Discount Retail Portfolio III DST
Other property — sponsored by Inland Private Capital
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Discount Retail Portfolio III DST is a Delaware statutory trust (DST) — a passive co-ownership vehicle whose interests can be used in a 1031 exchange — sponsored by Inland Private Capital. It raised from accredited investors in the first half of 2012 under Rule 506(b) and is now closed to new investors. Public filings never identify the underlying retail properties, tenants, or any mortgage debt.
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
How did it end?
No sale or other ending on record
Inland Private Capital's March 18, 2020 sponsor PPM lists the exact trust among programs operating as of December 31, 2019 and reports a 6.60% actual annualized cash-on-cash return; Top1031's exact-trust page reports no ending or direct disposition evidence.
No qualifying non-SEC-tracker public source located a property/marketing name, address, size, asset type, exact-property image, or dated article for this exact trust; fields are left blank rather than borrowed from Discount Retail Portfolio II, Family Discount Portfolio, DC MSA Retail DST, or another Inland offering.
How is it financed, and what does it pay?
A Form D reports securities-offering data, not property capitalization, and these filings say nothing about mortgage debt. Whether the Trust was acquired with a loan or all cash, and who any lender was, is settled only in the Private Placement Memorandum (PPM) and the Trust's own closing documents.
Who's behind it?
The final Form D/A names Inland Private Capital Corporation as a promoter alongside two affiliated entities, Discount Retail Portfolio III, L.L.C. and Discount Retail Portfolio III Exchange, L.L.C.1 The issuer's SEC record lists its mailing and business address as 2901 Butterfield Road, Oak Brook, Illinois.2 Inland Private Capital is one of the longer-running sponsors of 1031 exchange programs, and the row below counts its offerings on this site. No sponsor development bearing on this Trust surfaced in public records between August 2024 and August 2026.
- Sponsor
- Inland Private Capital
- Legal Trust name
- Discount Retail Portfolio III DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 79 total offerings from Inland Private Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust filed a Form D at launch and then amended it repeatedly through the spring of 2012, each amendment stepping the reported amount sold higher until the last one reported the offering fully subscribed.3 The final amendment gives January 9, 2012 as the date of first sale.3 Rule 506(b) bars general advertising and limits sales to accredited investors.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 7
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to Discount Retail Portfolio III DST?
Top1031 lists Discount Retail Portfolio III DST as historical. It is no longer raising money.
Where does Top1031 get the data for Discount Retail Portfolio III DST?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in Discount Retail Portfolio III DST?
No. This Trust is Historical — closed to new investors. Its last SEC filing, a Form D/A dated May 30, 2012, reported the offering fully subscribed, and no later issuer filing appears in the SEC record.[3]
What property does the Trust own?
Public filings do not say. A Form D identifies the securities offering, not the real estate, and no qualifying non-SEC public source located a property name, address, size, or asset type for this exact trust. Similarly named Inland offerings, including Discount Retail Portfolio II and Family Discount Portfolio, are separate issuers and were not used to fill these fields.
What does Rule 506(b) mean for how this was sold?
Rule 506(b) is the private-placement exemption that prohibits general advertising or public solicitation. Interests could be offered only to accredited investors — broadly, those meeting SEC income or net-worth tests — typically through relationships the sponsor or its selling broker-dealers already had.
Is the Trust leveraged?
Unknown from public records. The Form D filings do not state whether the Trust carries mortgage debt. Leverage, loan terms, and any lender would be disclosed in the PPM and the loan documents rather than in SEC filings.
Has the Trust gone full cycle?
No outcome has been reported in public filings. The SEC submissions history for this issuer ends with the May 30, 2012 amendment, and no sale, refinancing, or full-cycle result was located through August 16, 2026.[3]
Who were the promoters of the offering?
The final Form D/A names Inland Private Capital Corporation, Discount Retail Portfolio III, L.L.C., and Discount Retail Portfolio III Exchange, L.L.C.[1] The Exchange entity in Inland's structures typically holds interests available to incoming 1031 exchange investors; confirm its role in the PPM.