AEI Healthcare Portfolio VII DST
Medical office / outpatient healthcare (single-tenant NNN, 2022-2024 vintage) property in Multi-state (3) — sponsored by AEI Capital
Files with the SEC as AEI Healthcare Portfolio VII DST
Minimum investment
$50k
Offering size
$50.5M
How much has sold
96.0%
Asset type
Medical office / outpatient healthcare (single-tenant NNN, 2022-2024 vintage) property
Location
Multi-state (3)
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
AEI Healthcare Portfolio VII DST is a Delaware statutory trust — a passive co-ownership vehicle whose interests can be used in a 1031 exchange — holding three single-tenant medical office buildings in Arizona, Texas and Connecticut. AEI Capital bought them without mortgage debt and is offering up to $50.5 million of equity to accredited investors under Rule 506(b).1 The raise opened in March 2026 and remains open.
a three-property, net-leased healthcare real estate portfolio comprising a HonorHealth medical office in Surprise, Arizona, a Texas Children's medical office in Austin, Texas, and a ProHealth medical office in Bristol, Connecticut · Debt-free, min $100K, Y1 5.00% to 6.14% Y10; WALT 13.6yr; leases to 2037-2042; ~50.85% still available 5/2026
Show sources (5)Hide sources (5)
These links support the public record as a whole; individual details may come from different sources.
What exactly is the property?
All three buildings are recent construction: a HonorHealth medical office in Surprise, Arizona finished in 2022, a Texas Children's office in Austin, Texas in 2024, and a ProHealth Physicians building in Bristol, Connecticut in 2024.2 AEI bought the Bristol property at 1251 Farmington Avenue from Endurance Properties for about $19.9 million, reported January 14, 2026.3 Matthews brokered that all-cash sale.4 Prices for the Arizona and Texas buildings do not appear in public filings.
- Reported location
- Multi-state (3)
- Property size
- 3 properties; roughly 12,026 square feet (HonorHealth), roughly 12,642 square feet (Texas Children's), and roughly 26,547 square feet (ProHealth)
Who is the tenant, and what's the lease?
Each building has one healthcare occupier — HonorHealth, Texas Children's and ProHealth Physicians — and the sponsor reports all three fully leased to an AEI-affiliated master tenant, with subtenants responsible under their subleases for operating costs, insurance and maintenance.2 Matthews described the Bristol building as carrying a 12-year triple-net lease, meaning the occupier pays those expenses directly.4
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
96.0% reported sold
- Amount sold
- $48,719,890
- Still available
- $1,780,110
- Investors reported
- 142
- Total offering
- $50,500,000
See how much of this offering has soldSign in by email and confirm you’re an accredited investor.
How is it financed, and what does it pay?
The Trust owns the portfolio outright, with no mortgage and no lender: there is no loan to refinance, no maturity date, and no foreclosure exposure — but also no debt for an exchanger with a mortgage to replace.2 AEI's 1031 platform has long been built on unleveraged ownership.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
AEI Capital sponsors the Trust through AEI Trust Advisors, Inc. and AEI Trust Manager, LLC, both named in the Form D, with Marni J. Nygard as president of the manager and Keith E. Petersen as chief financial officer.1 The firm specializes in debt-free net-leased healthcare and retail portfolios sold to 1031 exchangers. On January 15, 2026 AEI announced it had fully subscribed the predecessor AEI Healthcare Portfolio V DST at more than $27 million.
- Sponsor
- AEI Capital
- Legal Trust name
- AEI Healthcare Portfolio VII DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 8 total offerings from AEI Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
AEI filed the original Form D on March 16, 2026, reporting a first sale on March 6, 2026, and has amended it repeatedly since as subscriptions accumulated.1 Interests are sold privately to accredited investors — people meeting SEC income or net-worth tests — rather than by public advertising, so access runs through broker-dealer relationships.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 10
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What should I verify in the PPM?
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is AEI Healthcare Portfolio VII DST still raising money?
Top1031 lists AEI Healthcare Portfolio VII DST as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for AEI Healthcare Portfolio VII DST?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Is this offering still open?
Yes. AEI filed a Form D amendment on August 6, 2026, the tenth filing on record, and it still reported equity available. Because the Trust is sold under Rule 506(b), a private-placement rule barring general advertising, availability changes between filings and is confirmed only by the sponsor or your broker-dealer.
What does a debt-free DST mean for my exchange?
There is no mortgage on the three properties, so there is no loan to refinance and no lender that can foreclose.[2] It also means the Trust carries no debt for you to count toward replacing debt on your relinquished property — an exchanger with a mortgage payoff would need to cover that with cash or other replacement property.
Who occupies the buildings?
Three healthcare tenants, one per building: HonorHealth in Surprise, Arizona; Texas Children's in Austin, Texas; and ProHealth Physicians in Bristol, Connecticut.[2] The Bristol facility was reported as operated under a UnitedHealthcare-affiliated 12-year triple-net lease at the time of the December 2025 sale.[4]
What is the minimum investment?
The Form D reports a $50,000 minimum for outside investors.[1] Sponsor-affiliated marketing pages have shown a higher figure, so the governing amount is the one stated in the PPM and subscription documents.
Can this convert into REIT shares through a 721 exchange?
The record shows no 721/UPREIT exit — a structure where DST property is contributed to a REIT in exchange for operating-partnership units. Nothing in the filings or the sponsor's offering material describes such a path for this Trust, so an eventual sale of the properties is the exit contemplated.
Who bought the Bristol property and when?
AEI Capital Corp. acquired 1251 Farmington Avenue in Bristol, Connecticut from Endurance Properties for approximately $19.9 million, in a sale brokered by Matthews and announced December 22, 2025 and reported by CoStar on January 14, 2026.[3]
Chapter 10AEI Capital Corp. buys medical office in Bristol, ConnecticutAEI Capital Corp. purchased a new medical facility in Bristol, Connecticut, from Endurance Properties for $19.9 million; the property is leased to UnitedHealthcare for 12 years and is the underlying asset of AEI's Healthcare Portfolio VII DST. Matthews Facilitates $19.9 Million All-Cash Sale of UnitedHealthcare-Operated FacilityMatthews brokered the $19,911,000 all-cash sale of the newly built ProHealth Physicians of Bristol facility at 1251 Farmington Ave, Bristol, CT, a Class A MOB on a 12-year NNN lease to UnitedHealthcare. Medical office building in Bristol sold for nearly $20MHartford-area business journal reported the medical office building at 1251 Farmington Ave, Bristol, CT, a 26,255-sf Class A MOB leased to UnitedHealthcare under a 12-year NNN lease, sold for nearly $20 million to a private retail-oriented fund.