Four Springs Capital
Four Springs Capital reaches the 1031 market through Four Springs TEN31 Xchange, sponsoring net-lease DSTs concentrated in single-tenant industrial and medical properties under long-term leases to credit tenants such as…
Overview
Four Springs Capital reaches the 1031 market through Four Springs TEN31 Xchange, sponsoring net-lease DSTs concentrated in single-tenant industrial and medical properties under long-term leases to credit tenants such as Ford, Eaton and Carhartt. A deliberate focus on the $5 million-to-$200 million deal range keeps it below the institutional bid and above the retail scrum, a niche it has worked across more than 1,000 completed exchanges and over $1 billion in equity raised. As a subsidiary of Four Springs Capital Trust, it offers an UPREIT roll-up into the REIT, combining credit-tenant durability with a defined exit.
Key strategies & advantages
- Reaches exchangers via Four Springs TEN31 Xchange, net-lease DSTs in single-tenant industrial/medical assets (Ford, Eaton, Carhartt).
- Deliberately targets the $5M-$200M deal range, below the institutional bid and above the retail scrum.
- Has completed more than 1,000 exchanges, deep 1031 throughput.
- Offers an UPREIT roll-up into the affiliated Four Springs Capital Trust REIT.
- Has acquired $1.3B+ in single-tenant net lease and raised $1B+ in equity.
Track record
Four Springs Capital has 24 full-cycle programs in the Baker 1031 dataset, averaging 7.05% annual return, a 1.47x average equity multiple, and a 3.3-year average hold.
| Investment | Location | Asset Class | Hold | Equity Multiple | Annual Return |
|---|---|---|---|---|---|
| Aaron's Inc. – Anderson, SC | Anderson, SC | Retail | 2.41 | 1.17x | 7.20% |
| Aaron's Inc. – Artesia, NM | Artesia, NM | Retail | 2.79 | 1.2x | 7.20% |
| Aaron's Inc. – Charleston, SC | Charleston, SC | Retail | 2.56 | 1.18x | 7.01% |
| Aaron's Inc. – Huntsville, AL | Huntsville, AL | Retail | 2.59 | 1.19x | 7.20% |
| Aaron's Inc. – Newport News, VA | Newport News, VA | Retail | 3.01 | 1.22x | 7.20% |
| Advance Auto Parts – Garner, NC | Garner, NC | Retail | 1.53 | 1.12x | 7.50% |
| Dollar General – Charlotte, NC | Charlotte, NC | Retail | 1.99 | 1.15x | 7.75% |
| Dollar General – Eden, NC | Eden, NC | Retail | 1.47 | 1.18x | 8.00% |
| Dollar General – Elizabeth City, NC | Elizabeth City, NC | Retail | 1.68 | 1.13x | 7.50% |
| Dollar General – Fort Braden, FL | Fort Braden, FL | Retail | 1.05 | 1.07x | 7.00% |
| Dollar General – Midway, GA | Midway, GA | Retail | 2.21 | 1.17x | 7.75% |
| Dollar General – Pensacola, FL | Pensacola, FL | Retail | 0.86 | 1.06x | 7.00% |
| Dollar General – Savannah, GA | Savannah, GA | Retail | 1.29 | 1.09x | 7.26% |
| Dollar General – Winter Haven, FL | Winter Haven, FL | Retail | 1.84 | 1.14x | 7.70% |
| Family Dollar – Memphis, TN | Memphis, TN | Retail | 0.4 | 1.03x | 7.12% |
| Family Dollar – Milledgeville, GA | Milledgeville, GA | Retail | 0.53 | 1.04x | 7.75% |
| Family Dollar – Verona, PA | Verona, PA | Retail | 0.89 | 1.06x | 7.25% |
| FSC AS Jonesboro AR, DST | Academy Sports | Retail | 6.99 | 2.44x | 6.27% |
| FSC AS Mt. Juliet TN, DST | Academy Sports | Retail | 7.82 | 2.37x | 4.75% |
| FSC BJ Tilton NH, DST | BJ's Wholesale Club | Retail | 8.25 | 2.64x | 7.74% |
| FSC GM Lebanon IN, DST | Gander Mountain (bankrupt; reworkout) | Industrial | 11.57 | 2.42x | 3.66% |
| FSC Healthcare II, DST | Medical Office tenant | Healthcare | 7.28 | 2.41x | 5.61% |
| FSC MRC Odessa TX, DST | MRC Global | Industrial | 8.47 | 2.79x | 9.27% |
| O'Reilly Automotive – Atmore, AL | Atmore, AL | Retail | 0.58 | 1.04x | 6.50% |
Figures are sponsor-reported and not independently verified; they may reflect selection and survivorship bias, and past performance does not guarantee future results. “Preferred” is Baker’s internal designation, not a rating or endorsement.
Current offerings from this sponsor
Baker 1031 tracks this sponsor’s active DST and 1031-eligible offerings. Verified investors can review what’s currently available. Browse current offerings →
Gerald F. “Jerry” Baker, III — Founder & Managing Principal, Baker 1031 Investments · FINRA Series 22 / 63 · SIE. Read full bio →
Sponsor figures are sponsor-reported and not independently verified; they may reflect selection and survivorship bias, and past performance does not guarantee future results. This profile is educational and is not investment advice or an offer to sell or a solicitation to buy any security. Offerings are available only to accredited investors and are made solely through the sponsor’s Private Placement Memorandum. Securities offered through Aurora Securities, member FINRA/SIPC. Real estate investments involve risk, including possible loss of principal.