Top1031

National Retail Portfolio Venture DST

Retail property · sponsored by Inland Private Capital

HistoricalLast Form D, filed Aug 15, 2011, reports the offering fully sold (opens in a new tab)

National Retail Portfolio Venture DST was a DST sponsored by Inland Private Capital that owned a retail property. Its last Form D, filed Aug 15, 2011, reports the offering fully sold.

How it ended

No public outcome found

The last Form D, filed Aug 15, 2011, reports the offering fully sold.

Inland Private Capital has 8 active offerings on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$20,960,000
Equity offered, per the Form D
Sold
100%
Form D, Aug 15, 2011; the % is our arithmetic
Investors reported
59
Form D, Aug 15, 2011
Selling commissions
$1,467,200 · 7.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Sources disagree
The financing classification on record says leveraged (mortgage debt); the profile says “with no mortgage”. 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: National Retail Portfolio Venture DST. Top1031 is not a broker-dealer.

What did the Trust own?

The Trust is recorded as a retail program, and its Form D described the security as beneficial interests in a Delaware statutory trust reflecting beneficial interests in real estate. 2 The portfolio behind the name remains unresolved in the public record.

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 Trust was capitalized with investor equity alone: no mortgage, no lender, no loan maturity to refinance — and no borrowed money amplifying either gains or losses. The SEC filings disclose no property-level debt.

Debt

Financing
Sources disagree The financing classification on record says leveraged (mortgage debt); the profile says “with no mortgage”.

Costs and terms from the Form D

Selling commissions
$1,467,200 · 7.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$2,224,448 · 10.6% of offering
Form D Item 16
Broker-dealers named in the Form D
24 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jan 20, 2011
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 initial Form D was followed by a run of amendments that each stepped the reported sales tally upward, the last showing nothing left to sell. Interests were sold privately to accredited investors, without public advertising. The SEC record puts the date of first sale at January 20, 2011, before the first filing. 5

Legal Trust name
National Retail Portfolio Venture DST
SEC CIK
1511016
First Form D
Feb 4, 2011
Latest Form D
Aug 15, 2011
Filings on record
11
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$20,960,000
$20,960,000+$39,049
59+1
EDGAR
Form D/A$20,960,000
$20,920,951+$300,885
58+1
EDGAR
Form D/A$20,960,000
$20,620,066+$200,000
57+1
EDGAR
Form D/A$20,960,000
$20,420,066+$900,434
56+4
EDGAR
Form D/A$20,960,000
$19,519,632+$2,404,765
52+10
EDGAR
Form D/A$20,960,000
$17,114,867+$1,760,681
42+8
EDGAR
Form D/A$20,960,000
$15,354,186+$4,897,262
34+11
EDGAR
Form D/A$20,960,000
$10,456,924+$2,553,687
23+6
EDGAR
Form D/A$20,960,000
$7,903,237+$1,004,295
17+8
EDGAR
Form D/A$20,960,000
$6,898,942+$5,256,733
9+6
EDGAR
Form D$20,960,000
$1,642,209
3
EDGAR
Show all 11 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 National Retail Portfolio Venture DST?
National Retail Portfolio Venture DST is a Historical offering. The last Form D, filed Aug 15, 2011, reports the offering fully sold.
What properties did the Trust actually own?
Public sources do not say. Form D filings do not list properties, and research as of August 17, 2026 found no press release, prospectus, or property-specific address tied to this trust's SEC identifier. The filings classify it as retail, consistent with Inland's net-lease retail portfolio programs of that era, but the specific buildings, tenants, and states are unresolved.
What does "all cash" mean for this Trust?
It means investor equity paid for the real estate outright, with no mortgage on the property. There is no loan to refinance at maturity and no lender able to foreclose, which removes the most common source of DST loss. It also means results depend entirely on rent and eventual sale price, with no leverage.
Has any outcome been reported for this Trust?
Only one secondary source addresses it. Baker 1031 Investments' performance page lists National Retail Portfolio Venture DST in its full-cycle table with a 10.3-year hold, a 1.75x equity multiple and a 7.31% annual return, and states that such figures are reported by sponsors and not independently verified. No SEC filing, sponsor press release, or property disposition record confirming a sale was located.
Why are there so few filings on record?
A DST files a Form D to claim its private-placement exemption, then amends it as sales progress. Once the raise finishes, the filing obligation ends — there are no annual reports. This Trust's record therefore stops with the August 15, 2011 amendment, which is normal rather than a sign of trouble, and it is why the offering documents and sponsor reporting are the only detailed sources.

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.