The property at 2801 N. Tenaya Way in Las Vegas changed hands on July 30, 2019. That sale is the disposition on record for KB RAD Pharmacy, DST, a Delaware Statutory Trust (DST) sponsored by Kingsbarn Realty Capital, whose Form D was filed on September 23, 2015.
That Form D is the only primary document in the located sources for this offering.
Form D terms | |
|---|---|
Exemption | 506(c) |
Offering amount | $3,485,000 |
Minimum investment | $10,000 |
A Form D says nothing about the property, the tenant, the debt, or the distribution terms, and the trust's private placement memorandum is not a public document. The terms an investor weighed in 2015, beyond the lines above, are not available to anyone reading the record now.
Compass records the same property as sold for $1.47 million on that date in its public-record history for the address, a figure Top1031 carries at medium confidence and a property-level entry rather than a result the sponsor reported at the trust level. No DST-level full-cycle return or investor cash-out terms were publicly stated in the located sources. Top1031's disposition record marks the basis of that price as a sponsor announcement; the evidence stored with it is the Form D, the Compass page, and a third-party listing document for the address, and no sponsor announcement is among them.
The address is worth stating precisely. The Form D gives the issuer's principal place of business, and 2801 N. Tenaya Way is the address KB RAD Pharmacy, DST filed under. The trust's marketing title names a pharmacy. What the located sources establish is a sale at the address the trust gave the SEC. They do not establish that the building at that address was the trust's underlying asset.