Kingsbarn Realty Capital / Development?
Hey WSO, was wondering if anyone here has ever heard or worked with Kingsbarn Realty? They seem to be a relatively small REPE firm that was founded not too long ago. I couldn't find much online and was wondering if anyone has known anyone to work there?
Bump
Big DST players. The buy properties, raise DST money and then sell the property to the trust. They have a small dev team that does one-off multi and student housing deals around the country
Dumb question but what’s DST?
As others have said, they are a DST. Delaware Statutory Trust - sellers of cre can 1031 into the property (which will usually be a class-A or B/quasi-intuitional property owned or under contract by the trust) and the seller/now-buyer will own a certain amount of shares in the property along with other investors and relieve themselves of management duties while receiving a proportional amount of the rent.
DST's are effectively an alternative to the common strategy of mom-and-pop's selling their apartment building (or other cre assets but typically multifamily) and 1031'ing into a NNN; so instead of buying a run-of-the-mill Dollar General in Bullshit, Colorado you have access to a class-a office building in Bullshit-Metro, Colorado managed by a professional management team. Pros: You are investing in high-quality, well-located, and professionally managed real estate. Cons: You don't have control of your real estate, it's a bitch to sell your shares if you want out early.
Also, they own a fat ass catamaran sailboat that is parked in front of Ballast Point in Long Beach, CA. I could be wrong but that is the sales pitch I remember and I am definitely right about the boat (they also own a ranch somewhere).
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