No documented loss found in searched sources. Fewer than 3 outcomes to rate (0 published results, 0 documented sales). NR is not a failing grade. A letter needs 3 counted outcomes or 3 documented sales.
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Lost or impaired investor capitalCounted outcomes
00
No documented loss found in searched sources as of Sep 4, 2026.
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Programs found in SEC fundraising filings (Form D)
Share of programs over 3 years old whose status we confirmed
42%
Chapter 2
Which Programs are on the record?
A Program is one filing-level offering record associated with this Sponsor. Results are public and stay next to their source. A loss category stays inside the Grade veil.
ProgramFirst filedSponsor-stated result + sourceCounted as
AEI Healthcare Portfolio V DST2024Trust remains active and operating; the offering was fully subscribed at $27.82 million (announced Jan. 15, 2026 on aeifunds.com and Jan. 22, 2025 on AltsWire) and JRW Investments' directory lists AEI Healthcare Portfolio V DST as Active with 5.07% distributions, with no sale, full-cycle, UPREIT, foreclosure, or loss announcement found.Source ↗As reported by the sponsor.
AEI NET LEASE PORTFOLIO 21 DST2023No full-cycle, sale, foreclosure, or UPREIT-exchange announcement was located for AEI Net Lease Portfolio 21 DST (raised Feb–Aug 2023); the trust remains listed as Active/Reviewed on the JRW Investments AEI sponsor page and is well within AEI's typical 7–10 year DST hold window [1][2].Source ↗As reported by the sponsor.
AEI NET LEASE PORTFOLIO 22 DST2023Trust remains active and operating; JRW Investments' directory lists AEI Net Lease Portfolio 22, DST as Active with 4.71% distributions (as of July 25, 2023), and no sale, full-cycle, UPREIT, foreclosure, or loss announcement has been found on the sponsor site (aeifunds.com), AltsWire, BlueVault, or trade press.Source ↗As reported by the sponsor.
AEI NET LEASE PORTFOLIO 19 DST2022No full-cycle, sale, foreclosure, or UPREIT-exchange announcement was located for AEI Net Lease Portfolio 19 DST (raised May–Jul 2022); the trust remains listed as Active/Reviewed on the JRW Investments AEI sponsor page and is well within AEI's typical 7–10 year DST hold window [1][2].Source ↗As reported by the sponsor.
AEI Net Lease Portfolio 20 DST2022No full-cycle, sale, foreclosure, or UPREIT-exchange announcement was located for AEI Net Lease Portfolio 20 DST (raised Sep 2022–Jan 2023); the trust remains listed as Active/Reviewed on the JRW Investments AEI sponsor page and is well within AEI's typical 7–10 year DST hold window [1][2].Source ↗As reported by the sponsor.
AMG Chicago + Winding WoodsNet lease·Multi-state (2)SEC filing, Oct 23, 2025
$22.0M
89%
Active
Chapter 4
Who is behind this record?
AEI Capital Corporation is a net lease real estate sponsor headquartered in Saint Paul, Minnesota, that describes itself as Midwest-based and founded in 1970. The firm says it invests exclusively in healthcare and retail property for high-net-worth individuals, family offices, and institutions, and that its Delaware statutory trust offerings give investors fractional ownership of institutional-quality real estate with in-house asset and portfolio management. AEI reported that as of December 31, 2025 it had acquired 521 properties across 44 states and managed 234, and it says it has offered more than 110 1031 exchange offerings, including AEI Healthcare Portfolio V DST, which it announced as fully subscribed and closed in January 2025.
Sponsor-stated figures are as reported by the sponsor.Evidence 12345678910111213
Written from SEC filings and cited sources
Firm and net lease platform
AEI Capital Corporation lists its home office at 1300 Wells Fargo Place, 30 East Seventh Street, Saint Paul, Minnesota, and describes itself as a Midwest-based firm investing exclusively in healthcare and retail assets for high-net-worth individuals, family offices, and institutions 1. Its legacy page credits founder Robert P. "Bob" Johnson with forming AEI Inc. in 1970 2. AEI describes a targeted strategy of acquiring well-located real estate occupied by creditworthy tenants under long-term net leases 3, and states that owning income-producing net-leased real estate on a debt-free basis can reduce risk 4. The firm says its DST offerings provide fractional ownership of institutional-quality real estate and that it has successfully offered more than 110 1031 exchange offerings over its history 5. As of December 31, 2025, AEI reported that it had acquired 521 properties in 44 states and managed 234 properties 6.
Trust programs and dated filings
Top1031 tracks 28 AEI DST programs, with first filings running from AEI Net Lease Portfolio DST in 2014 through AEI Healthcare Portfolio VII DST in 2026 7. Issuer filings report a first sale dated July 17, 2025 for AEI Healthcare Portfolio VI DST 8 and a first sale dated March 6, 2026 for AEI Healthcare Portfolio VII DST 9.
Acquisitions and closed offerings
In January 2025, AEI announced that AEI Healthcare Portfolio V DST, identified as its 114th 1031 exchange offering, was fully subscribed and closed to new investors after raising more than $27 million against a sponsor-reported offering amount of $27.82 million; the portfolio held three net-leased healthcare properties in Indiana and Florida totaling 56,930 square feet 10. AEI announced an all-cash acquisition completed on December 18, 2024 of a 25,000-square-foot Advocate Medical Group clinic at 2210 West 95th Street in Chicago, Illinois, for $7,510,000, leased by an affiliate of Advocate Health 11. It announced a further all-cash acquisition completed on February 18, 2025 of the 44,645-square-foot Mercy East Health medical clinic at 300 Winding Woods Drive in O'Fallon, Missouri, for $11,345,000, reported as 100% leased to Mercy Health under a long-term net lease 12.
Earlier net lease funds
Filing records for AEI's earlier net lease fund programs report sale dates of 1999 for AEI Institutional Net Lease Fund '93, 2006 for AEI Real Estate Fund XV, and 2010 for AEI Real Estate Fund XVIII 13.
AEI Capital Corp. buys medical office in Bristol, ConnecticutAEI Capital Corp. purchased a new medical facility in Bristol, Connecticut, from Endurance Properties for $19.9 million; the property is leased to UnitedHealthcare for 12 years and is the underlying asset of AEI's Healthcare Portfolio VII DST.
AEI Acquires an Advocate Medical Group ClinicAEI Capital Corporation announced the all-cash acquisition of an Advocate Medical Group clinic at 2210 West 95th Street, Chicago, Illinois for $7.51 million, leased to an affiliate of Advocate Health.
Medical office building in Bristol sold for nearly $20MHartford-area business journal reported the medical office building at 1251 Farmington Ave, Bristol, CT, a 26,255-sf Class A MOB leased to UnitedHealthcare under a 12-year NNN lease, sold for nearly $20 million to a private retail-oriented fund.
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