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Offering Summary

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AX Diversified Retail Portfolio DST

Preview Report

The AX Diversified Retail Portfolio DST offers $89,517,000 in trust equity across 6 net lease properties comprising 668,521 square feet. Initial Year 1 cash yield is projected at 4.6%, increasing to a 4.7% full-term average. The portfolio is acquired at a 6.0% cap rate.

Capital structure

Offering Equity$30.36M50.6% · $121,449 / unit
Offering Debt$29.64M

Offering price

$60.0M

Price / unit

$240,000

Units

250

Property age

12 yrs

Projected distribution rate

Avg 6.75%
Yr 1Term avg.
Yr 1 4.60%Term avg. 4.70%

Year-one distribution of 6.25% stepping to 7.20% by year seven.

The property

6-Property Essential Retail Portfolio Across 5 States

$82,270,000 acquisition price

AX Diversified Retail Portfolio DST

essential retail, home improvement stores, and wholesale clubs

The properties in the portfolio were originally built between 1991 and 2002, with recent renovations completed between 2018 and 2026 (e.g., Gadsden Lowe's 2002/2020, Columbus Lowe's 2001/2020, Dallas Sam's Club 1991/2022, Jacksonville BJ's 1999/2026, Muncie Kroger 1996/2018, Indianapolis Kroger 1995/2025).

715 South Tillotson Avenue, Muncie, Indiana 47304

8150 Rockville Road, Indianapolis, Indiana 46214

5555 South Buckner Boulevard, Dallas, Texas 75228

12200 Atlantic Boulevard, Jacksonville, Florida 32225

2301 Woodmont Drive, Columbus, Mississippi 39705

615 George Wallace Drive, Gadsden, Alabama 35903

715 South Tillotson Avenue, Muncie, Indiana 47304; 8150 Rockville Road, Indianapolis, Indiana 46214; 5555 South Buckner Boulevard, Dallas, Texas 75228; 12200 Atlantic Boulevard, Jacksonville, Florida 32225; 2301 Woodmont Drive, Columbus, Mississippi 39705; 615 George Wallace Drive, Gadsden, Alabama 35903

6 unitsessential retail, home improvement stores, and wholesale clubs

$82,270,000

100.0% of portfolio

Seller
—
Property manager
Apollo RE Exchange, LLC
Sponsor

Apollo RE Exchange, LLC

Asset Type

Essential retail, home improvement stores, and wholesale clubs

Location

715 South Tillotson Avenue, Muncie, Indiana 47304; 8150 Rockville Road, Indianapolis, Indiana 46214; 5555 South Buckner Boulevard, Dallas, Texas 75228; 12200 Atlantic Boulevard, Jacksonville, Florida 32225; 2301 Woodmont Drive, Columbus, Mississippi 39705; 615 George Wallace Drive, Gadsden, Alabama 35903

Units

6

Property Age

The properties in the portfolio were originally built between 1991 and 2002, with recent renovations completed between 2018 and 2026 (e.g., Gadsden Lowe's 2002/2020, Columbus Lowe's 2001/2020, Dallas Sam's Club 1991/2022, Jacksonville BJ's 1999/2026, Muncie Kroger 1996/2018, Indianapolis Kroger 1995/2025).

Offering Price

$89,517,000

Offering Debt

—

Offering Equity

$89,517,000

Offering LTV

0.28%

Income % (Yr. 1)

4.6%

Avg. Income (Full Term)

4.7%

Minimum Cash Investment

—

Minimum 1031 Investment

—

Strengths

  • 6 net lease properties spanning 668,521 total square feet
  • 4.6% initial distribution yield rising to 4.7% full term average

Concerns

  • Total front-end offering expenses equal $6,712,000