AEI Net Lease Portfolio 21 DST
Net lease property in St. Paul, MN · sponsored by AEI Capital
AEI Net Lease Portfolio 21 DST was a DST sponsored by AEI Capital that owned a net lease property in St. Paul, MN. Its last Form D, filed Aug 10, 2023, reports the offering fully sold.
How it ended
The last Form D, filed Aug 10, 2023, reports the offering fully sold.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $27,575,000Equity offered, per the Form D
- Sold
- 100%Form D, Aug 10, 2023; the % is our arithmetic
- Investors reported
- Form D, Aug 10, 202342
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,378,750 · 5.0% of offering
- Financing
- All cash. This offering reports no mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: AEI Net Lease Portfolio 21 DST. Top1031 is not a broker-dealer.What did AEI Net Lease Portfolio 21 DST own?
The SEC record identifies the issuer but not its real estate: no addresses, square footage, or tenant names appear in the Form D filings, and none surfaced in publicly indexed sponsor releases. The Trust was organized in Delaware in 2022 and files from AEI's office at 30 East 7th Street in St. Paul, Minnesota. 1 A third-party page describes a five-property retail and medical-office mix, but it states its examples are not available for investment, so the match is unconfirmed. 2
- Reported location
- St. Paul, MN
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
The filings on record name no lender and do not disclose whether the Trust carries mortgage debt. One third-party page reports the portfolio was bought without a loan, but no primary property or loan schedule was located to corroborate it. 2
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $1,378,750 · 5.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,103,000 · 4.0% of offeringForm D Item 16· The filing’s note: “In addition, AEI Net Lease Portfolio 21 Depositor, LLC will be responsible for paying certain fees and costs of approximately $1,148,250.”
- Broker-dealers named in the Form D
- 12 named in the Form D
Show the firms
- Ameritas Investment Company, LLC · CRD 14869
- Arkadios Capital · CRD 282710
- Aurora Securities · CRD 46147
- Avantax Investment Services, Inc. · CRD 13686
- Concorde Investment Services, LLC · CRD 151604
- DFPG Investments, LLC · CRD 155576
- IBN Financial Services, Inc. · CRD 42360
- McDermott Investment Services, LLC · CRD 154926
- Metropolitan Capital Investment Banc, Inc. · CRD 148820
- Private Client Services, LLC · CRD 120222
- Realized Financial, Inc. · CRD 22333
- Saxony Securities, Inc. · CRD 115547
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Feb 8, 2023
- Minimum investment
- $50,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind AEI Net Lease Portfolio 21 DST?
AEI Capital is a St. Paul, Minnesota sponsor that has assembled single-tenant net-lease real estate for exchange investors through a family of numbered Net Lease Portfolio programs, of which this Trust is one. The SEC filings name AEI Trust Advisors, Inc. and AEI Trust Manager, LLC as promoters and identify Marni J. Nygard as president of the Trust's manager, with Keith Petersen and Kevin Steele also named in officer and promoter disclosures. 1
- Sponsor
- Offerings on record
What does the SEC record show?
The original Form D was amended seven times across 2023, each amendment stepping the reported amount sold upward until the final one reported the raise complete. The securities were offered privately, without general advertising, to accredited investors — those meeting SEC income or net-worth thresholds.
- Legal Trust name
- AEI NET LEASE PORTFOLIO 21 DST
- SEC CIK
- 1945289
- First Form D
- Feb 13, 2023
- Latest Form D
- Aug 10, 2023
- Filings on record
- 8
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $27,575,000 | $27,575,000+$6,329,559 | 42+8 | EDGAR | |
| Form D/A | $27,575,000 | $21,245,441+$2,893,696 | 34+7 | EDGAR | |
| Form D/A | $27,575,000 | $18,351,745+$6,008,494 | 27+9 | EDGAR | |
| Form D/A | $27,575,000 | $12,343,251+$1,220,000 | 18+3 | EDGAR | |
| Form D/A | $27,575,000 | $11,123,251+$2,830,186 | 15+4 | EDGAR | |
| Form D/A | $27,575,000 | $8,293,065+$2,685,543 | 11+4 | EDGAR | |
| Form D/A | $27,575,000 | $5,607,522+$5,304,702 | 7+5 | EDGAR | |
| Form D | $27,575,000 | $302,820 | 2 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- What happened to AEI Net Lease Portfolio 21 DST?
- AEI Net Lease Portfolio 21 DST is a Historical offering. The last Form D, filed Aug 10, 2023, reports the offering fully sold.
- What properties does this Trust actually own?
- The public record does not say. The eight Form D filings disclose no addresses, tenants, or square footage, and no sponsor property schedule was located. A third-party example page describes a five-property retail and medical-office portfolio, but that page states its examples are not available for investment, so the match to this Trust is unconfirmed. The offering documents would carry the property schedule.
- What was the minimum investment?
- The Form D filings report a minimum outside investment of $50,000. Sponsors can and do accept different amounts case by case, and the filing figure reflects only what the issuer reported to the SEC.
- Does this Trust plan a 721/UPREIT exit?
- Nothing in the record indicates one. A 721/UPREIT exit is where a DST's property is contributed to a REIT's operating partnership in exchange for OP units, converting the investor's real estate into REIT-linked interests; this Trust's record shows no such conversion path.
Sources
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These links support the record as a whole; individual details may come from different sources.
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 offering documents before investing.