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GSA Birmingham Government DST

Property Description

The GSA Birmingham office (the “GSA Birmingham Facility”) is an eight-story, 587,528 rentable square feet office building with 1,715 parking spaces located in an adjacent five-level parking garage and 50 surface visitor parking spaces. The GSA Birmingham Facility is strategically located within the City of Birmingham, Alabama to align SSA operations with long-term GSA priorities. The GSA Birmingham Facility is located on seven acres in downtown Birmingham’s Fountain Heights neighborhood, which includes the city’s Fourth Avenue Business District and Civil Rights District.

Acquistion Details

Total Equity

$111,338,114

Total Debt

$184,900,000

Total Value

$296,238,114

Loan-to-value

62.42%

Sq Ft.

587,528

Year Built

2008

Address

1200 8th Ave. N., Birmingham, AL 35285

Financial Details

Purchase Price

$275,803,513

Reserves

$753,770

Loan interest rate

3.25%

Loan term

7 years

Interest only period

7 years

Business Plan

The principal objectives of the Master Trust are to (1) preserve the Investors’ capital investment, (2) make regular monthly distributions to the Beneficial Owners (as defined herein) out of net cash flow distributed to the Master Trust, as shown on in the Master Trust Pro-forma attached hereto as Exhibit C, and (3) complete a sale of the Property subject to the Master Lease prior to the maturity date of the Loan to maximize the Investors’ return of capital. There can be no assurance these objectives will be achieved. See the “RISK FACTORS” section of this Memorandum.

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