REVA Kay Tampa IBC 1, DST sold. Kay Properties announced on August 10, 2020 that its Tampa International Business Center 1 DST, the Tampa-area custom offering, had gone full cycle and was sold.
The terms the offering carried to market:
Term | As filed |
|---|---|
Trust | REVA Kay Tampa IBC 1, DST |
Sponsor | REVA Properties |
Asset class | Commercial |
Offering ceiling | $9,300,000 |
Minimum investment | $93,000 |
Exemption | Rule 506(c) |
Form D filed | December 7, 2017 |
Kay Properties put a 131.42% total return on the record, as reported by the sponsor in its August 2020 announcement. The cited announcements did not state an equity multiple, an annualized return or IRR, a hold period, or a sale price.
Between the Form D and the sale lie 2.7 years, an interval derived from those two dates rather than a term any document states. The private placement memorandum, which would set out the distribution terms the offering carried to investors in 2017, is not on the public record, and the Form D itself carries no performance figures.
What the filings establish is the event and its date.