Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
CW Pharmacy I DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold fractional interests in real estate as replacement property — sponsored by Inland Private Capital.1 It raised equity from accredited investors in 2012 under Rule 506(b), the private-placement rule that bars general advertising, and has been closed to new investors since that autumn. The filings never name the property or tenant.
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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?
The public record doesn't say what the building is. A Form D captures an offering's terms, not its real estate, and this Trust's filings carry no address, no square footage, and no property name. The final amendment classifies the securities only as beneficial interests in a Delaware statutory trust reflecting beneficial interests in real estate.1 Top1031 has not matched the Trust to a specific asset.
Who is the tenant, and what's the lease?
No tenant is named anywhere in the Trust's public filings, and no lease terms — structure, rent, remaining term, or renewal options — appear in the record. Those details would sit in the PPM, the private placement memorandum delivered to prospective investors.
How did it end?
Sold after 6.9 years; sponsor reported 1.60x
Listed as a completed/full-cycle program on Inland Private Capital's published track record.
How is it financed, and what does it pay?
The filings don't disclose whether the Trust acquired its property all-cash or with mortgage debt, and no lender is named. Form D doesn't ask; a DST's loan terms live in the PPM and the trust agreement rather than in the SEC record.
Who's behind it?
Inland Private Capital is the sponsor behind this Trust, and its filing history on EDGAR runs from this 2012 offering through programs still raising today. The Trust's Form D lists Inland Private Capital Corporation as a related person and promoter of the offering.1 Keith Lampi signed as signatory trustee of the Trust, identified there as Senior Vice President of Inland Private Capital Corporation and a member of CW Pharmacy I Exchange, L.L.C.1
- Sponsor
- Inland Private Capital
- Legal Trust name
- CW Pharmacy I DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 79 total offerings from Inland Private Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The initial Form D reported a date of first sale of May 14, 2012.2 A run of amendments followed through that summer and autumn, each restating how much of the offering had been placed, and the filing record has been quiet since.
- 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
- 8
- 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 CW Pharmacy I DST?
Top1031 lists CW Pharmacy I DST as historical. It is no longer raising money.
Where does Top1031 get the data for CW Pharmacy I 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.
Can I still invest in CW Pharmacy I DST?
No. This is a Historical Trust — closed to new investors. Its offering was raised in 2012 and the last Form D amendment on the SEC record was filed October 30, 2012. Nothing here is an offer; the record exists so exchangers can study how a completed Inland Private Capital program was structured and filed.
What property did this Trust own?
The public record doesn't say. None of the SEC filings for CW Pharmacy I DST name a property, address, tenant, or square footage, and no primary source reviewed identifies the asset. The trust name suggests a pharmacy-related retail property, but Top1031 has not confirmed that against a primary record. Similarly named Inland trusts, including CW Pharmacy II DST, are separate offerings.
Did the Trust go full cycle, and what was the outcome?
Baker 1031's Inland sponsor profile lists CW Pharmacy I DST as a completed full-cycle retail program and reports sponsor-stated results of a 6.92-year hold, a 1.60x equity multiple, and a 6.21% average annualized return. Those figures are sponsor-reported and secondary; no primary disposition record naming this Trust was located to corroborate them.
What does Rule 506(b) mean for who could buy in?
Rule 506(b) is the private-placement exemption that lets an issuer raise unlimited capital without registering with the SEC, provided it does not advertise or generally solicit. Interests reach investors through existing relationships with the sponsor and its selling broker-dealers, and buyers are effectively limited to accredited investors — people meeting SEC income or net-worth thresholds.
Why is there so little public information on this Trust?
A Form D is a short notice filing. It reports the issuer, the exemption claimed, the offering size, the minimum investment, and how much has been sold — not the property, the tenant, the lease, or the loan. Everything descriptive lived in the PPM, which was delivered privately to prospective investors and never filed with the SEC.
Who is Inland Private Capital?
Inland Private Capital is the sponsor of record for this Trust and is named in its Form D as a related person and promoter of the offering. It has been filing 1031 exchange programs with the SEC since at least 2012 and continues to sponsor offerings today. Keith Lampi, then a Senior Vice President of the firm, signed this Trust's Form D as signatory trustee.