Top1031

FC Grand Rapids MI Investors DST

sponsored by Net Lease Capital Advisors

HistoricalLast Form D filed Dec 22, 2020 (opens in a new tab)

FC Grand Rapids MI Investors DST, sponsored by Net Lease Capital Advisors, filed its first Form D with the SEC on Aug 11, 2020 for a $24.1 million offering. Its last Form D was filed Dec 22, 2020.

How it ended

No outcome recorded · under 7 years

Last Form D filed Dec 22, 2020.

Net Lease Capital Advisors has 8 active offerings on record →

Key facts

Minimum investment
$0
From the Form D
Offering size
$24,164,713
Equity offered, per the Form D
Sold
40.4%
Form D, Dec 22, 2020; the % is our arithmetic
Investors reported
27
Form D, Dec 22, 2020
Selling commissions
$200,634 · 0.8% of offering
Form D Item 15; the % is our arithmetic
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: FC Grand Rapids MI Investors DST. Top1031 is not a broker-dealer.

What did the Trust own?

No source reviewed identifies the building. The Form D classifies the issuer's industry only as "Other Real Estate" and names no property, address, size, tenant, or purchase price. 1 Beyond the SEC filing and the sponsor's own profile page, no marketing property name, address, asset class, or size was located. The legal name points to Grand Rapids, Michigan; nothing in the public record confirms a specific address there.

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

Costs and terms from the Form D

Selling commissions
$200,634 · 0.8% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$0 · 0.0% of offering
Form D Item 16
Broker-dealers named in the Form D
10 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jul 29, 2020
Minimum investment
$0

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?

Interests were offered under Rule 506(b), the private-placement rule that bars general advertising and limits sales to investors the sponsor already knew, substantially all of them accredited. The issuer reported its first sale on July 30, 2020, and each later amendment restated the running subscription totals rather than changing the offering size. 1

Legal Trust name
FC GRAND RAPIDS MI INVESTORS DST
SEC CIK
1820388
First Form D
Aug 11, 2020
Latest Form D
Dec 22, 2020
Filings on record
4
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$24,164,713
$9,781,616+$1,605,947
27+7
EDGAR
Form D/A$24,164,713
$8,175,669+$4,456,403
20+9
EDGAR
Form D/A$24,164,713
$3,719,266+$3,496,132
11+9
EDGAR
Form D$24,164,713
$223,134
2
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 FC Grand Rapids MI Investors DST?
FC Grand Rapids MI Investors DST is a Historical offering. Last Form D filed Dec 22, 2020.
What property does FC Grand Rapids MI Investors DST own?
The public record does not say. The Form D and its amendments describe the issuer's industry only as "Other Real Estate" and name no property, address, asset class, square footage, or tenant, and no sponsor marketing page for the Trust was located. A senior living community in Grand Rapids surfaced in research as an adjacent lead only — no source ties it to this Trust.
How much detail does a Form D actually give an investor?
Very little. A Form D reports the issuer's name, the sponsor's related persons, the exemption claimed, the total offering amount, the amount sold, the investor count, and sales commissions. It does not disclose the property, the lease, the lender, the loan terms, or projected distributions. Those live in the offering documents, which the sponsor gives to prospective investors.
What is the White Law Group page about?
On September 17, 2025, the securities law firm The White Law Group posted an investor alert saying it was investigating potential securities claims involving FC Grand Rapids MI Investors DST.
Is this Trust set up to convert into a REIT?
The record shows no 721 or UPREIT exit — the arrangement in which a DST's property is contributed to a REIT's operating partnership in exchange for units. Top1031's data marks this Trust as not convertible to a REIT, and no filing describes such an exit path.

Sources

Show sources (5)Hide sources (5)

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.