsored by SR Realty Trust
1201 Industrial was a DST sponsored by SR Realty Trust that owned an industrial property in North Kansas City, MO. Its last Form D was filed Jul 16, 2025.
How it ended
No outcome recorded · under 7 years
Last Form D filed Jul 16, 2025.
Key facts
- Minimum investment
- $500,000From the Form D
- Offering size
- $17,230,000Equity offered, per the Form D
- Sold
- 21.1%Form D, Jul 16, 2025; the % is our arithmetic
- Investors reported
- Form D, Jul 16, 20251
- Selling commissions
- Form D Item 15; the % is our arithmetic$0 · 0.0% 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 →
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Ask a 1031 specialist about this recordFree. About: 1201 Industrial. Top1031 is not a broker-dealer.1201 Industrial · North Kansas City, MO · Photo: srrealtytrust.com
What did 1201 Industrial own?
The Trust's subsidiary SRRT 1201 Industrial, LLC bought the two adjoining parcels from Wagner Industries, LLC on or about May 22, 2025 for a stated $29,500,000, according to the offering documents. 1 SR Realty Trust announced the closing on June 11, 2025 as a $32.9 million Kansas City industrial portfolio and the platform's fourth Delaware statutory trust. 2 The sponsor's offering brochure described the portfolio as 100% leased and occupied. 3
- Property address
- 1110 Quebec Street; 1201 E 12th Avenue, North Kansas City, MO
- Property size
- ~500,000 SF industrial building plus adjacent United Rentals facility and ~12 acres of excess land
How was it financed, and what did it cost to sell?
The Trust is leveraged rather than all-cash: the memorandum describes a fixed-rate acquisition loan from Bridgewater Bank secured by the property itself. 1 A lender's claim sits ahead of investor equity, so an uncured default could put the property at risk of foreclosure.
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
- $0 · 0.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Jun 13, 2025
- Minimum investment
- $500,000
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.
What are the deal terms?
From SR Realty Trust’s offering documents (May 2025).
Your exit
- Can the sponsor's affiliate buy investors out?
- Yes, after 2 years
From earlier of sellout or offering end. No reply: REIT units
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?
- Only for cause
Who's behind 1201 Industrial?
SR Realty Trust sponsors the offering through SRRT Properties, LP, an affiliate of Schafer Richardson. 1 The sponsor also invested in the Trust itself and has been selling down that position: it reported five third-quarter 2025 sales of portions of its own investment for $1.99 million in cash — trust interests, not the building — and 67% ownership as of September 30, 2025. 5 On July 2, 2026 it posted a platform-level supplement to its January 2026 memorandum carrying 2025 audited financials.
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust's SEC record is the Form D — the brief notice an issuer files after its first sale, not a document the SEC reviews for accuracy — and the issuer reported June 13, 2025 as that first sale. 4 It is offered under the private-placement exemption that permits general advertising, provided the sponsor verifies each buyer's accredited status.
- Legal Trust name
- SRRT 1201 Industrial DST
- SEC CIK
- 2077192
- First Form D
- Jul 16, 2025
- Latest Form D
- Jul 16, 2025
- 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 | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $17,230,000 | $3,643,581 | 1 | 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
- What happened to 1201 Industrial?
- 1201 Industrial is a Historical offering. Last Form D filed Jul 16, 2025.
- Does 1201 Industrial have a 721 UPREIT exit?
- The record lists a possible 721 exit for 1201 Industrial. The offering documents set whether and when it could 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 actually own?
- Two adjoining industrial parcels in North Kansas City, Missouri. The offering documents describe improvements of approximately 483,725 square feet at 1201 East 12th Avenue and approximately 16,287 square feet at 1110 Quebec Street, held through the Trust's wholly owned subsidiary, SRRT 1201 Industrial, LLC. SR Realty Trust's June 11, 2025 announcement also described an adjacent United Rentals facility and roughly 12 acres of excess land. Investors hold beneficial interests in the Delaware statutory trust, not a deed to the dirt.
- Who are the tenants, and what do the leases say?
- Wagner Industries, LLC leased back the 1201 East 12th Avenue building under a May 22, 2025 lease; the memorandum states $1,934,900 in annual rent and an anticipated May 31, 2035 expiration, and the lease provides four successive five-year extension options. The memorandum identifies United Rentals Realty, LLC as lessee of the Quebec Street building at $236,850 annual rent, anticipated to expire March 31, 2029 with two five-year renewal options, and a billboard lease to The Lamar Companies at $21,000 annual rent anticipated to expire November 30, 2026. The sponsor's brochure reported 9.70 years of weighted-average remaining lease term. Those are dated sponsor statements; the current leases and offering documents govern.
- Is there debt on the property?
- Yes. The memorandum states that Bridgewater Bank provided $15,750,000 of property-secured acquisition indebtedness at a fixed 6.21% annual interest rate. The sponsor's brochure advertised 48% loan-to-value without specifying the valuation denominator, so it is a marketing metric rather than a ratio you can derive from the $15,750,000 loan and the $29,500,000 stated purchase price. Research as of October 2, 2026 did not establish the current loan balance, maturity or any repayment or extension; the loan documents and the current offering documents control.
- How large is the offering, and what is the minimum investment?
- The Form D filed July 16, 2025 reports a $17,230,000 total offering of trust interests and a stated minimum investment of $500,000, which sponsors commonly reserve the right to waive. That offering figure is the amount of beneficial interests being sold to investors and is a separate measure from the $29,500,000 property purchase price stated in the memorandum. The offering is made under Rule 506(c), the private-placement exemption that allows general advertising provided the sponsor takes reasonable steps to verify that every purchaser is an accredited investor.
- Has anything notable happened since the acquisition?
- The Kansas City Business Journal reported on December 15, 2025 that Wagner Logistics, based at 1201 E. 12th Avenue, acquired a Dawson unit and expanded its warehouse network, and the Greater Kansas City Chamber of Commerce reported that Wagner is marking its 80th anniversary with an open house scheduled for September 2, 2026 at that address. SR Realty Trust's November 2025 newsletter referenced the property, and on July 2, 2026 the sponsor posted a platform-level memorandum supplement carrying 2025 audited financials. That supplement reports five third-quarter 2025 sales of portions of the sponsor's own interest in this Trust for $1.99 million in cash, after which it owned 67% of the Trust.
In the news
Sources
Show sources (9)Hide sources (9)
These links support the record as a whole; individual details may come from different sources.
- Sponsor offering documents, May 2025
- Schafer Richardson / SR Realty Trust press release ↗
- Sponsor offering documents
- U.S. Securities and Exchange Commission — Form D ↗
- Sponsor offering documents, Sep 2025
- Sponsor offering documents, May 2025
- Sponsor offering documents, May 2025
- srrealtytrust.com ↗
- sec.gov ↗
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.