Landmark Dividend Solar Land 1 DST

Great Valley Solar – Fresno County, CA

Total Purchase Price:$17,259,000

Appraised Value Per Acre: $11,750

  • Purchase Price Per Acre: $10,562
  • Year 1 Rent (Investor): $906,109
  • Minimum Cash Investment: $25,000
  • Offering Type: Reg D

Landmark Dividend LLC, (“Landmark” or “sponsor”) is offering to accredited investors the opportunity to invest in the land beneath the Great Valley Solar project through Delaware Statutory Trust (“DST”) interests in Landmark Dividend Solar Land 1 DST.

Great Valley Solar - Fresno County, CA

Three adjacent parcels of land in Fresno County, CA totaling approximately 1,634 acres (currently owned by the sponsor), used for four solar farms

Transaction Overview

  • Total Purchase Price: $17,259,000
  • Total Loan Amount: $0
  • Purchase Price Per Acre: $10,562
  • Year 1 Rent (Investor): $906,109
  • Year 1 Cash on Cash Return:5.25%
  • Year 5 Cash on Cash Return: 5.36%
  • Year 10 Cash on Cash Return: 5.65%
  • Appraised Value: $19,200,000
  • Appraised Value Per Acre: $11,750
  • Offering Type: Reg D
  • Minimum Cash Investment: $25,000
  • Minimum Cash Investment 1031: $100,000
  • Expected Distribution Frequency: Quarterly
  • Est. DST Investment Term: 5 Years
  • Sponsor Acquisition Fee: 6.40% of total purchase price

Transaction Highlights

Landmark Dividend LLC, (“Landmark” or “sponsor”) is offering to accredited investors the opportunity to invest in the land beneath the Great Valley Solar project through Delaware Statutory Trust (“DST”) interests in Landmark Dividend Solar Land 1 DST. The property is 100% leased, is located in Fresno County, California, will not have any leverage, and is currently owned by the Sponsor.

  • Three adjacent parcels of land in Fresno County, CA totaling approximately 1,634 acres (currently owned by the sponsor), used for four solar farms
  • Tenants recently executed a 25 year lease with 2-5 year extensions
  • Leases increases 1% per year for the first 20 years and 2% thereafter
  • NNN lease with minimal landlord financial responsibilities
  • No leverage eliminates foreclosure and refinance risk
  • Long and very stable operating history of all counterparties including the solar developer, project owner, and PPA providers
  • Investment grade PPA providers are obligated to purchase power over 15 to 20 years
  • Appraised value of land is $19.2 million as of January, 2018
  • The project will provide power to 90,000 homes in California
  • Sponsor estimates that there is $280 million worth of solar equipment installed on the land parcels
  • Tenants are subsidiaries of Sempra Energy (NYSE: SRE) (investment grade Moody’s Baa1)
  • Sponsor is very experienced in the acquisition of land and easements beneath infrastructure assets
  • Sponsor has $1.4 BB in assets under management on over 3,000 acquisitions since 2010

Great Valley Solar Overview

The three adjacent properties are 100% occupied by subsidiaries of Sempra. Great Valley Solar is fully contracted under four independent long-term PPAs. Sempra estimates it will generate enough clean electricity to power approximately 90,000 homes, reducing greenhouse gas emissions by about 451,000 tons annually, the equivalent of taking 86,500 cars off the road.

PPA Provider Overview

There are four PPA providers, three of which are investment grade and rated by Moody’s as shown in the table below. The fourth, Marin Clean Energy, is an electricity aggregator and a stable entity with 10 years of history and an operating relationship with PG&E.

ABOUT Landmark Dividend

Jeffrey Knyal
Vice Chairman
310.294.8180 | Office
310.697.6319 | Mobile
310.294.8175 | Fax
jknyal@landmarkdividend.com
www.landmarkdividend.com
2141 Rosecrans Ave., Ste. 2100
El Segundo, CA 90245
Securities offered through Orchards Securities, LLC, member FINRA/SIPC