Four Springs TEN31 Xchange Fully Subscribes $175M Pair of Industrial, Healthcare DSTs

Four Springs TEN31 Xchange, i.e., FSXchange, a sponsor of Delaware statutory trusts focused on industrial and healthcare 1031 real estate exchanges, announced the full subscription of two of its DSTs – FSC Industrial 32, DST at $159 million, and FSC Healthcare 29 DST at $15 million.

“Investor demand for high-quality, income-generating real estate remains strong, particularly in sectors benefiting from long-term structural trends,” said Matt Woehnker, president of Four Springs Capital Markets. “These successful closings reflect our continued focus on durable cash flow, strategic location, and institutional-grade tenants –principles that underpin our investment approach.”

FSC Industrial 32, DST, which launched in October 2024, comprises a newly constructed 1.1 million-square-foot industrial distribution facility leased to Ford Motor Company. The facility, located on 98 acres within the Detroit metropolitan statistical area, plays an essential role in Ford’s domestic supply chain operations, according to Four Springs. Ford has made a direct investment of $70 million in the facility, which operates in conjunction with its nearby 1 million-square-foot Velocity Parts Distribution Center.

FSC Healthcare 29 DST includes three single-tenant, triple-net-leased medical properties located in Utah and South Carolina. These facilities, totaling approximately 30,000 square feet, are occupied long-term by BioLife Plasma Services and Novant Health. The offering highlights strong credit tenants, competitive market rents, high-quality construction, and strategically advantageous locations with built-in annual rent escalations.

“We are extremely proud of the swift and successful subscription of our Industrial and Healthcare DST offerings,” said William Dioguardi, chairman of Four Springs TEN31 Xchange. “The strong response underscores the confidence investors place in our approach and execution.”

Founded in 2014, FSXchange is a DST sponsor focused on net-leased, single-tenant commercial properties within the industrial and medical sectors. FSXchange’s offerings are offered through Four Springs Capital Markets. Since entering the 1031 exchange market, Four Springs reports it has completed over 1,000 exchanges, involving more than $850 million in replacement properties and collaborating with over 3,000 professionals.

Earlier this year, according to AltsWire reporting, Natalie Stephens joined Four Springs Capital Markets as a senior vice president covering California and Hawaii.

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