Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
InCommercial Net Lease DST 5 is a Delaware statutory trust — a passive co-ownership vehicle whose interests can be used in a 1031 exchange — organized in Delaware in 2021 and sponsored by InCommercial.1 It filed one Form D in May 2022 and nothing afterward, and is closed to new investors. No public source reviewed names the property the Trust was formed to hold.
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These links support the historical public record; individual details may come from different 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?
No reviewed public source names the property behind this Trust. The Form D discloses the issuer, the amount being offered and the terms of sale, and says nothing about an address, a building type or a square footage.1 InCommercial's own site carries no page for DST 5, and the sponsor-directory entry found for it reads only "InCommercial Net Lease DST 5 — former."
How did it end?
No sale or other ending on record
InCommercial Net Lease DST 5 is still operating with no public full-cycle, sale, 721 exchange, or foreclosure announcement; the JRW Investments sponsor tracker lists it as 'Active' in its Closed-offerings table with a reported 5.60% annual cash flow, and the Top1031 sponsor profile shows InCommercial has '0 Programs Documented lifecycle outcomes' [jrw.com][altswire.com][top1031.com].
AltsWire's sponsor directory gives only the entry “InCommercial Net Lease DST 5 — former”; the official sponsor pages provide no DST5-specific property name, address, size, asset type, status, dated news, or exact-property image.
Who's behind it?
InCommercial is a net lease sponsor that packages single-tenant commercial real estate into Delaware statutory trusts for 1031 exchange investors.1 The name appears on the Form D as the trust's sponsor, and the firm continues to bring net lease trusts to market. Beyond that, no reviewed source published dated news, a property page, or an outcome report specific to DST 5.
- Sponsor
- InCommercial
- Legal Trust name
- InCommercial Net Lease DST 5
- May convert to a REIT
- No
- Offerings from this sponsor
- 1 active / 3 total offerings from InCommercial
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
Nothing was amended after the initial filing, so this Trust's federal record stops where it started. Interests were offered privately rather than by general advertising, to accredited investors — those clearing SEC income or net-worth thresholds — with whom the sponsor had an existing relationship. The filing disclosed $2,896,835 in sales commissions.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- 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.
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
What happened to InCommercial Net Lease DST 5?
Top1031 lists InCommercial Net Lease DST 5 as historical. It is no longer raising money.
Where does Top1031 get the data for InCommercial Net Lease DST 5?
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.
What property does InCommercial Net Lease DST 5 own?
The public record does not say. The Trust's only SEC filing is a Form D, which identifies the issuer and the offering terms but never names a property, address, tenant, lease structure or lender. InCommercial's own website and the sponsor directories reviewed carry no DST 5 property page either. Anyone evaluating this Trust would need the private placement memorandum (PPM) — the sponsor's full offering document — from the sponsor or a placement agent.
Can I still invest in this Trust?
No. It is closed to new investors. The Trust filed a single Form D on May 13, 2022 and has made no filing since, and the sponsor directory entry found for it is marked "former." Investors with an open 45-day identification window would need to look at trusts currently raising.
What does it mean that this was offered under Rule 506(b)?
Rule 506(b) is the private-placement exemption that lets an issuer sell securities without registering them, provided it does not advertise the offering publicly and generally sells only to accredited investors it already has a relationship with. In practice that means DST 5 was never marketed to the public, which is one reason so little about it appears outside the SEC filing.
Why does the SEC record show so little activity?
Issuers file a Form D at or around the start of an offering and are only required to amend it in limited circumstances, such as an annual update while the offering remains open. This Trust filed once, on May 13, 2022, and filed nothing after that, so the federal record never captured any later stage of its life — including any acquisition, refinancing, sale or 721/UPREIT exit, in which DST interests are exchanged for operating-partnership units in a REIT.
Has any outcome been reported for this Trust?
No outcome has been reported in the sources reviewed. There is no primary record of a property sale, a refinancing, a 721 exchange, a foreclosure or any other material event tied to InCommercial Net Lease DST 5.