CW Pharmacy II DST
Net-leased pharmacy retail property in McAllen, TX · sponsored by Inland Private Capital
CW Pharmacy II DST was a DST sponsored by Inland Private Capital that owned 3 net-leased pharmacy retail properties in McAllen, TX. Its last Form D, filed Jan 2, 2013, reports the offering fully sold.
How it ended
The last Form D, filed Jan 2, 2013, reports the offering fully sold.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $9,965,666Equity offered, per the Form D
- Sold
- 100%Form D, Jan 2, 2013; the % is our arithmetic
- Investors reported
- Form D, Jan 2, 201336
- Selling commissions
- Form D Item 15; the % is our arithmetic$700,704 · 7.0% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.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 →
Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.
Ask a 1031 specialist about this recordFree. About: CW Pharmacy II DST. Top1031 is not a broker-dealer.What did CW Pharmacy II DST own?
The Trust held three one-story, freestanding drugstores: a CVS at 5600 N. 23rd Street in McAllen, Texas, and a CVS at 13000 Warwick Boulevard in Newport News, Virginia, both built in 2009, plus a Walgreens at 327 Main Street in Dunkirk, New York, built in 2008. 1 Each was fully leased and occupied when the June 29, 2012 memorandum was issued. 1
- Reported location
- McAllen, TX
- Property size
- 3 properties; 13,204 sq ft (McAllen), 13,259 sq ft (Newport News), and 13,611 sq ft (Dunkirk)
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 Trust was leveraged: a first-mortgage, interest-only loan from Ladder Capital Finance I LLC, non-recourse subject to specified carve-outs to the Trust and Inland Private Capital Corporation, with an original balance of $9,395,000 and a stated maturity of April 6, 2037. 1 Interest-only means no principal was scheduled to amortize during the term.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $700,704 · 7.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,023,094 · 10.2% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 18 named in the Form D
Show the firms
- 1st Global Capital Corp. · CRD 30349
- Centaurus Financial, Inc. · CRD 30833
- Cetera Advisors LLC · CRD 10299
- Commonwealth Financial Network · CRD 8032
- Concorde Investment Services, LLC · CRD 151604
- Concourse Financial Group Securities, Inc. · CRD 15708
- DFPG Investments, LLC · CRD 155576
- Inland Securities Corporation · CRD 15807
- Investacorp, Inc. · CRD 7684
- Investors Capital Corp. · CRD 30613
- JRL Capital Corporation · CRD 10225
- McDermott Investment Services, LLC · CRD 154926
- Newport Coast Securities, Inc. · CRD 16944
- Osaic FA, Inc. · CRD 3978
- Sandlapper Securities, LLC · CRD 137906
- Sigma Financial Corporation · CRD 14303
- Triad Advisors LLC · CRD 25803
- VSR Financial Services, Inc. · CRD 14503
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jul 26, 2012
- Minimum investment
- $25,000
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 CW Pharmacy II DST?
Inland Private Capital Corporation is named as the Sponsor in the Trust's June 29, 2012 offering documents. 1 The issuer's Form D lists its principal place of business as 2901 Butterfield Road, Oak Brook, Illinois, alongside affiliated promoters CW Pharmacy II, L.L.C. and CW Pharmacy II Exchange, L.L.C. 2 The cited sources do not establish a completed sale of this exact Trust’s properties.
- Sponsor
- Offerings on record
What does the SEC record show?
The initial Form D — the brief SEC notice of an exempt private offering — was followed by a series of amendments tracking subscriptions as they came in, with the final amendment trimming the stated offering size down to the amount actually sold. Interests were sold privately to accredited investors, those meeting SEC income or net-worth tests, without general advertising.
- Legal Trust name
- CW Pharmacy II DST
- SEC CIK
- 1555550
- First Form D
- Aug 9, 2012
- Latest Form D
- Jan 2, 2013
- 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 | $9,965,666was $10,010,063 | $9,965,666+$1,128,990 | 36+4 | EDGAR | |
| Form D/A | $10,010,063 | $8,836,676+$1,349,517 | 32+5 | EDGAR | |
| Form D/A | $10,010,063 | $7,487,159+$1,135,000 | 27+3 | EDGAR | |
| Form D/A | $10,010,063 | $6,352,159+$946,585 | 24+5 | EDGAR | |
| Form D/A | $10,010,063 | $5,405,574+$1,987,418 | 19+9 | EDGAR | |
| Form D/A | $10,010,063 | $3,418,156+$2,731,803 | 10+6 | EDGAR | |
| Form D/A | $10,010,063 | $686,353+$536,303 | 4+2 | EDGAR | |
| Form D | $10,010,063 | $150,050 | 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 CW Pharmacy II DST?
- CW Pharmacy II DST is a Historical offering. The last Form D, filed Jan 2, 2013, reports the offering fully sold.
- Did the Trust go full cycle?
- A completed disposition of this exact Trust is not established by the cited sources. The SEC filing identifies the issuer and its affiliates but does not document a property sale.
- Who were the tenants?
- CVS Pharmacy, Inc. at McAllen, Texas and Virginia CVS Pharmacy, L.L.C. at Newport News, Virginia, both with lease terms stated through January 31, 2035 and guaranteed by CVS Caremark Corporation; and Walgreen Eastern Co., Inc. at Dunkirk, New York, guaranteed by Walgreen Co., with a long term to 2083 and a tenant termination option in 2033.
- Was the Trust mortgaged?
- Yes. The June 29, 2012 memorandum describes a first-mortgage, interest-only loan from Ladder Capital Finance I LLC of $9,395,000, non-recourse subject to specified carve-outs, with a maturity date of April 6, 2037. A buyer of a secondary interest would need to confirm whether a disposition occurred and, if so, how that loan was handled.
- What was the minimum investment?
- The memorandum states minimum purchases of $100,000 for a Section 1031 exchange investment and $25,000 for a cash investment. Sponsors and selling broker-dealers sometimes applied higher minimums, so the offering documents and subscription documents govern.
- How was this offering sold?
- Under Rule 506(b), the private-placement exemption that allows sales to accredited investors but bars general solicitation or advertising. That is why the record consists of Form D notices rather than a prospectus, and why the memorandum was circulated only to pre-existing relationships.
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.