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The Sponsor (or the Manager and sometimes the Broker/Dealer) is an entity that offers to Exchange a DST interest in real property to complete their exchange. The Sponsor has either placed the property under contract, built it or purchased it for an exchange. If a purchase, before committing to the purchase the Sponsor analyzes leases, ascertains structural soundness, assesses deferred maintenance and conducts in depth studies of market trends, demographics and tenant needs to determine whether or not the property is a desirable investment purchase. The Sponsor secures non-recourse financing, prepares a Private Placement Memorandum and after acquisition manages the property.

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