Diversified Residential Portfolio III DST
Multifamily property · sponsored by Inland Private Capital
Diversified Residential Portfolio III DST was a DST sponsored by Inland Private Capital that owned a multifamily property. Its last Form D, filed Jan 3, 2024, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Jan 3, 2024, reports the offering fully sold.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $209,327,056Equity offered, per the Form D
- Sold
- 100%Form D, Jan 3, 2024; the % is our arithmetic
- Investors reported
- Form D, Jan 3, 2024387
- Selling commissions
- Form D Item 15; the % is our arithmetic$18,630,107 · 8.8% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
- 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: Diversified Residential Portfolio III DST. Top1031 is not a broker-dealer.What did the Trust own?
The Trust's SEC filings describe a residential offering but name no properties, addresses, or unit counts, and the trade coverage of the raise stayed at the fund level as well. 2 As of research conducted August 24, 2026, no located public record identifies the specific apartment communities the Trust holds or where they sit. What the record does establish is the asset class: multifamily.
How was it financed, and what did it cost to sell?
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $18,630,107 · 8.8% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $8,716,297 · 4.1% of offeringForm D Item 16· The filing’s note: “Item 16 is an estimate of acquisition fees, reimbursements for certain acquisition and financing costs, and offering and organizational expenses that may accrue to one or more Related Persons.”
- Broker-dealers named in the Form D
- 53 named in the Form D
Show the firms
- APW Capital, Inc. · CRD 43814
- Aegis Capital Corporation · CRD 15007
- American Investors Company · CRD 38
- American Portfolios Financial Services, Inc. · CRD 18487
- American Trust Investment Services, Inc. · CRD 3001
- Ameritas Investment Company, LLC · CRD 14869
- Arkadios Capital · CRD 282710
- Avantax Investment Services, Inc. · CRD 13686
- BD4RIA INC · CRD 290240
- Cabot Lodge Securities LLC · CRD 159712
- Calton & Associates, Inc. · CRD 20999
- Cambridge Investment Research, Inc. · CRD 39543
- Centaurus Financial, Inc. · CRD 30833
- Cetera Advisors LLC · CRD 10299
- Cetera Financial Specialists LLC · CRD 10358
- Cetera Investment Services LLC · CRD 15340
- Cetera Wealth Services, LLC · CRD 13572
- Commonwealth Financial Network · CRD 8032
- Concorde Investment Services, LLC · CRD 151604
- Crown Capital Securities, L.P. · CRD 6312
- DAI Securities, LLC · CRD 36673
- DFPG Investments, LLC · CRD 155576
- Emerson Equity LLC · CRD 130032
- FSC Securities Corporation · CRD 7461
- First Allied Securities, Inc. · CRD 32444
- Great Point Capital LLC · CRD 114203
- Harbour Investments, Inc · CRD 19258
- Herald & Lantern Investments, Inc. · CRD 30996
- Hilltop Securities Inc. · CRD 6220
- Independent Financial Group, LLC · CRD 7717
- International Assets Advisory, LLC · CRD 10645
- J.W. Cole Financial, Inc. · CRD 124583
- LPL Financial LLC · CRD 6413
- LifeMark Securities Corp. · CRD 16204
- McDermott Investment Services, LLC · CRD 154926
- Muriel Siebert & Co., LLC · CRD 5376
- Osaic FA, Inc. · CRD 3978
- Osaic FS, Inc. · CRD 3870
- Osaic Institutions, Inc. · CRD 35371
- Osaic Wealth, Inc. · CRD 23131
- Peak Brokerage Services, LLC · CRD 157045
- Purshe Kaplan Sterling Investments · CRD 35747
- Realized Financial, Inc. · CRD 22333
- Realta Equities, Inc. · CRD 23769
- Sagepoint Financial, Inc. · CRD 133763
- Securities America, Inc. · CRD 10205
- Stifel Nicolaus & Company, Incorporated · CRD 793
- Stonecrest Capital Markets, Inc. · CRD 39616
- Triad Advisors LLC · CRD 25803
- Whitehall-Parker Securities, Inc. · CRD 10608
- Wintrust Investments LLC · CRD 875
- Woodbury Financial Services, Inc. · CRD 421
- XML Securities · CRD 145589
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jul 6, 2022
- 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 the Trust?
Inland Private Capital Corporation is named as the sponsor of this offering in the Trust's Form D filings. 1 It is among the more prolific sponsors of 1031 exchange programs, and this Trust is the third numbered entry in its Diversified Residential Portfolio series. Institutional Real Estate, Inc. reported on May 30, 2023 that the Trust had raised $167 million from 286 investors, describing it as a vehicle for exchange investors deferring gains on appreciated real estate. 2
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust filed Form D amendments on a roughly biweekly cadence, each one restating the amount sold as the raise progressed; the first sale of interests is reported as July 6, 2022. 3 Rule 506(b) means the Offering was sold without general advertising, through pre-existing relationships with accredited investors.
- Legal Trust name
- Diversified Residential Portfolio III DST
- SEC CIK
- 1936794
- First Form D
- Jul 8, 2022
- Latest Form D
- Jan 3, 2024
- Filings on record
- 37
- 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 | $209,327,056 | $209,327,056+$1,200,763 | 387+3 | EDGAR | |
| Form D/A | $209,327,056 | $208,126,293+$856,570 | 384+4 | EDGAR | |
| Form D/A | $209,327,056 | $207,269,723+$2,461,759 | 380+8 | EDGAR | |
| Form D/A | $209,327,056 | $204,807,964+$7,666,086 | 372+15 | EDGAR | |
| Form D/A | $209,327,056 | $197,141,878+$6,005,313 | 357+10 | EDGAR | |
| Form D/A | $209,327,056 | $191,136,565+$3,152,003 | 347+9 | EDGAR | |
| Form D/A | $209,327,056 | $187,984,562+$1,987,822 | 338+7 | EDGAR | |
| Form D/A | $209,327,056 | $185,996,740+$1,553,076 | 331+5 | EDGAR | |
| Form D/A | $209,327,056 | $184,443,664+$322,325 | 326+3 | EDGAR | |
| Form D/A | $209,327,056 | $184,121,339+$4,128,965 | 323+6 | EDGAR | |
| Form D/A | $209,327,056 | $179,992,374+$3,440,356 | 317+7 | EDGAR | |
| Form D/A | $209,327,056 | $176,552,018+$2,951,992 | 310+7 | EDGAR | |
| Form D/A | $209,327,056 | $173,600,026+$3,672,594 | 303+10 | EDGAR | |
| Form D/A | $209,327,056 | $169,927,432+$2,919,421 | 293+7 | EDGAR | |
| Form D/A | $209,327,056 | $167,008,011+$4,662,578 | 286+13 | EDGAR | |
| Form D/A | $209,327,056 | $162,345,433+$2,666,342 | 273+6 | EDGAR | |
| Form D/A | $209,327,056 | $159,679,091+$783,299 | 267+4 | EDGAR | |
| Form D/A | $209,327,056 | $158,895,792+$3,009,922 | 263+5 | EDGAR | |
| Form D/A | $209,327,056 | $155,885,870+$2,190,561 | 258+6 | EDGAR | |
| Form D/A | $209,327,056 | $153,695,309+$4,154,302 | 252+7 | EDGAR | |
| Form D/A | $209,327,056 | $149,541,007+$5,857,273 | 245+11 | EDGAR | |
| Form D/A | $209,327,056 | $143,683,734+$4,544,981 | 234+7 | EDGAR | |
| Form D/A | $209,327,056 | $139,138,753+$3,301,481 | 227+5 | EDGAR | |
| Form D/A | $209,327,056 | $135,837,272+$5,174,673 | 222+9 | EDGAR | |
| Form D/A | $209,327,056 | $130,662,599+$4,319,773 | 213+11 | EDGAR | |
| Form D/A | $209,327,056 | $126,342,826+$9,904,306 | 202+17 | EDGAR | |
| Form D/A | $209,327,056 | $116,438,520+$5,919,760 | 185+15 | EDGAR | |
| Form D/A | $209,327,056 | $110,518,760+$12,149,754 | 170+20 | EDGAR | |
| Form D/A | $209,327,056 | $98,369,006+$10,699,903 | 150+20 | EDGAR | |
| Form D/A | $209,327,056 | $87,669,103+$12,403,117 | 130+18 | EDGAR | |
| Form D/A | $209,327,056 | $75,265,986+$17,183,814 | 112+20 | EDGAR | |
| Form D/A | $209,327,056 | $58,082,172+$8,554,087 | 92+16 | EDGAR | |
| Form D/A | $209,327,056 | $49,528,085+$17,275,863 | 76+33 | EDGAR | |
| Form D/A | $209,327,056 | $32,252,222+$18,785,806 | 43+30 | EDGAR | |
| Form D/A | $209,327,056 | $13,466,416+$12,760,871 | 13+10 | EDGAR | |
| Form D/A | $209,327,056 | $705,545+$505,545 | 3+2 | EDGAR | |
| Form D | $209,327,056 | $200,000 | 1 | EDGAR |
Show all 37 SEC Form D filings
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 Diversified Residential Portfolio III DST?
- Diversified Residential Portfolio III DST is a Historical offering. The last Form D, filed Jan 3, 2024, reports the offering fully sold.
- What properties does this Trust actually own?
- The public record does not say. The Form D filings identify the offering as residential/multifamily but list no property names, street addresses, or unit counts, and the May 30, 2023 Institutional Real Estate, Inc. report on the raise did not name properties either. Investors in the Trust would find the portfolio described in the offering documents, which are not public filings.
- Is there a 721/UPREIT exit on this Trust?
- The record does not indicate one. A 721 or UPREIT exit is where a DST's property is contributed to a REIT's operating partnership in exchange for OP units, converting a direct real estate interest into a REIT-linked one. Nothing in this Trust's filings shows that path, and no sale, refinancing, or other disposition event has been reported in any located public record as of August 24, 2026.
- How long did the Offering take to fill?
- The Trust's first Form D was filed July 8, 2022, and the last amendment in the series was filed January 3, 2024 — roughly eighteen months of amendments across 37 total filings. Institutional Real Estate, Inc. reported the interim milestone: $167 million raised from 286 investors as of May 30, 2023.
- Who is Inland Private Capital?
- Inland Private Capital Corporation is the sponsor named in this Trust's Form D filings and one of the longer-running sponsors of 1031 exchange programs. Top1031 tracks 71 offerings from the firm, 8 of them currently raising. Sponsor scale is not a measure of any individual program's performance.
In the news
Sources
Show sources (4)Hide sources (4)
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.