Company News
Kingsbarn Purchases FedEx Ground Distribution Center in Toledo, Ohio
Las Vegas, Nevada, April 6, 2023 – Kingsbarn Realty Capital ("Company" or "Kingsbarn") announced the acquisition of a FedEx Ground Distribution Center in Bowling Green, Ohio, part of the Toledo metropolitan statistical area (MSA). The Property was a build-to-suit for Fed Ex Ground which has leased the Property for 15 years. The +/- 250,000 sq. ft. industrial facility sits on a 49.3-acre parcel and has a clear height of 32 feet. The building has 73 truck-docks and 10 grade-level overhead doors with a 120-foot truck court.
FedEx Ground is the most rapidly growing business segment of the company as it competes favorably with UPS. The large parcel will allow FedEx Ground to expand in the future at this strategically important location and demonstrates FedEx's long-term intention of servicing this area for years to come.
Kingsbarn will offer the Property for investment in a Delaware Statutory Trust structure, thereby making the fractional interests eligible as a 1031-exchange replacement property. "This acquisition is ideal for our Delaware Statutory Trust (DST) program," stated Kingsbarn CEO Jeff Pori. "Investors are looking for industrial properties and also high-quality tenants during these turbulent times," Pori further stated. "The parent company for FedEx Ground is an exceptional global company with revenues over $93 billion and an S&P rating of 'BBB' stable."
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate centric investment house that provides institutional and accredited investors access to an array of alternative investments. Kingsbarn offers investments in private equity, exchange traded funds, traditional investment funds, private placements, and Delaware Statutory Trusts (DSTs). Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties as well as ground-up construction, value-added offerings, opportunity zone investments, and entitlement projects. Kingsbarn has over $1.5 billion of assets under management and has acquired over 250 properties throughout the United States. The company currently has a development pipeline of over $2 billion consisting of multifamily, student housing, industrial, retail, and hospitality.
Media Contact:
Holly Silvestri / Emma Williams
The Ferraro Group -702-367-7771
holly@theferrarogroup.com
emma@theferrarogroup.com
No Offer
This is not an offer. An offer will only be made pursuant to the delivery of the required offering documents, including the private placement memorandum, as supplemented or amended (the “Memorandum”) and only in states in which the securities offered pursuant to the Memorandum are registered or exempt from registration requirements, and only by broker-dealers authorized to do so. This information discusses general information about the portfolio and is not a guarantee, prediction or projection of future performance. Diversification does not protect against loss or guarantee return. There are risks associated with investing in real estate assets, such as inflation, interest rates, real estate tax rates, changes in the general economic climate, local conditions such as population trends and neighborhood values, and supply and demand for similar property types. Investing in DSTs and 1031 exchanges involves significant tax consequences. Please refer to the Memorandum for detailed information about the offering and its associated risks and implications.
Forward-Looking Statements
This press release may contain forward-looking statements identified by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. Kingsbarn assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.