Medalist Diversified, Inc. announced its Delaware Statutory Trust (DST) sponsor platform, operated through its wholly owned subsidiary, MDRR Sponsor TRS, LLC.
The DST platform’s inaugural offering, MDRR XXV DST 1, is structured around a single-tenant, net-leased sales, service and delivery facility in Pensacola, Florida, leased to Tesla, Inc. The property is a 45,461-square-foot facility that serves as Tesla’s sales, service and delivery hub for Northwest Florida and Southern Alabama and includes more than 20 service bays, eight Supercharger stations, and over 150 parking spaces.
The offering is structured with approximately 47% loan-to-value financing and includes fixed-rate debt with coverage metrics consistent with institutional underwriting standards.
“We believe that Medalist is building a publicly traded sponsor platform where investors, advisors, and broker-dealer partners have clear visibility into the sponsor’s financials through our publicly available SEC filings,” said Brent Winn, CFO.
The sponsor plans to continue to focus its underwriting strategy on single-tenant and multi-tenant commercial real estate leased to institutional tenants, principally in the Southeast, mountain states, and California.
The offering is currently available only to accredited investors through registered broker-dealers and registered investment advisors.
The post Medalist Launches DST Sponsor Platform With Tesla-Leased Asset appeared first on Connect Money.
