New Acquisition: Midtown III

We are thrilled to disclose a noteworthy addition to our portfolio – the acquisition of Midtown III, a prominent Class A 77,248 sf office building located in Carmel, IN.

The decision to expand our footprint in this area was made easier by the continued success of the Allied Solutions Building, also located in Midtown Carmel. We believe Midtown III and the Allied Solutions Building to be two of the best buildings in the Indianapolis MSA, if not the state of Indiana. This strategic addition aligns with our commitment to enhance our asset base while maximizing share value.

Renowned as a premium Indianapolis submarket with the highest commanding office rents in the Indianapolis MSA, Carmel is consistently lauded as one of the premier living destinations in the U.S. Midtown III sits conveniently in the Midtown Carmel redevelopment corridor. With neighboring residential and multifamily buildings, retail hubs, office spaces, and shared public zones such as the neighboring public plaza (that sits at our sister property) and Monon walking/biking trail, this corridor pulsates with life and opportunities. It’s no surprise that this area of Carmel was designed by Jeff Speck, a world-renowned city planner who is also well-known for his $1bn+ revival of downtown Tampa, FL.

The property is situated directly between the Arts & Design District and Carmel City Center, the two main nodes of commercial activity in Carmel, ideally positioning it as the heart of Carmel.

Current Tenants

As of Q4 2023, Midtown III is 100% leased to the following tenants:

MJ Insurance: 37,964 sf through 2029. MJ Insurance is a privately-held insurance agency that provides a variety of personal and business insurance solutions, as well as employee benefits services.
Office Labs Carmel (dba Serendipity): 21,999 sf through 2034. Serendipity Labs is a high-end private office and co-working space.
Element Three: 6,687 sf through 2028. Element Three is a marketing consultancy firm.
Financial Partners Group: 5,569 sf through 2029. Financial Partners Group is a securities and investment advisory group.
TrueBlood Real Estate: 5,029 sf through 2026. TrueBlood Real Estate is an Indiana-based real estate and property management firm.

Invest Today

Midtown III joins a portfolio that includes the neighboring Allied Solutions Building, also in Carmel, IN, and Streitwise Plaza in St. Louis, MO. These are both Class A office assets with a current average occupancy over 90%, long-term debt in place, and high weighted average lease terms. Accredited & non-accredited investors can now own a part of this fast-growing live-work-play corridor.

By the Numbers

Current Offering: 1st Streit Office REIT
Size: 77,248 square feet
Property Type: Class A Office
Leverage: None
WALT (weighted average lease term): 6.9 years (as of Q4 2023)
Deal Details: Click here

Jeffrey Karsh

SW Manager, LLC (“Manager”) is a wholly-owned subsidiary of and controlled by Tryperion Holdings, LLC (our “Sponsor”). Manager is the external manager and advisor of 1st Streit Office Inc. (“1st Streit Office”) and 1st Streit Office Operating Partnership LP (our “Operating Partnership” and, together with 1st Streit Office, “Our Current Offering”). 1st Streit Office is the sole general partner of our Operating Partnership, through which all of our assets will be owned and substantially all of our operations will be conducted. All references herein to “Streitwise” refer, as applicable, to Manager, 1st Streit Office, the Operating Partnership, or any of their affiliates (collectively, the “Streitwise Entities”). Unless explicitly stated to the contrary, all references to “we,” “us,” and/or “our” shall refer to the Streitwise Entities. By using Streitwise, you accept our Terms of Service and Privacy Policy.

An offering statement regarding this offering has been filed with the SEC. This offering is structured as a non-traded real estate investment trust, or “REIT,” under Regulation A+ of the JOBS Act. The SEC has qualified that offering statement which only means that Streitwise may make sales of the securities described by that offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. You should read the Offering Circular before making any investment which is available here: streitwise.com/oc

You may have been referred to Streitwise by a third-party (“Solicitor”). Compensation to any Solicitor may be up to $200 per email registration. A Solicitor may promote and/or may advertise Streitwise’s investment services and may offer independent analysis and reviews of Streitwise’s services. Streitwise and any Solicitor are not under common ownership or otherwise related entities. We cannot ensure the accuracy of the data provided from any Solicitor.

Performance: Past performance is not a guarantee of future results. All historical returns, target returns, or hypothetical projections may not reflect actual future performance.
Risk: This investment involves a certain level of risk and may result in partial or total loss. We cannot guarantee that we will reach our target return for our investors.
Tax: Prospective investors should confer with their tax advisors regarding the tax consequences based on their particular circumstances. Neither Streitwise nor any Solicitor assumes responsibility for the tax consequences for any investor.
Liquidity: Investments in private placements are highly illiquid and those investors who cannot hold an investment for the long term should not invest. See Stockholder Redemption Plan in the OC.

¹ Dividends & returns: Current annualized dividend based on the most recent dividend declaration as of the quarter ending 9/30/2024. Dividend return calculations based on NAV at the time of dividend return. 3Q24 dividend payout of $0.13/share equates to a 7.2% dividend based on the current NAV. The REIT has averaged a 7.2% annualized dividend yield since 2020 and a 8.3% annualized dividend yield since 2017 based on the average NAV for the respective periods. See Quarterly Report for all returns history.
² Source: FTSE NAREIT All Equity REITs vs S&P 500.
³Sponsor Performance: Related to investments by Sponsor, Tryperion Holdings, as part of one of its prior programs, and not of any of the Streitwise Entities. Reflects gross IRR on realized investments in the Sponsor’s investment portfolio since inception. Sponsor performance data as of 4Q23.
⁴Target returns: We will seek to invest in real properties and other real estate-related assets that we believe can produce a strong return through a combination of cash flow and appreciation. We cannot guarantee that we will reach this target return for our investors.

This page may contain forward-looking statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Offering Circular. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

© 2024 Streitwise. All Rights Reserved. Apple, the Apple logo and iPhone are registered trademarks of Apple Inc. Streitwise is not affiliated with nor related to NAREIT or its annual REITwise conference.

Midtown III

Class-A Building in Carmel, IN - Now Available for Investment

Current Tenants

Invest Today

By the Numbers