Minimum investment
$25k
Offering size
$275.9M
How much has sold
100.0%
Asset type
Industrial
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?
IPC Industrial Portfolio DST is a Delaware statutory trust — a structure that lets accredited investors hold fractional real estate that can qualify for a 1031 exchange — organized in 2022 and sponsored by Inland Private Capital.1 It was assembled around industrial property, and the offering is fully subscribed and closed to new investors. The reviewed public record does not name the underlying buildings.
Show sources (6)Hide sources (6)
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 Trust's name and its classification as an industrial offering are the clearest signals of what it holds. Beyond that, the reviewed public record — SEC filings, sponsor pages, and independent coverage — does not identify the properties, their addresses, their size, or when they were acquired. Form D discloses securities terms, not real estate, so those details sit in the private placement memorandum, the offering's full disclosure document.
How did it end?
No ending on record
A law-firm investigation page reports investor losses, but no independently verifiable foreclosure, receivership, or terminal disposition source was located. The outcome remains unknown.
Public pages identify the industrial offering and an approximately $275.8 million raise, but the reviewed sources did not identify underlying property addresses or physical property size; the offering amount is not treated as property size.
Supporting evidence
Who's behind it?
Inland Private Capital, whose principal office is in Oak Brook, Illinois, sponsors the Trust and is named in its Form D as an executive officer of the issuer.1 Keith D. Lampi is listed there as president of the sole member of the parent signatory trustee.1 On May 23, 2025, The White Law Group said it was investigating potential claims involving the Trust and the financial professionals who recommended it; that page does not establish wrongdoing, investor losses, or any disposition.3
- Sponsor
- Inland Private Capital
- Legal Trust name
- IPC Industrial Portfolio 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?
Inland Private Capital filed an original Form D and then amended it three times, each amendment reporting further sales progress until the offering was fully subscribed. The Trust reported its first sale on June 29, 2022.2 It was offered under Rule 506(b), the private-placement exemption that bars general advertising and reaches investors through existing relationships.2
- 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
- 4
- 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 IPC Industrial Portfolio DST?
Top1031 lists IPC Industrial Portfolio DST as historical. It is no longer raising money.
Where does Top1031 get the data for IPC Industrial Portfolio 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 IPC Industrial Portfolio DST?
No. The offering is fully subscribed and closed to new investors. Its most recent Form D amendment was filed June 21, 2024, and reported no amount remaining to be sold. Investors mid-exchange would need to look at offerings currently raising.
What properties does this Trust actually own?
The reviewed public record does not say. No SEC filing, sponsor page, or independent source located in research identified the specific industrial buildings, their locations, size, tenants, or purchase dates. Form D filings cover securities terms only. The private placement memorandum and the sponsor's asset-level reporting are where those facts live.
What does Rule 506(b) mean for how this was sold?
Rule 506(b) is a private-placement exemption. The sponsor could not advertise the offering publicly or solicit strangers; interests were placed through broker-dealers and advisers with pre-existing relationships to accredited investors — people meeting SEC income or net-worth thresholds.
What is the White Law Group investigation about?
On May 23, 2025, the securities law firm The White Law Group published a notice saying it was investigating potential claims involving IPC Industrial Portfolio DST and the financial professionals who recommended it. A law firm investigation notice is a solicitation for potential clients, not a finding. The page does not establish wrongdoing, investor losses, foreclosure, receivership, or a sale of the assets.
Is there a 721/UPREIT exit for this Trust?
None is recorded in the data here. A 721 or UPREIT exit is a structure where a DST's property is later contributed to a REIT's operating partnership in exchange for units, deferring tax again. Nothing in the reviewed filings indicates that path for this Trust.
What happened to the Trust after the raise closed?
No outcome is reported yet. EDGAR's latest listed filing for the Trust is the June 21, 2024 Form D amendment, and research located no verified sale, refinancing, foreclosure, or other terminal event for this specific entity.
Chapter 7IPC Industrial Portfolio DST Lawsuit InvestigationThe White Law Group identified IPC Industrial Portfolio DST as an Inland Private Capital-sponsored offering and reported that it raised approximately $275.8 million.