Legrand AV Regional Headquarters
Industrial property in Minnetonka, MN · sponsored by Syndicated Equities
Active offeringLatest Form D filed Oct 21, 2025 (opens in a new tab)
Legrand AV Regional Headquarters is a DST sponsored by Syndicated Equities that owns an industrial property in Minnetonka, MN (about 98,500 SF). Its latest Form D, filed Oct 21, 2025, lists a $10.7 million offering with a $1,000 minimum.
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $10,750,000Equity offered, per the Form D
- Sold so far
- Form D, Oct 21, 2025; the % is our arithmetic62.3%
- Investors reported
- Form D, Oct 21, 202527
- Selling commissions
- Form D Item 15; the % is our arithmetic$0 · 0.0% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
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
- Oct 21, 2025 · 1 filing
- First sale
- Sep 24, 2025
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
- $6,698,913
- Not yet sold
- $4,051,087
- Investors
- 27
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
62.3% of $10,750,000 sold, calculated by Top1031 from the Form D
See how much of this offering has soldSign in by email and confirm you’re an accredited investor.
Weighing this offering for your exchange? A licensed 1031 specialist from our affiliated partner can go through these filings with you.
Ask a 1031 specialist about this recordFree. About: Legrand AV Regional Headquarters. Top1031 is not a broker-dealer.Legrand AV Regional Headquarters · Minnetonka, MN · Photo: syndicatedequities.com
What does the Trust own?
Buhl Investors sold the flex building to Chicago-based Syndicated Equities for $23 million, Finance & Commerce reported on October 23, 2025. 2 Legrand AV announced the opening of its new headquarters there on October 1, 2025, bringing key functions and product development together in one location. 3 In its Winter 2026 newsletter the sponsor said the building was undergoing a renovation costing more than $4 million. 4
- Property address
- 10900 Red Circle Drive, Minnetonka, MN
- Property size
- ~98,500 SF
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
No recorded mortgage or loan document was located in the record reviewed here, so whether this Trust carries property-level debt is undetermined. A Form D does not require property-level debt disclosure, so its silence is not evidence the property is debt-free — the offering documents delivered to prospective investors would state any loan terms.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $0 · 0.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,331,000 · 21.6% of offeringForm D Item 16
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Sep 24, 2025
- Minimum investment
- $1,000
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.
Who's behind the Trust?
The sponsor is a Chicago-based real estate investment firm, named by Finance & Commerce as the buyer of the Minnetonka building in its October 23, 2025 report. 2 Its Winter 2026 investor newsletter, published in March 2026, lists this investment as having closed on October 16, 2025 — the property purchase, which is a separate event from the offering. 4 The firm says it acquired the property in a Delaware statutory trust structured for cash and 1031-exchange investors. 1
- Sponsor
- Offerings on record
What does the SEC record show?
- Legal Trust name
- SE 10900 Red Circle (Minnetonka), DST
- SEC CIK
- 2091775
- First Form D
- Oct 21, 2025
- Latest Form D
- Oct 21, 2025
- Filings on record
- 1
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $10,750,000 | $6,698,913 | 27 | 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 Legrand AV Regional Headquarters an active offering?
- Legrand AV Regional Headquarters is an Active offering: its latest Form D was filed Oct 21, 2025. 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.
- Who is the tenant at 10900 Red Circle Drive?
- Legrand AV Inc. Syndicated Equities states the facility is 100% leased to Legrand AV Inc. with a guaranty from parent Legrand Holding, Inc., and Finance & Commerce reported on October 23, 2025 that the building was fully leased to Legrand AV as its regional headquarters. Legrand AV announced the opening of the Minnetonka headquarters on October 1, 2025. On tenant news since: rAVe [PUBS] and AVNation carried a Minnetonka-datelined release on July 6, 2026 reporting 18 industry award wins for Legrand | AV at InfoComm 2026, and on September 1, 2026 Inavate APAC and Pro AVL Central reported a new Midwich Asia agreement to distribute Legrand AV products across Asia.
- How long is the lease, and when does it expire?
- Syndicated Equities' Winter 2026 investor newsletter describes a new 10-year lease running through June 2035. That is consistent with the Minneapolis / St. Paul Business Journal's April 28, 2025 report that Legrand had signed a 10-year lease to occupy the entire building in Minnetonka's Opus Business Park. The SEC Form D does not describe lease terms at all; the exact commencement and expiration dates, rent escalations, renewal options and any termination rights are summarized in the offering documents delivered to prospective investors.
- When was the property acquired, and what did it sell for?
- Finance & Commerce reported on October 23, 2025 that Buhl Investors sold the 10900 Red Circle Drive flex property to Syndicated Equities for approximately $23 million, based on a certificate of real estate value. Syndicated Equities' Winter 2026 newsletter lists the acquisition as having closed on October 16, 2025; a third-party property-history listing shows an October 9 sale date, and the two were not reconciled in the record reviewed here. Connect CRE covered the acquisition on October 14, 2025 and AltsWire on October 16, 2025, describing it alongside a $10.75 million DST offering. The property price and the offering size are separate figures and should not be read as the same thing.
- How big is the building?
- Syndicated Equities describes an approximately 98,500-square-foot industrial, research and corporate-office facility, and REBusinessOnline used the same figure in its October 17, 2025 report. Third-party measurements differ in places. The rentable area a buyer of Trust interests would rely on is the one stated in the offering documents.
- Does the Trust use mortgage debt?
- The record reviewed here does not say. No lender, loan amount, interest rate, maturity or loan-to-value was located in the SEC filing or the sponsor materials reviewed, and no recorded mortgage was verified. A Form D describes the securities offered, not a property mortgage, so its silence is not evidence that the property is unlevered — and the gap between the offering size and the reported purchase price should not be read as debt. Any loan terms would appear in the offering documents.
In the news
Sources
Show sources (11)Hide sources (11)
These links support the record as a whole; individual details may come from different sources.
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.