Kodiak Capital Advisors has acquired a newly constructed retail property located at the southeast corner of West Plano Highway and West Park Boulevard in Plano.
Kodiak purchased the property by utilizing the Delaware Statutory Trust (DST) 1031 exchange structure. Hobby Lobby occupies the 54,370-square-foot property. The name of the seller was not available.
This transaction is one of North Texas’ first DST acquisitions by a Dallas-based sponsor.
A DST is an ownership structure is an ownership structure that is created for business purposes, which can also be referred to as an unincorporated business trust. It is offered as a 1031 exchange replacement property for accredited investors seeking to defer capital gains taxes and as a straight cash investment for investors wishing to diversify real estate holdings.
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