**Las Vegas, Nevada, June 8, 2021** – Kingsbarn Realty Capital (“Company” or “Kingsbarn”) announced the acquisition of the Live Active apartment community in Mankato, Minnesota ("Property"). The Property is a 26-building, 524-unit, multifamily property situated on over 31 acres. The Property will be offered as a Delaware Statutory Trust (“DST”) investment by KB Exchange Trust, an affiliate of Kingsbarn, in early Fall, 2021.
"This purchase is an example of an opportunistic acquisition in which we were able to buy the asset at a significant discount due to the short-term market trepidation caused by the COVID-19 pandemic," said Jeff Pori, CEO of Kingsbarn Realty Capital. "We like that this community is over 95% occupied and has a long history of performing at or above the surrounding submarkets."
Although Live Active Apartments are typically 70%-80% occupied by students, the community is leased and operated as a traditional apartment community with 12-month leases and is rented by the unit rather than by the bed. Live Active Apartment Community is located within walking distance to Minnesota State University, the second-largest public university in Minnesota. The campus boasts that 80% of its student population lives off-campus, creating an inherent demand for this unique asset. In addition, the Property is proximate to over 900 acres of parks and recreational areas as well as amenity-rich neighborhoods which provide a great quality of life for Live Active's residents.
The Company will offer the investment interests in the Property as beneficial interests in a Delaware Statutory Trust ("DST"). The DST investment structure provides investors with fractional ownership in higher-quality properties as a simplified 1031 exchange solution. It is also very useful in helping investors diversify their real estate portfolios in a much easier fashion than attempting to purchase multiple properties on their own.
**About Kingsbarn Realty Capital**
Kingsbarn Realty Capital is a real estate private equity and development firm based in Las Vegas, Nevada. Kingsbarn structures its real estate investment opportunities for both fractional 1031 investors as well as providing customized portfolio solutions for large-scale investors. Kingsbarns’ management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties. Kingsbarn has acquired and currently operates over $500 million of commercial real estate throughout the United States. In 2020, Kingsbarn Capital and Development was founded as the company’s development arm to expand its product offerings for investors to include ground-up development of real estate assets and to fund operating companies who require real estate solutions across the United States.