Top1031

National Senior Living Portfolio DST

3 senior living properties in 3 states · sponsored by Inland Private Capital

HistoricalLast Form D, filed Oct 2, 2025, reports the offering fully sold (opens in a new tab)

National Senior Living Portfolio DST was a DST sponsored by Inland Private Capital that owned 3 senior living properties in 3 states. Its last Form D, filed Oct 2, 2025, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Oct 2, 2025, 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
$149,015,215
Equity offered, per the Form D
Sold
100%
Form D, Oct 2, 2025; the % is our arithmetic
Investors reported
252
Form D, Oct 2, 2025
Selling commissions
$7,450,760 · 4.9% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries 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: National Senior Living Portfolio DST. Top1031 is not a broker-dealer.
National Senior Living Portfolio DST image

National Senior Living Portfolio DST · Photo: seniorshousingbusiness.com

What did the Trust own?

The Trust indirectly owns three Clarendale-branded communities: Clarendale of Chandler in Chandler, Arizona (232 units), Clarendale of St. Peters in Missouri (214 units), and Clarendale at Indian Lake in Hendersonville, Tennessee (189 units), each offering independent living, assisted living and memory care. 2 Inland Real Estate Acquisitions announced on December 18, 2024 that it had negotiated and closed the purchase for an Inland affiliate, reporting average occupancy of 92% at closing. 3

Property address
Clarendale of Chandler: 5900 South Gilbert Road, Chandler, Arizona
Property size
635 total units

How was it financed, and what did it cost to sell?

The reviewed public record does not say whether the communities carry mortgage debt. No lender, loan balance or loan terms appear in the Form D filings or in the sponsor's announcements about this Trust.

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.

Costs and terms from the Form D

Selling commissions
$7,450,760 · 4.9% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$13,588,537 · 9.1% of offering
Form D Item 16
· The filing’s note: “Estimate of certain fees, including Dealer Fee, Placement Agent Fee, O&O Expenses, Acquisition Fee and Reimbursement of Acquisition and Financing that may accrue to one or more related persons.”
Broker-dealers named in the Form D
29 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Nov 26, 2024
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. The issuer marked these amounts as an estimate.

What does the SEC record show?

The offering was made under Rule 506(b), the private-placement exemption that bars general advertising and limits sales to investors — chiefly accredited investors — who already had a relationship with the sponsor. An initial Form D was followed by two amendments tracking sales progress, the last of which reported nothing left to sell.

Legal Trust name
National Senior Living Portfolio DST
SEC CIK
2047579
First Form D
Dec 6, 2024
Latest Form D
Oct 2, 2025
Filings on record
3
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$149,015,215
$149,015,215+$29,233,375
252+34
EDGAR
Form D/A$149,015,215
$119,781,840+$119,580,440
218+217
EDGAR
Form D$149,015,215
$201,400
1
EDGAR

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 Senior Living Portfolio DST?
National Senior Living Portfolio DST is a Historical offering. The last Form D, filed Oct 2, 2025, reports the offering fully sold.
What does the Trust actually own?
Three Class-A senior living communities operating under the Clarendale brand: Clarendale of Chandler in Chandler, Arizona; Clarendale of St. Peters in St. Peters, Missouri; and Clarendale at Indian Lake in Hendersonville, Tennessee. Each community offers independent living, assisted living and memory care, according to the sponsor.
Who runs the communities day to day?
Life Care Services (LCS), which the sponsor's acquisition announcement described as having managed the portfolio since inception and continuing to manage all three communities after Inland's purchase. Senior living is an operating business, so results depend on the operator's execution, not on a single tenant's rent check.
How much debt does the Trust carry?
The public record reviewed does not disclose it. Form D filings do not report leverage, and neither the sponsor's releases nor the trade coverage identified a lender or loan terms for this Trust. The offering documents are the documents that would set out any financing.
What was the minimum investment?
The Form D filings reported a $25,000 minimum investment for this offering. That figure is historical — the offering is closed — and is stated here only as filed with the SEC.
Does the Trust have a 721/UPREIT exit?
The record shows no REIT conversion feature — a 721/UPREIT exit is a structure in which DST interests are later exchanged for operating-partnership units in a REIT. Where a Trust does not indicate one, an eventual sale of the properties is the usual exit path, but only the governing documents define what may happen.

In the news

Sources

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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.