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3350 Boyington Drive office (Certified Payment Processing)

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

HistoricalLast Form D filed Jun 27, 2011 (opens in a new tab)

3350 Boyington Drive office (Certified Payment Processing) was a DST sponsored by Thompson National Properties that owned a net lease property in Carrollton, TX. Its last Form D was filed Jun 27, 2011.

How it ended

No public outcome found

Last Form D filed Jun 27, 2011.

Key facts

Minimum investment
$37,000
From the Form D
Offering size
$7,520,000
Equity offered, per the Form D
Sold
Not reported after the first Form D (Jun 27, 2011)
Form D, Jun 27, 2011
Selling commissions
$650,000 · 8.6% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
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 →

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Ask a 1031 specialist about this recordFree. About: 3350 Boyington Drive office (Certified Payment Processing). Top1031 is not a broker-dealer.

What did the Trust own?

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

Tenant and lease terms are not in the SEC filings or cited sources.

How was it financed, and what did it cost to sell?

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.

Debt

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

Costs and terms from the Form D

Selling commissions
$650,000 · 8.6% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$120,000 · 1.5% of offering
Form D Item 16
Broker-dealers named in the Form D
None named in the Form D
Date of first sale
Not in the Form D
Minimum investment
$37,000

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.

What does the SEC record show?

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.

Legal Trust name
TNP 3350 Boyington, DST
SEC CIK
1522597
First Form D
Jun 27, 2011
Latest Form D
Jun 27, 2011
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$7,520,000
$0
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 3350 Boyington Drive office (Certified Payment Processing)?
3350 Boyington Drive office (Certified Payment Processing) is a Historical offering. Last Form D filed Jun 27, 2011.
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. 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.
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 offering documents.

Sources

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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.