Discount Retail Portfolio II DST
Discount retail — sponsored by Inland Private Capital
Minimum investment
$25k
Offering size
$6.5M
How much has sold
100.0%
Asset type
Discount retail
Location
Not stated
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Discount Retail Portfolio II DST was a Delaware Statutory Trust — a structure that lets 1031 exchangers own fractional real estate — organized in Delaware in 2011 and sponsored by Inland Private Capital.1 It sold interests to accredited investors under Rule 506(b), a private offering with no public advertising, and is closed to new investors. Inland Private Capital's track-record disclosure reports the property sold on September 17, 2013.2
Show sources (3)Hide sources (3)
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 does not identify what this Trust held. No address, property count, square footage, or alternate marketing name appears in the SEC filings, and no other exact non-SEC property source was located. Inland Private Capital's own later track-record disclosure describes it only as a retail-properties program, without naming the asset.2
How did it end?
Sold after 1.8 years
Matched to the completed/full-cycle Inland Private Capital track-record row Discount Retail Portfolio II DST.
A dated Top1031 full-cycle report records a property sale on 2013-09-17 and says the public record supplies no property address, size, or alternate marketing name; no other exact non-SEC property source was located.
Supporting evidence
Who's behind it?
Inland Private Capital is a sponsor of 1031 exchange real estate programs. The original Form D names Inland Private Capital Corporation as a promoter of the Trust, alongside Discount Retail Portfolio II, L.L.C. and Discount Retail Portfolio II Exchange, L.L.C.1 A private placement memorandum the sponsor issued for a later self-storage Trust on January 17, 2020 carries a track-record row for this Trust reporting a property sale on September 17, 2013 after a stated 1.92-year hold.2 No entity-specific sponsor developments bearing on this Trust were located after that date.
- Sponsor
- Inland Private Capital
- Legal Trust name
- Discount Retail Portfolio II 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 Form D record begins with a first sale on November 4, 2011 and runs through a series of amendments that stepped up the reported subscription total until the offering was fully subscribed.1 It was offered under Rule 506(b), meaning no general solicitation or advertising and sales made through existing broker-dealer relationships with accredited investors.
- 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 Discount Retail Portfolio II DST?
Top1031 lists Discount Retail Portfolio II DST as historical. It is no longer raising money.
Where does Top1031 get the data for Discount Retail Portfolio II 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 this Trust?
No. Discount Retail Portfolio II DST is closed to new investors. Its last Form D amendment was filed April 3, 2012 reporting the offering fully subscribed, and Inland Private Capital's track-record disclosure reports the property was sold on September 17, 2013.
What property did the Trust own?
The public record does not say. The Form D filings do not name a property, address, size, or tenant, and Inland Private Capital's track-record row identifies it only as a retail-properties program. A buyer's private placement memorandum (PPM) would be the only place those details appear.
What outcome was reported when it went full cycle?
Inland Private Capital's track-record disclosure, published in a January 17, 2020 private placement memorandum for a later self-storage Trust, reports a property sale on September 17, 2013 at a sales price of $11,940,439 against a stated offering price of $11,308,080, an average rate of return of 11.60%, and total return of 121.27%. Those figures are sponsor-reported, and the disclosure does not define the return calculations in detail.
Why does the sponsor's stated offering price differ from the SEC filings?
Inland Private Capital's track-record row lists an offering price of $11,308,080, which does not match the total offering amount reported on the Trust's Form D filings. The public record does not explain the difference; it could reflect debt, reserves, or a different measurement basis. The PPM and closing documents would settle it.
What does Rule 506(b) mean here?
Rule 506(b) is the private placement exemption that lets an issuer sell securities without registering them, provided it does not advertise publicly and generally sells only to accredited investors — people meeting SEC income or net worth thresholds. Interests in this Trust were offered that way, through broker-dealer relationships rather than public marketing.
Could this Trust have converted into a REIT interest?
No 721/UPREIT exit — a swap of property for operating partnership units in a REIT — is recorded for this Trust. The reported outcome was a direct property sale on September 17, 2013 per Inland Private Capital's track-record disclosure.
Chapter 7Discount Retail Portfolio II DST Reached Full Cycle With a Property Sale on September 17, 2013, 1.8 Years After Its First Form DTop1031 reports that Discount Retail Portfolio II DST reached full cycle through a property sale on 2013-09-17 but does not identify the property address or size.