Lava Ridge Business Center in Roseville, California is out of KB Lava Ridge, DST. Top1031 records the outcome as property sold, closing a Delaware Statutory Trust (DST) offering that Kingsbarn Realty Capital opened with a Form D filed February 24, 2020.
Two dates for the exit sit in the record, and they do not agree. The disposition date field reads October 1, 2025. The record's own summary of the transaction places the sale in late October 2025 and the announcement on November 2, 2025. This report uses October 1, 2025, because it is the dated field, and because "late October" fixes no day. The record likewise carries two figures for the same hold, 5.7 years and 5.6 years; the table below uses the span the two dates themselves produce.
Item | Record |
|---|---|
Trust | KB Lava Ridge, DST |
Sponsor | Kingsbarn Realty Capital |
Asset class | Commercial |
Exemption | 506(c) |
First Form D filed | February 24, 2020 |
Offering amount, as filed | $18,250,000 |
Minimum investment | $182,500 |
Disposition type | Property sold |
Disposition date used here | October 1, 2025 |
Hold from the two dates | 5.6 years |
Total return, annualized return, equity multiple | not stated |
The sale price is $27.6 million, as reported by the sponsor, on a basis the record labels a sponsor announcement of November 2, 2025 and grades at medium confidence. The three documents the record files behind that price are all about the property rather than the Trust: a press release on the buyers' purchase of Lava Ridge Business Center, a project page for the same property, both on the website of one of the two buyers, and a Sacramento Business Journal item whose URL carries a March 3, 2020 date, one week after the Trust's first Form D. Read together, they place the same two firms on both sides of the property's history. None of the three is a Kingsbarn document, and no Kingsbarn announcement naming KB Lava Ridge, DST has been published.
The Form D is the only offering document in the public file, and a Form D states no distribution terms; those live in the private placement memorandum. What the record establishes is the beginning, the end, and a price it grades short of certain. The distributions and the eventual result for the beneficial owners are not in it.