Clark County Department of Family Services Building
Net lease property in Las Vegas, NV · sponsored by Thompson National Properties
Clark County Department of Family Services Building was a DST sponsored by Thompson National Properties that owned a net lease property in Las Vegas, NV (63,365 sq ft). Sold Nov 2019.
How it ended
No public outcome found
Sold Nov 2019.
- Date
- Nov 4, 2019
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $7,880,000Equity offered, per the Form D
- Sold
- 38.1%Form D, Dec 1, 2010; the % is our arithmetic
- Investors reported
- Form D, Dec 1, 201017
- Selling commissions
- Form D Item 15; the % is our arithmetic$551,600 · 7.0% of offering
- 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: Clark County Department of Family Services Building. Top1031 is not a broker-dealer.What did the Trust own?
Thompson National Properties acquired the two-story office building at 121 S. Martin Luther King Blvd. in Las Vegas from The American Nevada Co. for $12.2 million, CoStar reported on August 18, 2010. 1 The sponsor's June 2010 offering summary described the building as 100% occupied with no vacant space. 2 Clark County's official business listing still places Family Services at that address. 3
- Reported location
- Las Vegas, NV
- Property size
- 63,365 sq ft
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
This Trust was offered with mortgage debt rather than all-cash: the June 2010 sponsor summary reported a $7,930,000 fixed-rate senior loan with a 10-year term amortized over 30 years. 2 Investor equity therefore sits behind a lender's claim on the building.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $551,600 · 7.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $275,800 · 3.5% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 11 named in the Form D
Show the firms
- Centaurus Financial, Inc. · CRD 30833
- Crown Capital Securities, L.P. · CRD 6312
- Great Nation Investment Corporation · CRD 19981
- Independent Financial Group, LLC · CRD 7717
- Investment Security Corporation · CRD 47536
- Kalos Capital, Inc. · CRD 44337
- Pacific West Securities, Inc. · CRD 6390
- Pavek Investments Inc. · CRD 15791
- Primex · CRD 29394
- TNP Securities, LLC · CRD 149178
- Western International Securities, Inc. · CRD 39262
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Aug 20, 2010
- Minimum investment
- $25,000
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?
Thompson National Properties is the sponsor named in the June 2010 offering summary and the buyer of record in the 2010 acquisition. 2 On June 2, 2014, the Las Vegas Review-Journal reported that county property records still showed Thompson National Properties as owner and that the building was being offered for sale at $18 million, without naming a buyer or a completed sale. 4 No disposition for this Trust appears in the SEC record.
- Sponsor
- Offerings on record
What does the SEC record show?
The entire SEC record here is an original Form D plus a single amendment that updated the reported amount sold and the investor count. Both were made under the private-placement exemption that bars general advertising and limits sales to accredited investors — those meeting SEC income or net-worth tests. Nothing has been filed since.
- Legal Trust name
- TNP 121 S. Martin Luther King Blvd., DST
- SEC CIK
- 1499963
- First Form D
- Sep 14, 2010
- Latest Form D
- Dec 1, 2010
- Filings on record
- 2
- 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/A | $7,880,000 | $3,008,159+$2,733,159 | 17+15 | EDGAR | |
| Form D | $7,880,000 | $275,000 | 2 | 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 Clark County Department of Family Services Building?
- Clark County Department of Family Services Building is a Historical offering. Sold Nov 2019.
- Who is the tenant, and is it still in the building?
- The Clark County Department of Family Services, a Nevada county government agency, was the single tenant at the time of the 2010 offering. Clark County's official business listing places Family Services at 121 S. Martin L. King Jr. Blvd., Las Vegas, NV 89106. That listing establishes the agency's address; it does not state lease terms, a renewal, or an occupancy percentage.
- Did the property ever sell?
- No completed sale is documented in the sources on record. On June 2, 2014, the Las Vegas Review-Journal reported that property records showed Thompson National Properties as owner and that the building was being offered for sale at $18 million, without identifying a buyer or a closed transaction. No outcome for this Trust has been reported since.
- Why do the offering size figures differ between the sponsor material and the SEC filing?
- They were published for different purposes and the available documents do not reconcile them. The June 2010 sponsor executive summary listed a total offering size of $5,790,000, while the Form D filed with the SEC on September 14, 2010 reported a total offering amount of $7,880,000. The offering documents and any supplements should explain which figure governs.
- What does the county's plan for a new Family Services building mean here?
- On June 2, 2014, the Review-Journal reported that Clark County was planning a new Family Services home at its Government Center campus on South Grand Central Parkway, describing an approximately five-year process to move in. Tenant relocation plans bear directly on renewal risk for a single-tenant government-leased building, and the offering documents and any lease amendments are where that is settled.
- Can this Trust convert into REIT shares through a 721 exchange?
- No 721/UPREIT exit — a structure where investors swap property interests for operating-partnership units in a REIT — is indicated for this Trust in the data on record. Any exit mechanics would be described in the trust agreement and the offering documents.
In the news
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.