Top1031

Tanasbourne Super-Sport (24 Hour Fitness)

Net lease property in Beaverton, OR — sponsored by Thompson National Properties

Files with the SEC as TNP 1265 NW Waterhouse Ave, DST

Minimum investment
$66k
Offering size
$5.5M
How much has sold
38.0%
Asset type
Net lease property
Location
Beaverton, OR
Financing
All cash. This offering reports no mortgage debt.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

This is a Delaware statutory trust (DST) — a structure letting accredited investors hold fractional real estate that qualifies for a 1031 exchange — organized in Delaware in 2011 and sponsored by Thompson National Properties.3 The underlying property is the 24 Hour Fitness Tanasbourne Super-Sport gym at 1265 NW Waterhouse Avenue in Beaverton, Oregon. Interests totaling $5,520,000 were offered under Rule 506(b), the private-placement rule that bars public advertising.2

Show sources (11)Hide sources (11)

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 is a 32,766-square-foot single-tenant retail and health-club property in Beaverton's Tanasbourne retail submarket.5 Neither the Form D filings nor the marketing material located in research states what the Trust paid for it or when the purchase closed. A public property-history page for the address reports a June 28, 2011 grant-deed transfer at $13,000,000 and a December 2, 2019 transfer at $14,606,754, naming neither the Trust nor any counterparty.6

Reported location
Beaverton, OR
Chapter 3

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

The tenant is 24 Hour Fitness USA, LLC, which operates the Tanasbourne club around the clock.1 No record located in research settles the lease structure, remaining term, rent, or which party pays taxes, insurance and maintenance — the terms that decide what a fractional owner actually receives.

Chapter 4

How did it end?

What happened

Sold

For the exact property associated with the SEC-identified TNP 1265 NW Waterhouse Ave, DST, Berkshire Hathaway HomeServices reports a 2019-12-02 grant-deed transfer with a stated amount of $14,606,754, supporting a medium-confidence property-level sale; no trust-specific full-cycle announcement, investor cash-out, or return figures were found.

Underlying property is the 24 Hour Fitness Tanasbourne Super-Sport gym at 1265 NW Waterhouse Avenue in the Tanasbourne retail submarket of Beaverton, OR (ZIP 97006). The trust was sponsored by Thompson National Properties, LLC (headquartered at 1900 Main Street, Suite 700, Irvine, CA per its SEC Form D filing). No dated news coverage specifically naming the 'TNP 1265 NW Waterhouse Ave, DST' was located beyond SEC filing-tracker and trust-custodian references.

$14,606,754Sale price · as reported by the sponsor
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

Leverage here is unknown: no filing or record located identifies mortgage debt, a lender, or loan terms for this property, so whether the Trust used a loan or bought all-cash is unresolved in the public record.

Chapter 7

What does the paperwork say?

The initial Form D stated that a first sale had not yet occurred; the single amendment that followed six weeks later reported both sales and unsold interests.2 Nothing has been filed since — no further amendment and no termination notice on the record.

  1. First Form D filedThe public offering record begins.
  2. Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
Filings on record
2
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 Tanasbourne Super-Sport (24 Hour Fitness)?

Top1031 lists Tanasbourne Super-Sport (24 Hour Fitness) as historical. It is no longer raising money.

Where does Top1031 get the data for Tanasbourne Super-Sport (24 Hour Fitness)?

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.

Is this Trust still open to new investors?

The public record stops with the Form D amendment filed July 19, 2011. No later amendment, closing notice, or termination filing appears on the SEC record, so no public document shows whether the offering was completed, closed short, or withdrawn. Any current status would have to come from the sponsor or the trustee directly.

What exactly is the underlying property?

A single-tenant gym building at 1265 NW Waterhouse Avenue in the Tanasbourne retail submarket of Beaverton, Oregon. A LoopNet property record for that exact address describes a 32,766-square-foot retail/health-club building occupied by a single tenant, and 24 Hour Fitness lists the location as its Tanasbourne Super-Sport club.

Does the Trust still own the building?

That is unresolved. A LoopNet listing presented by Marcus & Millichap shows the exact address marketed for sale, on market since June 5, 2025 and last updated July 15, 2026, but a marketing listing does not prove a sale closed or identify the current owner. No deed located in research names the Trust as owner or seller.

What does Rule 506(b) mean for how this was sold?

506(b) is the private-placement exemption that allows an issuer to raise money without registering the offering, provided it does not advertise publicly and sells essentially to accredited investors it already has a relationship with. Practically, that means the Trust was distributed through broker-dealers and advisers rather than marketed openly.

Who was the sponsor?

Thompson National Properties, LLC, an Irvine, California firm named as promoter in the Trust's Form D. Top1031 tracks multiple offerings tied to that sponsor name, none of them currently raising. No dated news coverage specifically naming this Trust was located beyond filing trackers and custodian references.