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Executive Summary

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Inland Mokena Senior Living DST

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Offering summary

Inland Mokena Senior Living DST is an all-cash Delaware Statutory Trust offering sponsored by Inland Private Capital Corporation (IPC) seeking $86,840,527 in equity. The offering holds Clarendale of Mokena, a 156-unit senior living community offering multiple care levels located at 21536 Wolf Road in Mokena, Illinois. Constructed in 2015, the asset was acquired for $72,000,000 ($72,593,909 total acquisition cost) against a CBRE appraised value of $72,300,000, and reports 94.23% occupancy. The trust carries no debt, eliminating interest rate and mortgage refinancing risks. Year 1 projected cash flow is 4.5%, with a full-term projected average income of 4.65%. Total upfront fees and reserves equal $14,840,527, reflecting an upfront fee-to-acquisition cost ratio of 20.61% and an offering premium of 20.11% over the contract purchase price.

Capital raise

0.0% of the offering is closed

$86,840,527 still available

Closed$0 Reservations$0 Available$86,840,527
$0 of $86,840,527 placed
Total offering equity

$86,840,527

Closed equity

$0

0.0% of offering
Current reservations

$0

Pending subscription
Available equity

$86,840,527

Open for subscription

The DST seeks a total equity raise of $86,840,527 with a minimum cash investment threshold of $100,000. To date, $29,840,527 in equity has closed, leaving $57,000,000 in available equity and $0 in pending reservations. The offering does not utilize any trust-level debt financing.

Offering terms

Sector

Senior living

Investment Category

DST

Projected First Year Cashflow

4.5%

Avg. 4.65% over term

Min. Cash Investment

$100,000

Min. 1031 Investment

—

Total Offering Price

$86,840,527

$556,670 per unit

Offering Debt

NA

All-equity offering

LTV

N/A - All-Cash at Trust level

On acquisition price

Units / Tenants

156

21536 Wolf Road, Mokena, Illinois 60448 ("Clarendale of Mokena")

Property Age

Clarendale of Mokena was built in 2015, approximately 11 years old as of the Offering.

The offering comprises a 156-unit, 2015-built multi-care senior living community operating at 94.23% occupancy in Mokena, Illinois. The DST is fully equity-funded at $86,840,527 with no third-party debt at the trust level. Stabilized base rent to the trust via the master lease is projected at $1,663,246 per year starting in 2027.

Strengths & considerations

Key strengths

  • All-Cash Capital Structure

    0% LTV / No Debt

    The trust carries zero mortgage debt, eliminating loan default, interest rate exposure, and balloon refinancing risks.

  • High In-Place Occupancy

    94.23%

    The 156-unit multi-care senior living community operates at a stabilized occupancy of 94.23%.

  • Substantial Funded Reserves

    $4,781,000

    The capitalization establishes $4,781,000 (5.51% of gross proceeds) in reserves for property improvements and master tenant support.

Key considerations

  • Substantial Upfront Fee Load

    20.61% of Acq. Cost

    Total upfront loads and reserves equal $14,840,527, creating an appraisal-to-offering value ratio of 83.26%.

  • Single-Property Senior Living Exposure

    1 Asset / 156 Units

    The program is entirely reliant on the performance and specialized operational requirements of one senior living facility in Mokena, IL.

  • Moderate Distribution Profile

    4.5% Yr. 1 / 4.65% Avg.

    The projected cash flow starts at 4.5% in Year 1 and averages 4.65% across the projected holding term.

The offering is structured with zero leverage, entirely removing interest rate, debt service, and maturity refinancing risks. The property maintains strong in-place occupancy of 94.23% within an 11-year-old facility. The capitalization also sets aside $4,781,000 in upfront reserves, backed by an established sponsor with $13,100,000,000 in AUM.

Sources, uses & fee assessment

Capital Sources

$86.84MTotal offering

  • Offering Equity

    100.0% of offering

    $86.84M

Where the Capital Goes

$86.84MDeployed

  • Acquisition Cost

    83.6% of offering

    $72.59M

  • Offering Expenses

    8.4% of offering

    $7.29M

  • Reserves

    5.5% of offering

    $4.78M

  • Unallocated / other uses

    2.5% of offering

    $2.17M

Total Offering

$86.84M

All equity — no mortgage debt

Acquisition Cost

$72.59M

83.6% of offering to the property

Total Fees & Expenses

$7.29M

14840527.00% of offering

Reserves

$4.78M

5.5% of offering

Gross equity proceeds of $86,840,527 fund the $72,000,000 acquisition price ($72,593,909 total acquisition cost), $7,294,605 in front-end fees and expenses, and $4,781,000 in reserves. Itemized third-party due diligence and title/recording costs are not disclosed separately and remain lumped in total acquisition costs. Selling commissions equal $4,342,026 (5.00%), acquisition fees equal $2,171,013, and dealer fees total $1,085,507.

Risk read

Tone reflects relative strength, not a rating

Leverage & Debt Risk

Positive

The trust is 100% equity funded with 0% debt, eliminating mortgage default and interest rate volatility.

Offering Premium / Fee Load

Caution

The offering price sits at a 20.11% premium over purchase price, with front-end load and reserves totaling $14,840,527.

Sector Operational Risk

Caution

Senior living operations are labor- and management-intensive, relying on manager execution across care levels.

Asset Diversification

Caution

The offering holds a single 156-unit asset, leaving zero geographical or property diversification.

Investors absorb a 20.11% premium over the acquisition price and upfront loads representing 20.61% of the acquisition cost. Revenue is exposed to single-asset operational risks within the labor-intensive senior housing sector. Furthermore, Year 1 projected distribution yield is 4.5%, averaging 4.65% over the full holding period.

Calculated underwriting metrics

Syndicated Cap Rate

—

NOI ÷ offering price

Upfront Load

14840527.00%

Total fees ÷ offering price (all-equity offering)

Premium / Discount

20.11%

Offering price vs. appraised value

Offering vs. Acquisition

120.6%

Offering price ÷ acquisition price

Price per Unit

$556,670

Offering price ÷ 156 units

The offering equity of $86,840,527 reflects a 20.11% premium over the $72,000,000 purchase price and an appraisal-to-offering ratio of 83.26%. Total upfront load and reserves sum to $14,840,527, representing 20.61% of total acquisition costs. Total front-end offering fees and expenses stand at $7,294,605, while $4,781,000 is reserved.

Sponsor

Sponsor

Inland Private Capital Corporation (IPC)

Inland Private Capital Corporation is an established sponsor managing $13,100,000,000 in assets with over 55 years of enterprise real estate experience. IPC has sponsored 113 DSTs and manages 18 senior living assets encompassing approximately 2,800 units.

Senior Housing$13.1B AUM113 DSTs55+ Years Exp
Portfolio

Inland's senior living portfolio includes 18 properties with approximately 2,800 units offering independent living, assisted living and memory care options.

Properties owned or managed

AUM

$13,100,000,000

Across all programs

DST programs

113

Prior DST offerings

AUM in DSTs

—

DST-held assets

Team

The Property's manager oversees senior living communities serving nearly 40,000 seniors and employs approximately 27,000 employees.

Disclosed headcount

Sector focus

senior living

Stated strategy

View Sponsor Dossier

Inland Private Capital Corporation possesses more than 55 years of real estate experience and manages $13,100,000,000 in assets across 113 DST programs. IPC's senior living portfolio encompasses 18 properties with approximately 2,800 units across independent living, assisted living, and memory care. The designated property manager oversees facilities serving nearly 40,000 seniors supported by approximately 27,000 employees.