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Sponsors/Net Lease Capital Advisors
Net Lease Capital Advisors logo

Net Lease Capital Advisors

DST sponsor · first SEC filing 2014 · netleasecapital.com ↗

Active offerings8 →Plus 1 recently fully subscribedPrograms on record30 →SEC Form D filings
First filed2014Earliest Form D on record
Property focusNet lease 9 · Office 519 of 27 with a stated type

Counted by Top1031 from SEC Form D filings · updated Oct 16, 2026 · Record Card evaluated Oct 12, 2026

Sponsor Record Card
NR
NR · Not rated

1 completed sale; 0 losses or impairments; 1 counted Program. Fewer than three counted Programs.

Completed sales: 1
Lost or impaired 0 · Counted Programs 1
See the full cardRead the method

Net Lease Capital Advisors has sponsored 30 Delaware Statutory Trust (DST) programs found in SEC Form D filings since 2014, most often net lease and office properties. Today its SEC filings show eight active offerings; the newest was first filed on Sep 17, 2026. One more is recently fully subscribed.

1Offerings 82Record Card3About4Track record 305News6Questions7Similar sponsors
Offerings 8Record CardAboutTrack record 30NewsQuestionsSimilar sponsors
On this sponsor page
  1. 1Offerings 8
  2. 2Record Card
  3. 3About
  4. 4Track record 30
  5. 5News
  6. 6Questions
  7. 7Similar sponsors
  8. 8Next step

Net Lease Capital Advisors DST offerings (8 active)

Active means an SEC filing in the last 15 months and not reported fully subscribed. It does not confirm you can still invest. One recently fully subscribed offering is listed last, marked Sold out, and not counted as active.

Ask a specialist about these offerings
OfferingOffering sizeMinimumAmount soldFirst filedWatchlist
Example record — amount sold shown
NLC Florida Healthcare Sciences DSTSaint Augustine, FLSEC filing, Oct 8, 2026 ↗
$97.0M$150,000
$45.9M
47%Filed Oct 8, 2026
Aug 25, 2026
SW Florida Corp HQ Campus DSTSEC filing, Sep 17, 2026 ↗
$167.3M$150,000
Filed Sep 17, 2026
None reported
Sep 17, 2026
NLC VA 14 Raleigh Healthcare DSTNet lease · Raleigh, NCSEC filing, Jul 2, 2026 ↗
$167.6M$150,000
$165.3M
99%Filed Jul 2, 2026
Jan 26, 2026
Huntington Tower (2025 Woodward Avenue, Detroit, MI)Net lease · Detroit, MISEC filing, Jun 25, 2026 ↗
$137.7M$150,000
$92.2M
67%Filed Jun 25, 2026
Apr 8, 2026
NLC Health Investors DSTHealthcareSEC filing, Mar 6, 2026 ↗
$145.5M$150,000
$145.2M
100%Filed Mar 6, 2026
Oct 1, 2025
Government Lease Holdings 2 portfolioOffice · Camp Springs, MDSEC filing, Oct 27, 2025 ↗
$174.7M$100,000
$34.8M
20%Filed Oct 27, 2025
Nov 20, 2024
USCIS Headquarters - One Town CenterOffice · Camp Springs, MDSEC filing, Aug 8, 2025 ↗
$295.0M$100,000
$177.5M
60%Filed Aug 8, 2025
Dec 13, 2022
VA Oceanside Holdings DST (Oceanside VA Clinic)Net lease · Oceanside, CASEC filing, Jul 17, 2025 ↗
$379.3MNot yet disclosed
$36.3M
10%Filed Jul 17, 2025
Jul 17, 2025
Dollar General net-lease portfolioNet leaseSEC filing, Jul 18, 2025 ↗
Sold out
$36.0M$100,000
$28.0M
78%Filed Jul 18, 2025
Oct 3, 2022
Show all 9 offeringsShow fewer

Open Net Lease Capital Advisors in the directory →

Net Lease Capital Advisors Record Card

Top1031 Sponsor Record Card

Net Lease Capital Advisors

How this letter was decided
NR
NR · Not rated

1 completed sale; 0 losses or impairments; 1 counted Program. Fewer than three counted Programs. NR is not a failing grade. A letter needs 3 counted outcomes or 3 documented sales.

Completed sales 1Losses or impairments 0Counted Programs 1

Of 30 Programs, 1 count toward the Grade: 1 completed sales and 0 losses or impairments. The lines below describe all Programs, including those outside the Grade count.

No documented loss found in searched sources as of Oct 12, 2026.

Programs found in SEC fundraising filings (Form D)
30
Sold, result reported by the sponsor
0
Sold, result not reported by the sponsor
2
Sold according to the sponsor, not yet verified by us
0
Moved into a REIT instead of sold
0
Lost investors' money, or capital at documented risk
0
Older than 7 years, confirmed still operating
1
Older than 7 years, no public outcome found
5
No outcome recorded · under 7 years
22
Share of programs over 3 years old whose status we confirmed
19%

If we missed a sale, a reported result or a public record, send it. Evidence changes a Grade.

Submit a correction ↗

About Net Lease Capital Advisors

Net Lease Capital Advisors, also identified as NLCA, is a real estate investment and advisory firm that describes its specialty as triple-net-lease and U.S.-government-occupied property. Its own About Us material states the firm was founded in 1996 by Douglas F. Blough and Bruce S. MacDonald. The firm's acquisitions material reports more than $6.0 billion of single-tenant, investment-grade property acquired, in transactions it sizes from $25 million to more than $750 million. Top1031 tracks 20 Delaware statutory trust programs attributed to the sponsor, the earliest of which carry a first filing year of 2014.

Sponsor-stated figures are as reported by the sponsor.Sources: netleasecapital.com · Web page · Undated · netleasecapital.com · Web page · 1996 · netleasecapital.com · Web page · Undated · Top1031 sponsor record

Delaware statutory trust program record

Top1031 tracks 20 DST programs attributed to the sponsor 4. The earliest carry a first filing year of 2014 — Healthcare Lane Holdco, DST and Four GSA Properties Holdings DST — followed by 295 BR Holdco DST in 2016 and FC Euclid OH Investors DST in 2019. Later tracked entities include NLCA GSA Baltimore DST and FC Tulsa OK Investors DST (2021), Government Lease Holdings DST (2022), Three National Logistics Properties Investors DST (2023), Government Lease Holdings 2 DST (2024), NLC Health Investors DST (2025), and NLC Financial Service HQ DST (2026) 4.

Show sources (4)Hide sources (4)
  • netleasecapital.com · Web page · Undated ↗ Sponsor disclosure
  • netleasecapital.com · Web page · 1996 ↗ Sponsor disclosureJan 1, 1996
  • netleasecapital.com · Web page · Undated ↗ Sponsor disclosure
  • Top1031 sponsor record ↗
Written from SEC filings and cited sources · Updated Sep 2, 2026

Net Lease Capital Advisors track record (30 programs)

Every program found in SEC Form D filings. Programs with a reported result are listed first, then the rest by first filing year. Each row links to its SEC filings.

Filter by Record Card line
ProgramResult on recordCounted asFiling
GSA Birmingham Government Lease Investors DSTFirst filed 2022Completed sale Source ↗
Sold, result reported by others, not by the sponsor
SEC filings ↗
FOUR GSA PROPERTIES HOLDINGS DSTFirst filed 2014Completed sale Source ↗
Sold, result reported by others, not by the sponsor
SEC filings ↗
NLC Financial Service HQ DSTFirst filed 2026No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
NLC Florida Healthcare Sciences DSTFirst filed 2026No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
NLC VA 14 Raleigh Healthcare DSTFirst filed 2026No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
SW Florida Corp HQ Campus DSTFirst filed 2026No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
DTW Air Cargo Logistics DSTFirst filed 2025No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
NLC Health Investors DSTFirst filed 2025No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
VA Oceanside Holdings DSTFirst filed 2025No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
BOSTON LOGISTICS PROPERTY DSTFirst filed 2024No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Government Lease Holdings 2 DSTFirst filed 2024No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
THREE NATIONAL LOGISTICS PROPERTIES INVESTORS DSTFirst filed 2023No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
EMERALD PASS 12101 HOLDINGS DSTFirst filed 2022No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
GOVERNMENT LEASE HOLDINGS DSTFirst filed 2022No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
GSA CIS CAMP SPRINGS DSTFirst filed 2022No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
NLCA DG Investment Grade Portfolio 1 DSTFirst filed 2022No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
4851 JS INDUSTRIAL DSTFirst filed 2021No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Commerce 94 Industrial DSTFirst filed 2021No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
FC OKLAHOMA CITY OK INVESTORS DSTFirst filed 2021No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
FC TULSA OK INVESTORS DSTFirst filed 2021No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
NLCA GSA BALTIMORE DSTFirst filed 2021No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
NLCA VA BIRMINGHAM REALTY DSTFirst filed 2021No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
FC GRAND RAPIDS MI INVESTORS DSTFirst filed 2020No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
AZ RANDALL OH INVESTORS DSTFirst filed 2019No sponsor-reported figure
No public outcome found
SEC filings ↗
AZ ROMULUS MI INVESTORS DSTFirst filed 2019No sponsor-reported figure
Still operating, confirmed
SEC filings ↗
FC EUCLID OH INVESTORS DSTFirst filed 2019No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
295 BR HOLDCO DSTFirst filed 2016No sponsor-reported figure
No public outcome found
SEC filings ↗
TWO VA PROPERTIES INVESTORS DSTFirst filed 2016No sponsor-reported figure
No public outcome found
SEC filings ↗
VA BIRMINGHAM HOLDING DSTFirst filed 2016No sponsor-reported figure
No public outcome found
SEC filings ↗
HEALTHCARE LANE HOLDCO, DSTFirst filed 2014No sponsor-reported figure
No public outcome found
SEC filings ↗
Show all 30 programsShow fewer

Other Net Lease Capital Advisors offering records

  • VA LV NW DSTHistorical

Net Lease Capital Advisors news

  1. Oct 5, 2026

    Sales report on SW Florida Corp HQ Campus DST →

    SW Florida Corp HQ Campus DST Files With Zero Sales Commissions and Zero Finder's Fees

    Top1031

  2. Sep 18, 2026

    Sales report on NLC Florida Healthcare Sciences DST →

    NLC Florida Healthcare Sciences DST Files a $97 Million Offering With Both Compensation Lines at Zero

    Top1031

  3. Jul 27, 2026

    GSA Birmingham Government Lease Investors DST sold

    Top1031

More Net Lease Capital Advisors coverage (20)
  1. Jul 27, 2026

    Ribbon Cut on Garner VA Clinic, Now Largest Outpatient Facility

    The Carolinian Newspaper ↗

  2. Jul 9, 2026

    Amazon tests new scanning machine in North Andover during Prime Week

    The Eagle-Tribune / Andover Townsman (North of Boston Media Group) ↗

  3. Jun 17, 2026

    Garner VA Clinic

    U.S. Department of Veterans Affairs (VA Durham Health Care System) ↗

  4. Apr 30, 2026

    NLCA VA Birmingham Realty DST Losses?

    Soreide Law Group ↗

  5. Mar 24, 2026

    Meet the company that bought Detroit's most expensive office building

    Crain's Detroit Business ↗

  6. Mar 12, 2026

    Huntington Tower in Downtown Detroit Sells for $156M to Undisclosed Buyer

    DBusiness Magazine ↗

    Also covered by 2 outlets
    • REBusinessOnline ↗
    • Colliers ↗
  7. Mar 11, 2026

    Sales report on Huntington Tower (2025 Woodward Avenue, Detroit, MI) →

    Detroit's most expensive office-building sale ever just closed

    Crain's Detroit Business ↗

  8. Mar 1, 2026

    Are Dollar Stores Still a Reliable NNN Investment in 2026?

    Westwood Net Lease ↗

  9. Nov 1, 2025

    CMFA Completes the Issuance of $89,100,000 in Bonds for VA Oceanside Clinic Project

    California Municipal Finance Authority (CMFA) ↗

  10. Aug 1, 2025

    Net Lease's VA LV NW DST: Securities Investigation

    White Securities Law ↗

  11. Jul 18, 2025

    Sales report on Dollar General net-lease portfolio →

    NLCA DG Investment Grade Portfolio 1 DST raised $28.0M

    Global Deal Flow ↗

  12. Jul 16, 2025

    June 2025 DST Fundraising Soars to Year-High

    AltsWire ↗

  13. Jul 15, 2025

    GSA Birmingham Government Lease Investors, DST: Investigation

    White Law Group ↗

  14. Jun 30, 2025

    Government Lease Holdings 2 DST — Geographically diversified government lease holdings in two DSTs

    RealtyMogul (via Wixdom marketplace listing) ↗

  15. May 3, 2025

    FC Oklahoma City OK Investors DST: Lawsuit Investigation

    The White Law Group ↗

  16. Mar 28, 2025

    Three National Logistics Properties Investors DST: Investigation

    The White Law Group ↗

  17. Mar 15, 2025

    Government Lease Holdings DST: Investor Alert

    The White Law Group ↗

  18. May 28, 2026

    How Delaware Statutory Trusts Are Reshaping the 1031 Exchange Landscape

    Aprio ↗

  19. Sep 17, 2025

    FC Grand Rapids MI Investors DST – Investor Alert

    The White Law Group ↗

  20. Jun 8, 2025

    Net Lease Capital Launches 1031 Exchange DST Solution for Registered Investment Advisors

    Yahoo Finance ↗

Questions about Net Lease Capital Advisors DSTs

Does Net Lease Capital Advisors have DST offerings available now?
Net Lease Capital Advisors’ SEC filings show eight active DST offerings, with stated offering sizes from $97.0M to $379.3M. Active means an SEC filing in the last 15 months and not reported fully subscribed. It does not confirm you can still invest. The newest was first filed on Sep 17, 2026. One more is recently fully subscribed and not counted as active.
How many DST programs has Net Lease Capital Advisors sponsored?
Top1031 found 30 Net Lease Capital Advisors programs in SEC Form D filings. The first was filed in 2014. Each is listed in the track record on this page with a link to its SEC filings.
What kind of property does Net Lease Capital Advisors put in its DSTs?
Of the 27 Net Lease Capital Advisors offering records on Top1031, nine are net lease, five office, four industrial and one healthcare.
What is the minimum investment for Net Lease Capital Advisors DSTs?
Minimum investments on its active offerings range from $100,000 to $150,000, as shown on each offering’s page.
What results has Net Lease Capital Advisors published for its DSTs?
On its Record Card, none of its 30 programs sold with a result reported by the sponsor yet. Of the rest, two sold without a result reported by the sponsor. Sponsor-stated figures are as reported by the sponsor; Top1031 does not compute or estimate returns.
How do I ask about Net Lease Capital Advisors offerings?
Use the “Ask a specialist about these offerings” button at the top of Net Lease Capital Advisors’ offerings list on this page. Top1031 is not a broker-dealer or investment adviser and does not provide tax, legal, or investment advice.

Answers are generated from the counts on this page and change when the record changes.

Other DST sponsors with active offerings

  • Cove Capital Investments logoCove Capital Investments18 active · 101 programs on record
  • ExchangeRight logoExchangeRight11 active · 121 programs on record
  • Kingsbarn Realty Capital logoKingsbarn Realty Capital10 active · 87 programs on record
  • Inland Private Capital logoInland Private Capital8 active · 235 programs on record
  • Madison Capital Group logoMadison Capital Group6 active · 20 programs on record
  • How to evaluate a DST sponsor →
  • DST due diligence checklist →
  • The largest DST sponsors, from SEC filings →

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Top1031 is a data and education platform, not a broker-dealer, investment adviser, tax advisor, law firm, qualified intermediary, or securities issuer.

Information is not advice or an offer to buy or sell securities. DSTs are illiquid private securities with substantial risks, including loss of principal.

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Commercial relationships are not inputs in the Top1031 Grade method. Losses are counted only from court, county or sponsor-published records.

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