Capital Square announced the sale of the Orlin & Cohen medical office building in Merrick, New York. The property was the asset behind CSRA NY MOB, DST, and the sale produced a nearly 190% return on equity, as reported by the sponsor in its June 25, 2019 release.
Item | On the record |
|---|---|
Form D filed | June 13, 2014 |
Offering ceiling | $8,020,000 |
Minimum investment | $25,000 |
Exemption | 506(b) |
Asset class | Commercial |
Exit type | Property sold |
Exit date | June 25, 2019 |
Hold | 5 years |
Sale price | $10.5 million, as reported by the sponsor in its June 25, 2019 release |
IRR | 17.96%, as reported by the sponsor in its June 25, 2019 release |
The offering terms above come from the Trust's Form D. Nothing publicly filed states the distribution terms the offering originally set. A Form D reports the size of an offering, its exemption and its minimum; the distribution terms sit in the private placement memorandum, which was never a public document. So the sponsor's account of how the Trust ended stands in the record with nothing from 2014 set beside it.
The filing describes no real estate at all. The tenant, the location and the building are identifiable only from the sponsor's own material, because the SEC record for this Trust is a notice of an exempt offering and nothing more. Capital Square lists the Trust among the completed programs on its published full-cycle track record.
The release reports one result for the investor group as a whole. It does not break out what any individual investor received, and the timing of a subscription or an investor's own tax position sits outside what the document addresses.