The Trust owns the Las Vegas Raiders' headquarters and training facility in Henderson, Nevada: a 336,227 square foot build-to-suit building on a 24.5-acre ground-leased site, 100% leased to Raiders Football Club, LLC on an absolute net basis through February 2049. The Trust assumed a fixed-rate credit tenant lease loan sized so that rent roughly equals debt service. Investors receive no cash distributions during the hold; their return comes from loan amortization and any gain on a sale, which the Sponsor targets in about ten years. The offering is built for 1031 exchangers who need to replace relinquished debt.