# Government Lease Holdings 2 DST

> The facility (the “VAWS Facility”) consists of an approximately 353,238 rentable square foot (280,000 net usable square foot) clinic building with 1,914 parking spaces, located on an approximate 39.26 acre site at 1695 Kernersville…

Source: https://baker1031.com/invest/government-lease-holdings-2-dst


## Key terms

| Term | Value |
|---|---|
| Status | Open |
| Property type | Net lease |
| Sponsor | NLC |
| Location | North Carolina, Maryland |
| Minimum investment | $100,000 |
| Year-1 projected distribution | 4.50% |
| Average projected distribution | 4.65% |
| Projected hold | 10 yrs |
| Offering size | $402,397,396 |
| Equity raise | $174,652,396 |
| Debt | $227,745,000 |
| Loan-to-value | 56.6% |
| 721 exit | Optional |

## Projected distributions by year

| Year | Projected distribution |
|---|---|
| Year 1 | 4.50% |
| Year 2 | 4.50% |
| Year 3 | 4.50% |
| Year 4 | 4.50% |
| Year 5 | 4.50% |
| Year 6 | 4.50% |
| Year 7 | 4.75% |
| Year 8 | 4.75% |
| Year 9 | 5.00% |
| Year 10 | 5.00% |

## Overview

The facility (the “VAWS Facility”) consists of an approximately 353,238 rentable square foot (280,000 net usable square foot) clinic building with 1,914 parking spaces, located on an approximate 39.26 acre site at 1695 Kernersville Medical Parkway, Kernersville, NC 27284. The VAWS Facility was developed as a “build-to-suit” property in conjunction with the Government, acting by and through the VA.

The USCIS Property consists of an approximately 574,767 rentable square feet four-story, Class-A office building and seven-level parking garage with 1,770 spaces (with 8 spaces reserved for official government vehicles and 4 reserved for the USCIS Property Trust) located on approximately 10.7 acres in Camp Springs, Maryland, a suburb of Washington, DC. The facility was developed as a “build-to-suit” property in conjunction with the Government, acting by and through the GSA.

The USCIS Property is the headquarters of the U.S. Citizenship and Immigration Services (“USCIS”), an agency within the Department of Homeland Security. As of July 2022, the USCIS Property is the 16th largest facility leased by the GSA, and the largest facility leased for use by the USCIS.

## Offering documents

Available to registered investors:

- NLC - Government Lease Holdings 2 DST - Executive Summary (PDF)
- NLC - Government Lease Holdings 2 DST - PPM (PDF)
- Executive Summary (PDF)
- PPM (PDF)

Information reflects my offering records as of October 28, 2026 and may have changed. Projected distributions are the sponsor's estimates, are not guaranteed, may change or stop, and may include a return of capital. To request the offering documents, contact hello@baker1031.com or visit https://baker1031.com/invest/government-lease-holdings-2-dst.

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Securities are offered through Aurora Securities, Inc., member FINRA/SIPC. Baker 1031 Investments, LLC is independent of Aurora Securities, Inc. and is not a registered broker-dealer or investment adviser. This content is general education, not investment, tax, or legal advice, and is not an offer to buy or sell securities. Offers are made only through the offering documents to eligible investors, generally accredited investors. DST interests are illiquid, distributions are not guaranteed, and you can lose your entire investment.

Contact: Jerry Baker, Baker 1031 Investments · hello@baker1031.com · (415) 965-0552 · https://baker1031.com/contact