Top1031

3350 Boyington Drive office (Certified Payment Processing)

Net lease property in Carrollton, TX — sponsored by Thompson National Properties

Files with the SEC as TNP 3350 Boyington, DST

Minimum investment
$37k
Offering size
$7.5M
How much has sold
None sold yet
Asset type
Net lease property
Location
Carrollton, TX
Financing
Leveraged. This offering reports mortgage debt on the property.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

TNP 3350 Boyington, DST was a Delaware statutory trust — a passive co-ownership vehicle whose interests can be used in a 1031 exchange — sponsored by Thompson National Properties to hold a single-tenant office building at 3350 Boyington Drive in Carrollton, Texas, leased to Certified Payment Processing.1 One Form D was filed in 2011, and the Trust is closed to new investors. No outcome has been reported.

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These links support the historical public record; individual details may come from different sources.

On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.

Chapter 2

What exactly is the property?

The building contains 68,699 rentable square feet on a 6.87-acre site in Carrollton, in the northern Dallas suburbs.3 Sponsor material said renovations were completed in early 2011 to ready the building for occupancy by its new tenant.3 The acquisition date and purchase price are not established in the public record.

Reported location
Carrollton, TX
Property size
$5,000,000 total offering size (single-tenant office)
Chapter 3

Who is the tenant, and what's the lease?

The tenant is Certified Payment Processing, a Dallas-headquartered electronic-payment-processing firm serving more than 40,000 active merchants. Sponsor material described a new eight-year triple-net lease — the tenant covering taxes, insurance and maintenance — running April 1, 2011 through March 31, 2019, with FAPS Holdings, Inc. named as guarantor.2

Chapter 4

How did it end?

What happened

No ending on record

Sponsored by Thompson National Properties, LLC; the trust acquired a 68,699 SF office building at 3350 Boyington Drive, Carrollton, TX leased to Certified Payment Processing under an 8-year NNN lease beginning April 2011; no full-cycle, sale, or disposition announcement with stated returns was located.

Underlying property at 3350 Boyington Drive, Carrollton, TX 75006 was placed in a single-tenant office DST by Thompson National Properties, LLC. The tenant is Certified Payment Processing (CPP), a Dallas-headquartered full-service electronic-payment-processing provider serving more than 40,000 active merchants. The DST had a total offering size of $5,000,000 / loaded offering price of $7,520,000 / loan amount of $2,520,000 / loan-to-value of 33.51% / anticipated loan terms 5.875% fixed 10-year, per the executive summary PDF. No dated news coverage specifically naming 'TNP 3350 Boyington, DST' was located beyond SEC filing trackers and the executive summary / BBB record of the underlying tenant.

$5,000,000 total offering size (single-tenant office)
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

The Trust was leveraged: investor equity was combined with mortgage debt secured by the building, so the loan's terms and maturity shape the hold as much as the lease does. The lender is not identified in the public record.

Financing
Leveraged. This offering reports mortgage debt on the property.
Chapter 7

What does the paperwork say?

The filing record is a single Form D, never amended, which reported that the first sale had not yet occurred as of the filing date.4 It was offered privately to accredited investors — those meeting SEC income or net-worth tests — without general advertising, and no later trust-level filing was located.

  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.

Chapter 8

Common questions

What happened to 3350 Boyington Drive office (Certified Payment Processing)?

Top1031 lists 3350 Boyington Drive office (Certified Payment Processing) as historical. It is no longer raising money.

Where does Top1031 get the data for 3350 Boyington Drive office (Certified Payment Processing)?

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.

Can I still invest in this Trust?

No. TNP 3350 Boyington, DST is closed to new investors. Its only SEC filing is a Form D dated June 27, 2011, and no amendment or later trust-level filing has appeared on the SEC record as of August 17, 2026.

What was the tenant and lease?

Sponsor material described the Carrollton building as leased to Certified Payment Processing under a new eight-year triple-net lease commencing April 1, 2011 and running through March 31, 2019, with FAPS Holdings, Inc. as guarantor.[2] Triple-net means the tenant pays taxes, insurance and maintenance.

What happened after the lease term ended in 2019?

The public record does not settle it. A 2020 report attributed to state and local economic-development sources said Crescent Bank & Trust planned to invest $1,446,000 to build out 48,647 square feet and occupy 3350 Boyington Drive, Suite 100, around April 1, 2020 — a stated plan, not a confirmed outcome.[5]

Was the Trust all-cash or leveraged?

Leveraged. Mortgage debt secured by the property sat alongside investor equity, which means loan maturity and refinancing risk affected the Trust in addition to tenant performance. The sponsor's executive summary set out the anticipated loan terms; a buyer would verify the executed terms and lender in the PPM.

What does Rule 506(b) mean here?

It is the private-placement exemption that lets an issuer sell to accredited investors without general advertising or public solicitation, relying on pre-existing relationships. Investors receive a Private Placement Memorandum rather than a public prospectus, and the SEC filing is a short Form D notice rather than a registration statement.