Investment Offering
Platform Investments, a wholly owned subsidiary of Platform Ventures, is pleased to present the opportunity to invest in a portfolio of two 24 Hour Fitness locations in the Dallas/Fort Worth southern suburbs of Cedar Hill, Texas and Mansfield, Texas. Each location is 100% leased by 24 Hour Fitness. 24 Hour Fitness does not franchise its stores, so each lease is to a corporate subsidiary of 24 Hour Fitness.
1031 Exchange Opportunity
The offering is structured as a Delaware Statutory Trust (DST), a business trust created under Delaware law. On August 16, 2004 the IRS issued revenue Ruling 2004-86 which permitted DSTs to qualify as replacement properties as part of a property owner’s 1031 exchange transaction (if the other requirements of a 1031 exchange are satisfied).
| Offering Size | $10,700,000 |
| Investment Type | Delaware Statutory Trust |
| Min. Purchase (1031) | $100,000 |
| Min. Purchase (cash) | $50,000 |
| Investor Type | Accredited |
| Sponsor | Platform Ventures |
Portfolio Assets
The DST will acquire two 24 Hour Fitness locations in Cedar Hill, Texas and Mansfield, Texas, which have a total of 74,831 square feet.
Each location is 100% leased by 24 Hour Fitness. 24 Hour Fitness does not franchise its stores, so each lease is to a corporate subsidiary of 24 Hour Fitness.
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24 Hour Fitness Cedar Hill Village
213 N Hwy 67, Cedar Hill, TX 75104
- Current Population: 49,6152
- 2017 Consumer Spending: $527 million (within 3 mile radius)2
- Avg Household Income: $73,2852
- Traffic Count: +100,000 cars/day3
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24 Hour Fitness Mansfield, TX
1101 N Walnut Creek Dr, Mansfield, TX 76063
- Current Population: +67,0002
- 2017 Consumer Spending: $751 million (within 3 mile radius)2
- Avg Household Income: $121,5782
- Traffic Count: +100,000 cars/day3
Platform Ventures, through certain asset management subsidiaries,
manages over $1.3 billion of assets under management as of June 30, 2018.1
