LOS ANGELES and CARY, N.C., Nov. 11, 2016 (GLOBE NEWSWIRE) -- Kay Properties and Investments has successfully completed 100% of the $8,500,000 - 506c equity raise for the Shannon Oaks DST property located in Cary, N.C.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1dea71c9-16b8-4a38-8d06-1b066f205b2d
Shannon Oaks is a 56,571 sq. ft. two-story class A office building well located in Cary, N.C.
The Shannon Oaks DST was structured as an All-Cash/Debt-Free DST in an effort to potentially protect investors from lender foreclosure, refinancing risk, 1031 debt replacement risk and other potential risks found in leveraged properties.
The property was exclusively available to clients of Kay Properties and Investments, LLC seeking to complete a 1031 exchange as well as make a direct cash investment.
Dwight Kay, the founder and CEO of Kay Properties and Investments commented, “We believe Cary to be an ideal market to invest in due to its location just minutes from downtown Raleigh, the Research Triangle Park (RTP) and RDU International Airport.”
Mr. Kay continued, “With the overall vacancy rate for office product in Cary, N.C. at a low 6.4% as of 4th quarter 2015, we are extremely comfortable with owning an all-cash/debt-free DST property in this dynamic market for the long term.
Past performance is not a guarantee of future results. All real estate and DST properties contain various risks, including but not limited to, potential loss of principal invested, that cash flows/appreciation/returns are not guaranteed and could be lower than anticipated and adverse tax consequences.
Along with multiple large and small 1031 exchange and direct cash investors purchasing an interest in the Shannon Oaks DST, we are also proud to announce that multiple Kay Properties team members also personally invested in the property.”
To view this press release as an infographic please visit: http://www.kpi1031.com/dst-1031-exchange-press-release-infographic/
ABOUT KAY PROPERTIES AND INVESTMENTS, LLC
Kay Properties and Investments, LLC was founded by Dwight Kay to offer solutions to 1031 Exchange clients throughout the country.
Headquartered Specialists in Los Angeles, CA with offices in New York, N.Y. and Washington, D.C.
Specialists in the Delaware Statutory Trust (DST) 1031 Exchange Marketplace.
Offering DST Advisory Services to 1031 Exchange Clients and working with many major DST sponsor companies throughout the country.
Offering client exclusive DST properties solely available to Kay Properties clients.
Over $127,000,000 of DST properties purchased by our clients in 2015.
Licensed in all 50 states, Washington D.C. and the Virgin Islands.
Always Available to Help Our Clients - Weekends, Holidays and Whenever You Need Us.
Better Business Bureau A+ Accredited Business.
This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the "Memorandum"). Please be aware that this material cannot and does not replace the Memorandum and is qualified in its entirety by the Memorandum.
This material is not intended as tax or legal advice so please do speak with your attorney and CPA prior to considering an investment.
This material contains information that has been obtained from sources believed to be reliable. However, Kay Properties and Investments, LLC, Colorado Financial Services Corporation and their representatives do not guarantee the accuracy and validity of the information herein. Investors should perform their own investigations before considering any investment.
There are material risks associated with investing in real estate, Delaware Statutory Trust (DST) and 1031 Exchange properties. These include, but are not limited to, tenant vacancies; declining market values; potential loss of entire investment principal; that past performance is not a guarantee of future results; that potential cash flow, potential returns, and potential appreciation are not guaranteed in any way; adverse tax consequences and that real estate is typically an illiquid investment.
Please read carefully the Memorandum and/or investment prospectus in its entirety before making an investment decision. Please pay careful attention to the "Risk" section of the PPM/Prospectus. This material is not intended as tax or legal advice so please do speak with your attorney and CPA prior to considering an investment.
IRC Section 1031, IRC Section 1033, and IRC Section 721 are complex tax codes; therefore, you should consult your tax and legal professional for details regarding your situation.
Securities offered through registered representatives of Colorado Financial Service Corporation, Member FINRA / SIPC. Kay Properties and Investments, LLC and Colorado Financial Service Corporation are separate entities. OSJ Address: 304 Inverness Way S, Ste 355, Centennial, Colorado.
Kay Properties & Investments, LLC, is registered to sell securities in all 50 states.
DST 1031 properties are only available to accredited investors (generally described as having a net worth of over $1 million dollars excusive of primary residence) and accredited entities only (generally described as an entity owned entirely by accredited individuals and/or an entity with gross assets of greater than $5 million dollars). If you are unsure if you are an accredited investor and/or an accredited entity please verify with your CPA and Attorney prior to considering an investment. You may be required to verify your status as an accredited investor.
Dwight Kay - Founder Office: (855) 466-5927 Cell: (310) 404-7297 Email: Dwight@kpi1031.com Chay Lapin - Vice President Office: (855) 466-5927 Cell: (562) 882-7617 Email: Chay@kpi1031.com Jason Salmon - Senior Vice President and Managing Director of Real Estate Analytics Office: (855) 466-5927 Cell: (917)-837-1492 Email: Jason@kpi1031.com Betty Friant, CCIM – Senior Vice President Office: (202)-552-6627 Cell: (540)-550-1784 Email: Betty@kpi1031.com Cell: (540)-550-1784
Source:Kay PropertiesandInvestments, LLC