Inland Private Capital announced on July 14, 2022 that it had sold the pharmacy real estate held by Pharmacy Portfolio IV DST in a single transaction with the properties of Pharmacy Portfolio III DST. The two portfolios sold for a combined $80 million, as reported by the sponsor in its release that day, and the sale produced a total return of 267.06% of original investment, as reported by the sponsor in the same release.
Both programs were zero coupon offerings, the term used in the sponsor's release, and the sponsor described the two sales as the first full cycles it had completed for that structure.
Item | Record |
|---|---|
Trust | Pharmacy Portfolio IV DST |
Sponsor | Inland Private Capital |
First Form D filed | |
Offering ceiling | $5,220,068 |
Minimum investment | $25,000 |
Exemption | 506(b) |
Asset class as filed | Other Real Estate |
Disposition | Property sold, July 14, 2022 |
Average annual return | 15.08%, as reported by the sponsor in its July 14, 2022 release |
The same figures appear in trade coverage of the sale by IREI and AltsWire, each sourced to the sponsor's release, which ConnectCRE and Blue Vault also reported.
The Form D carries no performance figures, and the record here does not carry a count of investors. The distribution terms, and any outcome the sponsor modeled at the outset, sit in the private placement memorandum, which is not a public document. Neither the release nor the coverage divides the combined price between the two trusts, so the portion attributable to this Trust's real estate is not established. The record does not state when the Trust acquired the properties either, so the interval stated here runs from the first Form D filing to the sale rather than from acquisition.
Top1031's Historical record carries 41 other full-cycle dispositions for Inland Private Capital.