NexPoint Raises $137M for Inland Empire DST

September 30, 2025

Investment Industrial Inland Empire News More West

A semiconductor manufacturer leases the nearly 400,000-square-foot facility.

NexPoint has fully subscribed its semiconductor manufacturing DST, amassing $137 million in equity. The trust owns a 391,231-square-foot industrial property in Temecula, Calif., within the Inland Empire, Yardi Research Data shows.

The investment firm launched the DST in 2023. That same year, it paid $66 million for the facility, the same source shows. The property also became subject to a $75 million CMBS note originated by KeyBank within the next few months.

Skorpios Technologies fully leases the manufacturing plant. It has a 15-year initial agreement duration with multiple extension options. The company’s triple net lease has built-in 3 percent annual rent escalations.

The tenant designs, develops and produces semiconductors supporting various industries and applications, from video, data and voice communication to cloud computing, networking and more.

The 1985-built property is at 41915 Business Park Drive, nearly halfway between San Diego and Los Angeles. Interstate 15 runs less than 1 mile away, while Interstate 215 is some 5 miles away.

NexPoint’s DST and 1031 Exchange platform had $15.5 billion of real estate assets under management at the end of June. Since its inception in 2012, the company has invested $21.3 billion in acquisitions.

DST investment goes up

Equity raised across DSTs clocked in at nearly $4.9 billion year-to-date through August, according to DST News. That was approximately $1.4 billion higher than the figure registered during the same period of last year.

The industrial sector stood as an investor favorite with more than 34 percent of the capital raised being earmarked for it, the same source shows. Multifamily investments followed, with roughly 30 percent of the total.

As DST capital starts moving, 1031 exchanges follow. Hines’ own platform closed one such deal earlier this year. The company paid a combined $267.2 million for two industrial collections spanning 2.5 million square feet in two separate deals.