Top1031
SE NG (Gilbert), DST
in Gilbert, AZ · sponsored by Syndicated Equities
Active offeringLatest Form D filed Aug 20, 2026 (opens in a new tab)
SE NG (Gilbert), DST, sponsored by Syndicated Equities, filed its first Form D with the SEC on Aug 20, 2026 for a $27.8 million offering. Its latest Form D, filed Aug 20, 2026, lists a $27.8 million offering with a $10,000 minimum.
Key facts
- Minimum investment
- $10,000From the Form D
- Offering size
- $27,855,000Equity offered, per the Form D
- Sold so far
- Form D, Aug 20, 2026; the % is our arithmetic44.8%
- Investors reported
- Form D, Aug 20, 202632
- Selling commissions
- Form D Item 15; the % is our arithmetic$0 · 0.0% of offering
- 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
- Aug 20, 2026 · 1 filing
- First sale
- Jul 21, 2026
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
- Not yet sold
- $15,361,887
- Investors
- 32
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
44.8% of $27,855,000 sold, calculated by Top1031 from the Form D
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Ask a 1031 specialist about this recordFree. About: SE NG (Gilbert), DST. Top1031 is not a broker-dealer.SE NG (Gilbert), DST · Gilbert, AZ · Photo: syndicatedequities.com
What does SE NG (Gilbert), DST own?
The Trust's SEC filing names no property. Sponsor materials describe one two-story building of roughly 119,180 square feet at 1655 West Elliot Road in Gilbert. 2 Local reporting ties that address to Gilbert Spectrum Building 3, which the Gilbert Independent reported sold on August 18, 2026 for $56.13 million; AZ Big Media described the same building as 115,212 square feet, a size difference the public record does not resolve.
- Property address
- 1715 W. Elliot Road, Gilbert, AZ
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 SEC filing on this Trust states loan terms. Sponsor materials market mortgage debt alongside investor equity, which means a lender is repaid before any cash reaches investors. 2 The Gilbert Independent reported $33.68 million of new financing from Old National Bank in connection with the August 2026 sale of the building.
Costs and terms from the Form D
- Selling commissions
- $0 · 0.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $4,178,249 · 14.9% of offeringForm D Item 16
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Jul 21, 2026
- Minimum investment
- $10,000
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 SE NG (Gilbert), DST?
No sponsor brand appears on the Form D, which identifies SE NG (Gilbert) DT, LLC as discretionary trustee and related promoter. 1 Sponsor offering materials name SE NG (Gilbert) Sponsor, LLC, an affiliate of Syndicated Equities Group, LLC, as sponsor. 2 The Phoenix Business Journal reported on August 31, 2026 that SE NG (Gilbert) Transitory LLC, which it described as affiliated with Syndicated Equities, acquired Gilbert Spectrum Building 3 — a transitory entity rather than the Trust named as the reported buyer.
- Sponsor
- Offerings on record
- 5 active / 11 total
What does the SEC record show?
A Form D is the brief notice a private offering files with the SEC instead of registering its securities; this one reports a Delaware trust formed in 2026 and a first sale of interests on July 21, 2026, with no amendment since. 1 The private-placement exemption claimed bars general advertising and limits sales to investors the sponsor already knows.
- Legal Trust name
- SE NG (GILBERT), DST
- SEC CIK
- 2150888
- First Form D
- Aug 20, 2026
- Latest Form D
- Aug 20, 2026
- 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 | $27,855,000 | $12,493,113 | 32 | 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 SE NG (Gilbert), DST an active offering?
- SE NG (Gilbert), DST is an Active offering: its latest Form D was filed Aug 20, 2026. 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.
- What property does this Trust own?
- The Form D names no property. Sponsor offering materials identify the investment as the Northrop Grumman SCIF & Lab Facility DST, offered of record as SE NG (Gilbert), DST, and describe one two-story building of approximately 119,180 square feet at 1655 West Elliot Road, Gilbert, Arizona. A SCIF is a Sensitive Compartmented Information Facility — space built to federal standards for handling classified information. One detail is unresolved: AZ Big Media sized the building at 115,212 square feet in reporting a $56,128,000 sale of Gilbert Spectrum Building 3 at that address, against the 119,180 square feet in the offering material. The offering documents are the controlling description.
- Who is the tenant and what does the lease say?
- Sponsor offering materials report the building 100% net leased to Northrop Grumman Systems Corporation under a lease whose primary term commenced January 15, 2025 and expires January 31, 2037, with annual rent increases and three five-year renewal options held by the tenant. Net lease means the tenant bears operating costs such as taxes, insurance and maintenance rather than the Trust. No filing on this Trust's SEC record states any lease terms, so the lease document and the offering documents control. Whether tenant personnel physically occupy the building was not verified in the sources reviewed on October 3, 2026.
- Is this Trust leveraged, and who is the lender?
- Sponsor materials market mortgage debt of approximately $33,676,800 alongside $27,855,000 of investor equity, for total capitalization of $61,531,800. The Form D identifies no lender and states no loan terms. The Gilbert Independent reported $33.68 million of financing from Old National Bank in connection with the sale of Gilbert Spectrum Building 3 to an entity associated with Syndicated Equities; no recorded mortgage naming a lender for this Trust was located. Separately, Commercial Observer reported on July 1, 2026 that Obra Real Estate supplied $31.4 million of bridge debt on a different Northrop Grumman-leased property in Gilbert, at 1715 West Elliot Road — that is not this building.
- What is the minimum investment?
- The Form D filed August 20, 2026 reports a $10,000 minimum accepted from an outside investor. That is a filing disclosure, not necessarily the subscription minimum offered today: the subscription documents and offering documents govern what any individual investor may buy, and a selling broker-dealer may apply its own higher threshold. Separate sponsor-stated minimums for 1031 exchange investors versus cash investors were not verifiable in the sources reviewed on October 3, 2026.
- Does the Trust itself hold title to the building?
- The reviewed record does not establish that. The Trust's only SEC filing identifies no property. The Phoenix Business Journal reported on August 31, 2026 that SE NG (Gilbert) Transitory LLC, described as affiliated with Syndicated Equities, acquired the nine-acre property at 1655 W. Elliot Road, and the Gilbert Independent similarly described the buyer as an entity associated with Syndicated Equities rather than naming the DST as grantee. Transitory or bridge entities are commonly used to take title before DST interests are sold, but confirming who holds title, and as of when, requires the offering documents and the county deed record.
In the news
Sources
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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.