Behringer Net Lease Advisors
DST Sponsor · SEC filing history and documented Program outcomes
Website not on recordSponsor-reported, from SEC filings and cited sources.
What is on this sponsor’s Record Card?
Behringer Net Lease Advisors
0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. NR is not a failing grade. A letter needs 3 counted outcomes or 3 documented sales.
Completed sales 0Losses or impairments 0Counted Programs 0
- Programs found in SEC fundraising filings (Form D)
- 6
- Share of programs over 3 years old whose status we confirmed
- 0%
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.
Show all 6 Programs
Active offerings
Classified active by Top1031 from SEC filings. That does not confirm an offering is still available to buy.
No active offerings are on record for this sponsor.
Who is behind this record?
Behringer Net Lease Advisors sponsored the National Income Properties series of Delaware statutory trusts, six programs from DST I through DST VI with first filings between 2013 and 2015. Behringer described the platform as a series of multi-property 1031 DST offerings and separately managed accounts for retail investors and qualified investment buyers. Its DST I executive summary presented two Texas single-tenant net-lease retail properties totaling 37,800 square feet, leased to a Tractor Supply operating entity and guaranteed by Tractor Supply Company. In September 2015 Behringer reported DST V fully subscribed and closed, with its five programs then covering 11 property acquisitions and more than 200,000 square feet.
Sponsor-stated figures are as reported by the sponsor.Sources: Top1031 sponsor record · PR Newswire (news provided by Behringer) · Behringer Harvard Net Lease Advisors, LLC (executive summary)
The National Income Properties series
Behringer Net Lease Advisors is the sponsor behind six Delaware statutory trusts filed 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 20151. In September 2015 Behringer described the platform as a series of multi-property 1031 DST offerings paired with separately managed accounts, aimed at both retail investors and qualified investment buyers2.
Representative portfolio and capitalization
The 2013 DST I executive summary presented that program as two Texas single-tenant net-lease retail properties totaling 37,800 square feet, leased to Tractor Supply Co. of Texas, LP and guaranteed by Tractor Supply Company (NYSE: TSCO), under a double-net lease structure covering roof and structure. The same summary stated a total purchase price of $6,226,700, a loan balance of $4,039,700 and an equity offering amount of $2,227,0003.
Reported program outcomes
On June 8, 2015, Behringer reported that National Income Properties DST III, the third in the series, was fully committed and subscribed4. On September 15, 2015, Behringer reported that DST V was fully subscribed and had closed, reaching full subscription within three weeks of its offering date, and said the five programs sponsored to that point encompassed 11 property acquisitions, more than 200,000 square feet and an aggregate offering price of more than $42.79 million2.
Show sources (4)Hide sources (4)
- Top1031 sponsor record ↗Top1031-derived
- PR Newswire (news provided by Behringer) ↗Sponsor disclosure
- Behringer Harvard Net Lease Advisors, LLC (executive summary) ↗Sponsor disclosure
- PR Newswire (news provided by Behringer) ↗Sponsor disclosure
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