Behringer Net Lease Advisors
6 Programs on record · filing history back to 2013 · 0 classified as raising now
Website not on recordSponsor-reported, from SEC filings and cited sources.
What the record shows
Behringer Net Lease Advisors is the sponsor of the National Income Properties series of Delaware statutory trusts, six programs running from DST I through DST VI with first filings between 2013 and 2015, and it was named promoter of National Income Properties DST III. The platform assembled single-tenant, net-leased commercial real estate into multi-property portfolios; DST I was presented as two Texas retail properties totaling 37,800 square feet with Tractor Supply Company as guarantor. In September 2015 Behringer reported that DST V had closed fully subscribed and that its five programs to that point covered 11 property acquisitions, more than 200,000 square feet, and an aggregate offering price above $42.79 million.
Sponsor-stated figures are as reported by the sponsor.Evidence 12345
The public record tracks 6 Programs across 13 yrs, with all 6 lifecycle-eligible and 6 seasoned, and 0 distress recorded — no material adverse events are documented, which is an absence of records rather than evidence of safety. Lifecycle detail shows 4 levered and unresolved at age over 10y, 1 with leverage unknown, and 1 where the property sold but the result is unknown. The outcome ledger has 1 acknowledged without a figure, 0 figures published, 0 silent, resting on 1 citation.
Raising money now
Classified active by Top1031 from the SEC filings. That does not confirm an offering is still available to buy.
No active offerings are on record for this sponsor.
How this Grade was computed
The four channels describe the documented public record. The published letter also applies evidence gates, ceilings, and adverse floors.
- Ceilings
- The result cannot exceed H + 10 or L + 15, so stronger sales evidence cannot wash out a weaker harm or lifecycle record.
- Evidence gates
- A and B require minimum proof depth, lifecycle history, and channel evidence. A also requires qualifying disclosure coverage.
- Adverse floors
- An Integrity alert sets an F floor. A dominant documented capital loss or multiple independent severe events sets D or lower.
- C2026-Q3 · Moved from C. Binding constraints: proof depth below 4; fewer than 10 lifecycle-eligible Programs; H below 85.
- D2026-Q3 · Moved from C. Binding constraints: proof depth below 4; fewer than 10 lifecycle-eligible Programs; H below 85.
- C2026-Q3 · Moved from D. Binding constraints: proof depth below 4; fewer than 10 lifecycle-eligible Programs; H below 85.
Programs on the record
A Program is the filing-level offering record associated with this sponsor. Published-result figures are shown only with sponsor attribution and adjacent sources.
Who they are
The National Income Properties series
Six Delaware statutory trusts run in sequence under the National Income Properties name: DST I and DST II were first filed in 2013, DST III in 2014, and DST IV, DST V and DST VI in 2015 1. The offering record for National Income Properties DST III named BEHRINGER NET LEASE ADVISORS, LLC as promoter and reported a $5,730,000 total offering amount with a first sale date of October 17, 2014 2.
Net-lease asset composition
The DST I executive summary presented that program as a two-property, single-tenant net-lease retail offering in Texas totaling 37,800 square feet, with Tractor Supply Company as guarantor, double-net roof-and-structure economics, and average remaining lease terms of 11+ years with renewal options 3. On June 8, 2015, Behringer described its net-lease platform as multi-property net-lease portfolios with over $30 million under management and reported that DST III was fully committed and subscribed 4.
Reported program record
On September 15, 2015, Behringer reported that National Income Properties DST V was fully subscribed and closed within three weeks of its offering date, and stated that the five programs sponsored to that point encompassed 11 property acquisitions, more than 200,000 square feet, and an aggregate offering price above $42.79 million 5.
Show sources (5)Hide sources (5)
- Top1031 sponsor record ↗Top1031-derived
- sec.gov ↗Public record
- 1031gateway.com ↗Sponsor disclosure
- prnewswire.com ↗Sponsor disclosure
- prnewswire.com ↗Sponsor disclosure