Top1031

Irving Square Shopping Center

Retail property in Irving, TX · sponsored by Thompson National Properties

HistoricalA sale, reported by homes.com · last Form D Jan 20, 2011homes.com (opens in a new tab)

Irving Square Shopping Center was a DST sponsored by Thompson National Properties that owned a retail property in Irving, TX (35,375 sq ft). A sale, reported by homes.com.

How it ended

No public outcome found

A sale, reported by homes.com.

Source: homes.com (opens in a new tab)

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$5,080,000
Equity offered, per the Form D
Sold
91.3%
Form D, Jan 20, 2011; the % is our arithmetic
Investors reported
24
Form D, Jan 20, 2011
Selling commissions
$660,400 · 13.0% of offering
Form D Item 15; the % is our arithmetic
Financing
All cash. This offering reports no mortgage debt.
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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Irving Square Shopping Center. Top1031 is not a broker-dealer.

What did Irving Square Shopping Center own?

Thompson National Properties assembled the offering around a 1.63-acre parcel at the northeast corner of West Airport Freeway (Highway 183) and Belt Line Road in Irving, Texas, across from Irving Mall. 2 The sponsor's May 2010 executive summary put the loaded purchase price at $5,080,000, the same figure as the offering size. 2 Dollar Tree's store page places the center at 3542 West Airport Freeway. 3 The records reviewed do not establish when the Trust closed on the purchase.

Reported location
Irving, TX
Property size
35,375 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?

The sponsor's May 2010 summary labeled this an all-cash DST — no mortgage on the property, so no lender, no refinancing date, and no debt maturity to manage. 2 The SEC filings on record name no loan, lender, or leverage figure for the Trust.

Debt

Financing
All cash. This offering reports no mortgage debt.

Costs and terms from the Form D

Selling commissions
$660,400 · 13.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$344,000 · 6.7% of offering
Form D Item 16
Broker-dealers named in the Form D
10 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jun 11, 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.

What does the SEC record show?

The amendments tracked the raise as it progressed, but they do not line up: the September 17, 2010 amendment reported a lower cumulative amount sold than the filing three days earlier, and nothing on record reconciles the two. 6 The Trust was offered privately to accredited investors — people meeting SEC income or net-worth tests — without public advertising.

Legal Trust name
TNP Irving Square, DST
SEC CIK
1495211
First Form D
Jul 21, 2010
Latest Form D
Jan 20, 2011
Filings on record
6
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 soldInvestors
Form D/A$5,080,000
$4,639,891+$3,035,524
24+15
EDGAR
Form D/A$5,080,000
$1,604,367
9
EDGAR
Form D/A$5,080,000
$1,604,367−$1,366,556
9−5
EDGAR
Form D/A$5,080,000
$2,970,923+$1,416,556
14+6
EDGAR
Form D/A$5,080,000
$1,554,367+$1,554,367
8
EDGAR
Form D$5,080,000
$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 Irving Square Shopping Center?
Irving Square Shopping Center is a Historical offering. A sale, reported by homes.com.
Who are the tenants at Irving Square Shopping Center now?
The sponsor's May 2010 offering summary reported the center fully leased to Staples and Dollar Tree on long-term net leases. A 2023 property page from SRS Real Estate Partners for 3538–3542 West Airport Freeway names Ollie's Bargain Outlet and Dollar Tree instead, and says Dollar Tree signed a new 10-year extension with three additional five-year options. Ollie's announced a January 24, 2024 grand opening at 3538 West Airport Freeway, in a former Fallas space.
Does the Trust still own the property?
That is not established. The tenant and broker records for the Irving address do not name the Trust or any owner, and no SEC filing after January 20, 2011 records a sale, refinancing, or dissolution. No trust-level outcome has been reported in the sources reviewed.
Was the offering leveraged?
The sponsor's May 2010 executive summary describes an all-cash DST, meaning the property was to be bought without mortgage debt. Public filings record no loan amount, lender, rate, or maturity, so the absence of debt rests on the sponsor's own material and should be confirmed in the offering documents.
Why do the Form D amendments disagree with each other?
The September 14, 2010 amendment reported a higher cumulative amount sold than the September 17, 2010 amendment filed three days later, and later filings never explain the reversal. Form D amounts are issuer-reported and not audited; the offering's own subscription records in the offering documents and closing documents are the controlling source.

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.