Dave Bulger
Vice President
O (855) 378-3443|C (561) 715-3235
18 Formero Street, Rancho Mission Viejo, CA 92694
Investment underwriting report
Complete offering, sponsor, fee and comparative analysis
Prepared
August 26, 2026
Offering summary
PG Savannah Industrial DST is an all-cash syndication sponsored by Peachtree Hotel Group II, LLC, offering fractional beneficial interests in a newly constructed Class-A cross-docked industrial facility located in Midway, Liberty County, Georgia. The offering has a total capitalization of $91,509,083, which includes an acquisition price of $78,250,000 and total front-end offering expenses and fees of $8,693,363. The property was completed in 2024 and acquired at a 7.4% acquisition cap rate with zero offering debt (0% LTV). Projected investor returns include a Year 1 cash flow rate of 5% and a full-term average projected income of 5.45%. The asset's stabilized appraised value is reported as $4,750,000 higher than the purchase price, representing an Appraisal to Offering Price ratio of 98.4%. The sponsor has established $1,075,000 in improvement reserves to support ongoing capital needs.
0.0% of the offering is closed
$1,000,000,000 still available
$1,000,000,000
$0
0.0% of offering$0
Pending subscription$1,000,000,000
Open for subscriptionThe offering is structured as an all-equity syndication with an aggregate offering price of $91,509,083 and zero third-party debt. Offering expenses and syndication loads account for 9.5% of acquisition costs, funded entirely through equity proceeds.
Sector
Industrial
Investment Category
DST
Projected First Year Cashflow
5%
Avg. 5.45% over term
Min. Cash Investment
—
Min. 1031 Investment
—
Total Offering Price
$91,509,083
Offering Debt
$0
All-equity offering
LTV
0%
On acquisition price
Units / Tenants
—
southeastern portion of the City of Midway in Liberty County, Georgia
Property Age
The property is a Class-A cross-docked industrial facility that was completed in 2024.
The offering features a 2024-vintage Class-A industrial cross-dock facility in Midway, Georgia, acquired for $78,250,000. Capitalized entirely with equity at a 0% LTV, the trust targets an initial 5% distribution and an average 5.45% distribution over the full hold period.
Debt-Free Structure
0% LTVThe offering carries $0 in debt, eliminating maturity, refinancing, and interest rate default risks.
Favorable Acquisition Basis
7.4% Cap RateAcquired at $78,250,000, which is $4,750,000 below the reported stabilized appraised value.
New Construction Asset
2024 VintageThe Class-A cross-dock facility was completed in 2024, minimizing near-term structural capital expenditure needs.
Front-End Fee Burden
$8,693,363Front-end load represents 9.5% of acquisition costs, creating an equity dilution relative to the asset acquisition basis.
Escalating Management Fees
Up to $275,000/yrAsset management fees scale up over time from $75,000 in 2027 to $275,000 per year by 2035, alongside a 3.5% property management fee.
Unspecified Tenant Profile
Not DisclosedUnderlying lease structure, tenant creditworthiness, and lease duration are not provided in the extracted documentation.
Key strengths include an unleveraged capital structure with 0% debt, eliminating financing and interest rate risks for investors. The asset is newly constructed in 2024 and was acquired at a 7.4% capitalization rate with an appraised value $4,750,000 above the purchase price. Additionally, the sponsor brings institutional scale with $4,700,000,000 in assets under management and more than 100 historical real estate acquisitions.
Offering Equity
1092.8% of offering
Acquisition Cost
90.5% of offering
Offering Expenses
9.5% of offering
Reserves
1.2% of offering
Total Offering
$91.51M
All equity — no mortgage debt
Acquisition Cost
$82.82M
90.5% of offering to the property
Total Fees & Expenses
$8.69M
9.50% of offering
Reserves
$1.07M
1.2% of offering
Total offering proceeds of $91,509,083 are deployed toward the $78,250,000 property acquisition, $8,693,363 in total offering expenses and fees, $1,075,000 in improvement reserves, and $751,049 in carry and finance costs. Front-end fees comprise an acquisition fee of $2,347,500, a dealer fee of $1,738,673, a wholesaling fee of $1,738,673, and a broker-dealer due diligence allowance of $915,091.
Tone reflects relative strength, not a rating
Leverage Profile
PositiveThe trust operates with 0% debt, shielding investors entirely from interest rate resets and loan maturity constraints.
Syndication & Front-End Load
CautionaryOffering expenses and fees amount to $8,693,363, requiring long-term asset appreciation to recapture invested capital.
Asset Age & Condition
PositiveDelivered in 2024 as a Class-A cross-docked facility with $1,075,000 held in reserve for ongoing improvements.
Information Transparency
CautionaryLease maturity, rent escalation rates, and tenant identity are not disclosed in the provided offering excerpts.
Primary risks center on the total upfront fee load of $8,693,363, which results in an offering price exceeding the property's acquisition cost and initial appraisal value (appraisal/offering ratio of 98.4%). Furthermore, detailed tenant lease terms, tenant credit profiles, and specific occupancy levels are not disclosed in the provided materials. Ongoing fee obligations include a 3.5% property management fee and escalating asset management fees reaching $275,000 annually by 2035.
Syndicated Cap Rate
—
NOI ÷ offering price
Upfront Load
9.50%
Total fees ÷ offering price (all-equity offering)
Premium / Discount
—
Offering price vs. appraised value
Offering vs. Acquisition
116.9%
Offering price ÷ acquisition price
Price per Unit
—
Offering price ÷ — units
Distribution rates as extracted from the offering materials.
Total upfront fees and expenses equal $8,693,363, representing 9.5% of total acquisition costs when excluding reserves. The structure includes $1,075,000 in funded reserves, bringing total acquisition cost to $82,815,720 against total offering proceeds of $91,509,083.
Sponsor
Peachtree Hotel Group II, LLC (Peachtree Group) is a multi-strategy real estate investment manager managing $4,700,000,000 in AUM with over 300 non-hotel professionals. The firm has executed more than 100 acquisitions across its history, though specific standalone DST program track records are not itemized in the excerpts.
—
Properties owned or managed
$4,700,000,000
Across all programs
—
Prior DST offerings
—
DST-held assets
Peachtree Group has over 300 employees outside hotel operations.
Disclosed headcount
Industrial
Stated strategy
Peachtree Hotel Group II, LLC (Peachtree Group) manages $4,700,000,000 in total AUM ($4,900,000,000 reported DST AUM) with a staff of over 300 non-hotel employees. While the group possesses an established history of over 100 acquisitions across multiple direct investment strategies, specific standalone DST track record details are not delineated in the offering materials.
Extensive operational scale with $4,700,000,000 in total AUM
Large dedicated infrastructure with over 300 non-hotel employees
Over 100 historical real estate acquisitions executed
Stand-alone DST management track record metrics are not explicitly detailed
Current exact property count in active portfolio is not specified
The property
$78,250,000 acquisition price
PG Savannah Industrial DST
Class-A industrial facility
The property is a Class-A cross-docked industrial facility that was completed in 2024.
southeastern portion of the City of Midway in Liberty County, Georgia
southeastern portion of the City of Midway in Liberty County, Georgia
$78,250,000
100.0% of portfolio
The offering carries a $29,637,800 first mortgage against the Dallas multifamily asset, representing 64.2% leverage on the acquisition price. The loan is fixed at 5.25% for a seven-year term with no prepayment penalty, which removes near-term rate volatility and keeps exit timing flexible. Projected net operating income covers debt service at 1.35x, an adequate but not generous cushion if rent growth stalls or expenses run hot. Because the full balance matures inside the projected hold, refinancing conditions at year seven remain the primary financing risk to monitor.
All-cash offering — no mortgage debt, so there is no leverage to chart.
—
—
—
—
—
—
0%
0%
Transaction fields tie the $50.0M acquisition price to the $60.0M offering price and the $61.50M appraisal, so the pricing gap is visible rather than implied. The offering prices 20.0% above acquisition cost and reads a -2.44% premium/discount to appraised value. Cap rates compress from 5.25% at acquisition to 5.75% syndicated, a 50 bps spread absorbed by fees and load. Load figures of 4.30% on equity and 2.40% on offering price are the fields most worth pressure-testing.
$78,250,000
$91,509,083
The stabilized appraised value of the property is reported as $4,750,000 higher than the purchase price.
—
—
—
7.4%
—
—
98.4%
9.5%
Use of proceeds shows where investor capital actually lands: $46.36M, or 77.3% of the offering, reaches the property. Offering expenses of $7.80M and acquisition costs and reserves of $5.84M consume the remaining 22.7%. Total fees and expenses of $13.64M equal 21.13% of equity and 12.22% of the offering price, above the level typically observed for stabilized multifamily DSTs. Reserves of $3.88M are appropriately sized for a 12-year-old asset.
Total Fees & Expenses
$8,693,363
% of offering
9.50%
All-equity offering — load on equity equals load on offering price.
Total fees & expenses
$8.69M
9.50% of offering
Offering expenses
$8.69M
9.50% of offering
Reserves held
$1.07M
1.17% of offering
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Acquisition Fee | $2,347,500 | 0.23% | 2.57% |
| Reserves (Loan Proceeds) | $1,075,000 | 0.11% | 1.17% |
| Reserves (Improvements) | $1,075,000 | 0.11% | 1.17% |
| Loan & Lender Expenses | $19,835 | 0.00% | 0.02% |
| Finance Expenses | $751,049 | 0.08% | 0.82% |
| Total Acquisition Cost | $82,815,720 | 8.28% | 90.50% |
| Total Acq. Cost (Reserves) | $82,815,720 | 8.28% | 90.50% |
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Dealer Fee | $1,738,673 | 0.17% | 1.90% |
| Wholesaling Fee | $1,738,673 | 0.17% | 1.90% |
| BD Due Diligence Allowance | $915,091 | 0.09% | 1.00% |
| O&O Expenses | $549,054 | 0.05% | 0.60% |
| Carry Costs | $751,049 | 0.08% | 0.82% |
| Total Offering Expenses | $8,693,363 | 0.87% | 9.50% |
| Total Upfront Fees (Reserves) | $8,693,363 | 0.87% | 9.50% |
Front-end sponsor compensation totals $5,094,395, or 10.19% of acquisition cost, spread across five disclosed line items. The $1.96M acquisition fee is the largest single component at 3.04% of equity, followed by $1.24M of carrying costs. O/O reimbursement, DST admin and loan origination fees add a further $1.90M. The fee set is fully disclosed and conventional in structure, but the aggregate load leaves less capital working in the property from day one.
$2,347,500
0.23%
$91,509,083
9.15%
$1,738,673
0.17%
$1,738,673
0.17%
$8,693,363
11.11%
Ongoing fees are charged against six different bases, so headline rates are not directly comparable to one another. The 3.00% property management fee on EGI and 1.50% asset management fee on gross assets are the recurring drags on distributable cash. Master tenant income of 2.00% of annual rent sits on top of those, and a 1.00% disposition fee plus 1.00% refinancing fee apply at capital events. Trust administration is a modest $25,000 flat annual cost.
$75,000
A
of monthly property management fee equal to 3.5% of the Gross Revenue
Three
of percent (3.0)% of the gross sales price of the Property
The
Trust is required to pay the Delaware Trustee an initial fee, monthly fees, and document execution fees for its services. The Administrative Trustee will serve in such capacity without compensation.
Standing
1 of 57
Blended percentile across 10 extracted metrics.
Pricing
83rd pct
Leverage
100th pct
Cost
41st pct
Ongoing
52nd pct
Structure
0th pct
Pricing
Leverage
Cost
Ongoing
Structure
Bar spans the cohort minimum (Min) to maximum (Max), labelled beneath with the cohort median (Med). Shaded band is the 25th–75th percentile, the tick is the median, and the dot is this offering.
Acquisition cap rate
97th pct7.40%median 5.50%
Year 1 distribution
72nd pct5.00%median 4.51%
Acquisition LTV
100th pct0.00%median 46.93%
Total upfront load
25th pct9.50%median 5.97%
| Metric | This offering | Cohort median | 25th–75th | Difference | Percentile |
|---|---|---|---|---|---|
| Acquisition cap ratePricing | 7.40% | 5.50% | 5.00% – 6.00% | +1.90% | 97th |
| Year 1 distributionPricing | 5.00% | 4.51% | 4.40% – 5.00% | +0.49% | 72nd |
| Avg. distribution (term)Pricing | 5.45% | 5.05% | 4.75% – 5.31% | +0.40% | 80th |
| Acquisition LTVLeverage | 0.00% | 46.93% | 38.27% – 50.20% | −46.93% | 100th |
| Offering LTVLeverage | 0.00% | 46.17% | 21.16% – 49.80% | −46.17% | 100th |
| Total upfront loadCost | 9.50% | 5.97% | 4.89% – 9.50% | +3.53% | 25th |
| Acquisition feeCost | 0.23% | 2.65% | 1.89% – 3.77% | −2.42% | 97th |
| ReservesCost | 0.11% | 5.54% | 1.76% – 9.03% | −5.43% | 0th |
| Property management feeOngoing | 3.50% | 5.00% | 3.00% – 5.00% | −1.50% | 60th |
| Disposition feeOngoing | 3.00% | 2.95% | 2.00% – 3.50% | +0.05% | 43rd |
| Offering | Sponsor | Cap rate | LTV | DSCR | Load | Hold | Match |
|---|---|---|---|---|---|---|---|
| NREX II DST | Nuveen Real Estate Exchange LLC | — | 0.00% | — | — | 20 yrs | 98% |
| MDI Overland Park Net Lease DST | MDI Sponsor, LLC | — | — | — | 9.00% | 2.0 yrs | 95% |
| Inland Alt Senior Living II DST | Inland | 7.53% | — | 3.00x | — | 12 yrs | 92% |
| Sealy Industrial DST | Sealy | — | — | — | 9.50% | 11 yrs | 92% |
| BR Diversified Industrial Portfolio 7 DST | BIGR Exchange 7 TRS, LLC | 6.66% | 0.00% | — | 9.45% | 10 yrs | 89% |
| MCG Arden NC Multifamily DST | Madison Long Shoals Manager, LLC | — | — | 1.64x | 10.50% | — | 89% |
| MCG Gainesville FL BTR DST | Madison Capital Group | — | — | 1.74x | — | 10 yrs | 89% |
| BV Ernest Health Neuro Rehab DST | Bridgeview Real Estate Exchange LLC | — | 0.00% | — | 9.97% | 20 yrs | 88% |
Match score is a normalised distance across the full extracted metric set — asset type, pricing, leverage, cost and structure all weighted equally.
Figures on this page are generated from automated extraction of offering documents and may contain errors or omissions. Verify every metric against the sponsor's offering materials before relying on it for an investment decision.