Category: Properties

Property details

savage, minnesota

Winnebago Industries Innovation Center

Investment type

Net Lease

Asset Class

Industrial

Ownership Structure

Delaware Statutory Trust (DST)

Year Acquired

2024

Investment Summary

The light industrial property is utilized by Winnebago as its primary research and development facility.  This work includes the creation of new prototypes and technology enhancements for Winnebago’s vehicles, including data and connectivity upgrades, advanced materials construction, and self-driving autonomy development.  This location was chosen due to its proximity to Winnebago’s corporate headquarters (3 miles northwest), its primary manufacturing facility in Forest City, Iowa (130 miles south), and Prior Lake (4 miles north), which Winnebago uses to test Barletta Boats, one fits five main business segments.

Property details

elk grove village, illinois

Willow Crossing Apartments

Investment type

Value-Add

Asset Class

Multifamily

Ownership Structure

Joint Venture

Year Acquired

2024

Investment Summary

Willow Crossing is a 579-unit, mid-rise apartment complex located in Elk Grove Village, Illinois. The property offers a variety of one, two, and three-bedroom units with updated interiors and a range of amenities including swimming pools, a clubhouse, fitness center, and dog park. The property is currently 95% occupied and has undergone significant capital repairs and replacements in recent years.

Property details

independence, missouri

The Mansion Apartments

Investment type

Value-Add

Asset Class

Multifamily

Ownership Structure

Joint Venture

Year Acquired

2023

Investment Summary

The Property is located at 2905 South Lee’s Summit Road in Independence, Missouri, which is an established residential area 10 miles (20 minutes) east of downtown Kansas City.  The Property was constructed in 1989 and is currently 96% occupied. 

Property details

Chattanooga, Tennessee

Choo Choo Hotel

Investment type

Development

Asset Class

Hospitality

Ownership Structure

Joint Venture

Year Acquired

2023

Investment Summary

The Property is located at 92 Choo Choo Avenue, within the campus of the iconic 7-acre former railroad station known as the Chattanooga Choo Choo Terminal Station.  The Property currently consists of the MacArthur building, a two-story H-styled building with 75 hotel rooms and a lobby with a double height indoor pool, a 1,675 square foot retail building, and an 81-space parking lot. 

Once renovated, the Property will feature 127 keys/rooms, including a unique offering of boutique hotel rooms in repurposed train cars, state-of-the-art banquet and catering facilities, a lounge/restaurant, and 1,749 SF of retail space.  The existing pool area will be converted into a 3,000 SF, column-free event space with a new roof so that the hotel can better attract high-rated group business such as weekday corporate events and weddings over the weekend. 

Property details

Dearborn, michigan

Carhartt Global Design & Corporate Headquarters

Investment type

Net Lease

Asset Class

Office

Ownership Structure

Delaware Statutory Trust (DST)

Year Acquired

2023

Investment Summary

The Property consists of a two-story, 58,722 square foot, Class A building situated on a 7.7-acre parcel at 5750 Mercury Drive in Dearborn, Michigan. Carhartt utilizes the Property as a design, research, and development facility as well as its corporate headquarters. The Property was a build-to-suit for Carhartt in 2002.

The majority of the property is utilized as Carhartt’s state-of-the-art global design center, the creative hub of the company where all fabric and design decisions are made for new apparel. The Property also serves as its center for research and development, which includes laboratory space, industrial washing machines, and other prototype equipment for durability testing.

Syndicated structured its acquisition as a Delaware Statutory Trust (DST) to accommodate investors completing a Section 1031 Exchange.