NLC Health Investors DST
Healthcare property in Philadelphia, PA · sponsored by Net Lease Capital Advisors
NLC Health Investors DST is a DST sponsored by Net Lease Capital Advisors that owns a healthcare property in Philadelphia, PA. Its latest Form D, filed Mar 6, 2026, lists a $145.4 million offering with a $150,000 minimum.
Key facts
- Minimum investment
- $150,000From the Form D
- Offering size
- $145,476,941Equity offered, per the Form D
- Sold so far
- Form D, Mar 6, 2026; the % is our arithmetic99.8%
- Investors reported
- Form D, Mar 6, 202653
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,005,829 · 0.6% of offering
- 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 →
Sales so far
- Latest Form D
- Mar 6, 2026 · 3 filings
- First sale
- Oct 15, 2025
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $145,239,705
- Not yet sold
- $237,236
- Investors
- 53
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
99.8% of $145,476,941 sold, calculated by Top1031 from the Form D
- Average since first sale
- about $31.1 million a month
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Ask a 1031 specialist about this recordFree. About: NLC Health Investors DST. Top1031 is not a broker-dealer.No photo on record. Location not stated in the SEC filings.
What does NLC Health Investors DST own?
The Trust's brochure identifies two adjacent office buildings at 200 and 300 Stevens Drive in Philadelphia, Pennsylvania, with a combined 277,579 square feet. 1 The same brochure gives June 9, 2025 as the acquisition date and names 200 Airport KPG III, LLC as the landlord. 1
- Reported location
- Philadelphia, PA
How have sales gone?
The sponsor’s own numbers, with the caveat in Sales so far ↑.
How is it financed, and what did it cost to sell?
The brochure describes a zero cash flow structure: two mortgage loans encumber the property and all rent goes to the lenders, so investors receive no regular distributions. 1 Of the $145,476,941 offering, the brochure shows $123,291,708 as debt and $22,185,233 as equity. 1
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
- $1,005,829 · 0.6% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 12 named in the Form D
Show the firms
- 1031 Securities Inc. · CRD 326590
- American Alternative Capital, LLC · CRD 309956
- American Trust Investment Services, Inc. · CRD 3001
- Arkadios Capital · CRD 282710
- Capulent LLC · CRD 155155
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Great Point Capital LLC · CRD 114203
- Lighthouse Capital Group, LLC · CRD 169135
- Metropolitan Capital Investment Banc, Inc. · CRD 148820
- Money Concepts Capital Corp · CRD 12963
- RCX Capital Group, LLC · CRD 114290
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Oct 15, 2025
- Minimum investment
- $150,000
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.
Who's behind NLC Health Investors DST?
Net Lease Capital Advisors sponsors the Trust from Nashua, New Hampshire, and the Trust lists its business address care of the firm there. 2 The Trust itself is a Delaware statutory trust organized in 2025, and the sponsor files its exchange programs under its own name. 3
- Sponsor
- Offerings on record
What does the SEC record show?
- Legal Trust name
- NLC Health Investors DST
- SEC CIK
- 2085986
- First Form D
- Oct 1, 2025
- Latest Form D
- Mar 6, 2026
- Filings on record
- 3
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $145,476,941 | $145,239,705 | 53 | EDGAR | |
| Form D (new notice) | $145,476,941 | $145,239,705 | 53 | EDGAR | |
| Form D | $145,476,941 | $0 | 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
- Is NLC Health Investors DST an active offering?
- NLC Health Investors DST is an Active offering: its latest Form D was filed Mar 6, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- What property does NLC Health Investors DST own?
- Two adjacent office buildings at 200 and 300 Stevens Drive in Philadelphia, Pennsylvania, with a combined 277,579 square feet, according to the Net Lease Capital Advisors brochure for this Trust. The brochure gives June 9, 2025 as the acquisition date and names 200 Airport KPG III, LLC as the landlord.
- Who pays the rent?
- The sponsor's brochure names Keystone Family Health Plan, AmeriHealth Caritas Health Plan, AmeriHealth Caritas Services LLC and BMH LLC, doing business as AmeriHealth Caritas, as the tenants. The lease is triple-net, meaning the tenant covers property taxes, insurance and building upkeep. Blue Cross Blue Shield of Michigan and Independence Health Group are named as guarantors.
- How long does the lease run?
- The brochure describes a 17-year triple-net lease that began November 21, 2024 and matures in 2041. It also states annual rent escalations during the term. The lease term extends past the dates of the Trust's Form D filings, which were made in October 2025 and March 2026.
- What does zero cash flow mean for this Trust?
- Zero cash flow means all of the rent is paid to the lenders, so investors receive no regular cash distributions while the loans are outstanding. The Net Lease Capital Advisors brochure describes the offering that way and states the property is encumbered by two mortgage loans. The brochure splits the $145,476,941 offering into $123,291,708 of debt and $22,185,233 of equity.
- What is the minimum investment?
- Every Form D on file, from the first on October 1, 2025 through the March 6, 2026 amendment, states a $150,000 minimum investment from an outside investor. Sponsors sometimes set a different minimum for cash investors than for 1031 exchangers, and the offering documents govern the terms.
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.