Top1031

PEM National Oilwell Varco II DST 1031

Industrial property in Houston, TX · sponsored by Principle Equity Properties

Historical · soldSold · last Form D Jul 7, 2011property.compstak.com (opens in a new tab)

PEM National Oilwell Varco II DST 1031 was a DST sponsored by Principle Equity Properties that owned an industrial property in Houston, TX (53,500 square feet). Sold.

How it ended

No public outcome found

Sold.

Source: cited report (opens in a new tab)

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$3,083,333
Equity offered, per the Form D
Sold
100%
Form D, Jul 7, 2011; the % is our arithmetic
Investors reported
22
Form D, Jul 7, 2011
Selling commissions
$208,330 · 6.7% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
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 →

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Ask a 1031 specialist about this recordFree. About: PEM National Oilwell Varco II DST 1031. Top1031 is not a broker-dealer.

What did the Trust own?

The building sits at 9616 Telge Road in Aberdeen Industrial Park, off Highway 290 in northwest Houston. 1 Its developer sold a pump-assembly business to National Oilwell Varco in 2008 and built this facility as part of that transaction, later expanding the operation as an NOV employee. 3 The offering summary describes steel-frame construction with concrete tilt-up walls, built in 2008/2009 and used for office and manufacturing. 4

Reported location
Houston, TX
Property size
53,500 square feet

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

The offering was capitalized with assumable non-recourse debt of $3,250,000 alongside investor equity. 8 The stated lender was Aviva Life and Annuity Company; non-recourse means the lender's remedy runs to the property, not to investors personally. 9 Those are 2011 offering-era terms, and no later filing on record updates them.

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$208,330 · 6.7% 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
6 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jan 3, 2011
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.

What does the SEC record show?

The public paper trail is one notice and nothing after it — no amendments, no later filings. That notice reports a first sale on January 3, 2011, roughly six months before it reached EDGAR. 10 Interests were sold privately to accredited investors — those meeting SEC income or net-worth tests — without public advertising.

Legal Trust name
PEM NOV II DST
SEC CIK
1517188
First Form D
Jul 7, 2011
Latest Form D
Jul 7, 2011
Filings on record
1
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$3,083,333
$3,083,333
22
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 PEM National Oilwell Varco II DST 1031?
PEM National Oilwell Varco II DST 1031 is a Historical offering. Sold.
What does a double-net lease mean for the owner here?
Under the lease described in the sponsor's offering summary, the tenant pays operating costs, insurance premiums and real estate taxes, while the landlord remains responsible for the roof and exterior walls. That is one step short of triple-net, where structural items typically also sit with the tenant.
Who was the tenant, and who stood behind the lease?
National Oilwell Varco, LP occupied the building and also served as lease guarantor. The offering summary describes it as a wholly-owned subsidiary of National Oilwell Varco, Inc., servicing, refurbishing, cleaning and testing oilfield equipment and building downhole tools.
Has the Trust reported an outcome — a sale or wind-up?
No outcome has been reported in any primary record found as of August 16, 2026; the EDGAR file contains only the 2011 Form D. A LoopNet listing for 9616 Telge Road carries a July 12, 2023 date on market and states the property is no longer advertised, which does not establish a sale, current occupancy, or ownership.
Was a 721/UPREIT exit part of this Trust?
No. The record shows no REIT conversion feature — a 721 or UPREIT exit is where a DST's property is contributed to a REIT's operating partnership in exchange for units instead of cash.

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.