AEI Healthcare Portfolio VII DST
Medical office / outpatient healthcare (single-tenant NNN, 2022-2024 vintage) property in Surprise, AZ — sponsored by AEI Capital
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
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What is this, in one paragraph?
AEI Healthcare Portfolio VII DST is a Delaware statutory trust — a passive co-ownership vehicle whose interests can serve as 1031 replacement property — holding three single-tenant medical office buildings in Arizona, Texas and Connecticut. Sponsor material says AEI Capital acquired them without mortgage financing, and the Trust is offering up to $50,500,000 of equity to accredited investors: those meeting SEC income or net-worth tests.1
Minimum investment
$50k
Offering size
$50.5M
How much has sold
96.0%
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
All three buildings are recent construction: the HonorHealth office in Surprise, Arizona was completed in 2022, and the Texas Children's office in Austin and the ProHealth office in Bristol, Connecticut in 2024.1 Sponsor material reports an aggregate purchase price of $45,299,110 for the three projects.1 Matthews said the Bristol building at 1251 Farmington Avenue traded for $19,911,000 in December 2025, in a release that does not name this Trust.2
- Reported location
- Surprise, AZ
- 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 — and sponsor material reports all three fully occupied.1 The Trust does not lease to them directly: it leases to an AEI-affiliated master tenant, whose subtenants bear operating costs, insurance and maintenance, the net-lease arrangement that shifts those expenses onto the occupier.1
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
- Reported unsold
- $1,780,110
- Investors reported
- 142
- Total offering
- $50,500,000
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How is it financed, and what does it pay?
No mortgage and no lender means nothing to refinance, no maturity date and no foreclosure exposure — and no Trust-level debt an exchanger can use to replace a loan paid off on a relinquished property.1
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
AEI Capital sponsors net-leased real estate programs sold largely to 1031 exchangers, and a July 3, 2026 AltsWire directory feature profiled its debt-free Delaware statutory trust offerings. The August 6, 2026 Form D amendment names AEI Trust Advisors, Inc. and AEI Trust Manager, LLC as promoters, and Marni J. Nygard and Keith E. Petersen as executive officers of the manager.3 AEI announced on January 15, 2026 that it had fully subscribed the predecessor AEI Healthcare Portfolio V DST at more than $27 million.
- Sponsor
- AEI Capital
- 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 has amended the Form D repeatedly since the reported first sale on March 6, 2026, each amendment restating amounts sold and remaining while leaving the offering size unchanged.3 Interests are sold privately rather than publicly advertised. A sponsor-reported listing page updated July 31, 2026 marked the raise closed, so only the sponsor or your broker-dealer can confirm availability.1
- 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.
- Legal Trust name
- AEI Healthcare Portfolio VII DST
- Filings on record
- 10
- How it may be offered
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- 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.
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?
The sponsor’s SEC filings show the offering raising money within the past 15 months. A filing does not by itself confirm you can still buy in.
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, or has it closed?
The public record points two ways. AEI's most recent Form D amendment, filed August 6, 2026, still reported equity remaining to be sold. But the distributor listing page carrying the sponsor's offering detail, updated a week earlier on July 31, 2026, marked the offering closed with nothing available. A Form D is a periodic snapshot rather than live inventory, so only the sponsor or a participating broker-dealer can confirm what — if anything — is actually available today.
What does a debt-free DST mean for my exchange?
Sponsor material states the portfolio was acquired all-cash with no permanent mortgage financing. There is no loan to refinance and no lender that can foreclose. It also means the Trust carries no debt to count toward replacing debt on your relinquished property — an exchanger who paid off a mortgage on the sale would have to cover that amount with cash or with other replacement property.
Who occupies the buildings?
Three healthcare occupiers, one per building: HonorHealth in Surprise, Arizona; Texas Children's in Austin, Texas; and ProHealth in Bristol, Connecticut. Sponsor material reports all three buildings 100% occupied. At the time of the December 2025 Bristol sale, brokerage Matthews described that facility as a Class A medical office building on a 12-year triple-net lease — a structure under which the occupier pays taxes, insurance and maintenance — operated by UnitedHealthcare, though that release does not name this Trust.
Who collects the rent, and why does the master lease matter?
Sponsor material states the properties are leased to an AEI-affiliated master tenant, with the underlying subtenants operating the medical offices and responsible for operating costs, insurance and maintenance under their subleases. Rent therefore reaches the Trust through an intermediate affiliate rather than directly from the healthcare occupiers, so the master lease term, renewal rights and the master tenant's obligations are items to read in the PPM — the private placement memorandum that governs the offering. The sponsor offering page does not state property-specific lease commencement, expiration or remaining-term data.
How is the offering made, and what is the minimum?
The issuer's August 6, 2026 Form D amendment reports Rule 506(b) — the private-placement exemption that bars general advertising and limits sales to investors with a pre-existing relationship with the sponsor — and a minimum investment of $50,000 from any outside investor. Distributor listing data collected for this Trust instead shows a $100,000 minimum. The governing figure is in the PPM and the subscription documents.
Does the Texas Children's NICU expansion involve this building?
Texas Children's announced on August 13, 2026 a $39 million plan to expand the neonatal intensive care unit at its Austin facility from 14 to 31 rooms, also reported by KVUE. Nothing in the Trust's SEC filings or in the sponsor's offering material identifies that project as taking place at the Austin medical office held in this portfolio.
Chapter 9AEI 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.