NAI Legacy Completes Syndication of $43M DST Portfolio
NAI Legacy has fully subscribed the $42.5-million Essential Net Leased Midwest DST offering. As a sponsor of the DST, Minneapolis-based NAI Legacy helped 50 1031 Exchange investors from 18 states: Colorado, Florida, Georgia, Kentucky, Massachusetts, Maine, Minnesota, Montana, North Carolina, New Hampshire, New Jersey, New York, Oregon, Rhode Island, Texas, Virginia, Washington, Wyoming.
“The partnership between NAI Legacy and our managing broker-dealer, Emerson Equity, was fundamental in bringing several investors into the asset,” said COO DeeAnn Peissig. “The speed of the syndication of this portfolio was outstanding. Emerson connected us with investors that are now invested in a high-quality, diversified portfolio of net-leased properties.”
Added Spencer Lund, SVP of investments, “Given our current economic cycle, investors have been eager to participate in our offerings, which have been designed to preserve capital and to pay attractive returns that are both pandemic resilient and can be largely tax deferred.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).