PNS Grocery DST sold its property on July 29, 2016. The Trust's Form D was filed under its own CIK on May 25, 2012, at a minimum investment of $25,000. Nothing in the filing record states who executed the sale.
Disposition record | |
|---|---|
Exit type | Property sold |
Offering ceiling as filed | $7,452,225 |
Hold | 4.25 years as the record states it; 4.2 years derived from the exit and first-filing dates. This report relies on the stated figure rather than the one computed from the dates. |
Sale price | $13,000,000, as reported by the sponsor in the later memorandum |
Annualized return | 6.07%, as reported by the sponsor in the later memorandum |
Equity multiple | 1.24x, as reported by the sponsor in the later memorandum |
Total return | not stated |
Those figures reach the record by an indirect route. They appear in a document whose filename identifies it as the IPC Sun Belt Multifamily III private placement memorandum dated 03192020, where the Trust is listed as a completed, full-cycle program. No disposition announcement for PNS Grocery DST is in the evidence for this report.
What the property was, the filing record does not say. The offering's marketing title names grocery; the Form D identifies no store, tenant, or location, and Top1031 records the asset class as Other Real Estate. No document in the evidence names the buyer.
Top1031's file on Inland Private Capital records nine full-cycle programs before this one. For PNS Grocery DST, the record establishes the date the property changed hands, the hold, and the sponsor's own account of the result. Beyond the price, the terms of the sale are not disclosed in the documents.