Top1031

Lubbock Private Placement DST

Net lease retail property in Lubbock, TX · sponsored by Inland Private Capital

HistoricalLast Form D filed Jan 6, 2011 (opens in a new tab)

Lubbock Private Placement DST was a DST sponsored by Inland Private Capital that owned a net lease retail property in Lubbock, TX. Its last Form D was filed Jan 6, 2011.

How it ended

Sold, result reported by the sponsor

Last Form D filed Jan 6, 2011.

Inland Private Capital has 8 active offerings on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$9,078,556
Equity offered, per the Form D
Sold
95.3%
Form D, Jan 6, 2011; the % is our arithmetic
Investors reported
58
Form D, Jan 6, 2011
Selling commissions
$635,499 · 7.0% of offering
Form D Item 15; the % is our arithmetic
Financing
All cash. This offering reports no mortgage debt.
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: Lubbock Private Placement DST. Top1031 is not a broker-dealer.

What did Lubbock Private Placement DST own?

The Trust's single asset is a freestanding retail building at 4006 W. Loop 289 in Lubbock, Texas, completed in 2007. 2 Inland Real Estate Exchange Corporation, the predecessor of today's Inland Private Capital, placed it into a Delaware statutory trust and began selling fractional interests to exchange investors in June 2010. 1 The sponsor's offering summary reported the building fully occupied by its single tenant. 2

Reported location
Lubbock, TX
Property size
approximately 51,519 sq ft on a 5.055-acre site

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 sponsor's offering summary described the Trust as taking 100% equity ownership, with no mortgage encumbering the property. 2 An all-cash structure means no lender, no loan maturity to refinance, and no debt service ahead of investors — and no borrowing to enlarge the equity either.

Debt

Financing
All cash. This offering reports no mortgage debt.

Costs and terms from the Form D

Selling commissions
$635,499 · 7.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$666,975 · 7.3% of offering
Form D Item 16
Broker-dealers named in the Form D
14 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
May 25, 2010
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.

What does the SEC record show?

The Trust filed one original Form D — the brief SEC notice an issuer files for an exempt private offering — then a run of amendments over the following seven months, each restating how much had been sold. Interests were offered privately to accredited investors rather than advertised, and no filings have been added since.

Legal Trust name
Lubbock Private Placement DST
SEC CIK
1493406
First Form D
Jun 4, 2010
Latest Form D
Jan 6, 2011
Filings on record
9
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$9,078,556
$8,651,989+$303,667
58+6
EDGAR
Form D/A$9,078,556
$8,348,322+$960,000
52+5
EDGAR
Form D/A$9,078,556
$7,388,322+$1,153,918
47+9
EDGAR
Form D/A$9,078,556
$6,234,404+$570,614
38+7
EDGAR
Form D/A$9,078,556
$5,663,790+$1,305,506
31+12
EDGAR
Form D/A$9,078,556
$4,358,284+$690,608
19+8
EDGAR
Form D/A$9,078,556
$3,667,676+$1,363,588
11+5
EDGAR
Form D/A$9,078,556
$2,304,088+$720,481
6+4
EDGAR
Form D$9,078,556
$1,583,607
2
EDGAR
Show all 9 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 Lubbock Private Placement DST?
Lubbock Private Placement DST is a Historical offering. Last Form D filed Jan 6, 2011.
Was this Trust leveraged?
No. Inland Securities Corporation's offering summary for the Trust described 100% equity ownership with no mortgage encumbering the property. That means investors' returns were not amplified by borrowing, and there was no loan maturity or lender consent to manage — but it also means the Trust could not use debt to boost the acquisition.
What does a DST offering under Rule 506(b) mean in practice?
A Delaware statutory trust holds the real estate and issues beneficial interests that the IRS treats as like-kind replacement property for a 1031 exchange. Rule 506(b) is the SEC exemption that lets an issuer sell those interests privately to accredited investors — people meeting income or net-worth tests — without general advertising or public solicitation.

In the news

Sources

Show sources (6)Hide sources (6)

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.