Inland Zero Coupon Utility DST
Net lease (zero cash flow, utility tenant) property in Birmingham, AL — sponsored by Inland Private Capital
Zero-coupon structure: high-LTV (typ. 80-85%) assumable debt, NNN investment-grade tenant, no distributions; property not publicly identified
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These links support the public record as a whole; individual details may come from different sources.
What is this, in one paragraph?
Inland Zero Coupon Utility DST is a Delaware statutory trust — the fractional-ownership vehicle 1031 exchangers use to replace property they sold — that sponsor Inland Private Capital's own offering page describes as an executive office asset on a prime corporate campus in Birmingham, Alabama.1 It is a zero cash flow deal: rent services high-leverage assumable mortgage debt instead of paying current distributions. One Form D is on record.
Sponsor-reported, from SEC filings and cited 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 Form D names no property. Inland Private Capital's own offering page describes the Trust as an executive office asset on a prime corporate campus in Birmingham, Alabama.1 A third-party offering listing places it at The Colonnade — 3525, 3535 and 4201 Colonnade Parkway, roughly 669,438 rentable square feet across two buildings plus two parking garages — a match no deed, sponsor release or SEC exhibit confirms.2 No acquisition date or price is established for this Trust.
- Reported location
- Birmingham, AL
Who is the tenant, and what's the lease?
A listing of current DST offerings describes the campus as 100% leased to Southern Company Services under an absolute-net lease — the tenant pays taxes, insurance, maintenance and repairs directly — with roughly 18 years remaining.3 No SEC filing names the tenant or confirms any lease term.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
Zero cash flow means rent is applied to servicing high-leverage, generally assumable mortgage debt rather than reaching investors, so an owner's position builds as loan principal amortizes. Exchangers use such a Trust to replace a large mortgage carried on the property they sold. A third-party listing reports roughly $129.6 million of fixed-rate debt maturing in 2044.4
- Financing
- Zero coupon. Cash flow from the property goes to servicing the debt.
Who's behind it?
Inland Private Capital is among the higher-volume 1031 DST sponsors: AltsWire reported approximately $318.6 million of DST sales for the firm in July 2026, a 5.8% share of that month's industry total. The firm announced the close of an $83.6 million equity raise for a 393-unit New Jersey multifamily DST on April 16, 2026. Parent Inland Investments named former iCapital executive Andrew Barnum managing director of product strategy on July 20, 2026.
- Sponsor
- Inland Private Capital
- 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?
A Form D is the notice an issuer files with the SEC for a private, unregistered offering; it names Inland ZC Utility Exchange, L.L.C. as depositor and Ella S. Neyland as signatory trustee, and discloses no property, tenant or lender.7 The exemption claimed bars general advertising and limits purchasers to accredited investors — those meeting SEC income or net-worth tests.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- Inland Zero Coupon Utility DST
- 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
Is Inland Zero Coupon Utility DST still raising money?
Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.
Where does Top1031 get the data for Inland Zero Coupon Utility 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.
Which property does this Trust own?
The SEC Form D names no property or address. Inland Private Capital's own offering page describes the Trust only as an executive office asset on a prime corporate campus in Birmingham, Alabama, without giving an address, tenant, square footage or lease term.[1] A listing of current DST offerings describes a 669,438-square-foot Alabama office campus.[3] Baker 1031's listing identifies the property as The Colonnade at 3525, 3535 and 4201 Colonnade Parkway in Birmingham, roughly 669,438 rentable square feet with two parking garages.[2] No deed, sponsor release or SEC exhibit ties the named Trust to that portfolio, so the legal description in the private placement memorandum — the offering's governing disclosure document — is where it is established.
What does a zero cash flow structure mean for an investor here?
A zero cash flow DST holds a net-leased property carrying high-leverage, generally assumable mortgage debt. Rent from the tenant goes to servicing that loan rather than to investor distributions, so there is no current cash flow; an owner's position changes as loan principal amortizes and as the property's value moves. Buyers are typically 1031 exchangers who must replace a large mortgage from the property they sold in order to complete their exchange without boot. The loan documents and the PPM govern amortization, maturity, refinancing and sale.
Who is the tenant, and what does the lease say?
A listing of current DST offerings describes the campus as 100% leased to Southern Company Services on an absolute-net lease with approximately 18 years remaining.[3] Baker 1031 reports the tenant as Southern Company Services, Inc., a wholly owned subsidiary of The Southern Company, on an absolute-net lease running through March 17, 2044 with one 10-year renewal option, with the tenant bearing taxes, insurance, maintenance, repairs and replacements.[2] A 2016 leasing announcement reported that Southern Company would occupy 669,438 square feet in the Colonnade South and Colonnade North buildings, without naming any DST.[6] None of these terms appear in an SEC filing; the lease abstract in the PPM is the controlling record.
How much debt is on the property, and who is the lender?
The Form D discloses no lender and no mortgage debt. Baker 1031 reports approximately $129,587,387 of outstanding fixed-rate debt as of October 15, 2025, at a 5.784% fixed rate, maturing March 15, 2044, within total capitalization of approximately $168.9 million and against total offering equity of $39,361,999, an in-place loan-to-value it puts at roughly 76.70%.[4] That is a secondary source; research located no recorded mortgage or primary loan document naming the lender or confirming those terms. The loan summary in the PPM controls.
I saw news about Colonnade Parkway in Birmingham. Does any of it concern this Trust?
Several reports exist, and none names this Trust. On September 3, 2025 the Birmingham Business Journal reported that an affiliate of Net Lease Capital Advisors LLC bought the Colonnade Office Towers North and South at 3535 Colonnade Parkway on August 29, 2025 for $140 million.[5] On March 26, 2026 the same publication reported that a DST sponsored by Oak Brook, Illinois-based Inland Investments had acquired 3535 Colonnade Parkway for $140 million, that the property's mortgage was transferred to special servicing in March 2025 over concerns about an imminent monetary default, and that the office park entered receivership.[8] Inland has sponsored many separate DSTs and no primary record ties these events to the named Trust, so they remain leads to raise directly with the sponsor.
Is this offering still open?
One Form D is on record, filed November 3, 2025, and a single notice does not by itself establish current availability — an issuer need not amend the notice merely because sales have occurred. No amendment or later filing appears in the SEC filing history for the Trust as of September 7, 2026.[7] The sponsor or a selling broker-dealer is the only reliable source on current status.