Sponsor profile
SEC filings + cited sources
AEI Capital Corporation is a St. Paul, Minnesota real estate investment firm founded in 1970 that focuses exclusively on healthcare and retail net-leased properties for accredited investors, family offices, and institutions. The firm reports it has sponsored 152 offerings, acquired 518 properties, and raised $1.61 billion in investor equity since inception. Its Delaware Statutory Trust programs run across the AEI Net Lease Portfolio and AEI Healthcare Portfolio series, holding single-tenant, net-leased medical and retail assets. Recent activity includes healthcare property acquisitions leased to national health systems and a fully subscribed healthcare DST that raised more than $27 million.
Firm background
AEI Capital Corporation was founded in 1970 by Robert P. Johnson in Willmar, Minnesota, and operates from St. Paul; Johnson led the firm until his death in May 2021 1. The company invests exclusively in healthcare and retail net-leased properties and reports 152 sponsored offerings, 518 properties acquired, and $1.61 billion of investor equity raised since inception 2.
DST platform
AEI's Delaware Statutory Trust programs are organized across two long-running series—AEI Net Lease Portfolio and AEI Healthcare Portfolio—that file with the SEC. AEI Healthcare Portfolio V DST is an identified AEI-sponsored filing entity on SEC EDGAR, with its principal office at the firm's St. Paul address 3.
Representative completed program
AEI reported that AEI Healthcare Portfolio V DST raised more than $27 million (about $27.82 million) across three specialized healthcare properties in Indiana and Florida totaling 56,930 square feet, net-leased to Community Health Network and Orlando Health; the firm identified it as its 114th 1031 exchange program and 152nd overall offering 4.
Recent acquisitions
In January 2025, AEI acquired an Illinois medical clinic for $7.51 million leased entirely to Advocate Health 5. In February 2025, it completed an all-cash purchase of a Mercy East Health medical clinic in O'Fallon, Missouri, 100% leased to Mercy Health under a long-term net lease 6.