National Retail Portfolio Venture DST
Retail — sponsored by Inland Private Capital
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
National Retail Portfolio Venture DST is a Delaware statutory trust — a passive co-ownership vehicle used by 1031 exchangers — sponsored by Inland Private Capital and organized in Delaware in 2010.1 It raised all-cash equity from accredited investors (those meeting SEC income or net-worth tests) during 2011, closed fully subscribed, and is now closed to new investors. SEC filings never identify the retail properties it held.
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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 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 Nothing in the SEC record, and nothing located in open web sources as of August 17, 2026, names the properties, their tenants, or their locations. The portfolio behind the name remains unresolved in the public record.
How did it end?
No ending on record
No direct or indirect full-cycle or sale announcement located for National Retail Portfolio Venture DST (CIK 1511016) after searching AltsWire, BlueVault, SEC EDGAR, Inland newsroom, and press release wires; outcome remains unknown.
Public web coverage for this 2011-vintage Inland Private Capital net-lease retail DST was not located. Inland's contemporaneous retail-portfolio DSTs of that era (e.g., the 2012 Family Discount Portfolio DST, the 2013 National Net Lease Portfolio III DST) were multi-property, all-cash, net-leased retail portfolios. No press release, prospectus, or property-specific address could be confirmed for this specific trust from open web sources within the research budget.
How is it financed, and what does it pay?
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.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
Inland Private Capital is among the more prolific sponsors of DST programs sold to 1031 exchangers, with an SEC filing history reaching back to this Trust's 2011 vintage and continuing today. The Form D names Inland Private Capital Corporation together with National Retail Portfolio Venture, L.L.C. and National Retail Portfolio Exchange Venture, L.L.C. as related promoters of the Offering.3 Baker 1031 Investments' full-cycle table lists this Trust at a 10.3-year hold, 1.75x equity multiple and 7.31% annual return, stating such results are sponsor-reported and not independently verified.4
- Sponsor
- Inland Private Capital
- Legal Trust name
- National Retail Portfolio Venture 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 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
- 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
- 11
- 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 National Retail Portfolio Venture DST?
Top1031 lists National Retail Portfolio Venture DST as historical. It is no longer raising money.
Where does Top1031 get the data for National Retail Portfolio Venture 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. The Offering is closed to new investors. The final Form D amendment, filed August 15, 2011, reported the raise fully subscribed with nothing remaining to be sold. Any interest in this Trust today would have to come from a secondary transfer, which DST trust agreements typically restrict and which no public filing documents here.
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 PPM and sponsor reporting are the only detailed sources.