Convenience Net Lease Portfolio DST reached full cycle on June 1, 2015, with the sale of the property the Trust held. The identification rests on the sponsor's own completed track record, where the row reads Convenience Net Lease DST; Top1031 matches that row to this Delaware Statutory Trust (DST).
Item | Record |
|---|---|
Trust | Convenience Net Lease Portfolio DST |
Sponsor | Inland Private Capital |
First Form D filing | December 24, 2013 |
Offering amount, as filed | $14,225,243 |
Minimum investment | $25,000 |
Exemption | 506(b) |
Asset class, as filed | Other Real Estate |
Exit type | Property sold |
Exit date | June 1, 2015 |
Hold | 1.5 years as carried in Top1031's record; 1.4 years as derived from the first filing date and the exit date |
Gross sale price | $35,329,302, as reported by the sponsor in the private placement memorandum for a later offering, Sun Belt Multifamily Portfolio III DST, medium confidence |
Total return to investors | 125.85% of original capital invested, as reported by the sponsor in that memorandum, medium confidence |
Equity multiple | 1.26, as reported by the sponsor in that memorandum, medium confidence |
Annualized return | 17.48%, as reported by the sponsor in that memorandum, medium confidence |
No dated announcement of the sale from Inland Private Capital is in Top1031's record, and no news coverage of it. The memorandum for the later offering is the whole of the outcome record here, and it states the result four ways: a gross price, a return measured against original capital, a multiple and an annualized figure. It does not say how the sponsor arrived at any of them.
The Trust's Form D states the size of the offering and nothing else about the deal: not what the portfolio cost, not what debt the Trust carried, not how many properties it held or where they stood, not what any single investor received at the end. The buyer is not on the record.