Lubbock Private Placement DST
Net lease retail in Lubbock, TX — sponsored by Inland Private Capital
Minimum investment
$25k
Offering size
$9.1M
How much has sold
95.0%
Asset type
Net lease retail
Location
Lubbock, TX
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Lubbock Private Placement DST is a closed 1031 exchange offering sponsored by Inland Private Capital. It held one single-tenant retail building at 4006 W. Loop 289 in Lubbock, Texas, leased to outdoor retailer Gander Mountain.2 Structured as a Delaware statutory trust — fractional real estate that can serve as like-kind replacement property — it raised equity in 2010 with no mortgage on the property.2
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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 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
Who is the tenant, and what's the lease?
Gander Mountain, the outdoor-goods retailer, occupied the building under a lease that ran from September 18, 2007 to September 30, 2022, with four consecutive five-year renewal options held by the tenant.2 Gander Mountain became a debtor in a Minnesota bankruptcy case in 2017, mid-lease.3 Public records do not show what followed for this lease.
How did it end?
Sold after 3.5 years; sponsor reported 137% total return
Listed as a completed/full-cycle program on Inland Private Capital's published track record.
Single-tenant Gander Mountain retail box built in 2007, approximately 51,519 sq ft on a 5.055-acre site, leased to Gander Mountain through September 2022 with rent escalations every five years. Offering size $9,078,556; min/max equal $9,078,556; sponsored by Inland Real Estate Exchange Corporation (predecessor to Inland Private Capital Corporation).
approximately 51,519 sq ft on a 5.055-acre site137.0%Total return · as reported by the sponsor
10.8%Annualized return · as reported by the sponsor
$9,800,000Sale price · as reported by the sponsor
Supporting evidence
How is it financed, and what does it pay?
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.
Who's behind it?
Inland Private Capital sponsored this Trust under its earlier name, Inland Real Estate Exchange Corporation, which the original Form D identifies as a promoter of the issuer.1 Inland Securities Corporation acted as dealer/manager, the broker-dealer responsible for distributing the offering through selling firms.2 The firm's 1031 exchange platform is long-established and still files new Delaware statutory trust offerings today.
- Sponsor
- Inland Private Capital
- Legal Trust name
- Lubbock Private Placement 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 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.
- 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
- 9
- 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 Lubbock Private Placement DST?
Top1031 lists Lubbock Private Placement DST as historical. It is no longer raising money.
Where does Top1031 get the data for Lubbock Private Placement 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. This Trust is closed to new investors. Its last Form D amendment was filed on January 6, 2011, and no filings have appeared on its SEC record since. Any interest today would have to come through a private secondary transfer, which the trust agreement and the sponsor may restrict or prohibit.
What happened to Gander Mountain, the tenant?
Gander Mountain was named as the debtor in bankruptcy case no. 17-30673 before the U.S. Bankruptcy Court for the District of Minnesota, in a creditor notice dated June 22, 2017. That court record does not establish a default under this specific lease or any action by the Trust. The lease term as described in the sponsor's offering summary ran to September 30, 2022.
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.
Has the property been sold?
No sale or disposition has been reported in the sources reviewed. A June 2026 listing on a commercial marketplace shows the same street address offered for sale, but a listing does not prove a completed sale, current ownership, or that the Trust is the seller. Ask the sponsor directly for the Trust's current status.
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.
Chapter 9Lubbock Private Placement DST Executive SummaryExecutive summary PDF describing the Gander Mountain retail property at 4006 W. Loop 289 in Lubbock, TX, a 51,519 sq ft single-tenant retail box built in 2007 with a 25-year initial lease term.