Legrand AV Regional Headquarters
Industrial / R&D and corporate office (single-tenant net lease) property in Minnetonka, MN — sponsored by Syndicated Equities
100% leased to Legrand AV Inc (Legrand Holding guaranty); Form D 10/21/25: $6.70M of $10.75M sold; min $1,000
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These links support the public record as a whole; individual details may come from different sources.
What is this, in one paragraph?
Legrand AV Regional Headquarters is a Delaware Statutory Trust (DST) — the structure 1031 exchange investors use to hold fractional interests in a single property — sponsored by Syndicated Equities. It holds a single-tenant industrial, research and corporate office building in Minnetonka, Minnesota, fully leased to Legrand AV Inc. under a net lease guaranteed by parent Legrand Holding, Inc.1 The Trust is raising.
Minimum investment
$1k
Offering size
$10.8M
How much has sold
62.0%
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited 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?
Legrand | AV opened the building as its new headquarters on October 8, 2025, bringing multiple company functions together at one site.4 Days later, Buhl Investors sold the fully leased property to Chicago-based Syndicated Equities for $23 million, Finance & Commerce reported on October 23, 2025.3 Syndicated Equities' Winter 2026 investor newsletter describes a renovation of the building costing more than $4 million.2
- Property address
- 10900 Red Circle Drive, Minnetonka, MN
- Property size
- ~98,500 SF
Who is the tenant, and what's the lease?
Legrand AV Inc. occupies the entire building under a net lease — the tenant, not the Trust, carries property operating costs — with parent Legrand Holding, Inc. guaranteeing the rent obligation.1 The sponsor's Winter 2026 investor newsletter describes a new 10-year lease running through June 2035.2
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.
62.0% reported sold
- Amount sold
- $6,698,913
- Reported unsold
- $4,051,087
- Investors reported
- 27
- Total offering
- $10,750,000
Not enough filings yet to show a trend.
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How is it financed, and what does it pay?
No lender or loan amount appears in the record reviewed here; the Form D listed equity and pooled investment fund interests and did not flag debt securities.5 A Form D need not disclose property-level debt, so silence is not proof the Trust is unlevered — the PPM, the private placement memorandum given to prospective investors, would say.
Who's behind it?
Syndicated Equities is a Chicago-based real estate investment firm that is both the sponsor of this Trust and the buyer of record for the building.3 Connect CRE covered the purchase on October 14, 2025, and AltsWire reported it on October 16, 2025 as the basis for a DST offering. The firm's Winter 2026 investor newsletter lists the acquisition as closing on October 16, 2025 — the property purchase, not the offering.2 The sponsor says it structured the deal for both cash and 1031 exchange investors.1
- Sponsor
- Syndicated Equities
- May convert to a REIT
- No
- Offerings from this sponsor
- 4 active / 10 total offerings from Syndicated Equities
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Form D on record is an original notice rather than an amendment, and it reports a first sale on September 24, 2025.5 The exemption claimed bars general solicitation, so interests reach accredited investors — those meeting SEC income or net-worth tests — through pre-existing relationships.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- SE 10900 Red Circle (Minnetonka), DST
- 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 Legrand AV Regional Headquarters still raising money?
Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.
Where does Top1031 get the data for Legrand AV Regional Headquarters?
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 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. Legrand | AV opened the Minnetonka building as its new headquarters on October 8, 2025. On July 6, 2026, trade outlets rAVe [PUBS] and AVNation carried a Minnetonka-datelined release reporting that Legrand | AV won 18 industry awards at InfoComm 2026 across its Da-Lite, Chief and cloud platform lines; on September 1, 2026, Inavate APAC and Pro AVL Central reported a new Midwich Asia distribution agreement for Legrand AV products.
How long is the lease, and when does it expire?
Syndicated Equities' Winter 2026 investor newsletter describes a new 10-year lease with Legrand AV Inc. running through June 2035, and Finance & Commerce described the lease as long-term in its October 23, 2025 report on the sale. The SEC Form D does not describe lease terms, and the sponsor materials reviewed state the net lease and the Legrand Holding, Inc. guaranty without an escalation schedule, renewal options or termination rights. Those provisions are summarized in the Private Placement Memorandum (PPM) 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 $23 million. Syndicated Equities' Winter 2026 newsletter lists the acquisition as closed on October 16, 2025. The sponsor's acquisition announcements, covered by Connect CRE on October 14, 2025 and AltsWire on October 16, 2025, did not state a price. The $23 million purchase price is a separate figure from the size of the Trust's offering.
Does the Trust use mortgage debt?
The public record reviewed here does not say. Neither the Form D nor the sponsor materials reviewed name a lender, loan amount, interest rate, maturity or loan-to-value. The Form D identified equity and pooled investment fund interests as the securities offered and did not flag debt. A Form D does not require property-level debt disclosure, so its silence is not evidence that the property is unlevered; any debt terms would appear in the PPM delivered to prospective investors.
What work has been done to the building?
REBusinessOnline reported on October 17, 2025 that the property was undergoing a renovation costing more than $4 million, and Syndicated Equities' Winter 2026 investor newsletter likewise describes a renovation of more than $4 million. Legrand | AV held its grand opening at the site on October 8, 2025. No source reviewed here reports whether all renovation work is complete, or gives a completion date.
Is this Trust still open to new investors?
The Form D filed October 21, 2025 reported the offering as partly sold with an amount still remaining; those figures appear in the sales rows on this page. No later amendment or closing notice for this issuer was located in the materials reviewed as of September 6, 2026, and those materials do not confirm whether interests remained available on that date. The sponsor lists the underlying property acquisition as closed, which is a different thing from the offering being closed. Current availability should be confirmed with Syndicated Equities.
Chapter 9Legrand AV Celebrates Grand Opening of New Headquarters in MinnetonkaLegrand AV announces the grand opening of its new regional headquarters in Minnetonka, MN, part of its growth strategy bringing together key functions and product development. Legrand | AV Wins 18 Awards at InfoComm 2026Trade-publication syndication of the same MINNETONKA-datelined press release about Legrand | AV (the DST's tenant) sweeping 18 InfoComm 2026 awards across the Da-Lite Myriad Reveal screen, Unified Cloud Platform, Chief Tempo flat-panel mount and Chief Velocity outdoor pedestal. Winter Access 2026 NewsletterSyndicated Equities' Winter 2026 sponsor newsletter references the Legrand AV Regional Headquarters acquisition closing on 10/16/25 as a closed investment. Syndicated Equities Announces Minnesota Acquisition for $10.75M DST OfferingAltsWire reports Syndicated Equities acquired the Legrand AV Global Headquarters in Minnetonka, MN for a $10.75M Delaware Statutory Trust offering. Syndicated Equities Group Acquires Headquarters Property in MinnesotaConnect CRE reports Syndicated Equities acquired the Legrand AV Global Headquarters in Minnetonka, MN, integrating all core functions for the AV brand.