Sponsor profile
SEC filings + cited sources
CAI Investments is a Delaware statutory trust sponsor whose programs concentrate on single-tenant industrial and manufacturing real estate leased under long-term net leases. Top1031 tracks ten CAI DST programs with initial filings between 2018 and 2024. Completed offerings include net-leased facilities occupied by U.S. Medical Glove Company, VVF, Cabela's, and The Martin-Brower Company. In February 2022 CAI took its Daytona Beach, Florida DST full cycle, having acquired the property in 2019 for $10.5 million and sold it for $12.1 million. Its 2026 Manufacturing Essential Asset 1 DST, a $286 million Harvard, Illinois transaction, is the sponsor's largest DST to date.
Platform and strategy
CAI Investments sponsors Delaware statutory trust offerings built around single-tenant industrial and manufacturing properties held on long-term absolute-net leases. Top1031 tracks ten CAI DST programs with initial filings spanning 2018 through 2024 1.
Completed programs and tenants
The Coatesville, Pennsylvania DST holds a 152,854-square-foot industrial and distribution facility net-leased to The Martin-Brower Company 2. An earlier Reno, Nevada offering, a single-tenant Cabela's/Bass Pro retail box, fully subscribed in January 2022 after the property was purchased in October 2021 for about $38.9 million 3. In February 2022 CAI completed a full-cycle exit of its Daytona Beach, Florida DST, acquired in early 2019 for $10.5 million and sold for $12.1 million 4.
Manufacturing and USMGC programs
CAI's Healthcare Products I DST fully subscribed in June 2022, raising about $25.8 million of equity for a 650,000-square-foot Cincinnati-area (St. Bernard, Ohio) manufacturing facility acquired for $46.6 million and 100% leased to a VVF subsidiary 5. Later programs are anchored to U.S. Medical Glove Company. The Manufacturing Essential Asset II DST fully subscribed in February 2025, raising about $22.28 million of equity for a 96,204-square-foot facility at 308 Church Street, Honea Path, South Carolina, leased to a USMGC affiliate under a 22-year absolute net lease 8. The Manufacturing Essential Asset 1 DST covers a 1.5-million-square-foot campus at 2001 N. Division Street, Harvard, Illinois leased to USMGC under a 23.5-year absolute net lease 7; it fully subscribed in March 2026 as a $286 million transaction with roughly $182 million of investor equity, the sponsor's largest DST to date 6.
On December 12, 2025, the Ninth Circuit Bankruptcy Appellate Panel affirmed dismissal of the chapter 11 case for the Reno City Center redevelopment, naming principal Christopher Beavor and ten CAI-affiliated entities — including PFM Harvard LLC, the MEA 1 DST vehicle, and CAI Investments Healthcare Products II DST — as appellants. The panel's opinion records findings that Beavor-controlled Bristlecone Management failed to insure the property and to pay property taxes and utilities and "misappropriated millions" of Delphi loan proceeds, after Delphi declared a $59,474,502 funding-shortfall default in April 2023 9.