Top1031

Pharmacy Portfolio DST

Net lease retail property · sponsored by Inland Private Capital

HistoricalLast Form D, filed Sep 17, 2010, reports the offering fully sold (opens in a new tab)

Pharmacy Portfolio DST was a DST sponsored by Inland Private Capital that owned a net lease retail property. Its last Form D, filed Sep 17, 2010, reports the offering fully sold.

How it ended

No public outcome found

The last Form D, filed Sep 17, 2010, reports the offering fully sold.

Inland Private Capital has 8 active offerings on record →

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$12,715,000
Equity offered, per the Form D
Sold
100%
Form D, Sep 17, 2010; the % is our arithmetic
Investors reported
61
Form D, Sep 17, 2010
Selling commissions
$890,050 · 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: Pharmacy Portfolio DST. Top1031 is not a broker-dealer.

What did Pharmacy Portfolio DST own?

The portfolio consists of freestanding CVS Pharmacy stores built in 2008 and assembled by Inland Real Estate Exchange Corporation for 1031 exchange buyers, with the Trust closing and funding around August–September 2010. The public filings and sponsor materials reviewed do not disclose the store addresses, cities, or building sizes. The issuer was organized as a Delaware statutory trust, with its address at Inland's Oak Brook, Illinois offices. 1

Property size
3 single-tenant CVS Pharmacy properties

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 public record does not settle how this portfolio was capitalized. A Form D reports the equity sold in the offering, not any mortgage on the real estate, and the sponsor materials reviewed do not say whether the Trust carried debt or bought all-cash. The offering documents and closing documents are where that answer lives.

Debt

Financing
All cash. This offering reports no mortgage debt.

Costs and terms from the Form D

Selling commissions
$890,050 · 7.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$631,131 · 4.9% of offering
Form D Item 16
Broker-dealers named in the Form D
22 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Mar 15, 2010
Minimum investment
$100,000

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 Form D reports a first sale on March 15, 2010, roughly a month before the initial notice reached EDGAR. 1 Amendments followed through September 2010, each restating a higher amount sold and a larger investor count, until the raise ended. Nothing has been filed under this CIK since.

Legal Trust name
Pharmacy Portfolio DST
SEC CIK
1489401
First Form D
Apr 14, 2010
Latest Form D
Sep 17, 2010
Filings on record
6
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$12,715,000
$12,715,000+$741,662
61+12
EDGAR
Form D/A$12,715,000
$11,973,338+$4,155,809
49+10
EDGAR
Form D/A$12,715,000
$7,817,529+$3,000,184
39+11
EDGAR
Form D/A$12,715,000
$4,817,345+$1,780,010
28+9
EDGAR
Form D/A$12,715,000
$3,037,335+$1,674,760
19+9
EDGAR
Form D$12,715,000
$1,362,575
10
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 Pharmacy Portfolio DST?
Pharmacy Portfolio DST is a Historical offering. The last Form D, filed Sep 17, 2010, reports the offering fully sold.
What does triple-net mean for a CVS store like these?
Under a triple-net (NNN) lease, the tenant pays property taxes, building insurance, and maintenance on top of rent, leaving the landlord with limited day-to-day operating responsibility. The economics then depend heavily on tenant credit. Here, the sponsor materials state that CVS Caremark Corporation guaranteed the obligations, so the parent company stands behind the store-level tenant.
Did this portfolio ever sell?
No disposition document naming Pharmacy Portfolio DST appears in the SEC record; the CIK's filing history ends with the September 17, 2010 Form D amendment, and Form D filings do not report sales of real estate. AltsWire reported on July 7, 2022 that Inland Private Capital monetized 29 pharmacy properties for 1031 investors, but that report does not name this Trust. Ask the sponsor for the closing statement if you need the outcome.
Where are the three stores?
The public filings and the sponsor summary materials reviewed identify the portfolio as three single-tenant CVS Pharmacy stores but do not list their addresses, cities, or states. The Form D lists only the issuer's Oak Brook, Illinois address, which is the sponsor's office, not a property location. Property-level detail would appear in the offering documents.
What does it mean that the offering was made under Rule 506(b)?
Rule 506(b) is the private-placement exemption that lets an issuer raise money without registering with the SEC, provided it does not advertise or generally solicit and sells essentially only to accredited investors — people meeting SEC income or net-worth thresholds. Investors typically come through existing relationships with the sponsor or a broker-dealer, and the full terms sit in the offering documents rather than a public prospectus.

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.