Phase I
Deploy
Capital providers fund acquisitions via affiliated liquidity provider. NNN real estate assets are purchased by the Sponsor.
Phase II
Recycle
DST interests sold to 1031 exchange investors each quarter. Proceeds return to fund the next batch. One pool of capital serves multiple cohorts.
Phase III
Return
Properties sold after 2-5 year hold. Capital providers receive principal plus preferred return. 1031 investors exit or re-exchange.