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CAI Investments Fully Subscribes DST Offering of Cincinnati Industrial Property

CAI Investments, LLC, a property manager/developer and private placement sponsor, has fully subscribed a Delaware Statutory Trust offering of a 650,000-square-foot manufacturing facility in the Cincinnati suburb of St. Bernard, Ohio.

The offering, CAI Investments Healthcare Products I DST, launched at the end of April 2022 and raised $25.8 million in investor equity.

The property, which was purchased for $46.6 million, is located next to a major freeway with direct access to rail transportation. It is fully occupied by VVF Cincinnati LLC, a subsidiary of VVF Intervest U.S., a manufacturer and distributor of personal care products and one of the largest contract manufacturers of bar soaps in the United States. Its customers include Dial, Johnson & Johnson, Pfizer, Wal-Mart, CVS Pharmacy, among others.

According to CAI, the DST offering “gained traction” with the registered investment adviser and broker-dealer community as advisors sought triple-net lease DST opportunities.

“CAI continues to provide offerings that complement the core risk adjusted holdings within DST allocations,” said James Hickey, senior vice president of capital markets. “We are not trying to be everything to everyone, but to provide a product that advisors and investors can understand and are comfortable choosing to invest in.”

Christopher Beavor, founder of CAI Investments, noted that the firm’s relationship with the tenant, VVF, led to another commercial real estate opportunity.

“We strive to work closely with our tenants, building relationships of trust so that our DSTs operate smoothly. Sometimes this can lead to other commercial real estate opportunities, which it has in this case as we just went under contract for another facility,” he said.

Headquartered in Las Vegas, CAI Investments is a real estate development company that finances, develops, and manages commercial properties in key markets across the United States with assets such as the Westin Tempe hotel, Reno City Center (formerly Harrahs’ Casino), and DSTs throughout the country.

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