Inland Private Capital announced on January 5, 2022 that it had sold eight Walgreens properties in Arkansas, Michigan, Missouri and Tennessee on behalf of Pharmacy Sale Leaseback II DST for $37 million, as reported by the sponsor in its announcement. The sale took the Delaware Statutory Trust (DST) full cycle.
The eight properties totaled 113,130 square feet, according to that announcement.
The disposition on record | |
|---|---|
Exit type | Property sold |
Announcement date | January 5, 2022 |
Total return | 156.61% total return, as reported by the sponsor in its January 5, 2022 announcement |
Average annual return | 7.52%, as reported by the sponsor in that announcement |
Trade coverage of the sale, in AltsWire on January 6, 2022 and in REJournals, carries the same figures as the sponsor's release.
The offering as filed | |
|---|---|
Trust | Pharmacy Sale Leaseback II DST |
Sponsor | Inland Private Capital |
Asset class | Other Real Estate |
Exemption | 506(b) |
First Form D | July 8, 2014 |
Offering ceiling | $10,332,609 |
Minimum investment | $25,000 |
The hold is measured from that first Form D. The sponsor's announcement dates the purchase of the properties to March 2014, a few months before the filing, and Top1031 measures from the filing date because that is the date the public record fixes.
The offering was made under Rule 506(b), and no private placement memorandum appears on the public record. No original distribution terms for the offering appear there either. Neither the sponsor's announcement nor the disposition record states how much equity the Trust raised against its ceiling, what it paid out during the hold, or how any individual investor fared after fees and taxes. The record carries no equity multiple.
This sale joins that cumulative record as a property sale, dated and sponsor-reported.